Robert Davis photo
Crystal Davis photo

Robert L. Davis, CPA

Financial Advisor

 

Crystal D. Davis, CFP®

Financial Advisor

 

Davis Financial Services, LLC

Park Place Professional Center

5871 Allentown Road

Camp Springs, MD 20746

 

Phone: 301-702-9300

 

Website: www.davisfinancialsvcs.com

September/October 2020

Debt on the Rise

Debt on the Rise

The New York Federal Reserve found that total household debt balances grew to $14.15 trillion in 2019, the largest annual gain since 2007. Here’s how most of it breaks down:


  • Credit Card Balances - $930 Million

  • Auto Loan Balances - $1.33 Trillion

  • Student Loans - $1.51 Trillion

  • Mortgages - $19.56 Trillion


www.newyorkfed.org/newsevents/news/research/2020/2020021


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