The Credit Card Trap

There’s an article over at Kiplinger – nothing really new, but I did find the first paragraph rather interesting:

America is the richest country in the world, yet, ironically, we have the highest percentage of people living paycheck to paycheck. A recent study from ACNielsen revealed that about one in every four Americans say they don’t have any spare cash. Without any wiggle room, it’s easy to see why so many people turn to credit cards to finance life’s little necessities.

There seems to be an overwhelming image that those who have large credit card debts do so because of extravagant spending. While this may be true for some, it’s not the case for all an


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