Credit card debt was the most common form of debt among U.S. adults, according to a survey conducted for Newsweek.
  • CircuitGuy@lemmy.worldEnglish
    2·
    2 months ago

    I have heard this all my life, going back to the 80s. There are always high-interest loans that unsophisticated and desperate people take out. I don’t think there’s some unique new problem.

  • jjjalljs@ttrpg.networkEnglish
    1·
    3 months ago

    I believe this article misses the real reasons: labor isn’t paid enough.

    Capital makes record profits but that isn’t being shared with the people who do the work.

  • kingthrillgore@lemmy.mlEnglish
    0·
    3 months ago

    I’m in this boat too. I’m on track to pay it off completely by May but the damage is done: I clipped the card in two. I had originally used this card for emergencies and travel, but what happened is I used it to pay for a mover, and the debt has not moved much since.

    If I have to travel with a debit card, I will find a way.

    Looking at the debt numbers in the articles, I’m reminded of similar numbers before the 2008 crash and we are not in a place to recover if it happens again. Which it will.