87
1 in 3 Americans maxing out credit cards because of inflation
(www.foxbusiness.com)
you are viewing a single comment's thread
view the rest of the comments
view the rest of the comments
this post was submitted on 15 Apr 2024
87 points (77.4% liked)
News
23287 readers
2283 users here now
Welcome to the News community!
Rules:
1. Be civil
Attack the argument, not the person. No racism/sexism/bigotry. Good faith argumentation only. This includes accusing another user of being a bot or paid actor. Trolling is uncivil and is grounds for removal and/or a community ban. Do not respond to rule-breaking content; report it and move on.
2. All posts should contain a source (url) that is as reliable and unbiased as possible and must only contain one link.
Obvious right or left wing sources will be removed at the mods discretion. We have an actively updated blocklist, which you can see here: https://lemmy.world/post/2246130 if you feel like any website is missing, contact the mods. Supporting links can be added in comments or posted seperately but not to the post body.
3. No bots, spam or self-promotion.
Only approved bots, which follow the guidelines for bots set by the instance, are allowed.
4. Post titles should be the same as the article used as source.
Posts which titles don’t match the source won’t be removed, but the autoMod will notify you, and if your title misrepresents the original article, the post will be deleted. If the site changed their headline, the bot might still contact you, just ignore it, we won’t delete your post.
5. Only recent news is allowed.
Posts must be news from the most recent 30 days.
6. All posts must be news articles.
No opinion pieces, Listicles, editorials or celebrity gossip is allowed. All posts will be judged on a case-by-case basis.
7. No duplicate posts.
If a source you used was already posted by someone else, the autoMod will leave a message. Please remove your post if the autoMod is correct. If the post that matches your post is very old, we refer you to rule 5.
8. Misinformation is prohibited.
Misinformation / propaganda is strictly prohibited. Any comment or post containing or linking to misinformation will be removed. If you feel that your post has been removed in error, credible sources must be provided.
9. No link shorteners.
The auto mod will contact you if a link shortener is detected, please delete your post if they are right.
10. Don't copy entire article in your post body
For copyright reasons, you are not allowed to copy an entire article into your post body. This is an instance wide rule, that is strictly enforced in this community.
founded 1 year ago
MODERATORS
Plus it says maxing out credit cards. Not just credit card debt. I have a hard time too beliving it's that many people.
Maybe the percentage is exaggerated, but I have no doubt that more people are having trouble keeping debt under control. I've hit a point where my debt is indefinitely growing, despite throwing every spare cent at my cards, and I've always been good with my debt. In the process of not using one of them, another gets piled on. Half of my pay goes to mortgage/utilities and the rest goes to my cards which are used for gas/groceries/dog food/emergencies. I've cut out everything I can at this point. My wife and I haven't gone out to dinner in almost a year, no vacations, and I'm hesitant to even take a day off because I will only get 8 hours of pay, losing the overtime. All of this, and my card debt still goes up every month by about $50, which isnt a lot, but it's unsettling that it's at a point of steady increase. In a few years, at least one of my cards will be maxed or close to it. One emergency like my last (3k in car repairs) will immediately max one of them. The only other options I have at this point are giving up my dogs, or starving myself. The working class, even the responsible ones, are struggling.