how to manage debt

Ways to Help Your Family Manage Debt

Does your family carry a lot of debt? If you answered yes, then you should read this article. Debt is a massive problem in our society today. Many families struggle to pay off their debts every month, which leads to stress and anxiety. In addition, debt can also affect your credit score. Reports from the Federal Reserve Bank of New York show that the total consumer debt has increased from $13 trillion in 2007 to $19.5 trillion in 2018. The average American household owes $77,172 in student loans, credit card bills, auto loans, mortgages, and other types of debt.