MONEY
According to the Federal Reserve Bank of New York, Americans owe about $1.25 trillion in credit card debt, while total household debt has climbed to a record $18.8 trillion. Credit card delinquency rates also remain elevated, a sign that many families are struggling to keep up with payments. Certified financial planner George Pakounis with Burns Estate Planning and Wealth Advisors said inflation is only part of the reason Americans are falling deeper into debt.