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2015 to Reward Consumers With Low Gas Prices, Elevated Stocks

As we wrap up 2014 and head to the New Year, economic conditions for consumers are looking pretty bright and will continue to strengthen into 2015.
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As we wrap up 2014 and head to the New Year, economic conditions for consumers are looking pretty bright and will continue to strengthen into 2015. That's according to a new report from WalletHub.com, which offers a few consumer-friendly predictions for next year. First, they say the economy will grow by 3%, while unemployment will dip to 5%, compared to its current rate of 5.8%. And for stocks, they say the broad S&P 500 will hit 2,250, which is 10% higher than what it's trading at now. Plus, oil prices will dip to $50 per barrel, compared to its current price of $55. Low oil prices are a huge benefit to consumers, which bolsters their spending power. But even with more money from lower gas prices, WalletHub still says Americans will rack up $60 billion in credit card debt over the next year. MainStreet's Scott Gamm shares more details on the report and tips for consumers on staying out of credit card debt.

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