Total household debt rises in the U.S. -- Expert gives advice on how to get out of debt
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YouTubeClick On Detroit | Local 4 | WDIV
Total household debt rises in the U.S. -- Expert gives advice on how to get out of debt
According to the Federal Reserve, total U.S. Household debt rose to more than $18 trillion in the first quarter of 2025. Only 51% of people say they spent less than their income in 2024. In Detroit, the average home has credit card debt of more than $10,000.
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Americans’ household debt levels – including mortgages, car loans, credit cards and student loans – are now at a new record high, data shows. Total household debt reached $18.59 trillion from July through September of this year, up by $197 billion from the previous quarter. Overall debt levels are up by $4.4 trillion since the end of 2019, just before the pandemic recession. Read more at link in bio. https://abcnews.link/p3MWGJ5 | ABC News
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