36% of Americans took on holiday debt this year — averaging $1,181 — survey finds. These tips can help.
Many Americans are capping off the holidays with new debt balances.
Many Americans are capping off the holidays with new debt balances.
This season, 36% of American consumers took on holiday debt, according to a new survey from LendingTree.
Those who racked up balances this season took on an average of $1,181 in debt, up from $1,028 in 2023. However, that is still down from $1,549 in 2022, LendingTree found.
Less than half — 44% — of the people who took on debt expected to acquire those balances, a sign that this holiday season is still financially challenging for many people, according to Matt Schulz, chief credit analyst at LendingTree.
Higher prices caused by inflation remain an issue for many individuals and families this holiday season, he said.
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