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StitcherSome things just won’t quit—like credit card debt. It lingers, piles up, and keeps charging you for sticking around. According to our survey, one common goal for many in our community is paying off debt. And we know that this is one of the most dangerous kinds. So in this episode, Jen and Jill break down how credit cards really work and what you can do to take back control of your money.
At the end of the day, where we put our money matters.
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Check out some relevant episodes
The Truth About Credit Card Debt in 2025
According to this survey by Katie Kelton, there is an alarming fact that more than half percent of credit card holders have been in debt for at least a year now.
What Jen + Jill have to say:
Jen and Jill look into the lens of credit cards to see what’s going on behind what seems like a splurge but really isn’t. Survey says, revolving credit at the end of 2023 is about $1.3 trillion and more than half of female cardholders are carrying a balance every month. The catch is people are not even raising up their debt on luxury shoppings, they’re just trying to cover groceries, childcare, and bills.
Therefore, Jen and Jill remind us that buying everyday expenses isn’t the issue, it’s the not paying month to month and instead paying the interest. It can feel like you’re buried underneath which is why it is important to look at our spending and learn how credit cards operate so we can make changes to the ways we can engage with our credit.
6 Things Credit Card Companies Don't Want You to Know
This article by dow janes reveals some truths about banks and how they profit from your transactions with them. Here are some:
- Your “fixed rate” isn’t set in stone.
- The “45 day notice” is misleading.
- They profit from your loss.
- They’re (sometimes) willing to negotiate.
- They like to sneak in fees.
- They charge merchant processing fees.
Where Your Money is Going and What You Should Consider
On this site, you can check out what any U.S. bank or credit union invests in, so you can choose banking that aligns with your values. Jen and Jill break it all down for us.
What Jen + Jill have to say:
If you’ve ever wondered where banks put your money, Jen and Jill reveal that the world’s 60 biggest banks have invested $6.9 trillion into fossil fuels over the past eight years, operating machineries and produces plastics for fast fashion. Three banks that invest here the most are: Chase, Citigroup, and Bank of America.
Meanwhile, last year, Bank of America backed off its blanket ban on lending to military-style firearm makers. In 2024, banks fought against legal aid funding, payday loan limits, and stricter oversight. With this in mind, Jen and Jill point out that it’s important to consider where your money goes, what banks are funding, and the impact of your financial choices. Because in the end, what we do with our money matters.
What do you use your CC for? When will you pay cash?
Jill uses it for all her spending except when she can get a discount for paying cash. Jen also uses it for all spending unless she can’t. She uses cash for FB Marketplace and occasionally pays an annual fee.
Bill of The Week
Thanks Steph for getting our book!!!
Thanks so Much for Listening!
Thanks so much for listening. We love love love reading your kind reviews of our book Buy What You Love Without Going Broke and we especially loved this one from:
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Inspiring - And About Money!
I’ve heard great things about Jen Smith’s and Jill Sirianni’s podcast, "Frugal Friends." However, I tend to prefer reading books over listening to podcasts. Fortunately, they recently published a book titled "Buy What You Love Without Going Broke." This allows me to review their ideas, highlight what resonates with me, and revisit their most important points. I highly recommend this book. The central theme focuses on "value-based" spending, which means spending based on what truly matters to you. They illustrate this concept with personal stories, making it relatable and providing a perspective that really hits home. As I continued to read and reflect on their ideas, I found myself changing my spending and saving habits. These changes have left me feeling positive and are a testament to the power of value-based spending, which aligns with my values and priorities rather than those of society or advertisers. I’m excited to read their newsletter and subscribe to their YouTube channel to keep this inspiration going!
If you want to check out our monthly challenge community head to frugalfriendspodcast.com/club to see what challenge we have coming up next.
Keep leaving us reviews on iTunes or Stitcher, and sending the screenshot to reviews@frugalfriendspodcast.com. And don’t forget to share your favorite quote from the episode by using the hashtag #FrugalFriendsNote. 😉
