(WTNH) – Are you swimming in more credit card debt than you’re used to? If so you’re not alone.

Soaring inflation is forcing millions of households to stretch their dollars further by putting charges on their credit cards. Americans carry an average of $6,000 in credit card debt. In May of this year, Americans had a collective balance of $856 billion, up from $757 billion in May 2021.

“We’re starting to see credit card debt moving up. we’re also starting to see that savings that have been accumulated over the past couple of years during the pandemic start to run down,” said Greg McBride, Chief Financial Analyst, at Bankrate.com.

According to Bankrate, more than one in three Americans have less emergency savings now than a year ago. And Moody’s Analytics calculates that American households are spending an additional $341 a month to purchase the same goods and services compared to 2021.

The rising prices are upending the budgets of millions, nationwide.

“Inflation is hitting low and moderate-income households the hardest, and that credit card debt is going up at a time that interest rates are also going up,” said McBride.

In this economy, there is little room for error, and for many, getting out of debt can seem overwhelming.

Viral TikTocker Lily R. in budgets said she racked up more than $20,000 in credit card debt while attending nursing school, but managed to pay it off by using a technique called cash stuffing.

“Cash stuffing is essentially taking all of your spendings that you would do, like on a credit card or debit card, for example, and using strictly cash,” said Lily. “And basically, it’s just a way to keep yourself more disciplined and stay within a budget rather than just swiping a card recklessly.”