Reality Radio for a really great future.

We're talking real money.

On talking real money, we talk about money.

But most of the time, we talk about the investing of money.

Because, well, that's one of the biggest problems most people face in their lives is getting started investing, how to invest all of that.

But there's another important part of managing money. And that is, and by the way, this barely

existed 150 years ago. Boy, does it exist now. That is managing credit and avoiding debt. But we all at one time or another, or not we all,

but most of we all, have found ourselves in debt, in debt that sometimes feels unmanageable.

And we turn to the academics.

We believe in following the advice of academics.

So what is the best way to deal with high credit card debt?

How can you, what's the easiest way for us to start to pay that off and to get out

from underneath that ponderous weight of the debt that keeps us from saving? I mean,

when you're paying 19 to 26 percent to borrow money, yeah, that's pretty painful stuff.

Indeed, it is. Let's talk about the size of the problem first. It's pretty astounding.

A bank rate survey showed that more than one third, 35% of the U.S. adults now carry credit

card debt from month to month. That's up from 29% a year ago. The average balance about $5,500. And here's

the part that hurts the most. You mentioned 19 to 26. The average annual percentage rate on a

credit card recently hit 19.85. And that rate, by the way, is going up because interest rates are going up or have gone up.

Pardon me.

So this is a real problem.

And if it's not for you, by the way, it might be for one of your kids, your grandkids,

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