Below are five financial lessons we can take away from this unprecedented period and use to strengthen our financial footing in the months and year to come. Lesson 2: The combination of high credit card debt and low savings leads to financial fragility. A recent CreditCards.com survey, reported that 23% of U.S. adults (approximately 120 million Americans) with credit card debt have added to it during the pandemic. If you want to eliminate credit card debt, begin by tackling your high-interest debt first. Once you’ve eliminated your credit card debt, you’ll no longer be paying the interest charges for the debt.

Source: Forbes August 19, 2020 19:18 UTC