Consumer debt is at an all-time high which is why WSFL-TV Trusted Advisor, Chad Van Horn, joined Inside South Florida with tips on making your debt a little more manageable.
“I've been talking about this for a long time that there is a reckoning of debt coming,” says Van Horn. “We're in the highest level of debt across the board in our country right now. Last quarter, there were 229 million new credit cards that were opened.”
With more people getting ready to take out loans, Van Horn shared what consumers should avoid.
“People are financing not just vehicles and houses, but they're actually financing fashion,” says Van Horn. “If you’re financing a really high-interest rate for day-to-day things that are not going to appreciate in value, you’re putting yourself in more debt. So, the first thing you want to do is stop financing luxury purchases.”
For more information, visit VanHornLawGroup.com or call 954-637-0000
This Inside South Florida segment is paid for by Van Horn Law Group.
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