What Happens When You Put Groceries on a Credit Card and Can’t Pay It Off

Carrying a grocery purchase from one credit-card statement to the next can turn an everyday household expense into debt that continues accumulating interest after the food is gone. grinny/Shutterstock

Compound interest can be an important tool in structuring a sound financial life. However, compound interest on credit cards can be your worst enemy in trying to survive and get ahead.

Continuing from Part 1, we will focus on the real cost of buying groceries on credit. The information here will demonstrate the adverse effects of using credit and give you weapons you can use in the daily battle against rising prices.