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Consumer
dEBT sTATISTICS*
• There are 1.3
billion payment cards - including credit cards, debit cards and store
cards - in circulation in the United States. The average American home
has 13 payment cards.
• Americans make over 1.5 trillion dollars worth of credit card
purchases annually.
• The typical credit card purchase is 112% higher than if using cash.
• Over 40% of US families spend more than they earn.
• Americans carry, on average, $8400 in credit card debt. If one were
to make a 2% payment every month at an annual APR of 15%, it would
take about 30 years to pay off and include about $13,000 in interest.
• The average U.S household pays $950 in interest each year.
• About 18% of all U.S. personal consumption expenditures (PCE) are
made on bank credit cards. If retail cards and debit cards are
included, the figure rises to 24%.
• 96% of all Americans be financially dependent on the government,
family, or charity at retirement.
• Almost 1 in every 100 households in the United States will claim
bankruptcy.
• According to the National Association of Realtors, the average
homeowner stays in his home for 7.1 years. With an 8% mortgage, he
will sell his home still owing over 90% on his mortgage. If he was to
continue this trend, he would never pay off a mortgage in his
lifetime. Only 2% of homes in America are paid for.
• On average, Americans can expect to receive only 37% of the amount
they will need to live comfortably from their retirement plan.
• Nearly half of all Americans have less than $10,000 saved for their
retirement. 39% of Americans are anxious about their ability to
achieve their desired retirement lifestyle.
*These numbers change and may not be the most updated
information.
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Education
Center
Helpful Financial Forms - Download financial forms.
Credit
Cards - Learn about important terms before applying for a
credit card.
Consumer Rights - Learn about your rights under the Fair
Credit Reporting Act.
Debt Warning Signs - Learn about the warning signs of debt.
Credit
Scores - Learn about credit scores and why they are so
important.
Telemarketing Scams - Top 10 telemarketing scams.
Money Saving Tips - Tips to help you save money.
Consumer Debt Statistics - Detailed consumer debt statistics
in the U.S.
Debt Management Plan - How debt management helps you.
Credit
Repair - How credit repair helps you.
Foreclosure Prevention - How and why to prevent foreclosure.
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