Key takeaways
- The average credit card debt owed by Gen Xers is over $7,000 higher than what other generations owe
- Credit card and overall debt can be managed and paid off by adopting effective tactics aimed at eliminating what you owe
- Proven strategies for reducing or eliminating credit card debt include reducing your spending, paying more than the minimum due, pursuing debt avalanche or debt snowball, using a balance transfer credit card and implementing a debt management plan or debt relief option
The average American debt load is higher than you may think. In fact, looking closer at average credit card debt by age, Generation X those born between 1965 and 1980 has some pretty large credit card balances and overall debts.
But th…
Read the full article at: https://www.bankrate.com/finance/credit-cards/gen-x-credit-card-debt/