I was thinking about credit cards today.  I was also thinking about some of the careless, ridiculous purchases some people make on them. 

I tried to find an average credit card interest rate on the internet, the closest I could come was about 16%.

Let's see what a $5 Starbucks concoction would cost if the purchase lived on as an unpaid credit card balance for five years with an annual interest rate of 16% compounded monthly.  Here's what I found:

• Purchase today    $5.00
• One year later      $5.86
• Two years later    $6.87
• Three years later  $8.05
• Four years later    $9.44
• Five years later     $11.07

Five years later, that financed, instant gratification cost more than twice what the purchaser thought he or she paid . . .

Was it really that good?  Was it worth it?