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re: Americans’ credit card debt hits a record $1 trillion
Posted on 8/8/23 at 6:28 pm to JasonDBlaha
Posted on 8/8/23 at 6:28 pm to JasonDBlaha
quote:
No, you don’t have to pay off American Express by the end of the month. They changed it I’m pretty sure
Probably like 20 years ago. That's basically when I stopped paying attention to shite
0
Posted on 8/8/23 at 6:31 pm to wutangfinancial
I was talking about how people just rack up debt like it's nothing. Buying stuff they can't afford.
Of course the government sucks for everything not called bombing people but that doesn't excuse people's reckless spending habits
Of course the government sucks for everything not called bombing people but that doesn't excuse people's reckless spending habits
Posted on 8/8/23 at 6:40 pm to Porpus
quote:Nah man Amex will apply the juice if you over spend. Lol
Isn't American Express the one you have to pay off at the end of the month, though? Did that change?
Posted on 8/8/23 at 6:49 pm to JiminyCricket
quote:
I certainly agree living above your means plays a significant role in that number, I just also believe that the god awful economic policies put forth by our federal government recently have put people into a financial bind.
Give away free money for three years. People commit to certain things. Then pull the rug out and inflate the cost of everything by 100-200%. Wages still the same as they were three years ago.
It’s not just living above means. Sometimes it’s making ends meet.
Posted on 8/8/23 at 6:59 pm to ReauxlTide222
quote:
There’s a huge feeling out there that nothing matters anymore. Debt? Who gives a shite. Yolo
Well.. They sound like fricking idiots tbh.
Posted on 8/8/23 at 7:11 pm to PhiTiger1764
Everything costs 16-20% more than 2 years ago...about to create an epic disaster
Posted on 8/8/23 at 7:13 pm to BearCrocs
So what I’m hearing is that an economy based off of spending money isn’t sustainable?
Posted on 8/8/23 at 7:19 pm to alajones
Credit card debt increased by 21% you, last qtr 15% you, qtr before 21% yoy...highest ever before since 2002 was 15% one time at beginning if financial crisis in 2007...then it was all turned off
Posted on 8/8/23 at 7:30 pm to BearCrocs
Mine is zero. The only debt I have is my house note... and my contribution to bailing out the freeloaders...
Posted on 8/8/23 at 7:31 pm to BearCrocs
Yet every company involved in the travel industry claims this summer is record setting or historic by every metric with international travel leading the way.
Posted on 8/8/23 at 7:32 pm to tigafan4life
quote:
Good lord. WTF do people buy? I get really mad sometimes that I don't have as much as others but shite like this makes me think everyone that looks rich is fricking up to the nose in debt.
My son used to always chastise me for “Just Settling”. He would say you never get exactly what you want, you always settle for something less. I always tried to explain to him that just because I want it and even though at the time I may even be able to squeeze by and afford it, you have to always look to the future. Sure maybe I can by truck A with all the bells and whistles but I can also be fine with truck B and that mid level package for $100 less per month. That’s $100 I can put in savings or use when some unexpected need pops up.
He never really got it til he got out on his own. Now every time he buys something I laugh at him and ask him why he didn’t get the more expensive version. Just glad that he does now see it and is not putting himself in debt like all the other idiots out there apparently.
Posted on 8/8/23 at 8:04 pm to Kingshakabooboo
very proud of my daughter who is 28 and has zero debt. I preach to my two subordinates in the office to avoid consumer debt at all costs. If you owe it…pay it off, before anything else
I almost ruined my life with credit card debt. It took me years and tens of thousands of wasted dollars to get clear. At the time I was unwilling to make the changes in my life that I needed to make in order to make my finances work.
and that’s what it takes…life changes. Cut those fricking cards up and never look back
I almost ruined my life with credit card debt. It took me years and tens of thousands of wasted dollars to get clear. At the time I was unwilling to make the changes in my life that I needed to make in order to make my finances work.
and that’s what it takes…life changes. Cut those fricking cards up and never look back
Posted on 8/8/23 at 8:07 pm to Motownsix
quote:
Yet every company involved in the travel industry claims this summer is record setting or historic by every metric with international travel leading the way.
People can have a lot of credit card debt and still be traveling at record paces. They’re not mutually exclusive.
Posted on 8/8/23 at 8:13 pm to BearCrocs
$78 of that is mine. You can never have too many bags of Funyuns.
Posted on 8/8/23 at 8:23 pm to fwtex
quote:
It has everything to do with Biden. Biden policies caused 5he rapid inflation that everyone knew it would. When people have to spend all their paycheck to rent they have few options to survive, especially if they have kids. Liberal idiots sold other liberal idiots the idea that forcing higher cost of workers would work in a vacuum when everyone else knew the cost of goods would go up higher than the wage increases. Welcome to reality of economics 101.
Delusional. I despise Biden, but this is delusional.
Household debt was $14.3T and credit card debt was $858B before Covid with Trump. This is the American way, regardless of president.
Posted on 8/8/23 at 8:35 pm to slackster
Delusional. I despise Biden, but this is delusional.
Household debt was $14.3T and credit card debt was $858B before Covid with Trump. This is the American way, regardless of president.
——
Yea. But…
Coupled with the anti energy policies and the push to have everyone make big bucks at simple jobs was straight up Biden. It was easy to see coming. Go to any liberal city and see the living costs.
Posted on 8/8/23 at 8:36 pm to slackster
I also hate to break up the doom and gloom circle jerk but, outside of Covid, Americans are spending less of their income to service their debt now than they ever have over the last 45 years…
Posted on 8/8/23 at 8:39 pm to lsufan112001
quote:
Yea. But… Coupled with the anti energy policies and the push to have everyone make big bucks at simple jobs was straight up Biden. It was easy to see coming. Go to any liberal city and see the living costs.
Sure, so what percentage is on him? The guy I responded to said it was 100% his fault. That’s absurd.
Household debt in this country has gone down twice in the last 20 years. Once was the Great Recession and once was when the government literally paid people 3 big checks during a pandemic and those people paid down debt.
Using tomorrow’s dollars today is the American way, especially in economic expansions.
Posted on 8/8/23 at 9:04 pm to BearCrocs
I have zero credit card debt.
Posted on 8/8/23 at 9:09 pm to tigafan4life
I only drive a 2018 Corolla. I’m not OT rich but I don’t have any debt. I have prepaid my rent by five months and I purchase car insurance six months to get a discount. I don’t take fancy trips. I am blessed to have a modest retirement.
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