Credit card

Credit Card Debt Rising to Dangerously High Level

There is an old saying about history repeating itself if we are not smart enough to learn from it. This seems to be happening right now with regards to credit card debt levels in the United States. It was less than a decade ago that the great recession financially rocked the United States. Prior to the recession, things were cruising right along, economically speaking. And that means that credit card debt levels were pretty high. Of course, once the bottom fell out, all of that consumer credit card debt led to financial disasters for millions of American consumers. That same type of debt is rising to a level that is pretty darned close to pre-recession numbers. Take for example the closing of last year. In the final quarter of 2015, consumers racked up a sizeable $ billion in credit card debt. That number can be so hard to digest that it is difficult to understand how much debt affects the average household. When adjusted to…
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Life

Holiday Spending Is Down This Year for the Average American

Many Americans have been working on cutting back this year and making their budget stretch farther. There is no difference when it comes to the holiday season. This year, many Americans are planning on spending less this holiday season than they have in the past. A new poll has been released by Gallop that shows us the average American consumer is planning on spending $82 less this holiday season than they did last year. Last year the average American planned on spending around $770, but actually ended up spending &786. This year however they are only expected to spend $704. 57 percent of the consumers who were asked said they did plan to spend the same amount this holiday season as they did last year. A total of 26 percent said that they plan to spend less this year, while and entire 15 percent, however, said that they are planning on spending more this holiday season. In 2010 and 2011 the sales in November and…
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