Chicago, IL, Tax Professional Shares Thoughts On Credit Card Balances For Younger And Older Generations

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 extensive knowledge of the tax code helps people maximize their returns and minimize tax debt. He also offers fiscal planning strategies to help people manage debt.

Jeff Badu is a certified public accountant offering tax preparation services in Chicago, Illinois. His website offers additional information for interested clients. Visit www.badutaxservices.com to learn more or to schedule a consultation.

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