Americans Now Carry $17.9 Trillion in Debt — Here Are 3 Simple Ways To Protect Your Finances
By Laura Bogart
Americans are known for a lot of things: their ingenuity, their industriousness, their love of adventure — and, oh yeah, their debt. Household debt has reached an all-time high among Americans, with outlets from Bloomberg* to the Federal Reserve Bank of New York** reporting that debt has well surpassed the trillion-dollar mark. No, you didn’t read that wrong — it’s trillion with a “T.” As in, $17.9 trillion.
Of course, middle- and lower-income Americans are feeling the sharpest squeeze. Student loans, car loans and credit card use are leading causes — not to mention housing-related debt — which could have serious impacts on the economy if people fail to pay down what they owe.
If all of this doom and gloom makes you want to bury your head in the sand, no one would blame you. However, playing ostrich is hardly the most effective way to protect, or even grow, your finances in uncertain times. Whether you’re hoping to pay down debt quickly or turbocharge your savings, here are some smart moves to consider.
1. Stop Wasting up to $1,025 a Year on Car Insurance
Odds are, you didn’t drive off with the very first car you looked at. You researched models that fit your needs and lifestyle. Maybe you spent more time than you’d care to admit debating over colors and features. But when it came to car insurance, you likely went with the first option you found.
Now, you’re probably paying far more than necessary for your monthly premiums. Over time, those extra costs could add up to hundreds of dollars a year. To pump the brakes on this excess spending, it’s time to shop for a new insurance plan.
Fortunately, Insurify makes comparing car insurance simple and efficient — and it can save you up to $1,025 a year. On a single platform, you can browse insurance offerings from some of the most respected providers. After entering basic details about your car and background, you’ll receive customized quotes that you can review on your own time and from the comfort of your own home.
There’s room for you on the superhighway of Insurify shoppers who have lowered their yearly premiums by up to $1,025, contributing to over $44 million in collective savings every year. Ready to cut your car insurance bill? It’s easy to get started here and see how much you can save.
2. Get Paid $17 a Day To Play Free Games on Your Phone
Trying to build up your savings while avoiding debt means every side gig is worth exploring — though some are more fun than others. You might be surprised to learn that playing games on your phone during your commute can help you stay ahead of your bills.
That’s exactly what a free site called Scrambly does — the average person earns $17 per day. And when you’re trying to reduce what you put on a credit card, that extra $17 sure does add up. In fact, for many Scrambly users, it adds up to about $500 a month. That could keep you well ahead of your debts, while learning about the coolest new games before anyone else does.
Scrambly works with developers who want to get their games and apps in front of new people, and they’re willing to pay you to try them. When you sign up, you can browse more than 150 free games and apps. Just find one you like and start getting paid.
You don’t need to play long, either — you can earn by playing just a few minutes at a time. And it’s all completely free. In fact, if you make an in-app purchase on a Scrambly-discovered app, they’ll give you cash back.
Once you earn $1, you can cash out instantly via PayPal, Visa, Amazon, Google Play and Apple. More than 2 million people already use Scrambly, and the average person cashes out in just six minutes.
Ready to start pocketing up to $500 a month in extra cash just for playing free games on your phone? Get started here and see how much you can earn. Right now, you’ll even get a 500 coin signup bonus.
3. Grow Your Money More Than 13x Faster
If you’re concerned with protecting your finances, you’ll want to make sure your money is working for you. If you’re keeping your savings in a traditional savings account, it’s probably not doing much for you. In fact, the latest numbers from the FDIC show that the average savings account only pays 0.41% APY.*
If you want to grow your money faster — 13 times faster* — one option you might consider is the Gainbridge® FastBreak™ annuity. You’ll earn up to 5.80% APY** on this annuity, which comes with a self-managed platform and the ability to withdraw your money without a tax penalty before age 59 1/2.
An annuity is a contract between you and an insurance company that promises you a future payout in regular installments, usually monthly and often for life. The Gainbridge® FastBreak™ annuity comes in three to 10 year terms, in premiums of $1,000 to $1 million, and you’re able to withdraw up to 10% of the account value each year.**
The FastBreak™ annuity is self-directed, easy to set up and comes with 30 days to cancel your contract if you change your mind.
Want to start growing your money 13 times faster than if you kept it in a savings account? Get started with the Gainbridge® FastBreak™ annuity to start earning up to 5.80% APY**.
Bottom Line
Just because your fellow Americans are carrying a combined $17.9 trillion in debt, doesn’t mean you have to join their ranks. There are plenty of free and fun ways to earn extra cash in your spare time and access valuable financial tools. Start taking steps today toward a more secure financial future.
**Federal Reserve Bank of New York
*Source: FDIC, national average of savings, week of 1/21/25. Rates subject to change.
**Gainbridge®: Annuity rates are subject to change at any time, and the rate mentioned may no longer be current. Please visit Gainbridge.io for current rates, full product disclosures and disclaimer. Withdrawals above the 10% free withdrawal amount are subject to a withdrawal charge and market-value adjustment. FastBreak™ is issued by Gainbridge Life Insurance Company in Zionsville, Indiana. FastBreak™ is not a tax-deferred annuity; instead, it is taxed annually.
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