Utah households have nearly $80,000 of personal debt, on average, and that figure is growing. The Salt Lake Tribune talked to two experts about advice for managing personal debt. Here are four tips and places to look for help
Utah households have nearly $80,000 of personal debt, on average, and that figure is growing. The Salt Lake Tribune talked to two experts about tips for managing personal debt.
Growing debt is a combination of higher costs and human behavior, said Jessie Fan, a professor at the University of Utah. A sign advertising mortgage rates is found in Salt Lake City, Friday, Oct. 13, 2023. Average interest rates now are more than double what they were in early 2022.Learn about compound interest, finances in generalBut there isn’t a lot of education around debt and finances, Sherrell said. Banks and credit unions try to help, she said, but parents should start at home early teaching their kids about financial responsibility.
Fan added people who already have a lot of debt should “really work on changing spending habits to not create new debt.”Debt is not completely avoidable, Sherrell said, but people can minimize the negative impact and should stick to their budget and reevaluate their spending as needed.
Norge Siste Nytt, Norge Overskrifter
Similar News:Du kan også lese nyheter som ligner på denne som vi har samlet inn fra andre nyhetskilder.
Utahns are ‘very concerned’ about water and want officials to do more, USU poll saysA new report from Utah State University identifies issues with the state's environment and outlines changes state lawmakers can make.
Les mer »
'No woman will ever be president': A USU study of sexism in UtahA study by the Utah Women and Leadership Project team with Utah State University surveyed 839 Utah women, calling out sexist comments and asking for change.
Les mer »
Survey says Utahns want more housing, water conservation and even rural transitBen Winslow is a reporter with FOX 13 covering a variety of topics including politics, polygamy, vice and courts.
Les mer »
Younger Utahns encouraged to prepare willsJust because you're in your 20s doesn't mean you shouldn't have a will — a legal document that spells out your wishes in case you're not around to express them.
Les mer »
Utahns want more housing options as state continues rapid growth, new survey saysA state survey found that most Utahns want more housing options and aggressive conservation to help the state grow comfortably.
Les mer »
Meet Beth, Utah’s first tiny tap truck, rolling to an event near youWhat has three wheels and four taps? Utah’s first tiny tap truck, and her name is Beth. The truck can dispense virtually any cold beverage (alcoholic or nonalcoholic) for guests to enjoy.
Les mer »