The statistics about debt reveal one startling truth: Americans increasingly find themselves in debt. The reasons for consumer debt include medical bills, loss of income, divorce, or excessive spending. Yet regardless of why consumers find themselves in debt, they eventually feel pressure and stress, which can affect their mental health, their job performance, and their family relationships. According to the U.S. Courts, 617,660 Americans filed for bankruptcy in 2006, even after the Bankruptcy Abuse Prevention and Consumer Protection Act of 2005 (BAPCPA) made filing more difficult. Consumer credit card debt rose to $800 billion in 2005, notes research group Demos.

Unfortunately, most people don’t learn about making wise financial decisions in school, and many parents don’t warn their children about the risks of debt and the importance of good credit. And even if we do learn those important financial lessons, the ease of obtaining credit cards can be just too tempting. The amount of fees and interest people actually pay when they make minimum payments on their credit cards, however, might surprise you:

As the previous chart shows, a $10,000 purchase can turn into a $24,423 expense – and require 28.5 years of monthly payments.