Mounting American debt over 30 years has changed the average family’s balance sheet.
A new report from The Pew Charitable Trusts examines how families hold debt, their attitudes toward it and how it relates to their overall financial health. The lifecycle dynamics of debt can be used to better understand the distinct phases of debt acquisition and debt reduction in families’ lives.
Over the past three decades, one of the biggest shifts in American families’ balance sheets has been the growing use of credit and households’ subsequent indebtedness. In the years leading up to the Great Recession, the average household at […]