Household Income by Nick Youngson CC BY-SA 3.0 Pix4free.org Household debt continues to rise as Americans keep spending. Increases in the cost of living have outpaced salary growth, while elevated interest rates have added to the strain. The elimination of Biden-era benefits and loan forgiveness programs has also weighed heavily on many households that had grown accustomed to government relief and easy credit. Total U.S. household debt reached a record $18.59 trillion in Q3 2025, an increase of $197 billion from the previous quarter. Household debt is distributed across several categories, with mortgages making up the largest share. Mortgage balances rose by $137 billion to $13.07 trillion, while credit card balances climbed by $24 billion to $1.23 trillion, an all-time high, nearly 6% higher than a year earlier….
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