American households are enjoying the fruits of a stronger economy, as they are seeing a higher net worth, and are feeling comfortable enough to increasingly use more credit, according to new data from the Federal Reserve.

U.S. households had a net worth of $82.9 trillion in the fourth quarter of 2014, an all-time high, up 1.9 percent from the third quarter, and 5.2 percent from a year ago, according to the Fed’s “Flow of Funds” data release on Thursday.

Even Americans who didn’t know much about economics learned the word “deleverage” – reducing debt — as the Great Recession took hold. According to the Fed, after 50 years of growth in Americans’ credit, their total liabilities fell for 16 quarters immediately following the recession. But for 12 quarters now, total liabilities have increased, and the fourth quarter of 2014 marked the highest rate of total liabilities since the recession. At an annual rate of 2.6 percent, it’s far less than the 60-year average of 8.3 percent, but it’s enough of a trend to show that Americans are gradually releveraging, said Bob Hughes, senior research fellow at the American Institute for Economic Research.

“Historically, credit growth is consistent with an expanding economy,” Hughes said. Most of this is consumer credit – auto loans, credit cards, personal loans, he said.

Nevertheless, the housing market remains far from robust, he said, with mortgage growth flat.

On the asset side of household balance sheets, bank deposits grew at a rate of 2.4 percent for the quarter, offset by credit market instruments, such as bonds, which fell 2.3 percent. The value of Americans’ equities increased 3.8 percent while mutual fund holdings grew 1.5 percent.

“It’s more signs of healing, or recovery, for the household sector,” Hughes said. In response to the improving economy – including more people finding jobs – this data shows that Americans’ balance sheets are improving, Hughes said. People are gaining more equity in their homes, are saving more money, and seeing their overall assets appreciate in value, he said.