One-Quarter of Americans Adding Debt While Living on Credit

According to the Cambridge Consumer Credit Index, approximately 24% of Americans adding to their debt load last month did so because their income has been reduced and they are borrowing money to pay living expenses. Approximately 66%  of Americans are adding debt because they feel confident in their income and ability to pay off their debt. Index spokesperson Jordan Goodman noted that "This trend of Americans living off their credit cards is extremely dangerous."