Credit Card Debt: America's $1.13 Trillion Problem The average American is now shouldering a historically high level of credit card debt. As reported by the Federal Reserve, the total amount owed rose to $1.13 trillion in the final quarter of 2023. This staggering figure is mirrored by the fact that nearly 170 million consumers are currently carrying a balance on their credit cards, highlighting a widespread financial challenge, according to TransUnion. Understanding the magnitude of one’s own debt is a crucial step towards devising a strategic plan to address and mitigate this financial burden, underscoring the importance of personal financial awareness and proactive management. « Previous Article Next Article » Share This Article Choose Your Platform: Facebook Twitter Google Plus Linkedin Related Posts The economy might be booming, but housing is in a recession: Top real estate CEO says he’s never seen anything like it in 20 years READ MORE Powell Warns ‘The US Is on an Unsustainable Fiscal Path’ READ MORE Gold & Silver Confiscation: Can the Government Seize Assets? READ MORE A Comprehensive Guide to Gold Coins: Investing in Canadian and International Options READ MORE Despite High Inflation Reports, Fed's Barkin Eyes Future Rate Normalization with Caution READ MORE Add a Comment Cancel replyYour email address will not be published. Required fields are marked *Name * Email * Save my name, email, and website in this browser for the next time I comment. Comment
