It’s that time of year again to decide what part of your life you want to improve in the New Year. According to Nielsen, the top three New Year’s resolutions of 2015 were “stay fit and healthy” (37%), “lose weight” (32%) and “enjoy life to the fullest” (28%). However, for a growing number of Americans, the biggest change they want to make in 2016 has to do with debt.
Not surprisingly, Nielsen found that the fourth most common New Year’s resolution is to “spend less, save more,” which was the 2015 resolution of one out of every four Americans. The latest numbers on American consumer debt highlight just how bad the situation has gotten for a large part of the population, but many of them don’t seem to know how to turn things around.
The Numbers
A new poll conducted by CreditCards.com shows more than one out of five Americans with debt are now resigned to the belief they will never be able to pay off that debt. The 21% of those surveyed that indicated their debt seemed insurmountable is more than double the 9% that felt that way when the same survey was conducted in 2013.
In addition, a recent NerdWallet study found the average American household with debt now carries $15,355 in credit card debt and $129,579 in total debt.
Making A Change In 2016
For Americans who have resolved to reduce or eliminate their credit card debt burden in 2016, here are…
Click here to continue reading
Want to learn more about how to profit off the stock market? Or maybe you just want to be able to look sophisticated in front of your coworkers when they ask you what you are reading on your Kindle, and you’d prefer to tell them “Oh, I’m just reading a book about stock market analysis,” rather than the usual “Oh, I’m just looking at pics of my ex-girlfriend on Facebook.” For these reasons and more, check out my book, Beating Wall Street with Common Sense. I don’t have a degree in finance; I have a degree in neuroscience. You don’t have to predict what stocks will do if you can predict what traders will do and be one step ahead of them. I made a 400% return in the stock market over five years using only basic principles of psychology and common sense. Beating Wall Street with Common Sense is now available on Amazon, and tradingcommonsense.com is always available on your local internet!
