If high credit-card debt is dragging you down, it’s time to start living on a budget

High credit-card debt is one of the biggest issues facing consumers, says Dara Duguay, director of Citigroup Inc.’s Office of Financial Education.

"If people need cash, they’re going to use credit cards," Duguay says. "Most people don’t pay their balance in full, two-thirds only pay 3 to 4 percent of what they owe" each month. And the average consumer has nine cards.

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