Inflation's Impact: Protect Your Credit & Budget
Update: 2025-12-23
Description
Inflation continues to squeeze household budgets, with food, prescription drugs, and apparel prices surging. Total household debt reached a record high of $18.59 trillion in Q3 2025, with credit card balances soaring. Lower and middle-income families, especially younger ones, are feeling the pinch, resorting to credit cards or buy now pay later options. However, there are ways to protect your credit score: check free credit reports monthly, set up autopay, keep credit utilization low, and seek hardship help when needed. Stay proactive to maintain a strong credit score despite rising prices.
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