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On a recent evening, Christine Moellering, 40, sorted through the plastic laundry basket where she keeps the family bills, statements and coupons.
"The Sears one is 32.24 percent," Moellering said, reading a credit card statement with a balance of $5,955, including $155 in monthly finance charges. The high interest rate took her by surprise.
"That's nice," she said sarcastically.
Moellering and her husband, Mark, 39, earn average salaries for their age - together about $66,000 a year. They live in an average-priced home in a modest town in southeastern Michigan and have an average cost of living.
But like many other American households these days, they have found that their day-to-day economic life has come to depend not just on how much they earn or spend, but also on how well they shuffle what they owe among a broad array of credit cards, home equity loans and other lines of credit.
Source:
http://www.iht.com/articles/2007/05/23/business/mdebt.php
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