Personal Debt in the USA is out of control

[jadillac]

I would pay off my car but it's electric car and I don't know if that's to my advantage

 

[Oatmeal]

Indeed, when u figure it out, u can get paid by the credit card company for ur purchases from all the ppl paying absurd monthly interest rates.

Think I redeemed between 1500 and 2000 dollars worth of points last year for cash. I save them up and use at Xmas

The way to flip it usually is for travel perks you get the most returns on points at hotels and use them in conjunction with promotions. Credit card companies try to not advertise alot of double dip deals like that

 

[RageKage]

Yep, rack up points for free travel.

I used to work position that had me travel often and entertain clients. I had a company card, but I'd use my own personal card to rack up what was literally free points for all my airfare and dining expenses.

Mind u I haven't min/maxed but thought buying tickets is the way to go as u will get the points for that in that case.

Circumstances are different for everyone and I don't travel too much.

 

[Richard Glidewell]

Most people ain't got nowhere near that amount of debt unless it's a mortgage........meeting people with 60k credit limits is rare as fukk for them to be claiming most americans

 

[Mike809]

I live in NYC , and people have suggested me that I should get a car.

I cut those people off my life immediately.


car notes seem to start at a minimum $500 for an average car , then you add insurance , gas and maintenance

 

[Gloxina]

$100k in credit cards

 

[etrofllenrod504]

Holy fukk Breh makes 27k…….like how!!

 

[Sauce Mane]

I live in NYC , and people have suggested me that I should get a car.

I cut those people off my life immediately.


car notes seem to start at a minimum $500 for an average car , then you add insurance , gas and maintenance

My boy just bought 25 m3 bmw, he’s financing and his monthly payments with insurance will be around $1300-1400 I think.

I can’t imagine paying this much for a car living in nyc unless I’m filthy rich

But he likes cars and wants it, I told him financially it’s stupid decision but then again you only live once

 

[Dorian Breh]

Need to go ahead and declare that at that point

 

[winb83]

Need to go ahead and declare that at that point

That’s what he told them to do.

My boy just bought 25 m3 bmw, he’s financing and his monthly payments with insurance will be around $1300-1400 I think.

I can’t imagine paying this much for a car living in nyc unless I’m filthy rich

But he likes cars and wants it, I told him financially it’s stupid decision but then again you only live once

You need to be making like $130K a month after taxes to comfortably afford such a payment. He must have a high income.

 

[RadaMillz]

I can't imagine being in debt for more than 10K, what kind of lifestyle are these people living to be in the negative for 100's of thousands of dollars

 

[Peruvian Connect]

I can't imagine being in debt for more than 10K, what kind of lifestyle are these people living to be in the negative for 100's of thousands of dollars

Probably was living normal until 2021 when everything went of wack. When your expense increase by like 40% with nothing new added, Shiit gets critical real fast.

 

[AceDeuceTrey]

If you can’t pay off your CC balance in full each month, you are living beyond your means.

Paying CC interest? Who raised these nikkas?

Any contrary to popular belief, credit is actually a great tool (if you know how to leverage of course). Unfortunately, most people have no self control and want to buy shyt they can’t REALLY afford.

I’ve never paid a lick of interest, AND I get cash back, statement credits, welcome bonuses and points. The CC are paying ME to use their shyt

 

[MajesticLion]

Predatory corporatists, personal habits and entitlement are out of control. "Money" and "debt" are placeholders.

 

[blockburna420]

If you cant pay 10% .

Idk if I'm frugal, or got good money management, but I could never feel like I'm in over my head. I never commit to owing Money.