Be Careful! Credit Card Balances are Increasing. 

While credit card balances declined significantly during the global pandemic, they are unfortunately trending upward again.

According to the article below, the average household credit card debt rose to $5,474 per credit card user which represents a 13% increase over the same time in 2021.  The article suggests the increase is attributable to the end of government relief payments, a return to normal post-COVID spending levels, and inflation.

https://www.npr.org/2023/01/11/1148122555/credit-card-debt-inflation-interest-rate-payments-federal-reserve

This article may or may not apply to you, but it could be a good idea to forward it along to family and friends. Credit card debt can be sneaky, and we’ve seen it put a damper on a lot of financial plans.