Managing debt is becoming a bigger stressor in the lives of Americans, as national debt continues to rise. We at Ascend have compiled research done by several different sources such as the New York Fed, CDC and PBS to provide a holistic view of consumer debt. Some of the questions that we answer in the infographic below include:
- How has household debt increased over the years?
- What is the breakout of types of debt that Americans face?
- How has debt increased in proportion to income?
- How does debt vary by age and state?
- How are Americans dealing with credit card debt?
- What is the status of student loan debt in America?
- Are Americans affording their mortgages?
- How are Americans dealing with auto loans?
- What other debts do Americans have?
- Are most Americans financially literate?
We also have shared data that Ascend has collected from our own users. We believe that the root issue behind the growth in debt is that few people learn how to save and spend money effectively. In order to tackle these issues, we are using data and automation not only to help people get out of debt, but also to stay out of debt through money management techniques.
Take a look at the infographic below to learn more about consumer debt in America: