The economy may be booming. But you still have bills to pay. And many of you seemingly don’t know when you’ll be able to be debt free.
New research shows 65% of you with debt aren’t sure when, or even if you'll pay it off, with 25% expecting to die with debt. Ted Rossman with Credit Cards.com tells KTRH the numbers he saw made him shake his head.
“This is definitely a distressing number,” Rossman explained. “You probably have more money coming in to your life than you realize.”
He says the big problem is those high interest rate credit cards you keep using.
“That’s the one that takes the biggest chunk out of your monthly budget. Interest rates have never been higher,” Rossman stated.
But the good news is this. The 25% that said they would die in debt is down from 30% a year ago. And 35% of you think you'll actually have your debt all paid off by the time you are 53 years old.