For most people in the United States, debt is a way of life. Today, the average household with credit card debt has balances totaling $16,748, and the average household with any kind of debt owes $134,643, including mortgages.
Here’s what the typical household carrying in debt:
Total owed by average U.S. household carrying this type of debt:
But this doesn’t mean Americans are doomed to be indebted for life. Careful spending and steady debt eradication can go a long way toward reaching financial freedom. Meeting with your financial coach is key to your financial success.
During your financial coaching meetings, you will tackle issues like:
- Improving your credit score
- Paying off credit card bills
- Paying off debt
- Saving up for your education
- Saving up for a car
- Saving up for a house
- Familiarizing with financial resources in the community
- Understanding financially smart decisions
- Having financial options
Meeting with your coach at least 3 times per semester will allow you to put good financial practices into play, and will allow the coach to tailor situations for your betterment as you progress. *stats taken from NerdWallet, Inc.