Oct 2011 debt

October 2011 Financial Security Index » Debt


How do you feel about the amount of debt you have compared to 12 months ago?

Twenty-seven percent of high earners ($75,000-plus) are more comfortable with debt versus last year compared to 18 percent of lower earners (less than $30,000).
Eighteen percent of college grads are less comfortable with debt compared to 32 percent of those with some college.
Thirty-one percent of people younger than 30 are less comfortable with debt versus 23 percent of those 65 and older.
Gail Cunningham

"The trend toward feeling less comfortable is on the rise."

Although close to half of the respondents indicate their comfort level as it relates to debt is similar to what it was 12 months ago, the trend toward feeling less comfortable is on the rise from a low of 19 percent in June of this year to a high of 27 percent in October -- a significant jump. This trend is undoubtedly due to the lack of certainty in the job market, no improvement in the housing market and the length of time the economic malaise has continued.

- Gail Cunningham, vice president of membership and public relations at the National Foundation for Credit Counseling.

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