Many Americans are starting 2025 with holiday debt, as 36% of consumers took on balances averaging over $1,100, according to LendingTree. LendingTree's Matt Schulz attributes the trend to high inflation and a desire to spread joy after a difficult year. Less than half anticipated that they would incur holiday debt highlighting ongoing financial challenges for many. Parents of young children, millennials, and middle-income earners were the groups most likely to incur holiday debt this season, according to LendingTree. Experts suggest strategies like 0% balance transfer cards or debt consolidation loans to manage these balances.
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00:00It's Benzinga bringing Wall Street to Main Street.
00:02Many Americans are starting 2025 with holiday debt, as 36% of consumers took on balances
00:07averaging over $1,100, according to LendingTree. LendingTree's Matt Schultz attributed the trend
00:13to high inflation and a desire to spread joy after a difficult year. Less than half
00:17anticipated that they would incur holiday debt, highlighting ongoing financial challenges for many.
00:22Parents of young children, millennials, and middle-income earners were the groups
00:26most likely to incur this debt. Experts suggest strategies like 0% balance transfer cards or
00:32debt consolidation loans to manage these balances. For all things money, visit Benzinga.com.