Studies and Data Analysis
This data hub brings together NerdWallet’s studies and unique analyses of proprietary and third party data across personal finance and economic topics. Our team of writers, experts and analysts design nationally representative surveys and robust methodologies to gain insight into household finances. These resources are available for use by traditional and online media, influencers and consumers.
In the spotlight
2024 American Household Credit Card Debt Study
It's our annual look at household credit card debt, and senior writer Erin El Issa breaks down the numbers and related sentiment.
The data indicated:
Since 2019, median household income has gone up 21%. During that time, cost increases of food (27%), housing (26%) and transportation (28%) have outpaced that income growth.
48% of Americans who currently have revolving credit card debt say paying for necessities contributed to their balances. But not all debt is made up of essential expenses: 41% say shopping — for non-necessities like luxury goods and electronics — led to some of their debt.
According to the survey, 30% of Americans with revolving credit card debt say they plan to pay it off once they make more money. Interestingly, those with a household income of $100,000+ aren’t any less likely to say this than those who have a lower household income (30%, compared to 29% among those with a household income of less than $100,000).
“It’s hard to feel good about any positive economic news when you’re struggling to afford your expenses,” says Sara Rathner, a NerdWallet credit cards expert. “Debt doesn’t just happen because of frivolous spending. For many, credit cards help fill the gaps when your income isn’t enough to afford necessities. Unfortunately, it can be a very expensive way to get by.”
Read the report and see more of the data, here.
The latest
Recent economic commentary
Elizabeth Renter, Senior Economist
"People remain sensitive to a high inflation period for months and even years after it subsides. That’s largely because the prices rarely come back down. That said, the further we get from high inflation, the better able we are to absorb these higher prices, and that sticker shock fades. Though today’s overall inflation rate was higher than last month’s, it does not indicate a resurgence."
Nov. 13, 2024
Elizabeth Renter is available for media interviews, discussing economic and data topics. Contact [email protected].
The latest columns from Elizabeth Renter
Trending chart
Senior economist Elizabeth Renter recently examined spending data across generations. Read about it here.
Studies and data resources by topic
Credit cards
Money
Banking
Investing
Mortgages
Travel
Loans
Insurance
Small and medium-sized businesses
Our standards
All of our data projects go through a rigorous process before publication. During the planning stage, editors, data writers and analysts, subject matter experts and communications specialists share perspectives and ask tough questions of all potential ideas. We use data from only the most reputable sources, and our methodologies and calculations are all checked and rechecked for sound rationale and accuracy. Our data-driven work also goes through a minimum of three rounds of editing before publication.
Our nationally representative surveys are conducted in collaboration with The Harris Poll. We've been working with The Harris Poll since 2014 to field statistically sound and robust surveys weighted to be representative within age, gender, race/ethnicity, region, household income, education, employment, marital status and size of household where necessary to align with their actual proportions in the population.
Media inquiries
For questions, including requests for data or interviews with our analyst and experts, please contact [email protected].
