“25% of Americans still have holiday debt from last year…”
December 6, 2023
“For some shoppers, the upcoming holiday season may lead to piling on more debt. About 25% of Americans are still paying off holiday debt from 2022, according to WalletHub’s November holiday shopping survey…
As of November, the average credit card interest rate has risen from around 16% to nearly 21% since the Federal Reserve began raising interest rates in March 2020 in an effort to combat inflation, according to Bankrate…”
Cut back on spending. If these people don’t eventually they will be forced to. That’s not a situation they want to be in.