Avoid credit card rollovers

Someone told me that many young people now take a holiday to be paid through by rollovers in their credit card. They are not aware about the additional cost.

Here is my calculation.

If you charge $5,000 to your credit card and pays by rollover over 24 months at an interest rate of 2% per month, your additional interest cost is $1,200 (i.e. 24% of $5,000).

If you save first and take a holiday later, you will pay $1,200 less for your holiday.