Credit card debt in the U.S. just surpassed one trillion dollars and payment delinquency rates are also on the rise. One factor that’s feeding into these increases are a growing amount of credit card accounts. The Federal Reserve Bank of New York reports that there are 70 million new accounts since 2019. This week – we discuss the effects of escalating debt and how listeners can start taking back control.
Guest Information:
- Chloe Elise, certified financial coach, author, Deeper Than Money.
Links for more info:
- Market Watch: Credit-card debt hits $1 trillion — that milestone comes at a very tricky time
- Amazon: Deeper Than Money: Ditch Money Shame, Build Wealth, and Feel Confident AF
- CNBC: Here’s how much of your monthly income should go toward debt repayment
- Consumer Financial Protection Bureau: What do I need to know about consolidating my credit card debt?
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