Credit card debt is racking up in many households, and people want to be set free from it. It can kill a man’s present–and future. Don’t get sucked into the cycle of only paying the minimum balance-that’s a nightmare. It pays to overpay, and the below infographic will tell you why.
It Pays to Overpay
Some people rack up debt on credit cards because, unfortunately, they had to. A medical emergency or loss of job may be a legitimate reason to take out what ultimately is just a high interest loan. It’s not immoral, nor is it necessary irresponsible.
Where taking responsibility comes in is being aware of this situation, and choosing to dig yourself out of it. Don’t get sucked into the cycle of the minimum balance nightmare. Just because you can scrape by doing that doesn’t mean it’s a good choice.
As you can see above it’s costly to let high interest debt stick around. Chop it up and get it off your back pronto! It’s not hard. It’s as simple as overpaying your minimum due each month.
Infographic courtesy of killerinfographics.com