Tuesday, March 13, 2007

Are you an average American struggling with debt and more debt

Are you and Average American Struggling With Debt
Did you know that in 2005 Americans had $2.2 trillion in total consumer debt, more than twice the consumer debt that they had in 1994.  That doesn't even take into account the amount of debt our government has racked up.  On top of that, the average personal savings rate in the United States in 2005 was -0.5% which was the first time this rate has dipped below 0% since the Great Depression?  Unfortunately we are a have it now society and we incur a lot of debt. This all forces the next point, 70% of American workers plan to work into retirement. Unfortunately, 40% of the future retirees will end up having to leave the work force earlier thank expected due to health problems, disability or company downsizing. Coupled with all of this the average American had $12,000 in home equity loans that was needed to pay off credit card debt.

So with all that whats a person to do. Fortunately that is what this blog is all about. Check out the following articles about these challenges.
  1. Debt consolidation and paying off your debts
  2. Saving for your retirement
  3. Setting up a family budget
I hope you enjoyed this post. If you have a question or a idea make sure you leave a comment and I will try to research it and write about it. Final thought if you enjoyed this post why not Subscribe to Strategies for Life it's free.

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