Posted on 09/11/2017 3:01:53 PM PDT by buckalfa
Americans are starting to pile up more credit card debt than ever before.
According to a new study released Monday, U.S. consumers added $33 billion in credit card debt during the second quarter of 2017, making it the second-highest point of debt since the end of 2008.
(Excerpt) Read more at foxbusiness.com ...
My wife and I have no credit card debt — hell, we have no consumer debt at all, from any source — we own our house outright (i.e., no mortgage or home-equity line of credit), and we live within our means. It’s that simple.
Who says that slavery doesn’t exist in America?
Same here. Own the house, no debt. We’re both retired and don’t need a lot of fancy past-times. It’s very easy to live on a retired persons’ income. Your needs are few (you’ve got all of the material things you want) and you really spend very little. My greatest expense is helping out the kids, even though they don’t ask for anything.
We’re retired, as well. And we have no kids.
Financially speaking, it should be a fairly smooth ride. I’m amazed at how little we spend.
Does this include balances on cards that are paid in full every month?
Very sad.
It’s the only thing keeping some people “afloat”.
stagnation in wages for 20 years can do that. Also extended periods of being out of work in a field. And these aren’t entry level workers. 10-20 years experience with degree.
Offshoring and work visas are bad things in the tech industry. But maybe those billionaires who lie to Congress and say that there aren’t enough people in America who do this kind of work are “smart” for boosting the bottom line and then reaping the profits. But their little game doesn’t just affect their company, it goes through the whole industry.
Way above my credit card limit.
Retired, no bills except utilities. Have an Amex we pay off every month. Grandkids and food is killing us. Lol
Took the granddaughter out to eat at Outback a few nights ago. She brought 2 friends! Lol. Eh...whatever. But our grocery bill is outrageous. We eat out once a week and every single meal is eaten at home. Hubby is a huge meat eater. Trying to cook more casseroles and one pan meals but darn it seems like I’m at the grocery store every 4 or 5 days!
Other than that we’re doing pretty good.
Debt is slavery...No thanks.
>Who says that slavery doesn’t exist in America?
Not that credit is ‘bad’....
YUGE difference between self-signed and the unconstitutional/illegal versions (welfare, ‘income tax’).
The article is not clear on this. I would say the amount is what is owed as of an arbitrary date.
Just think, the entire American people collectively owe 1/20 what their government does.
And yet, personal bankruptcies are at a 30 year low. Go figure.
My wife and I have no credit card debt — hell, we have no consumer debt at all, from any source — we own our house outright (i.e., no mortgage or home-equity line of credit), and we live within our means. It’s that simple.
The problem is we will have to pay to save these leeches
Just think, the entire American people collectively owe 1/20 what their government does.
Trust me dude that number is not even remotely close to the truth
Yes you will. That is a given.
Over the years, I've built up a 401(k) into 7 figures but I know that it will eventually get seized to pay for those who never saved at all. As I get closer and closer to 59 1/2, the more tempted I am to just cash it all in, pay the penalty, and go live on a beach for the rest of my life.
True Sam but when u reach 60 u must think now about Uncle Sam. He loves when u want to grab your own money, he’s like gimme gimme
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