14 Mar, 2016
Two-thirds of Americans say they have enough money to live comfortably, with more traditionalists (76%) and baby boomers (67%) saying they do than millennials (62%) and Gen Xers (61%). Those who say they don’t have enough money to live comfortably appear to be using their credit cards to supplement their available resources with high-interest credit. It seems that though their total consumer debt balances are 17% lower than those of Americans who say that they do have enough money to live comfortably, across all generations except traditionalists, Americans who say that they don’t have enough money to live comfortably carry 36% larger credit card balances than those who say that they do have enough money.
Read the rest: Americans Are Buried Under a Mountain of Debt