> By most estimates, only about 10-20% of US households are debt-free.
This needs to be qualified with the fact that it doesn't make sense for many people to be debt-free if they are financially literate. I know many people, myself included, who carry debt they could easily pay off because it would be irrational to do so. Being debt-free would actually make them poorer.
This often holds true even when ignoring obvious cases like debt interest well below the Treasury rates.
This needs to be qualified with the fact that it doesn't make sense for many people to be debt-free if they are financially literate. I know many people, myself included, who carry debt they could easily pay off because it would be irrational to do so. Being debt-free would actually make them poorer.
This often holds true even when ignoring obvious cases like debt interest well below the Treasury rates.