Monday, February 01, 2016

Americans in bondage

The average American is steeped in credit card debt, living paycheck-to-paycheck and at serious risk of financial ruin if the slightest thing goes wrong.


56 percent of Americans said they have less than $1,000 in their checking and savings accounts combined, Forbes reports. Nearly a quarter (24.8 percent) have less than $100 to their name. Meanwhile, 38 percent said they would pay less than their full credit card balance this month, and 11 percent said they would make the minimum payment—meaning they would likely be mired in debt for years and pay more in interest than they originally borrowed.

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