Average American Household Debt Continues to Climb

American debt is still on the rise.

According to NerdWallet’s Annual American Household Credit Card Debt Study, U.S. consumers now owe $12.35 trillion in total debt, and the average household with a credit balance owes $16,061 on its cards alone. However, that doesn’t mean the world is ending.

“But this doesn’t mean Americans are doomed to be indebted for life. Careful spending and steady debt eradication can go a long way toward getting people to financial freedom.”

To see the full study, visit NerdWallet by clicking here.