Men's Health

Married with Credit Cards

Source: Feel the Burn U.S. households with credit cards pay, on average, $1,300 annually just in interest.

06MONEY

For loan oft loses both itself and friend.

—The Bard

Here’s what finally did it: We needed a car, any car. Some friends had a teenage hatchback and said they’d offload it for a discount, $5,500. We—my wife, Beth, and I—didn’t have that much cash, so we got a $5,500 car loan. At 9 percent interest. It was an embarrassing plan, and we knew it. But it was better than plan A: a single-speed bike I’d dug out of the garage.

We both had jobs—my wife is a physician, even. Still, we didn’t have one hatchback’s worth of liquid savings, and

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