In America today, massive amounts of consumer debt are taken for granted, with little attempt to reduce the amount of personal debt. This attitude affects not only individuals but also their friends, families, and communities.
For example:
» About 66% of students who earned four-year degrees in 2017 took out loans and owed $28,500 when they got their caps and gowns ("Demographics of Debt")
» Americans are twice as likely to have accumulated $5,000-$25,000 in debt (33%) rather than personal savings (17%)
» Two in 10 people allocate a staggering 50%-100% of their income towards debt repayment ("Planning and Progress Study 2018")
» 1 in 10 (13%) Americans say they will be in debt for the rest of their lives ("Planning and Progress Study 2018")
» 60% of American adult population has credit card debt ("Debt Reaches New Highs in 2019...")
Therefore, the purpose of this campaign is to encourage people either to work at reducing (and hopefully eliminating) their debt or to avoid getting into the cycle of debt in the first place.
