• 2 days ago
Holiday spending in the U.S. is set to reach record levels despite record-breaking credit card debt. The National Retail Federation estimates spending during the holiday season will total over $900 billion, driven by wage gains, modest inflation, and consumer confidence. LendingTree reports that over a third of shoppers incurred an average of more than $1,100 in holiday debt, up from last year. With average credit card interest rates exceeding 20%, paying off debt could stretch well into 2025, impacting financial goals and necessities.
Transcript
00:00It's Benzinga bringing Wall Street to Main Street.
00:02Holiday spending in the U.S. is set to reach record levels despite record-breaking credit
00:05card debt. The National Retail Federation estimates spending during the holiday season
00:10will total over $900 billion, driven by wage gains, modest inflation, and consumer confidence.
00:17Leadingtree reports that over a third of shoppers incurred an average of more than
00:20$1,100 in holiday debt up from last year, with average credit card interest rates exceeding 20%.
00:25Paying off debt could stretch well into 2025, impacting financial goals and necessities.

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