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| Stat Of The Day |
| 13.2% |
They’re calling it "survival debt" – and the numbers back it up. In Q1 of 2026, the share of credit card balances at least 90 days past due hit 13.12%, the highest level in 15 years and the most since the aftermath of the 2008 financial crisis.
The total Americans are carrying on plastic? Just as staggering – $1.25 trillion, up from $1.18 trillion a year ago and the highest first quarter balance since the New York Fed started tracking it in 1999.
As The Wall Street Journal reports, a "one-two punch" of inflation and the highest interest rates in decades is pushing people to the financial edge. If you’re struggling, help is available. Consider reaching out to the National Foundation for Credit Counseling or check out some of the best budgeting methods for paying off debt as quickly as possible. |
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| Ask Jean |
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| Q: |
Should I use home equity to pay down debt? We have quite a bit of equity in our home. Does it raise your monthly mortgage payment? |
| A: |
If you’re carrying high-interest debt and you’ve built up solid equity in your home, tapping into that equity can be a smart move – but there are some factors you need to consider.
Two common ways to do it: a home equity loan (a lump sum at a fixed rate) and a home equity line of credit or HELOC (a flexible line of credit you draw from as needed). Neither will raise your existing mortgage payment because your loan stays exactly as-is.
The upside? Home equity debt typically carries a much lower interest rate than credit cards, which can mean real savings. You may also simplify your life by consolidating multiple payments into one.
Now for the part you can’t ignore: |
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Your home is now on the line: Credit card debt is unsecured. Home equity debt is not. Miss payments, and you could lose your home. |
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The debt doesn’t fix the habits: If your spending patterns don’t change, you risk ending up with both home equity debt and new credit card balances. I’m serious: Past research has shown that 40% of people who use home equity to consolidate credit card debt end up charging their cards right back up. |
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There are closing costs to consider: Expect fees of 2-5% of the loan amount. |
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| To sum it up, this strategy can make sense – but only if the math works out in your favor, and if you’re honest with yourself about what created the debt in the first place, as well as committed to not repeating history. |
| Submit your questions to Jean here. |
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| This Week In Your Wallet |
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Streaming bundles: A deal, or a trap? When one HerMoney staffer recently signed up for Disney+, she was pleasantly surprised to snag Disney+ and Hulu for $11.99 a month (Mickey Mouse Clubhouse for the little one, Tell Me Lies for mom). Turns out, she’s not alone. Bundling is now streaming’s go-to strategy for reducing churn – that’s industry lingo for subscribers who sign up to watch one show, then cancel. "Two years ago, only 10 percent of every new subscription for a major streaming service was for a bundled offering," reports The New York Times. "Now, bundles account for a third of all new subscriptions, and 28 percent of all subscriptions, double the share in 2024." And while bundles can save you money, subscription creep is still very real. Don’t let a seemingly good deal lure you into spending on something you don’t really need.
Got a graduation announcement, but no party invite? Read this before you pop a check in a card. The National Retail Federation estimates spending on graduation gifts will hit $7.2 billion this year. But if you received an announcement and weren’t invited to a party, are you actually obligated to send a gift? Washington Post personal finance columnist Michelle Singletary says no. "If you attend a graduation event, a gift is generally expected. If you are invited but cannot attend, sending a gift is nice, but optional." And while some may disagree, Singletary says the same logic applies to other milestones as well. "Apply this same rule of thumb to other celebrations, including baby and bridal showers, engagement and retirement parties, and weddings," she writes. "If you RSVP yes, a gift is expected. If you can’t attend, a gift is optional. As with graduations, receiving a birth or wedding announcement after the event doesn’t mean you owe them a present."
What’s the right way for couples to split finances? "Fair doesn’t necessarily mean equal," says Kelley Long of the National CPA Financial Literacy Commission – and she’s right. If you and your partner earn different salaries, splitting household bills 50/50 isn’t equitable. Instead, try the "yours, mine and ours," approach: keep individual accounts, then open a joint account for shared expenses. Calculate your combined household costs (housing, taxes, insurance, utilities, etc.), then contribute proportionally to your income. For example, if you earn $100K and your partner earns $80K, you cover 60% of shared expenses; they cover 40%. Set up automatic direct deposits into the joint account, review your statements monthly and build a buffer for when things inevitably change – for example, when the electricity bill is higher than expected. |
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| Things That Save You Money |
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The Best Investing Advice
Fits In One Sentence |
Some people change the way you think about money. Others change the way you think about life – and do it through the lens of money. Jonathan Clements was one of the latter.
The longtime Wall Street Journal personal finance columnist and founder of Humble Dollar passed away in September 2025, leaving behind a final book, "Money and Me: How to Make Your Finances Work Harder for You and Your Family." His dear friend and fellow WSJ columnist Jason Zweig, who wrote the foreword, recently joined the HerMoney podcast to reflect on Clements’ legacy and the lessons he left behind.
In a world of FinTok influencers and prediction markets, Clements believed the best personal finance strategy was also the simplest one. Zweig distilled it into one single sentence.
"Buy and hold a handful of low-cost index funds for the rest of your life and maybe rebalance once a year, or if you have a major life event that justifies it, or the markets move dramatically," says Zweig. "But otherwise, don’t do anything. Just dollar-cost average — keep adding more money every month — and take the time that you save and, of course, the money that you save by not making bad investments, and use it to improve your life elsewhere instead of wasting it on the latest hot fund or prediction markets or whatever other gambling temptation comes along next."
It’s a philosophy Clements had been championing for decades. "He was pounding the table for index funds," Zweig noted, "and he did that for almost 40 years." |
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That said, when it’s time to invest, plan for retirement, or build real wealth, studies show confidence drops. But here’s the thing – it’s not a personal shortcoming. It’s because the financial industry was built by men, for men… and women need something different. Something better.
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Ready to get started? Take this quick quiz to get paired with someone who fits your financial future and your personality. |
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