Record Household Debt: Strategies to Save

Despite record household debt, Americans face limited relief as borrowing costs remain high due to inflation, job market sluggishness, and a cautious Federal Reserve. Non-housing debt, including credit cards and auto loans, continues to rise, while student loans hit a new high. Lower-income families struggle, while first-time homebuyers remain sidelined. Experts advise proactive steps like improving credit scores, refinancing high-interest debt, and using zero percent balance transfer cards to save money.The Daily News Now! — Every city. Every story. AI-powered. Hosted on Acast. See acast.com/privacy for more information.