Consumers Incur Less Debt

Posted by administrator | 18/12/12 | Tagged Credit Card Debt

Consumers Incur Less Debt
News from KELOLAND TV:

SIOUX FALLS, SD –

For the majority of this year, consumers have charged less on their credit cards than expected.  That’s according to a study by CardHub.com.  We’re still expected to end the year with $ 36.4 billion dollars more in credit card debt than when it started, but that’s some $ 7 billion less than expected.  But that number could rise if people overspend during this holiday season. 

With the pressure on to buy gifts, many people just whip out the plastic and don’t think about those bills rolling in come January. 

“You always want to think about what is the value of this gift and how does that relate to my long-term goals?  Is my long-term goal to have a house, or to be able to go on a family vacation? What is it costing me in the short term for those holiday gifts, in order to get there?” Marley Prunty-Lara with Consumer Credit Counseling said.

The average household carries $ 6,747 in credit card debt.  If your balance is high, you may want to consider a zero percent transfer. It can save you up to $ 1,000 while you pay it off, unless there are fees that go along with it.

“Not only are there fees to put it on the new, zero-percent credit card, but there can be fees to move it from your…………… continues on KELOLAND TV

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Facebook Use Linked To Increased Weight, Credit Card Debt New Study Finds
News from CBS Local:

MENLO PARK (CBS SF) — Spending time on Facebook could leave users with an increased waistline and decreased self-control, according to a new study.

The Columbia Business School and the University of Pittsburgh studied the effects of heavy use of the social media site, finding that social networking sites like Facebook may increase self-esteem, but that could lead to users “rewarding themselves with something hedonic and indulgent.” according to the study.

Social media was linked with higher body mass index, and higher credit card debt.

“Even after just five minutes of Facebook use, people showed higher levels of self-esteem and a reduction in observable self-control,” said Andrew Stephen, assistant professor of Business Administration at the University of Pittsburgh Business school.

The research will be published in the June 2013 edition of the Journal of Consumer Research.

…………… continues on CBS Local
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