Minnesotans' Debt Load Climbs as Living Costs Outpace Pay

Consumer debt is rising again after a pause early in the pandemic, with total debt per capita in Minnesota reaching $62,680 in Q4 2022.

Delinquency rates are going up, especially for credit cards and auto loans, signaling increased financial stress.

Higher expenses amid stagnant wages means more people are relying on debt to get by.

Interest rate hikes have made revolving debt like credit cards more sensitive and difficult to manage.

Managing debt causes anxiety and burnout, even for those earning the most they ever have.