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Tag: credit card debt

American Wealth Declined in Q3

According to a recent Federal Reserve report, US household wealth experienced a significant decline in the third quarter, largely attributed to deep stock losses....

Credit Card Debt on the Rise

Credit card debt in the US spiked to its highest quarterly level in Q4 2022 after increasing by $85.8 billion. The average American household has about $10,000 in...

Credit Card Debt on the Rise

The various handouts and moratoriums during the pandemic drove the personal savings rate down to World War II levels. Everything was closed – there weren’t many...

Most Americans Will Die Penniless

It is a depressing reality, but around 73% of Americans will die with debt, according to a 2016 poll by Credit.com. The average amount of outstanding debt at the...

The Psychology Behind Consumer Spending and Hedonic Adaptation

Consumer debt in the US reached $14.88 trillion in 2020, according to Experian’s consumer debt study. That is a $3 trillion increase in the past decade, and...