The IFS has sounded a warning over poor households who are falling behind on bills and debt repayments Those households appear to be struggling with "problem debt" which is swallowing huge chunks of their income —around a quarter ofShow More Summary
China's economic stability is founded on a mountain of debt that Council on Foreign Relations experts warn will end in a crisis. The country's total non-financial sector debt, which includes household, corporate and government debt,Show More Summary
The Fed's Household Debt Service ratio through Q3 2017 was released on today: Household Debt Service and Financial Obligations Ratios. I used to track this quarterly back in 2005 and 2006 to point out that households were taking on excessive...Show More Summary
Somebody printed this on a T-shirt: “The holidays are over and all I got was a mountain of debt!” Sound familiar? Don’t feel bad; you’re not alone. According to CBS News, the average credit card balance per US household is now $9600. And with credit card interest rates running between 16% and 24%, credit card […]
This interactive graph of personal debt in the United States reveals the geography of poverty. The average household income in California is $91,757, while the median medical debt in collections is $795. The average household income in Mississippi is $55,494, while the median medical debt in collections is $747. [via tywkiwdbi]
How does yours compare?
Anyone who has been paying attention to the New York Fed’s Quarterly Report on Household Debt and Credit is probably aware that Americans are drowning in debt... ...Aggregate household debt climbed $116 billion during the third quarter to $12.96 trillion, edging past its previous peak from Q3 2008. Show More Summary
Even though consumer confidence cooled for a second straight month in November, CNBC is reporting that holiday spending for the average American household is on track to be the highest in 12 years. Amazingly, the CNBC All-America Survey...Show More Summary
Dave Ramsey once said, "Debt is dumb, cash is king." Truer words have never been spoken. According to data from the U.S. Federal Reserve, the average amount of credit card debt per U.S. household is over $16,000. And even though debt and consumerism are the American way, staying up at...
What do you do if you wind up with a little extra money in your household budget at the end of the year? Perhaps you pay down your credit card debt or save it for an earlier retirement. Maybe you replace old appliances or go on a much-needed but unplanned vacation. Show More Summary
Last week, rating agency DBRS raised a red flag when it calculated that in the past decade average US wages have risen by only 5.7%, while consumer debt over the same period rose 60% more, or 9.3%. However, while the US household's reliance...Show More Summary
Despite earning a six figure household income, many parents struggle to pay for their children’s education without going into debt. This post highlights how you can qualify for tuition assistance despite making $200,000, $300,000, $400,000, or even $500,000 a year. Show More Summary
``... the growth in consumer debt is raising concerns when viewed in the context of the existing wage stagnation hampering the current economic environment. The rating agency cites a paper published in October 2017 by the Harvard Business...Show More Summary
As US stock benchmarks smash through one record high after the next – a central-bank driven phenomenon that disproportionately benefits the wealthy at the expense of the middle-class and working poor - booming credit-card debt is forcing...Show More Summary
By Danielle Park – Time to get some financial consulting from those who are not paid to sell us debt and risk. Listening to the banks/broker/dealers/auto sellers have dug undisciplined households a very deep hole. Debt weight...
Household debt levels in Canada are higher than in any other country, according to a report by the OECD.
A new report shows our household credit tally has surpassed Canada's annual GDP. Have we stopped listening to the warnings? The post Congrats, Canadians: You’re world leaders in debt appeared first on Macleans.ca.
Americans are living beyond their means.
``Flows into credit-card and auto loans delinquencies rose, with 4.6% of credit card debt 90 days or more delinquent, up from 4.4% in the second quarter, and 2.4% of auto loan debt seriously delinquent, up from 2.3%. That's still nowhere...Show More Summary
From the NY Fed: Total Household Debt Increases, Delinquency Rates of Several Debt Types Continue RisingThe Federal Reserve Bank of New York’s Center for Microeconomic Data today issued its Quarterly Report on Household Debt and Credit,...Show More Summary