Why Our Grandkids Will Pay For Our Debt :Infographic

For one of my friend, she has 9 credit cards and I do not know how she juggles all the bills. Credit cards use without control make your life topsy turvy.There are so many dangers of unwisely using credit or credit card. I have one credit card that I use and I try to pay in full every time I can.

If you spend without thinking, that practice can be very costly, financially as well losing mental piece. Here is a nice info-graphic that show you, how you can keep paying the credit card debt, and it will keep increasing instead of going down, thanks to compounding interest rate. Check it out below, and judge for your self.

What is scary thought is, if you paid minimum required on your average debt (current national average number) $10, 679,  in 1000 years your remaining debt will be $212 million and you would have paid $5.1 billion dollars on your little over $10K debt. No wonder many of us keep paying debt and never see the light of the day. Danger of credit card debt is mind boggling and scary.

As no human has ever lived for 100 years, the debt can go in to next generation. Let’s be careful of what you buy today on Credit card, else our grand children and great great grandchildren might pay for our debt.

Source: via: Cracked

About Author: This post is written by Preeti who writes under name of Zengirl on Heart and Mind Blog. She writes articles about self improvement, stress free and slow living and believes in slow blogging.

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I am stay at home with 2 kids, married to my best friend zenguy. I am in to simplifying, slow and sustainable living, I am frugal, love reading, writing and watching romantic movies. I believe in family, friendship and community.