credit has been quite easy to obtain
DALLAS (PRWEB) May 20, 2018
The debt load of American consumers has been increasing year on year and National Debt Relief explains some of the reasons for it. The article titled “How America’s Debt Load Has Soared” released May 16, 2018, aims to educate consumers more on why their debt seems to increase and what they can do about it.
The article starts off by explaining that the debt level in America has been increasing and is already over the levels before the 2008 recession. This is already an alarming level of debt for people. The article also shares that the credit card accounts make up most of the household debt at present. The combination of poor saving habits and undisciplined spending are some of the reasons people are in so much debt.
The article also explains that the big difference between the cost of living versus consumer income is also to blame. The article shares that income growth in the US has almost been non-existent keeping earnings at relatively the same level. On the other hand, expenses have been steadily increasing over the past few years. This forces most people to cover for some of their expenses with credit cards.
The article also shares that one of the reasons people are in so much debt is that fact that credit has been quite easy to obtain. When people are not disciplined in spending, this can result in unmanageable debt. People are opening credit left and right and charging purchases without much thought about the statement that will come at the end of the month.
The article also explains that difficulty in managing money is another reason why a lot of consumers are in debt. The article points out that one reason for this is that students in school get little to no education or training in the principles of money management, saving, and investing.
To read the full article, click https://www.nationaldebtrelief.com/americas-debt-load-has-soared/