Fed Data Shows Household Debt Hits $19.1 Trillion as Bill Payers Lose Confidence
By PYMNTS
AI summary of the source article
Federal Reserve data shows household debt reached $19.1 trillion as bill-paying consumers grew less confident about managing debt. Cardholders cited higher regular expenses and expenses exceeding income as the primary reasons for paying balances in full less often.
Key facts
- Federal Reserve data shows household debt reached $19.1 trillion.
- Paycheck-to-paycheck consumers grew less confident last month about managing their debt over the next year.
- Higher regular expenses and expenses exceeding income were the top reasons cardholders gave for paying balances in full less often.
Source excerpt · PYMNTS
Consumers living paycheck to paycheck who were keeping up with their bills grew less confident as recently as last month that they could manage their debt over the next year. Higher regular expenses and expenses that exceeded income were the two most common reasons cardholders gave for paying their balances in full less often. Among […] The post Fed Data Shows Household Debt Hits $19.1 Trillion as…