Since we're on the subject of credit cards. Retail credit cards increasingly come with perks — and a 25 percent interest rate

For retailers, store cards have become a way to drum up customer loyalty while bringing in extra cash to make up for narrowing profit margins. Macy’s, for example, made 39 percent of its $1.9 billion profit last year from credit card fees, according a Morgan Stanley analysis cited by the New York Times. The company’s credit card, issued by Citi, comes with a 26.24 percent interest rate.

I've come to the opinion that if a major part of your business model involves profiting off of the poor financial decisions of other people, you're not running an ethical business. This applies to everything from credit cards to predatory lenders to shady credit collections companies that try to slap crazy fees and penalties on top of the debts they're trying to collect.

I could go on a huge ass rant, but I'll just say that I think debt is dangerous, constrictive, and counter productive. After I got out of debt, I switched to paying for everything in cash. My spending, both impulsive and planned, dropped way down and I'm in a much better place for it. Money and spending habits don't come up in every day conversations, but when it does, I never hesitate to tell people to consider cutting back their credit card use. It's amazing the amount of difference it can make.