Yesterday, we wrote down each of our credit cards along with their balances. We added up the number of cards, and the total balance of all cards combined. Hopefully both of these numbers are not too high, but if they are, don’t worry! You’re now beginning to become more financially savvy, so things are going to change!
What I want you to do today: now that you know how many credit cards you have, write down the interest rate that each credit card company charges you. This will typically run anywhere from 9%-20%, however it could be higher if you’ve had late payments in the past. You should easily be able to find it on your statement. If you're not sure how much, that's a problem! Find out NOW! So, that’s it. See, this doesn’t have to be hard. Just make sure you get those numbers written down, in preparation for our next step!
Have a great day!
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