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Wednesday, January 22, 2014

Credit Card Debt Numbers

Nerd Wallet: American Household Credit Card Debt Statistics: 2013

2 comments:

Glynn Kalara said...

Sad. So many people are living far beyond there means these days. On top of that so many are buried in long term debts like Mortgage and Student loan debt. It wouldn't be so bad if there was an expanding economy, there is in China. I fear for the younger generation they've been thrown to the wolves of Wall st. and DC.

Jim Sande said...

In the hierarchy of money, credit is at the bottom. Credit is liquid right now because loose credit is proven to be a stimulus to the economy especially when the Fed funding rate, which is the cost charged to banks for wholesale money loans, is incredibly low. There are good credit deals out there if you choose wisely. I can get music gear for 24 months interest free loans. Interest free is the way to go, but it needs to be balanced in the budget, gos without saying. But yes, if you have no job and no prospect for a job and no back stop or last resort behind you, use the freaking card and at least don't starve.