The U.S Debt

Have you ever wondered how the United States got into so much debt? and Why it has remained so large?

If you’re like most financially forward thinking American’s you’ve probably wondered how a debt so large could have ripple effects that would impact the average american.

As it stands right now, the United States in debt for over $18 Trillion. In fact, this amount is the largest debt in the world for a single country. How’s that one for super power, huh?

A good portion of our national debt is owed to, wait for it… it’s own government. This is owed to social security and other trust funds. A shocking and disturbing fact is that this debt amount is nearly as much as the United States produces annually.

So How did us American’s Get in So Much Debt?

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Get Out of That Debt

* Please Note: This is a Guest Post By John Jameson. Owner of his own Nassau County, NY Company, and Debt Blogger. The views and opinions expressed in this post, while are respected by SBF, are not solely reflective of our overall views.

Getting out of debt can be a daunting task. The endless calls from bill collectors, the monstrous interest rates, the overwhelming anxiety of living check to check.

It becomes a lot for anyone to handle. From my own experience getting out of debt isn’t based on one singular action – like saving money, while saving money can definitely help this is just one tactic that is part of a bigger plan.

See getting out of debt will take a series of strategies, because lets face it we all want to get out of debt but no one really has a plan.

I use to float around paying random bills and completely ignoring others. Now in theory this sounds bad, but I was actually on to something and I didn’t even realize it.

This taught me to prioritize my bills. Not all debt is created equal, the fact is some debts are more important than others and they need to be prioritized.

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3 Ways to Better Manage Debt


If you are anything like the class of 2015, then you know that debt is real, ugly, and its become a part of American Society. I read an article today that stated this graduating class will have an accumulated average debt of over $45,000. Thats just absurd.

So I decided we needed to make a quick tips article about how to better manage this insane amount of debt.



  1. Make an excel Spreadsheet with all of your monthly expenses, any current revenue, and a section for the amount in student loans you have. This will become your first step in “budgeting.” You are now able to visually understand where your money is going, how much, and what you can and cannot afford to spend on during the month.
  2. Cut back on unnecessary expenditures. You may have to readjust your budget to include more money for debts, and less for outings, dinners, and just random expenses. This comes with some sacrifice but when those loans are paid off, you’ll feel like a free person just released from the clutches of the banks.
  3. Take on extra work. Any way that you can find additional revenue will be beneficial to your long term financial goals. More money should equal less debt. So if you are able to pick up a couple extra shifts, a few extra hours, or even a second part time job, then I think you should go for it. A lot of this will be daunting at first, and require sacrifice but I will keep stressing that it’ll pay off in the end. Literally!

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The Debt Disease

Disclaimer: I can Only Speak about the problems here in the United States, Because that is what I am most educated in.

Now that the disclaimer has been stated, I’d like to discuss what I feel has become the #1 Disease in the World – Debt.

Debt has consumed almost every single Americans Lives. It is enormous and steadily growing every single day. We are engulfed in credit card offers, bank loans, mortgages, personal loans, pay day loans, peer to peer loan, and student loans, which may be the worst offender of them all!

More and more students are becoming victims to insurmountable amounts of debt. I firmly believe this is one of the biggest contributing factors as to why more and more college graduates are choosing to stay home longer with their parents, and foregoing home ownership.

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