Arab Today, arab today seniors use credit cards as safety net
Last Updated : GMT 06:53:52
Arab Today, arab today
Arab Today, arab today

Seniors use credit cards as safety net

Arab Today, arab today

Arab Today, arab today Seniors use credit cards as safety net

Washington - UPI

Credit card debt among older U.S. adults is primarily used as a safety net, not a lack of personal financial responsibility, a survey indicates. AARP\'s Public Policy Institute and Demos conducted a survey of U.S. middle-class adults age 50 and older found older households carried an average credit card balance of $8,278 in 2012. The report also showed older households carried an average credit card balance of $8,278 last year. For those age 50 and under, credit card debt averaged $6,258. Other key findings for middle-income households that carried credit card debt for three months or more: -- A third of older households used credit cards to pay for basic living expenses such as rent, mortgage payments, groceries, or utilities. -- Half of U.S. adults age 50 and older carried medical expenses on their credit cards. Prescription drugs and dental expenses were the main contributors. -- A quarter of older households said loss of a job contributed to their credit card debt in the last three years. -- Nearly 18 percent older Americans nearing retirement said they dipped into retirement funds to pay down credit card debt. -- Older Americans were twice as likely as those age 50 and under to take on credit card debt to assist other family members, 23 percent vs. 11 percent. The survey by GfK Knowledge Networks from February to March of last year involved 997 middle-income households that had carried credit card debt for three months or more.

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today seniors use credit cards as safety net Arab Today, arab today seniors use credit cards as safety net

 



Arab Today, arab today

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today seniors use credit cards as safety net Arab Today, arab today seniors use credit cards as safety net

 



Arab Today, arab today France defies terrorism through tourism

GMT 15:18 2017 Saturday ,20 May

France defies terrorism through tourism
Arab Today, arab today Zainab Fadel Oglu designs “Shakerin” mosque

GMT 12:13 2017 Thursday ,11 May

Zainab Fadel Oglu designs “Shakerin” mosque
Arab Today, arab today Seeks to move past rift with Israel

GMT 08:00 2017 Monday ,08 May

Seeks to move past rift with Israel
View News in Arabic - Business: نفط وبتروكيماويات
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday