Hey there! Did you know that in 2024, people in the United States owed over $1 trillion on their credit cards? 😮 That’s a huge number! On average, each household had nearly $6,000 in credit card debt. That’s more than any other country in the world! For example, in Japan, which is in second place, the average is less than half of that amount.
But here’s some good news! A new survey shows that many Americans are making it their top goal to reduce their personal debt in 2025. And even better—they feel optimistic that they can do it! 🎉
Reducing debt means paying back the money they owe. People are planning to spend less and save more so they can pay off their credit cards. It’s like when you decide to save your pocket money to buy something special instead of spending it right away.
Feeling optimistic means they’re hopeful and confident. Just like when you practice for a game or a test and believe you can do well. Americans are believing in themselves and their ability to manage their money better in the coming year.
It’s important to be smart with money, whether you’re saving up for a new game, a bike, or even college one day! Learning to manage money wisely is a great skill to have. Maybe you can talk to your parents or teachers about how to save and spend wisely. 💡
Reference(s):
cgtn.com
