According to MSN, Americans are carrying $700 billion in credit card debt these days. The average household credit card debt is $8,000. And the average interest rate is up to 15 percent. No one ever got rich paying Visa or MasterCard 15 percent. Of credit card holders, one in 16 people are delinquent. That means those people can’t stay current on their minimum payments. The Federal Reserve also recently reported that 43 percent of people are spending more than they make. So, we are experiencing unprecedented amounts of debt as temptations grow. We need to trim our spending and face what we owe by coming up with a plan to pay it off.