56 million Americans have been in credit card debt for at least a year
Americans are increasingly leaning on their credit cards. Altogether, card balances now total $1.08 trillion, according to the latest quarterly report from the Federal Reserve Bank...
62% of Americans live paycheck to paycheck amid inflation
‘Inflation is still too high’ The Federal Reserve is expected to announce it will leave rates unchanged at the end of its two-day meeting this week, even though...
60% of Americans are still living paycheck to paycheck
After a prolonged period of high inflation and higher interest rates, Americans are just getting by. As of August, 60% of adults said they are...
Americans Begin to Feel the Sting of Fed Rate Hikes
Rising interest rates due to Federal Reserve’s decisions are straining American finances. Consumers face higher costs for home and car loans, and existing debts are...
Is there a subprime credit-card crisis on the horizon?
Subprime consumers are falling behind on their credit-card bills. From Generation Z and millennials to Generation X and baby boomers, credit-card delinquency rates have been...
Inflation is still squeezing budgets
Inflation ‘remains too high’ But in recent remarks, Federal Reserve Chair Jerome Powell said inflation “remains too high” despite those positive indicators, and warned that more interest rate...
Here’s why Americans can’t stop living paycheck to paycheck
For many Americans, payday can’t come soon enough. As of June, 61% of adults are living paycheck to paycheck, according to a LendingClub report. In...
They Can’t Even: A Generation Avoids Facing Its Finances: WSJ
Some tune out bank and credit-card balances, lose track of their spending and rack up debt. Average credit-card debt rose 29% to $5,800 in March...
As credit card debt hits new high, households near ‘breaking point’
‘Increase in delinquencies is something to watch’ Delinquencies are already on the rise, TransUnion found. A delinquency is a payment that’s 60 days or more...
Banks Brace for More Consumers to Fall Behind on Their Loans
Delinquencies are rising, in some cases surpassing prepandemic levels, prompting banks to add to their rainy-day funds. [ad_2] Source link...