We Can End the U.S. Financial Crisis

It takes one simple, mental switch

Think the U.S. financial crisis is in a growth spurt? Check out some of these statistics:

Americans have a total of $1.2 trillion in auto loan debt.

U.S. Consumer debt is $13.86 trillion.

Only 41% of people budget their finances.

A simple Google search for personal finance statistics will reveal some significant holes in the way Americans view money. To make matters worse, the statistics year-over-year show that we’re getting farther away from a resolution.

With a financial education tool, the trend of Americans living paycheck to paycheck and struggling to find answers can finally come to an end. Thus, the U.S. financial crisis can start to be maintained.

But how can we start? And where?

What types of debt are we getting into?

At the beginning of this article, it is mentioned that the total amount of consumer debt is pushing $14 trillion. Crazy, right? And that total is divided up over the following categories:

• Credit cards
• Medical bills
• Loans — auto, personal, student, payday