Have you ever maxed out one credit card like it was free money, only to open a second one to make payments on the first?
That’s the debt trap—one of the sneakiest tricks that have caught a lot of us off guard – especially if nobody taught us to beware of it.
Interest compounds faster than you can pay it down, turning a $2,000 shopping spree into a years-long nightmare like a bad ’80s haircut you can’t grow out.
Getting out starts with facing the music: line up your debts smallest to largest and knock them out like a high-score arcade game.
Balance transfers and debt consolidation can slash that brutal interest rate, giving your payments a chance to actually dent the principal.
Bottom line: the debt trap only wins if you stay in it, and you’re smarter than it gives you credit for.
5 Signs You’re Falling into a Debt Trap & 8 Ways to Avoid it
