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Here's how high credit card debt is in every state

Mediafeed Logo By Hanna Horvath of Mediafeed | Slide 1 of 54: Credit card debt is intrinsically tied to financial health. It can snowball quickly and is often incredibly hard to get rid of.“The challenge with credit card debt is the high interest rates,” said Howard Pressman, certified financial planner and partner at Egan, Berger and Weiner. “If there isn't a lot of debt, it's not the worst thing for your finances. But if there is a lot, it can really restrict you from reaching other goals.”Most people incur credit card debt because they are spending more than they are earning, said David Haas, certified financial planner and president of Cereus Financial Advisors. If too much of one’s income is spent on credit card payments, there’s no room left over for savings or other living expenses. Too much debt can keep you from preparing for emergencies.

Why is credit card debt such an issue?

Credit card debt is intrinsically tied to financial health. It can snowball quickly and is often incredibly hard to get rid of.

“The challenge with credit card debt is the high interest rates,” said Howard Pressman, certified financial planner and partner at Egan, Berger and Weiner. “If there isn't a lot of debt, it's not the worst thing for your finances. But if there is a lot, it can really restrict you from reaching other goals.”

Most people incur credit card debt because they are spending more than they are earning, said David Haas, certified financial planner and president of Cereus Financial Advisors. If too much of one’s income is spent on credit card payments, there’s no room left over for savings or other living expenses. Too much debt can keep you from preparing for emergencies.

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