colette's Blog

Latest Posts

• The Credit Card Debt Lie
  A recent report stated that $9,000 was the average American’s credit card debt. This figure made some consumers feel great - we are not alone. The figure also made families with no credit card debt comfortable with their decisions. Unfortunately, no matter what consumers felt about the reported $9,000 of average debt it is untrue.
  Consumers are in denial over their debt
  One survey says that 90 percent of consumers are unwilling to admit the...



• Recession Cost Count For In Debt Consumers
  Everyone has felt the pinch from the recession in some way, but now real numbers are being calculated that put a dollar value to that pinch. According to an economist, Phillip Swagel, consumers lost an average of $100,000 during the recession. Swagel used to work for the U.S. Department of Treasury so he is quite familiar with accumulating and summarizing relevant data.
  
  Swagel now works for the Pew Economic Policy Group and Pew sponsored t...