Debt account aversion is costing consumers more

The Federal Reserve reported in 2009 that credit card debt carried by Americans in 2008 was $976 billion. Experian reported in the same year that those that use credit have an average of 5 credit cards per household.

This fascinating study used a game to find out how people pay off debt. It’s a good read…

http://webuser.bus.umich.edu/srick/Winning%20the%20Battle.pdf

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