Credit Card Debt

Credit Card Debt: Results of a study from Northwestern Mutual on personal debt. The research finds Americans who carry personal debt owe an average of $21,800, exclusive of mortgages. The study also found that more than a third (35%) of Americans who have personal debt say they’re carrying close to or at their highest level of debt ever. At the same time, more than four in ten (43%) say they’re carrying close to or at their lowest level of debt ever. Additionally, the research reveals the primary source of personal debt in America is credit card debt, accounting for more than double any other single source of personal debt. And people who carry personal debt say 30% of their monthly income goes toward paying it off. Watch more videos about Managing Debt on finStream at this link: https://www.finstream.tv/videos/managing-debt/

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