{"id":149,"date":"2025-01-17T16:02:10","date_gmt":"2025-01-17T16:02:10","guid":{"rendered":"https:\/\/davidjamesgarber.com\/blog\/?p=149"},"modified":"2025-02-21T10:16:59","modified_gmt":"2025-02-21T15:16:59","slug":"pf-lesson-60-assignment","status":"publish","type":"post","link":"https:\/\/davidjamesgarber.com\/blog\/archives\/149","title":{"rendered":"PF Lesson 60 Assignment"},"content":{"rendered":"\n

In this assignment, I will be writing about American credit card debt and how it has changed over the past few years. <\/p>\n\n\n\n

American credit card debt has been rising over the past 25 or so years, since tracking began in 1999. half of credit card owners have debt on their cards! Over half of all credit card owners pay off their balance every month. These people enjoy no interest rates. But for the other half of credit card owners who have debt on their cards, they can become trapped, drowning in the high interest rates.<\/p>\n\n\n\n

According to lendingtree.com, the total credit card balance of all the cardholders in the U.S. is $1.166 trillion dollars! (This was in august of 2024, so the total may be higher now.) Credit card interest rates are rising too, and are currently around 20.15%.<\/p>\n\n\n\n

If you can’t pay off your credit card balance every month, stop and reconsider: Is owning a credit card or that particular credit card helping you or hurting you more?<\/p>\n\n\n\n

In summary, American credit card debt has been rising and it is becoming harder to stay out of the trap of high interest rates. <\/p>\n\n\n\n

See PF Lesson 55 Assignment for more information on credit card interest rates.<\/p>\n\n\n\n

<\/p>\n\n\n\n

<\/p>\n\n\n\n

<\/p>\n\n\n\n

<\/p>\n\n\n\n

<\/p>\n\n\n\n

References:<\/p>\n\n\n\n

https:\/\/washingtonstatestandard.com\/2024\/08\/26\/us-credit-card-debt-continues-to-rise-as-housing-and-other-costs-remain-high-for-the-lowest-earners\/<\/a><\/p>\n\n\n\n

https:\/\/www.lendingtree.com\/credit-cards\/study\/credit-card-debt-statistics<\/a><\/p>\n\n\n\n

<\/p>\n","protected":false},"excerpt":{"rendered":"

In this assignment, I will be writing about American credit card debt and how it has changed over the past few years.<\/p>\n","protected":false},"author":1,"featured_media":160,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":false,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2},"jetpack_post_was_ever_published":false},"categories":[22],"tags":[13,15,24],"class_list":["post-149","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-personalfinance","tag-essay","tag-personalfinance","tag-school"],"jetpack_publicize_connections":[],"jetpack_featured_media_url":"https:\/\/i0.wp.com\/davidjamesgarber.com\/blog\/wp-content\/uploads\/2025\/01\/ccs-chart-3-8-1536x12101-1.jpg?fit=768%2C605&ssl=1","jetpack_sharing_enabled":true,"jetpack_likes_enabled":true,"jetpack-related-posts":[{"id":136,"url":"https:\/\/davidjamesgarber.com\/blog\/archives\/136","url_meta":{"origin":149,"position":0},"title":"PF Lesson 50 Assignment","author":"David Garber","date":"January 14, 2025","format":false,"excerpt":"In this assignment, I will explain why interest rates are different for different kinds of loans.","rel":"","context":"In "Personal Finance"","block_context":{"text":"Personal Finance","link":"https:\/\/davidjamesgarber.com\/blog\/archives\/category\/personalfinance"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":138,"url":"https:\/\/davidjamesgarber.com\/blog\/archives\/138","url_meta":{"origin":149,"position":1},"title":"PF Lesson 55 Assignment","author":"David Garber","date":"January 11, 2025","format":false,"excerpt":"The assignment for this week had two parts: Part One: Find the daily average interest rate for all variable rate credit cards: 20.15%. Then calculate the interest you would have to pay on a $600 credit card balance compounded monthly over six months: $105.96 Part Two: Write 300 words on\u2026","rel":"","context":"In "Personal Finance"","block_context":{"text":"Personal Finance","link":"https:\/\/davidjamesgarber.com\/blog\/archives\/category\/personalfinance"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":586,"url":"https:\/\/davidjamesgarber.com\/blog\/archives\/586","url_meta":{"origin":149,"position":2},"title":"The Right Car for Me","author":"David Garber","date":"March 18, 2025","format":false,"excerpt":"Personal Finance Week 20 Assignment This week's assignment was a little different than the normal writing assignment. I was to find a particular car make and model that would be the most practical for me. 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How much did you spend each semester on books? \"At least 300-500 dollars. It was very expensive.\" What was the biggest unexpected financial burden you faced in college? \"The debt that\u2026","rel":"","context":"In "Personal Finance"","block_context":{"text":"Personal Finance","link":"https:\/\/davidjamesgarber.com\/blog\/archives\/category\/personalfinance"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":783,"url":"https:\/\/davidjamesgarber.com\/blog\/archives\/783","url_meta":{"origin":149,"position":4},"title":"My Top 5 Investing Tips","author":"David Garber","date":"May 7, 2025","format":false,"excerpt":"Personal Finance Lesson 140 Assignment In this assignment, I will be giving 5 tips of investing advice. (Note: I am not by any means an investment professional, this is a required school assignment!) 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