This week we introduce a new segment: “The Money Minute.” On our first Money Minute we introduce NerdWallet’s 2015 AMERICAN HOUSEHOLD CREDIT CARD DEBT STUDY, which uses survey data to measure the average American’s household debt from credit cards to mortgagees and everything in between. What’s the average American’s debt load for 2016, you wonder? We answer: the average U.S. household was carrying $204,992 in mortgages, credit cards, and student loans on a median household income of $55,192! We implore you to be better than average and on upcoming shows we’ll begin covering tips for: 1) how to separate yourself from the average debt holder by first recognizing the problem; 2) designing a budget in less than 15-minutes, and 3) how to develop a debt management strategy you can actually stick to by dividing your good versus your bad debt. As an added bonus, we cover two listener questions for making a mid-career change, including tips for defining your personal values and how you can use those values to personally tailor your job search.
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