Accounting services Chicago IL

The credit card is a tool most people cannot live without. The ease of getting a card coupled with the ease of its use means many people sign up for them willinginly but forget the most important part of having a credit card. “The bill comes due, and many people struggle to make even the smallest payment. This means carrying a balance, which will take years to pay off at the smallest amount,” said Jeff Badu, a  tax accountant working in Chicago Illinois . Badu notes in particular the amount of debt each generation carries. Generation X currently has the largest amount followed closely by the baby boomers. What is more troubling, however, is younger generations are closing the gap of debt. Younger generations are increasing their credit card debt faster than any other generation. There are likely a few reasons for this, including the pandemic and the job market. Badu’s  accounting services in Chicago, Illinois , also cover fiscal planning. He can help credit card holders with t...

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Credit cards and debt usually go hand in hand. Many people cannot survive without a credit card and drive up the balance to enormous amounts in the process. Jeff Badu is a  tax professional working and living in Chicago, Illinois . He recently posted a rather alarming blog post on his Broadridge Advisor page. He noted the balance growth of a credit card holder is growing faster for newer generations than for the older ones. Generation X still carries the largest amount of debt as a whole, but the younger generations amounts are catching up and quickly. The overdependence on credit could prove difficult or disastrous in the future. “There are likely some good reasons for this,” said Badu, “the pandemic certainly had a hand in it, as has the recession. The numbers are still worth considering and planning on what to do about the debt is even more important.” As a professional  CPA in Chicago, Illinois , Badu offers a variety of solutions for debt, including credit card debt. His ...