Credit cards have become a part of the financial mainstream, but they still feel like a monkey on your back that can make you crazy. In 2007, the average American family had $7,300 worth of plastic debt. At a 2% minimum payment per month, this means the typical family spends roughly 146 dollars on card interest. Simply put most people owe card issuers something.

DINKS finance has written a great deal on credit cards.

If you’re looking to get out of credit card debt, check out the following posts:

Getting out of extreme credit card debt.

Thoughts on reducing your credit card debt.

Five tips for slashing your credit card bills.

How Miel dumped over $13,000 in ten months.

If you are okay with using cards, but want to be sure you are managing it properly you might be interested in properly managing your credit cards. This is also known as the credit juggling act. Another good rule of thumb with your cards is pay early and often.

For if you are looking to delight in others misfortunes, you can see how James racked up $11,000 in credit card bills and why he now hates them. You might also be wondering why smart people still used credit cards.

Finally, if you really have a problem with overspending on the plastic, you could always chop them in a blender or freeze them.

Finally, here is a quote that sums up credit cards up very well:

Annual income twenty pounds, annual expenditure nineteen six, result happiness. Annual income twenty pounds, annual expenditure twenty pound eight and six, result misery.

Charles Dickens

MANAGE YOUR MONEY TOGETHER

Here are some simple guidelines for DINKS to build wealth:

1) Collaborate: Meet regularly to talk about money, set goals together, track and monitor them.

2) Understand and respect your partner. Take time to understand your partners values about money.

3) Watch the numbers. Get a budget, monitor your spending and track your net worth.

4) Max your retirement. Maximize contributions to your tax deferred retirement accounts.

5) Invest in stock. Stocks perform better than bonds or cash.

6) Avoid high interest debt. Credit cards and title loans are financial cancer.

7) Diversify. Don't put all your eggs in one basket.

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