Is This the Reason U.S. Credit Card Debt Keeps Climbing?
It's no secret that Americans seem to have somewhat of a credit card abuse problem. Not only did consumer debt recently reach an all-time high, but the average indebted household is currently carrying a balance somewhere in the ballpark of $15,000 to $16,000.
When we think about why so many Americans have wound up in this predicament, it's easy to point one finger at overspending, and another at inadequate savings levels. And to an extent, both would be correct. But new data from NerdWallet reveals that there may be a lesser-known culprit to blame for our collective debt problem: medical expenses.
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Source: Fool.com
