A financial educator who teaches financial literacy in high schools shared that students often struggle with the concept of credit cards feeling like free money, as their parents have provided them with the card without proper guidance. The educator highlighted the importance of teaching financial literacy in schools to address such misconceptions.
Americans owe more than $1 trillion to credit card companies, a record sum that’s likely to keep growing as rising interest rates prevent cardholders from paying down their debt. CNET’s Nick Wolny explains.
This episode was produced by Victoria Chamberlin, edited by Matt Collette, fact-checked by Laura Bullard and Amina Al-Sadi, engineered by Andrea Kristinsdottir and Patrick Boyd, and hosted by Jonquilyn Hill.
Transcript at vox.com/today-explained-podcast
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