There’s a credit crisis looming. People are using credit to cover stretched budgets due to higher costs of inflation.
It affects all of us somehow. It’s the people who don’t know how to manage their finances that are in danger and will destroy the economy.
The democrats have perpetuated poverty and financial illiteracy and now it’s going to cost America heavily.
“There’s a credit crisis looming. People are using credit to cover stretched budgets due to higher costs of inflation.”
You’re being charitable. As the economy has taken the nose dive I’ve noticed people haven’t stopped going out to eat. I submit that for a family of 4 eating out costs roughly 4 times what eating at home costs, (assuming you cook and don’t do uber eats).
I think people are much less prone to planning and much more in the moment today. When they want something, that becomes a need, and they do what they have to in order to fill that “need”. Want to go out to eat? It’s a need, so charge it.
I’ve been telling my wife for a couple months now that people are charging like crazy, and the real issue will come in the fall when they want to buy Christmas gifts but their cards are maxed out.