A lot of people believe that credit card debt is caused by being inherently bad with money. Individuals that spend a lot of money but do not save end up in debt and have to pay high interest rates on their cards. However, Professor Theresa Kuchler’s paper entitled “Sticking to Your Plan: The Role of Present Bias for Credit Card Paydown” demonstrates that is not the case for credit card debt. While many people do want to pay off their credit card balances, they fail to follow through on their...