It’s a scare-worthy story when you read that USA’s consumer debt has crossed the $14trillion barrier in June 2019, maintaining the debt increase track record for 20 consecutive quarters! And, a disproportionately large portion of the debt-load is due to mortgage, as you will see in the Household Debt Balance graph in this infographic.
In fact, managing personal debt has become one of the biggest stress triggers for 21st century Americans who are strung out between auto loans, credit card debt, student loans, etc. Read on to understand how Americans fare in financial literacy.
The United States of Debt: A Look into Consumer Debt in America