24%. That’s the standard credit card interest rate, and for most people who carry a balance, we don’t know exactly what it costs us. It means that if we buy something for $1,000 by making minimum payments each month, we’ll end up paying close to $2,000 before we’re done.

And I don’t think most people who are carrying a balance are being irresponsible. I think most of them were never taught what those numbers actually mean because somewhere along the way, we decided that understanding money was something we’d figure out on our own.

We know the credit card company won’t teach us. School doesn’t teach us, and most of our parents either. And the person who pays for that is us.

The best conversations are two-way streets. I want to hear from you.

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