Maryland Ranks 6th among the States Where Consumer Debt is Increasing the Most, According to Study


Americans owe more than $2.7 trillion on their auto loans and credit cards alone, and the personal-finance website WalletHub today released its report on the States Where Consumers Are Adding the Most Debt to show where people are having the toughest time. Maryland came in ranked 6th in the country.

WalletHub ranked the states where credit card, auto loan, and personal loan debt increased the most from Q3 2023 to Q4 2023 based on its proprietary data. This report comes on the heels of our recent analysis of the Household Debt Report. Maryland Stats:

  • Overall Rank: 6th
  • Credit card debt: The average credit card balance in Maryland increased by 5.99% from Q3 2023 to Q4 2023, and reached $8,404.
  • Auto loan debt: The average auto loan balance in Maryland increased by 0.60% from Q3 2023 to Q4 2023, and reached $27,075.
  • Personal loan debt: The average personal loan balance in Maryland decreased by 0.14% from Q3 2023 to Q4 2023, and reached $14,782.

For the full report, please visit:
https://wallethub.com/edu/states-where-consumers-are-adding-the-most-debt/133119

National Stats:

  • Year-End Debt: U.S. households ended 2023 with $38 billion more debt than they started with, which is actually an 89% improvement from the prior year.
  • Household Average: The average household owed a total of $146,084 at the end of Q4 2023, only $12,216 below the peak.
  • Total Debt to Deposits Ratio: The ratio between total household debt and deposits has rebounded lately after going down for years, but it is still below pre-Covid levels as well as roughly 46% below the peak from the early 2000s.
  • Total Debt to Assets: The ratio between total household debt and assets has been increasing recently, reaching 10.3% in Q4 2023, but it’s still well below the record.

For the full report, please visit: https://wallethub.com/edu/d/household-debt-report/120725

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AC Milan Soccer Camp at Maryland Soccerplex

AC Milan Academy is hosting a soccer camp at Maryland Soccerplex from March 1st through March 3rd for girls and boys aged 5 to 16 from any club who want to develop their soccer skills and learn the unique methodology of AC Milan directly from AC Milan coaches.

March 1st (Friday) 6pm-7:30pm

March 2nd (Saturday) 6pm-7:30pm

March 3rd (Sunday) 10:30am -12pm and 3:30pm-5pm

Location:18031 Central Park Cir, Boyds, MD 20841

Price: $349 + AC Milan Junior Camp Kit

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