Why is credit card debt the worst kind of expense?
a. You have to pay a lot of interest.
b. You can’t pay back any money.
c. You can’t cover your expenses
a. You have to pay a lot of interest.
Credit card debt is often considered the worst kind of expense because credit card companies typically charge high-interest rates on the balance amounts. This means that if you carry a balance on your credit card, you will end up paying a significant amount of money in interest over time. The interest charges can quickly accumulate, making it difficult to pay off the debt and putting a strain on your financial situation.