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GeoPulse : Learn how to take control of your money with smart personal finance strategies, simple investing tips, and daily money hacks. In this video, we break down today’s financial news and give you practical steps to grow wealth, save smarter, and invest wisely.

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Transcript
00:00Credit card debt this year grew as much as the stock market did.
00:05For example, VOO, which is the ETF that represents the S&P 500,
00:09the stock market is up 17% this year.
00:12And credit card debt grew by 16% this year.
00:16And here's what that actually means.
00:18Remember that the average returns for the stock market over the last 100 years
00:22was between 7% to 10%.
00:23And right now we're at 17%, which is not normal.
00:26So if you're one of the roughly 190 million Americans that has a credit card,
00:31and if you carry the average balance of over $5,000,
00:34your debt is probably growing at the same pace as one of the fastest stock markets
00:39that we've had in a while.
00:40Which means you'll never be able to build any significant amount of savings or wealth
00:44even if you try to out-invest your debt if you carry a credit card balance month to month.
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