How to Dig Yourself Out of Debt
© 2017 Health Realizations, Inc. Update
Americans owe close to $1 trillion in credit and charge card debt.
More than half of Americans, or 58 percent, said they were currently “struggling,” according to a Gallup poll.
The increase represented more than 22 million people, according to Gallup, who found increasing hardship surrounding their lives.
Meanwhile, as a precursor to what was to come, a Reuters article reported in January 2009 that “U.S. consumers have never before been so deeply in debt.” As of October 2009, there was close to $1 trillion of credit and charge card debt outstanding, which is up more than 25 percent since 2003, according to the Federal Reserve reports. And this didn’t at that time include the $10.54 trillion in mortgage debt.
The U.S. National debt as of Jan. 1, 2012 was $15,170,600,000,000. United States now owes more money than its yearly production (GDP-$15,064,816,000,000) with no signs of a debt ceiling or reducing.
Experts predicted that the credit card industry could lose $70 billion in losses, and in this regard individuals and families are among those hardest hits.
The U.S. unemployment rate rose from a prior increase to 7.2 percent in December 2008 (being the highest level in the last 16 years, and 524,000 jobs cut), to a U.S. unemployment rate of 8.3 percent in mid-January 2012.
While debt for many Americans is increasing, and many are having a hard time finding their way out, there is a light at the end of the tunnel. With a simple plan and a desire, you can get out of debt even if the economy is down, and here are the tips to help you do so.
Degunk Your Personal Finances
Learning how to take control of your financial life, eliminating stress, and achieving your goals is possible, and quite easy to achieve, with the help of a simple, proven, 12-step plan explained in the very informative book, "Degunking Your Personal Finances." With this book, you will:
According to the Bureau of Labor statistics, 8.5 million Americans have already taken a second job to meet regular household expenses or pay off debt.
Oprah.com Dig Yourself Out of Debt