Debt in America, some disturbing facts.
We all know that there is certain advantages to
credit cards in today's society.
Does America have a debt driven economy?Debt has been the means for new American families to get established. Car payments, mortgage payments, student loans, and all other household necessities on credit cards. For the last 20 years, the majority of our economy has been driven by debt, not by traditional productivity. For most families in America who end up paying more on interest payments than the actual goods that they have acquired, they have what they need, with an enormous amount of debt that they manage to make the monthly payment for. However, there are some who cannot make these payments. If you are one of these people and need help, click here.
The growing fear with such a change the structure of our economy is clear; the "income" created by credit can only be pushed so far. At some point, there we will hit a limit as to how far we can go into debt. The more people who use debt to achieve the perceived life of prosperity, the more difficult it becomes for other people to do the same. A more frightening question is, what happens if a lot of families cannot pay off this debt in their lifetime?
Most of the credit card debt in America can be avoided. And the Credit Card Debt Consolidators can help.According to statistics, the average amount of debt in America is six times higher than the average amount of income. The values of only 50 years ago are being replaced by instant gratification. The patience and sense of satisfaction that was earned by saving to make a major purchase is now replaced by easily acquired credit cards.
And while women should have the right to work, the amount of debt incurred by average families, in many cases, leave women no choice but to work. The average work week of American families has changed from 40 hours (one spouse) to around 90 to 100 hours (both spouses). The sad fact is that most of these additional hours of labor are used to pay interest accumulated on purchases!
You are spending hard earned money just to have things a few months sooner!