Posted on 06/27/2024 12:54:25 PM PDT by TonyinLA
While the new year marks a time for new beginnings and a fresh start, millions of Americans entered 2024 with more debt and less to put in their checking and savings accounts. At the start of the year, U.S. household debt reached a record high of $17.3 trillion, according to data from the Federal Reserve Bank of New York (NYFRB).
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Key Findings Overall, U.S. household debt increased by 4.8% from November 2022 to November 2023, with credit card debt as the highest increase at 16.6%. Around a third of Americans said they expected to go into debt for holiday shopping in 2023. Roughly a quarter of Americans said they were still holding onto 2022 holiday shopping debt ahead of the 2023 holiday shopping season. Washington D.C. has the highest per capita credit card debt in the country, and Missouri has the lowest.
(Excerpt) Read more at marketwatch.com ...
I’m working on it.....
ZERO credit card debt...pay off monthly.
Mortgage paid off ten years ago.
Final car loan paid off four years ago.
Debt-free is the way to be!
Congrats!
I too have lived the Dave Ramsey way for 20 years, even started before I heard of Dave.
Because of this, I am, by far, more financially stable than anyone [with a normal salary / no inheritance] I know while my next door neighbor just spent $185k financed with a HELOC to remodel his kitchen.
And that is another important part of the equation: Being content with what you have.
…and key Democrat constituents are increasingly going to find portions of their debt forgiven. Old Joe will see to that.
Which means no trips to Disney World.
Oh, and your summer vacation to the beach? Wait until next year.
Well, they can hope for that. Don’t think it will happen, but if it does, it won’t last.
US Const., Articl 1, Section 10, clause 1:
No State shall enter into any Treaty, Alliance, or Confederation; grant Letters of Marque and Reprisal; coin Money; emit Bills of Credit; make any Thing but gold and silver Coin a Tender in Payment of Debts; pass any Bill of Attainder, ex post facto Law, or Law impairing the Obligation of Contracts, or grant any Title of Nobility.
While Illegals suck up their tax dollars
How do you spend $185,000 on a kitchen?
Platinum tableware?
I know, I was shocked too. They are installing nice appliances, but not Wolf or SubZero stuff.
They got a dozen estimates. Most around the $185k they settled upon. Completely insane. Moreso to borrow the $$ with a second mortgage.
Around the same time I had a couple contractors give me a bid for a remodel of a 1,000 sqft granny unit I have, originally built 100 years ago. They both wanted $30k for architect plans before even talking about the remodel cost [Our Building&Safety requires plan check because of new ADU law passed in 2021]. Told them to get lost.
This is in LA. Don’t know if this would be the same in Missouri.
They still have enough money to send contributions to Biden’s re-election campaign. And they want mail-in ballots sent to them at home because they ran out of gas money to drive to the polls.
But still votin’ Dem. Yessir.
I will retire very comfortably. Unless my 401K tanks tonight.
btt
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