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Consumer credit operates on the 'buy today - pay tomorrow' mentality and we have become dependent on this type of credit in our day-to-day life.

By definition, it is the amount of credit consumers have, to purchase (non-investment) goods or services that are consumed and whose value depreciates very quickly. (For example, clothing, gas, household electronic equipment, television sets.)

Many classify mortgage lending as a separate category of consumer credit or personal borrowing, so home mortgage loans are usually excluded from some definitions of consumer credit. We have included information about residential mortgages on this page.

Credit has become an integral part of our world and impacts us in many ways, some positive and some negative. Consumer credit, and more specifically credit cards have become the facilitators of the lifestyles of middle Americans. Our reliance on credit continues to move our economy as well as the global economy.

However, with the economic recession that began in 2008 and the subsequent global credit crunch, we have become more aware of the negative impact created by improper money management, on our families as well as our country.

Consumer credit statistics show you will be far more likely to misuse credit if you do not understand consumer credit and it's implications in every area of your life.

Consumer Credit - Credit Cards

For those individuals that have credit card debt, the best return on your money would be to minimize or pay off those credit card balances. Generally, credit card debt is the most expensive debt for any household, with some interest rates that exceed 20%. Start with the credit card that charges the most in interest, pay it off first, and set a goal to pay off all credit card debt.

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With this in mind, we are compiling valuable insights into important issues relating to the various kinds of credit that we as consumers use. As you read through the information related to credit cards, credit card debt, home mortgage loans and home equity loans, we are certain you'll agree that responsible use of consumer credit can make it one of your most important assets. You need to protect it for both you and your family.

To learn more, come back and visit us often! We are adding new important information regularly.

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Credit & Debt

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Beating Credit Card Debt
Statute of Limitations on Credit Card Debt
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Credit Scores & Credit Bureaus

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Credit Cards & Charge Cards

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Average American Credit Card Debt Facts
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Can A Credit Card Save You Money?
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Loans - Mortgages

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Home Mortgage Loans
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Disadvantages of Home Equity Lines Of Credit

Budgets - Cash Flow Management

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Managing Money - Allocate Your Paycheck

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How To Create A Family Budget

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Creating A Budget
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Handling Your Debt

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Handling Debt - Inflation & Interest Rates
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Pros & Cons Of Consolidating Debt
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Some Facts About Credit Cards Debts
How To Save Money
Loan Modification
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Are You Over Extended With Consumer Credit?

Make sure you're not spending more than you're earning each month. The easiest way to dig yourself into a hole of debt that's near impossible to dig yourself out of is to use credit cards to spend more than you're earning. Make sure you're being responsible with your money and not over-extending yourself.

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Most People Spend 10% More Than They Make!
You probably know how much money you made last month, but do you know how much money you spent? Or do you know how much money you have left to spend this month? If you don't you're not alone, most people have no idea. The fact is most of us spend 10% more per month than we make. That comes out to $431 per month based on the average American income. No wonder the average credit card debt is now at $8,500!

A New Way To Manage Your Money
Traditionally, many people managed their money by dividing their cash into several paper envelopes. An envelope for food, entertainment, utilities etc. They then spent their money from these envelopes. They always knew how much money they had left, and how long it had to last. A new breakthrough in budgeting and spending management modernizes this same envelope concept using advanced computer technology.

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