The Ridgewood Blog Brings a Free Market Laissez-faire Point of View to Local, New Jersey State and National Issues.
Being in debt can be such a headache and the stress that comes with it can make everyone’s life difficult. It’s safe to say that the majority of people have been caught up in debt in one way or another; whether it’s credit card debt, mortgages, insurance, loans, and so on. However, there are ways in which you can manage your debts that will make your life a lot easier. This is why we’ve made a list explaining what you can do if you ever find yourself in debt.
the staff of the Ridgewood blog
Ridgewood NJ, New Experian data has shown that despite the economic ups and downs of 2018, the use of credit has remained strong.
In fact:
Continue reading New Jersey Maxed Out on Credit Card but, Auto Loan Debt declines
the staff of the Ridgewood blog
Ridgewood NJ, Americans are more likely to pay with a credit card than with cash than ever before. With a credit card, consumers can buy now and pay later and earn rewards like cash back and travel points for meeting certain spending thresholds. While credit cards have obvious appeal, they can also be dangerous, and easy credit appears to be saddling a growing number of Americans with considerable consumer debt.
According to the Federal Reserve, Americans owe a record $1.04 trillion in credit card debt. That’s up from less than $854 billion five years ago. According to Ted Rossman, an industry analyst at research group creditcards.com, about 40% of Americans have enough income to pay off their balance and do so in full every month. For them, a high credit card balance is not a problem.
Continue reading New Jersey Ranks 4th Highest Credit Card Balances