Which is Larger: Your Credit Card Debt or Your Savings Account?
Posted: March 26th, 2011 | Author: Joe | Filed under: Credit, Debt | Tags: Credit Cards, Debt, Infographic, Savings | No Comments »Here’s an interesting infographic from BankRate.com that shows a slim majority of respondents have a larger emergency saving fund than a credit card balance, but it’s not all good news.
For example, it’s kind of frightening to me that 6% have no idea! How do you not know?
I find it interesting that a very clear majority (59%) of those under 30 have a larger emergency savings fund than credit card debt. It certainly seems that this younger generation does not share it’s parent’s love of leverage.
What do you think of having no debt and no savings? Is that better or worse than having more credit debt than savings?
It’s encouraging, but there is a lot of progress to be made, as Greg McBride says.
