We're more ashamed of credit card debt than weight
A new survey reveals Americans are most embarrassed to admit their amount of credit card debt.
This post comes from Krystal Steinmetz at partner site Money Talks News.
Would you rather tell people your weight or your credit card balance?
A recent survey by the National Foundation for Credit Counseling found that nearly 40 percent of Americans are more embarrassed about their credit card debt than their age, weight, credit score or bank balance. Credit score came in a close second, with 30 percent of the vote.
Just 12 percent of respondents said their weight was the most embarrassing. And only 10 percent indicated their bank balance was humiliating.
The results of the NFCC survey are telling, according to Gail Cunningham, NFCC spokesperson.
"Since consumers revealed that the two facts they'd be most embarrassed to admit are related to credit, it is obvious that they are not comfortable with how they are currently managing their money," she said in a statement.
CBS MoneyWatch said credit card debt is still a conversational taboo, likely because of the amount of credit card debt people rack up.
The average household carries $7,087 in credit card debt, with the country's total credit card indebtedness mounting to $854.2 billion. That makes it the third-biggest debt market after mortgages and student loans, notes personal finance site NerdWallet.
I think if it came down to it, I would be most hesitant, and embarrassed, to admit my weight. Does that make me vain? I don't know. I do have some credit card debt, but nothing I'm embarrassed to admit, and my credit score is OK too.
What would you be most embarrassed to admit?
More from Money Talks News
Instead of watching commercials and following what the rest of the country is doing, watch rich successful people and do what they do.
1. Stay in shape, not just watch the weight but get exercise as well
2. No smoking
3. No lottery
4. Work and play hard.
5. Pay yourself first, put money aside first thing when getting paid
6. Make all big money decisions automatic, find best cable deal, super insulate your house, get new heating system, put payments on auto pilot, pay extra on the mortgage, put investments and savings on autopilot.....do this stuff now and then every month you're making progress
without having to think about it...
7. Get out of debt - NOW. If you have credit card debt, pay it off, today....right now. Do whatever you have to today, sell something, stay late at work if you can, eat leftovers, whatever you can do, do it right now...and then stay out of debt.
8. Save and invest for the long term.....you don't see really rich people panicking about the market going up or down every day....invest long term...
9. Keep an emergency fund.....even if you start with just a couple of hundred dollars....the more the merrier
10. Eat real food, not McDonalds, Burger Thing, etc. Jim Rohn said sure you can eat a candy bar today instead of an apple and nothing will happen, but what if you do it every day for 5 years? Life is a marathon, not a sprint. You don't get rich, thin or healthy in one shot.....it's what you do day after day, correct decisions one after the other.......keep at it and you will be successful....
The problem is only a little over 50% of eligible voters actually vote in elections. So 100% of the country is falling victim to what 1/3 of the country is voting for. With a growing number of fiscally illiterate citizens actually showing up to vote, how will we ever really get the change we need?
To begin with, when someone sees you they pretty much already know your weight and can guess your age, so of course you don't admitting to that, you really can't hide that.
There's so many confessions posted here that I thought I had stumbled into a 12 step meeting.
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