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Debt might just be every adult’s least favorite word, but we’re going to talk about it anyway, because it’s that important.
Here’s the deal: if you’re in debt, you have company. As of March 2021, Shift estimates that around 80% of Americans are carrying debt including mortgages, car loans, credit card debt, and more. And what’s more, Debt.org puts the average American’s debt at over 90,000 dollars. America’s grand total of consumer debt? $14.6 TRILLION dollars as of 2021.
Now, you may be thinking, “That’s a lot of debt-—but houses are expensive. Cars are expensive. School is expensive. $90,000 isn’t that much when it comes down to it.” The bigger problem, however, is that Americans just can’t pay back their debt.
Between rising housing costs, food price surges, fluctuating gas prices, and childcare costs (to say nothing of interest rates and delinquent payment fees), Americans are accruing debt faster than they can pay their ways out.
If you’re one such American, you’re in the right place and you’re not alone. The experts at Tablecloth Finance have done the research on important debt-relief topics, so you can discover the best ways to eliminate your debts and live life debt free.
Check out our debt help articles below to read about an array of options and pitfalls to consider as you work to get out of debt and other valuable information around getting and staying out of debt.