Why are 65 of American adults in debt and 25 paying it off until they die?

The United States is a well-known debtor country, not only the national debt, the American people are basically in debt, the personal debt of the United States is the first in the world, but the American people are not worried about this, because the development of the financial industry in the United States has promoted the development of the American loan industry, and loans have been integrated into every aspect of the American people's lives, and their studies and lives will rely on loans. <>

80% of college students rely on loans to complete their studies and then repay them after graduating from college. According to the U.S. Federal Reserve, the average U.S. household debt in 2018 was $140,000, which is more than double the median U.S. household income, and if you add $1 trillion in student loans, the U.S. household debt ratio has exceeded 80%. And this data has been on an upward trend, and it is expected that it will continue to show an upward curve in the next few years.

This is naturally related to their advanced consumption concept, and such a consumption concept makes 25% of Americans pay off their debts until death. <>

According to data released by the Federal Reserve Bank of New York, as of the end of September 2019, the total outstanding debt of American households reached a record trillion US dollars, accounting for 73% of GDP, of which home mortgages accounted for 2 3 of total household debt, especially student loans accounted for 11% of total household debt. The use of both car loans and personal loans by American households is increasing. Behind the increase in usage is the phenomenon of many people defaulting on their loans that are unable to repay on time.

For example, 2 out of 3 undergraduates graduating in 2018 completed their studies on student loans, borrowing an average of more than $30,000, but paying those debts on time is becoming increasingly challenging, with 25% still missing out on payment in 2018. <>

In the face of such a phenomenon, some institutions in the United States have conducted a survey on this, most of the middle-class people in the United States are very anxious, and feel very unhappy, because early consumption causes them to have to repay all kinds of debts every month, even if this is based on the premise that the United States is not low wages and the American economy is improving, but there are still 30% of people facing various financial problems, they are even difficult to repay on time, and some people even come out to work for 10 years and have not been able to pay off their student loans.

Because America is God who can harvest the world's wealth.

Because Americans' views are different from Chinese, Chinese have the concept of saving, and Americans want to borrow money to enjoy life, so this problem leads.

Because the thinking of Americans is to have fun in time, they have no habit of saving money, and their wages are spent as soon as they are paid, and they borrow money if they don't have enough to spend, so many Americans pay off their debts for a long time.

Americans who are keen on advanced consumption have an average debt of $140,000, and the debt ratio of American households exceeds 80%. Among young Americans, the way to flaunt their wealth is not to show off their luxury goods to show how superior their quality of life is, but to proudly declare "I don't have a loan." Having less money and more debt has become an unavoidable dilemma for many Americans.

For Americans, they live in a timely manner, and most Americans like to spend early. That's why 65% of American adults are in debt, and some are still paying off their debts even after they die.

Because Americans must leave their parents to live alone when they reach the age of 18, and their parents will not give a penny again, many adults in the United States are in debt. However, the employment rate in the United States is relatively low, and some people have difficulty finding jobs, so they will continue to pay off their debts.

Americans are accustomed to loan consumption and advanced consumption, and have been using credit cards to consume, and the interest on credit cards is very high, so 65% of adults have debts, and then add a series of debts such as mortgages and car loans, so some people are paying off their debts until they die.

I think Americans are more headstrong, and their savings are used for travel and food and drink. So their financial pressure is relatively small. But the savings are smaller.

In the United States, 25% of people are paying off their debts, and 20% of the population is young people. The reason is simple, this is that there is a difference in the attitude of young people in the West and young people in China.

And for young Americans, they don't take out a loan from the bank to buy a house, while young people in China will do this, this is everyone's sense of family is different, most of the money they borrow is used for living needs, that is, to enjoy life, maybe they will borrow money from the bank in order to travel once, but this kind of thing rarely happens in China.

Therefore, among all the men in the world, Chinese men have the strongest sense of family responsibility, so many foreign girls want to marry Chinese boys because they are more self-motivated. And those who take out loans, they are not willing to pay back so quickly, because they don't want to lose their quality of life by repaying the bank loan, so it creates a vicious circle.

And the U.S. has been repaying bank lenders and the rate is still increasing year by year, I remember in 2010 the U.S. said that the published ** rate should be between 18 and 19%.

In just 9 years, the growth rate has reached 6%, which is a very large group of people, and this group of people will gradually increase according to this form.

It's good to have this kind of optimism, to be content with the status quo and enjoy life. But we can't do it blindly without a plan, which will also carry huge pressure on our lives, just like the young people around us now, to touch those so-called small loans, as well as online loans, I think it is an irrational behavior.

Most of the money they borrow is used for living needs, that is, to enjoy life, and perhaps they will borrow money from the bank in order to travel once.

There aren't so many Americans who die paying their debts. Most people pay off their debts before they die. Americans have high incomes and well-developed social security.

Many people spend with credit cards, so many people have no savings and rely entirely on debt to spend. But you can't just look at their debts and not look at their income. Half of the U.S. population is middle-class.

The monthly income of this class is more than 20,000 yuan. So you can understand why people dare not save money because of the high income.

Americans also have poor, but there are not many poor people.

Because young people in the United States also take out loans to improve their quality of life, but they don't have enough responsibility to pay them back.

Because young Americans have different attitudes towards life than young people in China, they are burdened with a lot of debts when they are young.

The reason is actually very simple, that is, there is a difference in the attitude of young people in the West and young people in China.

Because of the strength of the United States, he is fighting the war against the whole world, but the whole world is also feeding the American people.

The United States is borrowing a lot of foreign capital, not to mention the citizens of its own country. In order to transcend the development of sexuality, technology is more precious than money for Lao Mei. However, when the capital chain is broken, I don't know if the United States will become the second Soviet Union.

As for why they do this, I can't say, maybe it's a matter of spending habits or financial literacy.

Rich people are like that, you owe me and I owe you this and it will never be finished.

Americans will enjoy that they spend first and pay off their debts later, so there are more debtors.