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May 2014 Archives

Debunking Misconceptions: What Really Underlies Credit Card Debt

A common viewpoint espoused by some people seeking to explain why certain consumers in New Jersey and elsewhere face a significant level of credit card debt goes something like this:
Those people simply don't manage money as well as do others with lower debt levels. They lack restraint and make more impulsive purchases. They're into instant gratification. They need a basic course on money management.

Study Helps Answer Questions Related to Credit Card Debt

Using credit cards and promptly paying off monthly balances is often touted as a smart and easy way to boost one's credit score. But life isn't that simple. A spouse may lose his or her job, a child's illness may require an unplanned trip to the ER or a furnace could break down in the middle of January. Many middle-class American families simply don't have sufficient savings to account for these types of unexpected financial hits.

Failure to Extend Unemployment Benefits Impacts an Estimated 2.3 Million Americans

When opening the newspaper or turning on the television, New Jersey residents are likely to find reports detailing signs of the U.S. economic recovery. While the financial positions of many Americans have improved since 2008, for an estimated 2.3 million Americans impacted by long-term unemployment, times remain tough.

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