The average American racked up this much holiday debt
January 22, 2019

From the Motley Fool:

The holiday season is often centered on giving and spreading joy, but for many Americans, that means overextending themselves and hurting their finances in the process. During the 2018 holiday season, the average American racked up $1,230 in debt, according to MagnifyMoney. That's a $176 increase from the $1,054 the average consumer racked up the previous year.

Not shockingly, the bulk of this past season's debt came in the form of outstanding credit card balances, with 68% of U.S. adults falling into that unwanted boat. Meanwhile, 14% of Americans took out personal loans to fund their holiday purchases. And let's not forget those good old store credit cards – you know, the ones with notoriously high interest rates. They accounted for 10% of consumers' holiday debt in 2018...

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