November 28, 2018

20 Truths About Holidays and Debt You Need to Know Right Now

Americans spend 26% of income on debt

Americans now spend 26% of their income servicing debt, according to CNBC. Consumer debts, such as credit cards, are climbing considerably faster than housing debt. Christmas spending, which often goes on high-interest credit cards, tends to put an extra end-of-year crunch on Americans’ ability to pay down their credit card debt.

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