Arthur Khmura’s Post

Our Everyday Wealth in America report reveals a sharp reality: 39% of adults now identify credit card debt as the primary obstacle to building wealth, with even 32% of the affluent (ages 45-70, with household assets up to $3 million) sharing the concern. Explore our findings and professional advice on managing credit card debt on CNBC: https://bit.ly/3tcHvzZ #FromHereForward

Credit card debt continues to be a long-term issue for many Americans, with 56 million individuals grappling with it for at least a year. 💼 ◾ According to a recent survey, many Americans have been in credit card debt for 12 months or more. ◾ High-interest rates and the ongoing economic impact of the pandemic are contributing factors to this trend. ◾ It's important to consider budgeting and financial planning strategies to navigate this challenging landscape. 💡📚 ◾ Remember, managing debt effectively is crucial for maintaining good financial health and a strong credit score. Let's discuss strategies for managing credit card debt and improving your financial health. We'll face it together. 💪🌐 Contact me today to schedule a no-obligation appointment! #CreditCardDebt #FinancialHealth #Budgeting #DebtManagement Source: https://lnkd.in/ejbsWEEE

The staggering cost of credit card debt is taking a dire toll on American consumers. In 2022, a WalletHub study showed a $164 billion spend on credit card interest and fees, a year-on-year increase reflecting higher interest rates amidst climbing debt. The average American may spend $1,140 annually on such costs alone, carving out nearly 2% of the average pre-tax income, with increasing delinquencies adding to the economic strain. Intervention looks limited, with proposed reductions on late fees being only a minor relief against the tide of rising interest obligations. This financial crunch underscores the need for more robust financial literacy and cautious spending as people navigate a tightening economy. #CreditCardDebt #FinancialWellness #InterestRates #EconomicStrain #DebtManagement #FinancialLiteracy

With over $1 trillion in U.S. consumer #creditcarddebt, many Americans in 2024 resolve to say goodbye to debt once and for all. NFCC's Bruce McClary tells Morningstar that "credit card debt weighed heavier on people's minds this holiday season," recommending the following steps to turn your debt-free New Year's #resolution into an actionable plan: 👉 Take a close, hard look at your credit card debt 👉 Build a routine for paying off your debt that fits in your #budget 👉 Decide which card you want to focus on first 👉 Break your overall goal into smaller goals https://loom.ly/5ZCiXiU

Credit card debt continues to be a long-term issue for many Americans, with 56 million individuals grappling with it for at least a year. ◾ According to a recent survey, many Americans have been in credit card debt for 12 months or more. ◾ High-interest rates and the ongoing economic impact of the pandemic are contributing factors to this trend. ◾ It's important to consider budgeting and financial planning strategies to navigate this challenging landscape. ◾ Remember, managing debt effectively is crucial for maintaining good financial health and a strong credit score. A Thoroughbred advisor can help you build a financial plan that includes strategies for managing credit card debt and improving your financial health, Visit https://lnkd.in/g8sFjdB to schedule a complementary financial planning session. https://cnb.cx/3VAORsA #CreditCardDebt #FinancialHealth #FinancialPlanning #DebtManagement

Credit card debt surged to over a trillion dollars in Q3 as Americans struggled to cover rising living costs. Read up on how we got here, what it means for consumers, and what you can do if you’re burdened with credit card debt. https://loom.ly/hpeAnyk #creditcards #financialplanning #personalfinance

Credit card debt continues to be a long-term issue for many Americans, with 56 million individuals grappling with it for at least a year. 💼 ◾ According to a recent survey, many Americans have been in credit card debt for 12 months or more. ◾ High-interest rates and the ongoing economic impact of the pandemic are contributing factors to this trend. ◾ It's important to consider budgeting and financial planning strategies to navigate this challenging landscape. 💡📚 ◾ Remember, managing debt effectively is crucial for maintaining good financial health and a strong credit score. Join us as we discuss strategies for managing credit card debt and improving financial health. Let's face it together. 💪🌐 #CreditCardDebt #FinancialHealth #Budgeting #DebtManagement https://lnkd.in/gr4MwQXy

Credit card debt continues to be a long-term issue for many Americans, with 56 million individuals grappling with it for at least a year. 💼 ◾ According to a recent survey, many Americans have been in credit card debt for 12 months or more. ◾ High-interest rates and the ongoing economic impact of the pandemic are contributing factors to this trend. ◾ It's important to consider budgeting and financial planning strategies to navigate this challenging landscape. 💡📚 ◾ Remember, managing debt effectively is crucial for maintaining good financial health and a strong credit score. Join us as we discuss strategies for managing credit card debt and improving financial health. Let's face it together. 💪🌐 #CreditCardDebt #FinancialHealth #Budgeting #DebtManagement https://lnkd.in/gJEVKmZu

In light of rising credit card debt, our focus is empowering individuals with the necessary education and tools to foster fiscal responsibility. Check out the article on CNBC about credit card balances jumping in the second quarter and surpassing 1 trillion dollars for the first time: https://lnkd.in/gaVGbHer