Many Americans are capping off the holidays with new debt balances. This season, 36% of American consumers took on holiday debt, according to a new survey from LendingTree. Those who racked up balances this season took on an average of $1,181 in debt, up from $1,028 in 2023. Higher prices caused by inflation remain an issue for many individuals and families this holiday season, he said. Consumers who went into debt over the holidays run the risk of still carrying those balances when next year’s holiday season comes around.

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Persons: LendingTree, Matt Schulz, ” Schulz, WalletHub, Schulz, Laura Mattia, ” Mattia, “ There’s, Mattia, Jesse Sell, “ It’s, ” Sell, Sell, “ Organizations: LendingTree, Consumers, Wealth Locations: LendingTree, Sarasota , Florida, —, Stillwater , Minnesota