Trying to explain credit card interest rate to a friend.
Trying to explain credit card interest rate to a friend. I have a friend that carries a balance on her credit card. She pays the minimum payment every month because “that’s all she has to pay”. She also saves a substantial amount of her paycheck in her savings account. I told her to take her savings out of the savings account and pay the credit card down. She looked at me like I was crazy. I’m no fin…