I know I’ve changed some habits due to inflation, and I have high income and no debts. I totally believe plenty of folks are going month to month on CCs and are one missed paycheck away from bankrupt
Ditto with me. I avoid debts like the plague.
Outside of medical bill emergencies I’ve never understood how people can get themselves jammed up with credit card debt.
We have one card and use it very sparingly......if it gets around $500 we start panicking. Lol!
I am in the same position as you. ZERO debt. No mortgage. No car loans. I charge almost everything on my AMX because I get 1-6% cash back on those purchases. Then I pay it off every month.
However, I work in an office of 60 people. I am sure there are people who have tens of thousands of credit card debt. One that surprised me a little bit is one of my office buddies who is married with four kids. He has built a rental real estate portfolio of seven houses in the last dozen years that is now worth multiple millions.
Yet, he confided in me recently that he found out his WIFE had a credit card he did not know about. She had over $30K on it. Flipped him right the F out. She has a really good job too. Making close to six figures as a school administrator. I told him to seek counseling. Apparently, this is not the first time this has happened with her.