NEW YORK (MONEY Magazine) -
Credit-card debt in the U.S. -- now averaging $8,000 per household -- is at an all-time high.
And credit-card debt is just the tip of the iceberg. A decade-long refi boom coupled with looser down-payment requirements means that we hold less equity in our homes than at any time in history -- just 56 percent on average -- and less equity in our cars as well.
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All this is happening as our average savings rate has slowed dramatically.
Over the next year, we're going to try to help you take control. We'll help you understand and improve your credit score, structure a safety net and stay out of debt. You may have to give up some conveniences, but I guarantee that you can make progress.
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