High inflation already sparked a surge in credit card debt, but now data shows consumers are increasingly using 'buy now, pay later' loans for essentials.
Smart shopping expert at ‘TrueTrae.com’ Trae Bodge breaks down her best savings tips and tricks as inflation rates continue to rise on ‘Mornings with Maria.’
With wage gains unable to keep up with soaring prices for necessities, consumers are increasingly leaning on credit to cover the rising costs. The Federal Reserve Bank of New York reported that credit card debt held by U.S. households surged by 13% on an annualized basis in the second quarter, representing the. A recent study by Wells Fargo found that Americans also rely on credit card rewards to offset everyday expenses.
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