Consumers are taking on more debt this holiday, even as they grow less confident in the economy [CNBC]
TransUnion (TRU)
Last transunion earnings: 4/28 06:50 am
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Source: CNBC
Although consumers are increasingly worried about their financial standing, holiday spending is expected to surpass $1 trillion for the first time in 2025, other reports show. Many borrowers say it could take months to pay down their balances. Every year, Hillary Lanier puts her holiday shopping on credit, racking up debt that takes months to pay off. This season, the production planner said her total balance across four credit cards is in the five-figure range. “It's definitely higher prices,” she said. Lanier, who buys gifts for her parents, grandparents, siblings, friends and coworkers, said it could take her nine to 10 months to pay down the balance — just in time for next year's holiday season. “I've tried to be conscientious and sticking to my budget, but it's a very vicious cycle,” said the 32-year-old, who lives in Charlotte, North Carolina. Hillary Lanier, 32, lives in Charlotte, North Carolina Courtesy of Hillary Lanier In fact, 37% of Americans racked up holida
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