Excite Financial



	This is a very true fact but the real question is where did all the money go? Take a look at the chart below. The majority of our hard earned money will go to taxes and interest. We all know there is very little we can do about t axes but there is something you can do about the interest.





	There is a reason why credit card companies are a extremely profitable business. They are in the interest game. Most of us know how interest works but seeing the aftermath of what it costs you is some what eye opening. Just paying off the min. balance on your credit card each month is the worst thing you can possibly do. This is known in the industry as “an interest trap”. At the end of 21 years of just paying the min. payments on that card would have cost you $11,732.00.



	Most of us know that in order to build credit we have to use credit. Credit cards that is. Credit is one of the most important determining factors in our lives. Did you know some employers would look up their future employees credit score to see how well they manage their finances? Even the most sound financial planner can not predict the future. Things happen that cannot be avoided like the loss of a job or an untimely departure of a loved one that cause us all to fall behind.



	Did you know the average American adult receives 8 credit card offers though the mail each month regardless of his or her credit history. Wonder why? The average American family carries a balance from month to month of $8000.00. That means for every man, woman and child in the country, Americans owe $2,293 in creat card debt (based on current population figures). The average interest rate for credit cards is 19% Late fees are peeking at $35. The typical minimum monthly payment is 90% interest and 10% principal. These are all real facts. It’s scary to think how much money we through away on a monthly basis. We are directly responsible for insuring the record-breaking profits to the credit card companies. Now is the time to act. It’s a free call and you have nothing to loose except become debt free sooner then you ever imagined.