For those of us who have managed to avoid a debtors blacklist, credit cards are indispensible. You think not? When was the last time you bought an airline ticket, hired a car or paid to download music online without one?

I’ve got a nasty secret. One of those kinds that I’ve been silently ignoring hoping it would go away without too much hard work. My nasty secret is debt and unfortunately due to compound interest (ie paying interest on top of interest), it certainly doesn’t go away easily!

We all love whipping out the credit card to purchase those cute little red ankle boots or that must have winter accessory in

Credit cards are an easy way to pay for things but they can also be very expensive if you don't pay off the balance in full every month. The longer you leave an unpaid credit card balance the more expensive it gets.  

 By Leo Babauta Confession time: My name is Leo, and I’m a recovering creditcardaholic.

Repaying high-interest debt is sometimes called the best investment. And there's a way to do it that, I suspect, many people don't know about.

I am amazed at people who still use EFTPOS cards for everyday transactions. I maintain a Visa card with a P.I.N. that I use exactly like an EFTPOS card, and the most it costs me is $25 per year.