CardHub reports the average household now has more than $8,000 in credit card debt.

The report shows that total credit card debt increased by $68.5 billion last year which leads us to a fairly large number, $900 billion. This would be the highest amount since everything thing tanked around 2008.

What was the average household debt then? Experts say it was $8,400.

Is this bad? Experts say it can be, mainly because people can get themselves in some pretty tricky situations when they’re loaded down with debt.

My personal experience is stay away from credit card debt. I don’t care what the perks are, it’s not worth it. I was one of those people who got into some trouble with credit card debt back in 2009. Let’s just say it got to the point where I started to get to know the debt collectors who were calling and yelling at me.

Here’s the thing, if you don’t want to worry about going broke, hold back on the credit card spending. Save up enough money to equal what your credit card limit would be. Put it into another account and use that account as you would a credit card. For one, you won’t overspend as often because it’s YOUR money, and secondly you’re borrowing from yourself and no one else is involved. Yeah it will suck for awhile until you get things in order, but the PAYOFF is awesome.

(Also use Google to get some sound financial advice about budgeting because that is huge. No you don't need the $100 candle even though it smells like a unicorn fart. I imagine a unicorn fart might smell like Skittles...okay, off topic.)

What about building credit? No one said you couldn’t save up to pay cash for a car, how badass would that be?

Good luck!

Source: CardHubToledo Blade & My Brain