A new analysis conducted by WalletHub shows which retailers are offering the best discounts for this year’s Black Friday.
Read MoreNew Analysis Reveals Retailers with Best Discounts This Black Friday
Tag: WalletHub
Report: Virginia Ranks ‘Best State for Teachers’
Virginia is 2023’s best state for teachers, according to a study conducted by personal finance website WalletHub.
WalletHub ranked states by 24 weighted metrics in two major categories: Opportunity and competition and academic and work environment. Virginia placed first for the former and eleventh for the latter, but opportunity and competition was weighted more than twice as heavily as academic and work environment because “competitive salaries and job security are integral to a well-balanced personal and professional life,” according to the study.
Read MoreU.S. Household Debt Rises Sharply
Household debt across the country is sharply on the rise, with U.S. households now collectively on the hook for about $17 trillion in total. The average family holds about $142,680 in debt, according to a new WalletHub report.
All told, the personal finance website concludes that 2022 ended with Americans roughly $320 billion more in total debt than they were at the start of the year. During the fourth quarter alone, consumers added at least $398 million in new debt, the fourth highest build-up for a fourth quarter over the past two decades and more than four times larger than Q4 2021.
Read MoreReports: As Inflation Rose in 2021, So Did Americans’ Credit Card Debt
As inflation rose last year to a 40-year high, Americans’ credit card debt also soared, according to analyses published by the personal-finance website WalletHub.
In its Credit Card Debt study, Wallethub found that consumers racked up $87.3 billion in new debt in 2021. During the fourth quarter of 2021, debt increased by $74.1 billion, the largest increase ever reported, Wallethub notes. It was also a 63% larger increase than the post-Great Recession average for a fourth quarter.
By the end of 2021, the average household credit card balance was $8,590. “That’s $2,642 below WalletHub’s projected breaking point,” the report states.
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