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Economy

“25% of Americans still have holiday debt from last year…”

“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…”

https://www.cnbc.com/2023/11/23/wallethub-25percent-of-americans-still-have-holiday-debt-from-last-year.html

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.

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