Providence Wealth Planning

08/31/2026

U.S. credit card debt is approaching a record high.

Americans’ credit card balances reached $1.26 trillion in the second quarter, rising by $21 billion, according to new data from the Federal Reserve Bank of New York.

That puts credit card debt just below the all-time high of $1.28 trillion set late last year.

Strong consumer spending is one factor behind higher balances. Rising prices for essentials like groceries and gas may also be contributing.

Delinquencies remain a concern. The share of credit card balances more than 90 days delinquent rose from 7.6% to 12.8% from mid-2022 through early 2026.

Total U.S. household debt now stands at $18.8 trillion. Auto loan debt also reached a new high of $1.71 trillion.

For households, rising debt is a reminder that everyday expenses, interest rates, minimum payments, and emergency costs can all affect financial flexibility.


Source:

Americans' credit card debt reached $1.26 trillion, increasing by $21 billion in the second quarter of this year, according to new data.

08/29/2026

🏈 Football is back, and so is everything that comes with it.

A new season means fresh storylines, surprise contenders, and those moments you just can’t script. Whether you’re locked in from the opening coin toss or just showing up for the company and the snacks, game day has a way of bringing people together.

Fire up the grill. Find your seat. The season is here. 💪

08/25/2026

No two investors are the same. Nor are their portfolios.

The strategies that serve someone building wealth at 55 look very different from those preparing for retirement at 65. That's why it's critical to take a multi-layered approach that allows us to use a mix of strategies to pursue your goals.

What mix works best for you?

08/20/2026

🎒📚 Back to School! 🍎✏️

Hey everyone! As the summer sun begins to set, it's time to trade in those flip-flops for some fresh kicks and head back to school. Whether you're starting a new grade, meeting new teachers, or reuniting with friends, this school year is your blank canvas. Let's fill it with laughter, learning, and unforgettable memories. Remember, every day is a new adventure waiting to unfold. Wishing you all a fantastic and successful school year ahead!

🌟

08/19/2026

Take advantage of an independent analysis comparing your current financial strategy with your goals for the future. A second opinion is important for a variety of reasons and it’s one of the most valuable services we provide. Contact us to schedule your free review!

08/16/2026

Long-term care (LTC) coverage allows your retirement plan to be used for its intended purpose—retirement—instead of paying for LTC expenses. Reach out today and we’ll determine what longevity planning options may work best for you.

08/12/2026

For many homeowners, the biggest weather risk may no longer be hurricanes.

New research from First Street found that severe convective storms, including tornadoes, hail, and damaging winds, have become the costliest insured natural disasters worldwide.

In 2025, these storms accounted for one-third of global natural disaster economic losses. Insured and uninsured losses totaled $82 billion, with $68 billion concentrated in the U.S.

Hail is the biggest driver of insurance payouts within this category, followed by severe winds.

These storms tend to move quickly, but they can cause widespread damage to homes, cars, businesses, and infrastructure.

For homeowners, the growing cost of severe weather can show up in more than repairs. It may also affect insurance premiums, property maintenance, emergency savings, and long-term housing costs.

As weather risks shift, it can be worth reviewing coverage, deductibles, and how prepared your household is for unexpected property damage.


Source:

Severe "convective" storms account for roughly a third of global natural disaster economic losses, a new study finds.

08/09/2026

You have hopes & dreams for your future, and you’re relying on your finances to make those dreams come true. Are you confident your money is working as hard as you do? Contact us today and take advantage of our no-obligation “second opinion” consultation.

08/07/2026

Increase your knowledge on wills and estate planning! Check out this resource for expert insights on how to secure your legacy and protect your assets.

Estate planning is a process involving the counsel of professional advisors who are familiar with your goals and concerns, your assets and how they are owned, and your family structure.

08/05/2026

The summer job landscape has dramatically shifted since 1980. Back then, teens and college students flooded the job market during summer break, finding work at theme parks, retail stores, and more. With the minimum wage at $3.10/hr, managers made room for young workers, often allowing them to continue part-time during the school year.

Fast forward to today: Many employers seek full-time availability, with minimum wage at around $7.25/hr. The demand for flexibility is gone, and summer jobs are less economically viable for both businesses and students.

Now, with the rise of unpaid internships, volunteer work, and side hustles, students are building skills and brands rather than just earning money. When you see a young person working this summer, remember they're keeping a vintage tradition alive.

Sources:
Salon, May 26, 2025
Department of Labor, March 2, 2026