Consumers are increasingly struggling to pay their credit card bills, raising concerns about severe delinquencies spiraling and sapping consumer spending.
I’m 35. We took out a refi and paid off our credit card debts in 2019, and we were doing financially great for probably the first time in our adult lives. In the course of the last year, we’ve nearly maxed out most of our credit cards on living expenses. It’s not only that the cost of living jumped up, but that our wages haven’t gone up with it and our combined student loan load is like $1000/mo. There’s also the creeping understanding that we’re one big unexpected expense from disaster. I was really looking forward to taking the kids on their first real trip or something, but I guess we’re just going to stay here and play Vidya until they’re adults. But hey, glad to hear that the economy’s doing great.
I’m 35. We took out a refi and paid off our credit card debts in 2019, and we were doing financially great for probably the first time in our adult lives. In the course of the last year, we’ve nearly maxed out most of our credit cards on living expenses. It’s not only that the cost of living jumped up, but that our wages haven’t gone up with it and our combined student loan load is like $1000/mo. There’s also the creeping understanding that we’re one big unexpected expense from disaster. I was really looking forward to taking the kids on their first real trip or something, but I guess we’re just going to stay here and play Vidya until they’re adults. But hey, glad to hear that the economy’s doing great.