Welcome to Women Emerge with Mellisa Lambert I am your host.
This show is sponsored by Women Emerge Network a Network created for Women, Men and Children to help bring families Dreams, Destiny, and Businesses Together. This show will introduce you to leaders, experts and motivators who share their journeys and their stories through: Personal and Professional Growth, Knowledgeable Tips, and Lessons learnt that will Empower you to Grow! It’s time to grow your: Mind, Spirit, Your Brand, Business, and your Finance! Today this is “Debt Management, The Key to Wealth Creation.”
Did you know, American household carries a total of $17.1 trillion in debt as of the second quarter of 2023 and the average household debt is $101,915 as of the end of 2022. Northwestern Mutual and the Harris Poll interviewed 2,740 U.S. adults online between mid-February and early March. Here are some of the findings:
• Despite persistently high inflation, the study shows average personal debt among U.S. adults, not including mortgages, has dropped steadily over the past four years.
• The average American in 2023 carries $21,800 in personal debt, a whopping $8,000 less than what Northwestern Mutual recorded in 2019.
• Personal debt for many Americans is decreasing 43% percent said they have the lowest or close to the lowest debt they’ve ever carried.
• However, 35% of Americans reported that they’re in the most debt of their lives. New York Fed data shows that U.S. household debt swelled to $17.06 trillion last quarter, with credit card balances making up about $1.03 trillion of it — a new high for credit card debt.
The first step in debt management is to understand your current financial situation.
The next step is to create a budget that allows you to make regular payments toward your debts, while also setting aside money for savings, business opportunity and investments.
Another important aspect of debt management is avoiding new debt, don’t add to what you must pay down before going up.
Let Women Emerge Network partners help you reduce your monthly debt payment by up to 50%. Go to www. WomenEmergeNetwork.com
Women Emerge Network a Network created for Women, Men and Children to help bring families Dreams, Destiny, and Businesses Together. They want to impact women, the family, the community, and the world by bringing resources, education, opportunities, and businesses that will make a difference in the lives of many.
Women Emerge Network (WEN) is a place where we come Together to Network, Learn, Grow and Create Generational Wealth! Here at WEN the Family is Connected, Father, Mother and Children. This Community keeps the Wealth Growing Amongst One Another. Let’s build the Network with our platforms, Magazine, Radio Show, Social Media and YouTube Channel. Together we will make History and be the Biggest Network created by a Woman for the “Family”. Become a member today www.WomenEmergeNetwork.com
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