“Personal debt is a huge problem encountered by almost all individuals around the world. In fact, personal debt is not just a personal problem but an economic problem as well. Just to give an example how large personal debt is, statistics from the US alone shows that the average US household owes some $19,000 in non-mortgage debt. The amount is a result of loans coming from credit card debts, educational loans or car loans. Millions of individuals are struggling everyday just to be able to pay off loans accrued for different purposes.
Having said that, many people still cannot control their debt because they have a hard time computing or the amount. One smart way of handling finances would be using the Cnn money debt calculator.