Posted on 09/24/2025 9:35:29 PM PDT by SeekAndFind
I was in maxed out credit card debt.
Means you aren’t really making it across the circus trapeze leap from paycheck to paycheck because you live on the margin of your available credit after interest and minimum payments due and the max credit limit. You pay the cost of a luxury car on the interest which 1950s loan shark gangsters were imprisoned for charging to victims.
Hell on earth. Apparently millions are living through that now.
The biggest challenge is getting the Senate to do something to protect voter integrity before the midterms. I would go on to add getting Congress to codify some of this year’s Executive Orders and pass a balanced budget but that’s not just a challenge, that’s crazy talk. Oh what the heck, let’s throw in term limits too.
I have been nearly maxed out, many years back. It took time to get ahead of everything, but I did.
I feel for everyone in this situation.
I'm not sure enough American are aware of that.
It's like the boiling frog. The rot has been setting in slow enough so not enough people notice.
Gen Z doesn't realize how much better we Boomers had it. Not only financially, but socially and culturally.
We had privacy. We didn't have to worry that our every public act or comment might be recorded, then have out of context snippets of it go viral on social media.
Too much of the money is in the hands of too few
We have too many living on the backs of others
Soon it will be game over.
Surviving the Democrat party
and what they have done and
will do to America.
Trump is going to get blamed for it. It is going to be like GWB’s second term, and it is likely more government intervention is in the future.
A look to the bottom of the web page show that he happily accepts donations, and "As an Amazon Associate I earn from qualifying purchases."
My low-end renters are living paycheck to paycheck. But every child has a screen phone. They own a TV in every room and have $300 cable bills. I know because the bills keep coming when I throw them out for nonpayment. They pay the cable bills because the service will get cut off but they don’t pay the rent because that’s optional. They buy fifty-dollar lotto tickets.
It’s not all a problem with the economy.
A debt based economy where everyone finances everything and everything has to be the latest shiny thing can never be "the right direction". Most everyone at work finances a vehicle. They'll pay three times the cash price and pay for full insurance. But it's new and shiny and a status symbol along with their $1,200 cell phone.
Heard Tim Burchett say he’s put forward 17 bills to codify Trump EOs and can’t get a single one through committee even.
The Economic Collapse Blog?
Really?
> It took time to get ahead of everything, but I did.<
Good for you!
Following my divorce I was in the same situation. I did the unthinkable. I borrowed from my 401k to pay off the 29% credit cards. I then proceeded to get rid of all of the cards but one. That I pay off every month.
It takes mental effort to do it. But in the end, it was the road to wealth building.
EC
“I have been nearly maxed out, many years back. It took time to get ahead of everything, but I did.”
Good for you. I sold my house for a small, but decent profit, rented an apartment, finished up my car loans, paid off my credit cards and now I bank every payday. I only use American Express because I get hotel points. I pay that one off every month. I’m not buying a new car anytime soon, I am not buying a house anytime soon and I retire in two years. Until then, I am banking every available penny I have.
I took a look at credit score percentages. ~71% of people have good, excellent or exceptional credit scores. Those people are paying their bills on time..
That is a good strategy to have. Edmunds says 26.6% of car trade ins have negative equity that get rolled into the new loan. Yikes.
Bkmk
If you’re unemployed with your money tied up in your investments and you’re sticking to a tight budget, it can seem like you’re not getting anywhere, especially when you know you can still perform at your chosen profession. With the current job market being how it is, you know it’s going to be another long and boring winter but at least you can watch your money grow.
Same here.
We woke up one morning and had a wave of reality come over us. What followed was 56 months of austerity with a side order of frugality. Completely changed our lives. No more debt, no credit cards, no mortgage, no personal loans, no car loans, nothing. We keep all but a tiny sliver to pay bills, the rest goes into savings and investments. We live like we are broke. Yes, I feel bad for those struggling but 10 years ago we were struggling. True, some are delt a bad hand, but many are in their situation due to poor lifestyle decisions. It can be fixed, I know because we fixed it for us. It was not fun, but the best thing we have done for ourselves in a long time. Changes everything.
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