How a college credit card signup led to $20,000 in debt

Apr 24, 2023
Yanely Espinal, host of Marketplace's podcast "Financially Inclined," tells the story of taking on a financial responsibility she wasn't prepared for.
"I sat down, added up all the credit card debt that I had," Yanely Espinal said. "And it was just over $20,000. That scared me half to death."
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Inflation, high spending propels consumer debt up

Mar 9, 2023
Different types of consumer debt saw a substantial rise in January, according to the Federal Reserve.
Consumer debt, led by credit card spending, has been on the rise in the U.S. in the past few years.
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Credit card debt is rising. Again.

Feb 20, 2023
Card debt, which fell during the pandemic, is at a record $986 billion, according to the New York Fed. Delinquencies are rising too.
Though expanding credit card debt may represent a return to normal, the "pre-pandemic normal ought to concern Americans," says Aaron Klein at the Brookings Institution.
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Americans’ use of credit is growing, but slowing 

Feb 8, 2023
In 2022, consumer credit increased 7.8% from the year before. But in December, the growth in borrowing decelerated.
Consumer credit increased 7.8% last year, according to recent Federal Reserve data. But some Americans appear to be getting more cautious about debt.
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Study details young people's struggles to keep pace with debt payments

Dec 16, 2022
About 20% of young adults with a credit report have debt in collections, report shows. As a group, they may face higher borrowing costs.
A study from the Urban Institute discusses the financial problems of many young people who have auto loans.
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Americans are saving little — while they spend up a storm

Dec 1, 2022
The personal saving rate declined in October to its lowest point since 2005. "A lot of people are close to the edge, unfortunately," an analyst says.
Consumers are increasingly dipping into their savings to pay for things — including basic expenses.
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Black Friday riddle: Consumers are financially stressed, but still spending

Nov 25, 2022
Their debt levels are rising as the holiday shopping season ramps up. It helps that unemployment is low.
Black Friday shoppers take a moment to rest in massage chairs at the Opry Mills mall in Nashville, Tennessee.
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Credit card debt is back up to pre-pandemic levels, says Equifax report

Nov 7, 2022
Here's why it's rising, and what it says about consumers' finances.
Credit card debt is on the rise.
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Credit card debt is up 13% from last year, New York Fed reports

Aug 3, 2022
That’s the biggest year-over-year increase in 20 years. Inflation is just part of the reason.
Credit card debt increased by 13% over recent months as consumers go back to pre-pandemic spending habits, like going to restaurants or traveling.
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We're saving less. Will we spend less?

Jun 14, 2022
After reaching a record high of nearly 34% early in the pandemic, the savings rate has dipped below its pre-pandemic level.
Travelers board a train in Washington, D.C. Partially fueled by pent-up demand for services, consumers are spending down their savings.
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