The Federal Reserve Bank of New York released its quarterly report this week, finding the total household debt in the United States increased by $197 billion, up to $18.59 trillion from the previous quarter.

A WalletHub analysis of TransUnion and Fed data found that average household debt increased by $275 to $975 from the second to the third quarter, depending on the state.

Why It Matters

Household debt is the total amount of money that members of a household owe to lenders, which may include mortgages, credit cards, auto and student loans, and other credit lines. The number shows how much people are relying on credit versus their cash income.

Voters cited affordability and the economy as top concerns in the November 4 off-year elections. Democrats notched key wins in several hi

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