*** But it is voluntary and there is no reason for anyone to not live within their means. ***
Sometimes there are expenses, medical, transportation, etc, that leave people little choice. They are called unforeseen emergencies.
True, however I know plenty of people who have racked up thousand of dollars of CC debt, not from a emergency situation but buying luxury items.
“Sometimes there are expenses, medical, transportation, etc, that leave people little choice. They are called unforeseen emergencies.”
That’s what short-term savings are used for — which is different than long term savings of 10-20%. Little choice? We all have choices on how much to spend and save. Unfortunately some people refuse to save and live within their means.