Fewer Americans have more debt today
While some Americans say they are now carrying more debt than at the same time last year, the number hit its lowest point since April 2009.
In a recent poll, 23 percent of Americans said they’re dealing with more debt, according to Rasmussen Reports. Meanwhile, 37 percent say they owe less, an increase from the previous poll’s total of 31 percent. Another 36 percent say they owe the same amount as last year.
Consumers are also feeling better about the interest rates they pay on their debts, as just 21 percent believe they’re paying more than they did last year, the report said. That is also the lowest such rate observed since the poll began in April 2009. Another 17 percent say they’re paying lower rates. The remaining 56 percent are paying roughly the same.
Many consumers have worked conscientiously to reduce their outstanding debts over the last several months after suffering significant financial hardships during the recent recession. However, recent statistics indicate that many are also once again turning to their credit cards more often, which can quickly add to their debt if spending isn’t under control.