PERSONAL LOANS/DEBT
Debt knows no generational bounds, yet the strain of financial obligations resonates differently among each age group. When it comes to debt burdens, though, Gen Xers stand out. In fact, Gen Xers have the highest average nonmortgage and mortgage debt of any generation — and their nonmortgage debt is growing. Using more than 150,000 anonymized credit reports on the LendingTree platform in the first quarter of 2023 and 87,000 anonymized credit reports in March 2021, we analyzed debt by generation.
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It’s no secret that owning a home can be expensive. While some homeowners can comfortably manage their housing costs, others are housing cost-burdened and can’t. Generally speaking, those who spend at least 31% of their monthly income on housing costs (including their mortgage payment and other costs like insurance and utilities) are considered cost-burdened.
CREDIT CARDS
Many Americans are no strangers to the financial burden of credit card debt — and as interest rates climbed throughout 2022, that burden grew heavier. In fact, Americans paid an estimated $133.1 billion in credit card interest and fees to banks, credit unions and finance companies in 2022 — a 23.1% (or $25.0 billion) increase from 2021, according to the latest LendingTree study
CREDIT CARDS
A new LendingTree report shows that streaming superusers can earn more than $100 a year by picking the right card, though most Americans will take home far less. And earning those rewards may not be as straightforward as you might like, with earnings caps, caveats and exclusions limiting how lucrative these cards are likely to be.
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To see where million-dollar houses are most common, LendingTree analyzed data from the U.S. Census Bureau’s American Community Survey to find the share of million-dollar homes in each of the nation’s 50 largest metropolitan areas.
