UNSUSTAINABLE HOUSEHOLD DEBT?

June 10, 2016
As it’s the final week of the spring fund-raising season on Public Television, on-air we are revisiting a show about the challenges women face in retirement, and the best strategies for women to overcome them. Evercore Wealth Management’s Jewelle Bickford explains how she empowers women clients to take charge of their financial futures. Watch this episode again.
Are consumers dangerously close to their debt level tipping point? That’s what the latest study by CardHub implies. In its quarterly assessment of household credit card debt, the credit card comparison service found that although consumers paid down nearly $27 billion in the first-quarter, it was the smallest first-quarter pay down since 2008 and covers only a third of the $71 billion in card debt added last year.

According to CardHub these levels are unsustainable and puts us on a track to have a record $1 trillion in outstanding balances by year end.

If your debt levels are getting you down, CardHub has some excellent tips for debt reduction as well.

Access 2016 Credit Card Debt Study: Trends & Insights here.


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