From Dow Jones & Company:

Americans are facing urgent pressure to pay down credit card debt in 2024, with $1.08 trillion in credit-card debt and one-third of consumers going into debt over the holiday season. Interest rates and average unpaid balances have increased, making it more expensive for consumers to carry debt. Despite the increasing urgency, saving more money, paying off debt, and spending less are the top three financial resolutions for 2024. To tackle credit-card debt, consumers are advised to closely examine their debt situation, set budgets, establish automatic payments, and use smaller goals to achieve the overall goal of becoming debt-free.



Read more: Trying to get rid of your credit-card debt in 2024? Here’s your action plan.