Here’s a number most families never actually sit down and calculate: if you’re carrying an $8,000 credit card balance at today’s average rate of around 24% APR, you’re handing the bank roughly $160 every single month in pure interest. That’s $1,900 a year that buys you absolutely nothing. Not groceries. Not gas. Not a vacation. … Continue reading If You Carry a Credit Card Balance, This Math Will Make You Mad