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Thanks for joining us here on the Clark Howard Show where it's about you learning ways to keep more of what you make.

Clark.com is our website and our deal site. If you've seen it yet, I'm so proud of our deals crew.

ClarkDeals.com to help you save money day in and day out. Coming up in 20 minutes.

Are you a Yelper? Do you post on TripAdvisor or any of the review sites?

Do you read reviews or do you look for ratings? Well, I've got new information for you so you can protect your wallet and coming up in a half hour.

Do you know you now have the ability to do a genetic test to see what catastrophic illnesses you're vulnerable for?

I'm going to tell you the details and the information's information. Some people can handle. Some people can't.

Here's something that is a milestone. I don't think we should be excited about. We have hit a trifecta of financial insecurity in the United States.

We now have exceeding $1 trillion in credit card debt, $1 trillion in student loan debt, $1 trillion in car loan debt or vehicle debt.

Now, I know there's been some inflation, but I don't know that there's been a time in history that we had all three of these kinds of debt anywhere near past $1 trillion in the student loan debt is now at about a trillion and a half.

I've got a lot of data from the Federal Reserve and this is pricing your life for perfection.

I told you just about six weeks ago that default rates on car loans were climbing significantly. The default rate on student loans well known and delinquencies on credit cards rising.

Here's what's happened. Lenders after tightening so much the lending standards last decade after the banking scandals. Now I've gone the other way, the pendulum swings.

Now borrowing money is ultra easy. Listen to this. I just read an item that it's not unusual for people in their 20s and 30s to have an excess of 20 credit cards.

Now what's ironic about that is that in the aftermath of the banking scandals last decade and the great recession they led to and all that there was all this talk about how people in their 20s and 30s were afraid of debt wouldn't take on debt and would use only cash or debit cards.

Well that sure has changed as far as having credit cards, having a car loan, having student loans, all three in moderation are just fine. The problem is for us is that a lot of us have trouble staying moderate with it.

You know with credit cards, roughly depending on who stats you believe, roughly between 33 and 40% of people pay their credit cards in full every single month.

The same time somewhere more than a third of people are always running a balance and the other somewhere 25% to third of people whatever that remaining number would be tend to owe a balance some months and pay off their balance is other months.

But if I'm speaking to you and you're always running a balance on your cards and let's say you have a car loan that you took out that's longer than three and a half years should be most car loans.

And then gosh if you have student loans on top of that there's real danger to you with your wallet and I need for you to be aware of that and really think through how you use money when you borrow how much you want to pay.

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