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If you find it hard to believe you’ll ever be debt-free, you’re certainly not alone. You’re in the same boat as around two-thirds of Americans.
The survey, which sampled 1,114 adults in December 2017, was conducted online by YouGov for CreditCards.com.
It found that credit card debt is the biggest problem, with 35% of those with a credit card believing they’ve dug themselves into a hole.
But consumer credit is increasing across all debt classes.
In fact, in the fourth quarter of 2017, household debt hit a new record high of $13.15 trillion, according to a report from the Federal Reserve Bank of New York. Balances on mortgages, auto loans, credit cards and student loans all climbed.
Interested in learning more about debt and becoming debt-free? Check out this infographic:
Pamela Sisson is a graphic designer with more than 15 years of experience. She's also a freelance photographer, writer and the founder of Reinvent, a New York-based brand and creative studio. Working out of New York, Pamela spends her spare time in the startup world and practicing table tennis at SPiN.