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Economy

“Average credit card balances jump 10% to a record $6,360, and more consumers fall behind on payments”

February 20, 2024

“…Americans now owe $1.13 trillion on their credit cards, the Federal Reserve Bank of New York reported Tuesday. Balances jumped 10% from a year ago, according to a separate quarterly credit industry insights report from TransUnion, with the average balance per consumer hitting… Continue Reading…

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Economy, Personal Finance

“As emergency savings drop and credit card balances rise, experts say taking 3 steps can help”

May 30, 2023

“Americans have suffered in “declines in overall financial well-being,” according to a new annual Federal Reserve report on economic well-being of U.S. households released last week. Only 63% of all adults can cover an unexpected $400 expense, the report on 2022 found, down from… Continue Reading…

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Personal Finance

“A recent TransUnion report shows personal loan balances are up 31%…”

August 23, 2022

“According to the Q2 2022 TransUnion Credit Industry Insights Report, total personal loan balances have increased by 31% since last year, reaching a record total of $192 billion…” https://www.cnbc.com/select/how-to-get-lower-interest-rate-as-personal-loan-balances-rise/ Now is not the time for loans. You want to reduce your debt as… Continue Reading…

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