<prompt> Human: It seems hard for me to believe what would cause people to keep spending lots of money on excessive interest rates.I have read on the internet that half of Americans has 15k credit card debt, but this seems almost impossible to believe?  <response>: The average US household credit card debt stands at 15,611, counting only those households carrying debt. Based on an analysis of Federal Reserve statistics and other government data, the average household owes 7,283 on their cards; looking only at indebted households, the average outstanding balance rises to 15,611.And yes, it is very likely true. Around 76 of people live paycheck to paycheck, and many have no idea how to budget. 