Consumer debt is set to reach $4 trillion by the end of 2018

Personal Finance

That kind of growth is not surprising, according to LendingTree chief economist Tendayi Kapfidze, and is in keeping with the growth of consumer debt that has been happening since 2012.

At these levels, consumers are spending about 10 percent of their income paying these debts each month, Kapfidze said. From 2000 to 2008, that averaged about 12 percent to 13 percent, he said.

Still, credit card delinquency rates, which are at 2.4 percent, are low.

“It’s a level of debt that’s pretty manageable for consumers on aggregate,” Kapfidze said.

But there are some things you should consider if you find your personal debts rising.

Source link

Products You May Like

Articles You May Like

Trump’s war with Harley-Davidson has divided America’s bikers
Tech and consumer discretionary stocks will finish 2018 higher 
Yelp shares soar as online review site beats profit expectations
Your first trade for Thursday, August 9

Leave a Reply

Your email address will not be published. Required fields are marked *