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Households reaching their financial breaking point shouldn't be afraid to ask for help
Published 3 weeks, 4 days ago
Description
With total U.S. household debt hitting a record $18.8 trillion and persistent inflation pushing the personal savings rate down to a razor-thin 3%, millions of Americans are finding themselves in over their heads. From Gen Z young adults drowning in credit card bills to families getting trapped by consolidation loans, demand for nonprofit credit counseling has soared to a decade high. Newell is joined by Ted Rossman, Principal Consumer Finance Analyst at Money Management International, to unpack why so many households are reaching a breaking point, how AI platforms like ChatGPT are emerging as an unexpected lifeline for debt help, and the proven steps you can take today to slash high interest rates and regain control of your wallet.