Americans are racking up all-time high levels of credit card debt. Ted Rossman, senior industry analyst for CreditCards.com, has tips if you’re struggling with high balances.
#news #creditcard #debt
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I learned what works for me is a minimal approach to money. I have one checking account. I have zero credit cards and zero debt except for my mortgage at 3%. All my bills are on autopay including my mortgage. I have a warning in place with my online banking for when my account balance is too low and I will receive an email. Any extra cash I have after my living expenses I use a 90/10 rule. I spend 90% of the money on assets and 10% on liabilities. That's it simple.
I love it when I see people financing vacations on a credit card and putting it up on Instagram as if they’re having this fabulous life when I know they are crushing on your dad while I’m over here and enjoying my boring life debt-free ????
Hmm what happened last time we had record high credit card debt and inflated housing prices? Oh yeah…
Living the American dream aint cheap and the U.S. economy depends on you spending money you dont have…THANK YOU FOR YOUR SERVICE????????????
I haven't carried a balance on my card for more than 20 years. I owe no one a dime. You want to know what freedom is? THAT's freedom. You can parade around all day with an AR weapon claiming that makes you "free", but if you still owe on that damn gun, or your car, or your mortgage, you ain't free at all. You're just workin' for the MAN.
Things happen called emergencies and most people don't even have $500 to cover unexpected costs. What are people supposed to do?
both student loans, and credit card debit needs to be forgiven. way to predatory
That's why you should live within your means and stop spending on dumb things
I use cc in place of cash to earn cash back and points. The key is DON’T spend what you don’t have, thus the reason for $0 balances on all 14 cards.
Those 0% balance transfer cards charge 3% transfer fee upfront
LOL, really? It's all about keeping up with the Joneses. Everyone just has to have all these expensive social media devices. Crappy phones and tablets that only lasts a couple of years. Many buy the new one before the old one is paid off. Oh and don't forget fashion… It's a ridiculous cycle of greed and stupidity.
I've literally made $4,350 from credit card sign up bonuses this year and paid zero interest. If you have excellent credit, you can really milk the system by churning high value cards as long as you're careful to pay everything back immediately.
I prefer hearing from the horses mouth in person.
i use one for my business and gas and my wife uses hers for family things.both paid off every month and have gotten enough points for a family 4 vacation in December to fly for free or just about..good for us
Buying stuff we don't need with money we dont have to impress people we dont like…The American way, consumerism has destroyed so many families.
In a society and culture that revolves around and is defined by dollars, it's no secret why identifying with the lack of dollars is taboo. Don't break down the shame, tear apart the system. Burn it all down.
I honestly dont understand why youre discussing these dubious schemes. There are plenty of options like Cannafarm Ltd and similar ones that are fast and profitable.
I am single income no family no debt. I own a home and car with no debt. Became a millionaire before Age 50 because I have no debt. Just live within your means even if it means no eating out and just stick to the basic. I follow Dave Ramsey baby steps millionaire.
Cryptocurrency is volatile. Diversifying your portfolio is a sensible strategy. For example, I have deposits on Binance where I engage in trading, also staking on Kraken, investing in companies like Cannafarm Ltd, and I also participate in liquidity pools
It’s the behavior that causes the issue not the interest rate. A balance transfer only helps if you have changes the behavior otherwise you will just be back where you were originally.
I paid off all my credit card debt in 2014. I haven't owned a credit card since.