"Think the credit card issuers are doing you a favor by letting you slide by on a $10 or $20 minimum payment? Think again. You might end up facing monstrous interest charges."
The White House posted the following infographic on its website explaining how America accumulated its national debt over the past decade, shifting fiscal forecasts from projected surpluses to elephantine deficits.
The debt you carry is not simply made up of your monthly payments and interest rates. Many other factors should be considered when you think about the real cost of your debt, including your cash flow, the terms of your loan and your borrowing behavior. Do you know what it really costs when you finance your life?
