Americans currently owe $854.2 billion in credit card debt and there are more than 600 million credit cards currently in use in America. The average American household carries about $7,000 in credit card debt. When consumers find themselves buried in debt, high interest rates and fees can make it difficult to pay off their balances.
It’s hard to imagine being in debt by millions of dollars, let alone trillions. Unfortunately, the U.S. has a national debt of $17 trillion. Accounting Degree has created an infographic entitled “Paying Their Dues: How the U.S. National Debt Affects You”, breaking this debt down into lay-mans terms.
The student debt in America is now one trillion dollars! But, just how much money is that? Check out the infographic below to learn more about student debt in the U.S.
Unpaid medical bills are now the #1 reason people are filing for bankruptcy. What’s the cause of these staggering numbers? National Debt Relief explores this issue in the following infographic.
Many college and university students are always looking for ways to save money. A big reason why students seem to be so frugal, may likely be due to the weight of dealing with student debt. Student debt is not fun, but there are many ways to be smart about it. This infographic explains some facts about student debt in the US and Canada, and also provides some helpful suggestions to be proactive in managing your finances.
Through the following infographic, Liberty March USA wants to reach out to the average American and sensitize them about the impending debt crisis and its repercussions of their future as well as the future of coming generations. This infographic aims at building the background of the campaign by showing the effect of debt on the life of Americans in the future years from different vantage points.
According to the following infographic “Personal debt in the UK,” by Baines & Ernst, a whopping 42% of adults are worried about debt, with 38% of those polled holding the rising costs of living as the main contributor to their financial problems.
America is in a student loan debt crisis. With over $1.1 Trillion in outstanding debt (up from $200 Billion in 2002), we need to start banking on our education. In the following infographic by Democracy for America , earn more about the Bank on Students Loan Fairness Act (proposed for July 1st of this year) and sign the petition. It is time we start valuing our education and students more than big banks.
According to SB Wire, “U.S. citizens have taken up to $11.38 trillion consumer debt [in 2012].” These consumer debts result from outstanding expenditures that exceed consumers’ income. There are two main types of consumer debt that stimulate economic growth: revolving debt (i.e., credit cards), and non-revolving debt (i.e., auto loans or mortgages). Americans owe a combined total of $1.944 trillion in school, auto and furniture loans, alone.
Meeting the minimum monthly payments of your credit cards is like running on a financial treadmill. Sure — we’re all guilty of it; whipping out the ole’ credit card whenever cash is tight. In the long run, however, all those card swipes do count: if a cardholder made a minimum payment of $200 each month for a $5,000 credit card balance with an 18.9% interest rate, it would take 11 years and 5 months to finally pay off! When factoring in interest, the total credit card results come with a $8,109 price tag.
Over 80 percent of medical students and physicians are in debt. Check out the infographic below presented by StudentDoctor.net to see the numbers and how it affects medical professionals’ life decisions.
Options Credit was sitting around wondering how many ways people could use their credit cards after their debts were paid off. So they started blurting out ideas and ended up with this “visual” list of 51 ways to use a credit card after your debts are paid off.
More and more people are asking their dates for their numbers…not phone numbers, credit score numbers! These people know that like it or not, a credit score can tell a lot about a potential partner and they want to eliminate risky relationships before they even start. In the following infographic by CreditResource.com, you’ll find out what these credit savvy daters know and you’ll see why it’s important to ask for your date’s credit score rating. Before you invest time, emotions and money into a relationship, find out if your credit scores are compatible.
The burdens of bad credit. Neglecting credit card and utility bill payments may temporarily relieve financial account-abilities, but is it worth the risk of paying the ultimate price in bad credit? Learn more in the following infographic from Go-AAGP.Org.