That’s the biggest year-over-year increase in 20 years. Inflation is just part of the reason.
After reaching a record high of nearly 34% early in the pandemic, the savings rate has dipped below its pre-pandemic level.
Even though they're pessimistic about the economy and economists worry about a recession.
Credit Counselors can work with banks to bring down interest rates in order to get debt paid off.
Americans have a $860 billion credit card balance, according to the Federal Reserve Bank of New York.
Survey finds that people 40 and under are more likely than those who are older to have more credit card debt now than they did a year and a half ago.
Banks are already stepping up marketing campaigns to try to get more consumers to use their services.
More than half of Americans say their emergency savings could pay off their credit card debt, according to a recent poll.
Government relief checks helped.
It's good news for our personal economies, but it means we're not spending as much to prop the economy as a whole.