There are proven strategies that can help you pay off your debt by breaking the process down into approachable steps. Here are some of the best practices for reducing spending and

Collectively, Americans now owe a record $1.21 trillion on their credit cards, according to a new quarterly report on household debt from the Federal Reserve Bank of New York. Credit card balances jumped by $45 billion in the fourth quarter of 2024, driven in part by holiday spending, and are now 7.3% higher than a year ago.

Americans Struggle With Record Credit Card Debt U.S. credit card debt reached a record $1.17 trillion in the third quarter of 2024, growing from $770 billion in the first quarter of 2021 and the share of active credit card holders making just minimum payments rose to 10.75%, the highest percentage ever in data going back to 2012. [ The Guardian]

Americans’ total credit card balance hit a new all-time high of over $1.2 trillion, according to a new report from the federal Reserve Bank of New York.

High interest rates, stubborn inflation and continued consumer spending are among the factors that have lifted collective credit card debt to an all-time high of $1.21 trillion, a