Couple with $30,000 in credit card debt bought a timeshare—’You don’t understand the implications,’ says self-made millionaire

Americans owe more than $1 trillion in credit card debt as of the third quarter of this year, according to Federal Reserve data. The average consumer’s outstanding balance breached $6,000 as of September, according to TransUnion.

Ron and Cristina, however, have around $30,000 in credit card debt, the couple recently told self-made millionaire Ramit Sethi on the Netflix star’s “I Will Teach You to be Rich” podcast. Only their first names were used.