Debt

Downsizing Debt

The average household credit card debt has increased from $15,762 in 2015 to  $16,061 in 2016, according to the American Household Credit Card Debt Study by Nerd Wallet. Student loan debt increased from $48,172 to $49,042.  If you carry car loans, the average is $28,535. In total, the average American household has $132,529 of debt and the average rate on credit cards is 18.76%!!!!!!   That means the average household is paying $1,292 in credit card interest each year. That’s a really [...]

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Downsizing Debt

The average household has $15,762 of credit card debt, according to the 2015 American Household Credit Card Debt Study. If you have student loans, the average is $48,172. If you carry car loans, the average is $27,141. In total, the average American household has $130,922 of debt and $2,630 is the average interest on credit card debt. That’s a really nice vacation or college savings! Another startling and disturbing fact is that consumers consistently and vastly underestimate how much [...]

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