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Let’s cut to the chase and talk about something that’s hitting our wallets hard – consumer credit. The numbers don’t lie: Consumer credit is not just bad; it’s getting worse by the day.
Credit card debt: It’s now at an unprecedented $1.03 trillion.
Other loans and retail credit cards: There’s been a $15 billion increase.
Auto loans: These have risen by $20 billion, totaling $179 trillion.
Interest rates: We’re seeing an average of 20.53%, the highest in 22 years.
Now, despite these sky-high figures, something curious is happening: Delinquency rates are staying low. This means many households are still juggling their debt effectively. But
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