Overspending in America – Statistics and Facts [Infographic]

Only 50% of Americans are setting up a monthly budget, out of which 21% fail to meet the budget at least six months out of every year. Only 44% of Americans understand that a credit score measures the risk of not repaying a loan, rather than their debt or financial resources. 52% of Americans are spending more than they earn, out of which 21% regularly have monthly expenses in excess of their income, only 13.5 percent adjust their spending the following month to get their finances back on track.

For more such interesting facts, check infographic below:


Infographic by- The Credit Examiner