Americans racked up more than $92 billion in credit card debt in 2017.
You can take this to the bank: Americans are messed up about money.
A slew of new surveys and data have come out revealing that we don’t save enough, we spend money we don’t have, we have our financial priorities backwards — and more. Here are five new stats that prove Americans are backwards about money.
We have record high debt.We’re living on credit:”U.S. consumers racked up $92.2 billion in credit card debt during 2017, pushing outstanding balances past $1 trillion for the first time ever,” according to WalletHub’s latest Credit Card Debt Study, based on Federal Reserve data released in March. What’s more, nearly one in four Americans (21%) say they have more credit card debt than emergency savings, according to data released in 2018 by Bankrate.