Credit card debt is on the rise. What does that mean for the average person?

Answer: $7,236

Questions:

• Are you surprised by the amount of credit card debt people carry? Why or why not?
• What are some consequences of carrying a credit card balance from month to month?
• What are some strategies you can use to pay your credit card bill every month?

Click here for the ready-to-go slides for this Question of the Day that you can use in your classroom.

Behind the numbers (Lending Tree):

"Credit card balances have risen by $441 billion since Q1 2021, when credit card debt bottomed out at $770 billion during the pandemic. That’s a 57% increase in less than four years. Americans’ credit card debt is $284 billion higher than the pre-pandemic record set in Q4 2019, when balances stood at $927 billion. (That’s a 31% increase.) However, thanks to still-sky-high interest rates, stubborn inflation and myriad other economic factors, credit card balances are likely only going to climb."

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For more credit-related resources, check out the Managing Credit unit page!

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Looking for a fun way to let students practice managing their credit? Play Credit Clash!

About the Author

Kathryn Dawson

Kathryn (she/her) is excited to join the NGPF team after 9 years of experience in education as a mentor, tutor, and special education teacher. She is a graduate of Cornell University with a degree in policy analysis and management and has a master's degree in education from Brooklyn College. Kathryn is looking forward to bringing her passion for accessibility and educational justice into curriculum design at NGPF. During her free time, Kathryn loves embarking on cooking projects, walking around her Seattle neighborhood with her dog, or lounging in a hammock with a book.