Personal Debt in the USA is out of control

[Kiyoshi-Dono]

I hope you live within your means dikkheads don’t ever get sick or have to deal with emergency car repairs
Those two things kill your savings and investments
Only on thecoli where you dikkheads don’t see how you are saying the same thing as this new administration

 

[Whips-n-Chains]

Car loans are not the worst. Depends on what you finance, for how long, and your interest rate. A 5% loan even on a depreciating car is manageable. 15-25% is not.

My total finance charge over the life of the loan on my $26K car is $1090 or so if I take the loan the full 60 months.

That’s not worse than credit card debt.

You right breh. I should say that most car loans are the worst, especially b/c people get cars they can't really afford, or shouldn't afford b/c they get caught up in the "how much will I be paying each month" instead of the rate, and terms.

 

[winb83]

I hope you live within your means dikkheads don’t ever get sick or have to deal with emergency car repairs
Those two things kill your savings and investments
Only on thecoli where you dikkheads don’t see how you are saying the same thing as this new administration

No matter what you have to live a lifestyle that is within your means. Anything else is unsustainable.

 

[winb83]

 

[winb83]

 

[Peruvian Connect]

They ain't got no money. No free time, The fucck else they gonna use?

 

[GoFlipAPack]

I want a new car but I'm bout to put like $5k into my 2012 VW Passat with 300k miles to keep it on the road.

 

[NoMorePie]

 

[JT-Money]

Household Debt Rises to $18.04 Trillion in Q4​

https://www.advisorperspectives.com/dshort/updates/2025/02/13/household-debt-credit-report-q4-2024

Household debt increased by $93 billion (0.52%) in Q4 2024, reaching $18.04 trillion. While all debt categories saw quarterly gains, the overall rise was primarily driven by credit card debt.

Credit card balances increased $45 billion (3.86%) to $1.211 trillion. Mortgage balances increased $11 billion (0.09%) to $12.605 trillion. Auto loan balances increased $11 billion (0.67%) to $1.655 trillion. Balances on home equity lines of credit increased $9 billion (2.33%) to $396 billion. Student loan balances decreased $9 billion (0.56%) to $1.615 trillion. All other debt increased $9 billion (1.47%) to $554 billion.

Credit card, mortgage, auto loan, and student loan balances are at all time high debt levels.

 

[winb83]

They ain't got no money. No free time, The fucck else they gonna use?

Live under your means and have an emergency fund. Having to pay 25+% interest because you don't have your money right is crushing. Credit card debt is among the worst debt to have.

 

[Bryan Danielson]

Here is a thread topic, someone pick this one up