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Home › RSS › Wealth Watch Midyear Outlook: Americans Adjust Spending Strategies to Cope with Inflation, Make Progress on Debt Management

Wealth Watch Midyear Outlook: Americans Adjust Spending Strategies to Cope with Inflation, Make Progress on Debt Management

June 25, 2024 by |

NEW YORK–(BUSINESS WIRE)–New York Life’s latest Wealth Watch survey finds that inflation and credit card debt continue to present challenges for everyday Americans, despite some progress. Forty-three percent of adults report having credit card debt, consistent with the 42% of adults who reported having credit card debt at the end of 2023. On average, adults with credit card debt owe $6,408.39 and contribute $445.27 per month to pay it off, an improvement from the $7,931.80 owed on average at

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