Credit Card Debt In The United States Is Approaching A Trillion Dollars

TEC ^ | 03/19/2016 | Michael Snyder

[BipolarBob]

Who’s been peeking at my credit card bill?

[Jonty30]

Wait until they’ve removed cash and every purchase made comes with a small fee.

[E. Pluribus Unum]

If you can’t pay cash, you can’t afford it.

Seriously.

Debt is theft from your future self.

[DIRTYSECRET]

Government is the same way. I guess you need adults around.

[Alberta's Child]

There are several local businesses in my town that never accepted personal checks up until the last year or so. Now, they have a sign at the counter encouraging customers to pay with a personal check ... because the bank fees for credit card transactions have gotten much higher.

[Alberta's Child]

That’s a good rule to follow. There’s nothing wrong with a credit card, but unless you’re in dire circumstances you should never charge more on it than you have in your checking account at any given time.

[E. Pluribus Unum]

Houses, unfortunately, used cars if absolutely necessary, and medical expenses are the only debts you should incur.

Your future self will thank you.

[BipolarBob]

Wait until they’ve removed cash and every purchase made comes with a small fee.

WHAT??? I want cash back every single day. That's what Samuel L. Jackson promised and I want it. I want it now.

[Paladin2]

Some spending can be an investment (eg tools) that can have a large short and long term return....

[Ransomed]

Do they give a discount to use a check?

Freegards

[Paladin2]

When you pay fash at a store why can’t you get Cash Back?

[Paladin2]

When you pay cash at a store why can’t you get Cash Back?

[barmag25]

I spent the first several years of my 30’s paying off my 20’s and since then I am glad to say I have contributed $0 to this credit card debt.

[dp0622]

you have the other ten bucks?

seriously. How can we really be friends or friendly to people who voted for this guy and utterly destroyed our country and brought it to the brink.

There’s violence?!?!?! wow!!!

because half the people are insane communist takers and the other half are patriotic givers??!!

what are the odds of fights breaking out

[Alberta's Child]

Good point. And even if something isn’t a real “investment,” it’s still OK to incur debt to purchase it. Any asset that has a pretty well-defined life cycle can be financed over a period of time, as long as the term of the loan doesn’t exceed the life cycle of the asset. A home and a car would fit this description, if you borrow the money wisely.

[Alberta's Child]

No, they don’t — at least not yet!

[E. Pluribus Unum]

Cost-benefit analysis.

That’s all I ask.

;>P

[blueunicorn6]

“Americans continue to make the same horrendous financial mistakes over and over again.”

Ladies and gentlemen, I give you Barack Obama.

[funfan]

Maybe some of these people have to use a credit card and maybe they lost a good paying job and got an Obama 30 hr. a week job
and are having a hard time paying the cards off.