According to a Bankrate survey, close to half of Americans receiving a tax refund this year will use it to pay off debt or boost savings. Bankrate Senior Industry Analyst Ted Rossman joins Yahoo Finance Live to discuss consumer debt trends. Despite inflationary pressures, Rossman says consumers are "hanging in there better than expected." Although mounting credit card debt is a concern, he stresses it's dependent on how balances are managed. Rossman explains there is "a half and half" scenario occurring with many Americans paying debts early to capitalize on rewards, but others whose debt is swelling are suffering under interest costs. Nearly 49% of credit card users are carrying debt over, though overall debt-to-income remains low. Rossman expects consumers to "reign in budgets" this year as debt piles up. For more expert insight and the latest market action, click here to watch this full episode of Yahoo Finance Live. Editor's note: This article was written by Angel Smith

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