Noon Edition airs on Fridays at noon on WFIU.
The U.S. household debt total increased to over $16 trillion in the second quarter of this year, according to the Federal Reserve Bank of New York. Mortgage balances increased by $207 billion, credit card balances increased by $46 billion, and auto loan balances increased by $33 billion, according to the same source.
Despite the increase in U.S. household debt, Indiana remains on the lower end of the debt-to-income ratio in 2022 standing at 1.232 according to Board of Governors of the Federal Reserve System. However, some Indiana counties are struggling. Brown County’s debt-to-income ratio stands at 5.221 and Morgan County’s stands at 4.076. Monroe County’s debt-to-income ratio stands at 1.181.
Many are worried how much more household debt will rise before the year is over.
We will talk about household debt and what Indiana residents should know with our guests this Friday.
You can follow us on Twitter at @NoonEdition or join us on the air by calling 812-855-0811 or toll-free at 1-877-285-9348. You can also send questions for the show at email@example.com.
Kate Bulger - Senior Director of Business Development for Money Management International
Greg Geisler - Clinical Professor specializing in taxes, financial planning, and personal finances for the Kelley School of Business at IU
Phil Schuman - Executive Director of Financial Wellness and Education and Senior Director of Financial Literacy at IU