Williamson’s Notes: Drowning in Debt
Americans just hit a staggering financial milestone—but not the kind we celebrate. Household debt has reached an all-time high of $18.04 trillion, with credit card debt alone soaring past $1.21 trillion. For many, these numbers are just another headline. But for the thousands of families living paycheck to paycheck in Southeast Louisiana—families we call ALICE (Asset Limited, Income Constrained, Employed)—this isn’t just data. It’s reality.
For ALICE households, debt isn’t about overspending or poor financial choices. It’s about survival. It’s the medical bill that couldn’t wait. The rent that had to be paid. The car repair that was the only way to keep a job.
The rising cost of living has made it nearly impossible for many working families to cover basic needs without relying on credit. And as interest rates climb, the burden of that debt only gets heavier, trapping families in a cycle that’s hard to escape.
At United Way of Southeast Louisiana, we believe financial stability shouldn’t be out of reach for those who work hard every day. That’s why we’ve built solutions that don’t just offer temporary relief—but real, lasting change.
United Way’s Prosperity Centers: A Pathway Toward Stability
Our Prosperity Centers provide an array of free programming and resources to help families break the cycle of debt and build brighter futures.
We’ve seen the power of this work in action through people like Catera.
While working hard at a local childcare center, Catera discovered our Individual Development Account Project, a 4:1 matched savings program. Her goal was to save for college and pursue a business administration degree. With the help of our Prosperity Center’s expert staff, Catera learned how to budget and took financial capability classes. She made regular deposits to her IDA account, and with the 4:1 match, she didn’t have to go into extreme debt to turn her dream into a reality. She got her college degree and has gone on to being a long-term employee on our United Way team.
Most recently, Catera was on the front lines assisting hospitality workers impacted by the New Year’s Day attack on Bourbon Street, ensuring they had access to emergency financial assistance.
Her story proves what we’ve always believed. When you give people the right tools, they don’t just survive—they thrive.
A Call to Action: We Must Do More
Let’s be clear. Debt at this scale is a community issue. It affects our workforce, our economy, and the future of our region. If we want Southeast Louisiana to grow and prosper, we must ensure that every person—not just those at the top—has a real chance at financial stability.
At United Way, we’re committed to expanding our Prosperity Centers, advocating for fair financial policies, and ensuring ALICE families have the resources they need to build wealth instead of debt.
But we can’t do it alone.
If you’re struggling with debt, know that help is available. Reach out to a United Way Prosperity Center today. If you’re in a position to support this work, invest in real change. Every dollar given to United Way goes toward solutions that break cycles of poverty and create lasting financial security.
We have a choice. We can accept this record-breaking debt as the new normal, or we can take action to ensure every household has the opportunity to build a future free from financial hardship.
At United Way, we choose action. Because United is the Way forward.
Living United,
Michael Williamson
President & CEO
United Way of Southeast Louisiana