US Households’ Debt , Reaches $16.5 Trillion.br 'The Hill' reports that NerdWallet surveyed over 2,000 Americans about debt and finances.br Their findings were released on Jan. 10.br According to the study, the average American household has over $165,000 in debt.br 'The Hill' reports that is a 7.65 national increase from the previous year.br Over the past year, mortgages, auto loans br and overall debt have increased.br Credit card balances carried month to month have also increased, totaling approximately $460 billion.br Credit card debt is often thought to be the result of frivolous spending, but for many Americans, that’s just not true, Sara Rathner, a NerdWallet credit cards expert, via 'The Hill'.br Consumers are feeling the squeeze of higher prices and interest rates, and paychecks just aren’t keeping up. , Sara Rathner, a NerdWallet credit cards expert, via 'The Hill'.br That’s forcing many to make tough decisions, like going into debt to pay for necessities. , Sara Rathner, a NerdWallet credit cards expert, via 'The Hill'.