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3 Reasons Why the Debt Snowball Beats the Debt Avalanche


2017-1-27 21:30 Tech 82 0 0
3 Reasons Why the Debt Snowball Beats the Debt Avalanche
finances-debt

The consumer debt spiral is the biggest reason why modern Americans are so unhappy. As of May 2016, the average household had about $5,700 in credit card debt, but if you look only at balance-carrying households, the average spikes up to $16,000. That’s jaw-droppingly insane. Now throw in car loans (average $30,000 for new and $18,500 for used cars) along with student loans ($30,000 for recent undergraduates) and it’s clear that we have a debt problem. I’m not blaming the system here. Except under extreme circumstances, we only have ourselves to blame if we take on too much debt to handle....

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