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Dumb Little Man: Debt Management: 5 Reasons Paying Down Your Debt Might Be Even More Important Than You Realize

Dumb Little Man: Debt Management: 5 Reasons Paying Down Your Debt Might Be Even More Important Than You Realize

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Debt Management: 5 Reasons Paying Down Your Debt Might Be Even More Important Than You Realize

Posted: 21 Jun 2013 08:01 AM PDT

Debt.

It's something that we Americans have been eager to pile on and slow to pay off. A 2012 survey by Bankrate.com suggests that 25 percent of Americans carry more credit card debt than emergency savings.  And according to NerdWallet.com, the average amount of credit card debt per indebted household stood at a staggering $15,216 as of June, 2013.

If just looking at those numbers makes you squeamish, you're not alone. Carrying mass amounts of debt is bad for us in more ways than one and can have severe long-term effects that go well beyond our finances.
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