return2ozmaAmericans are facing a record credit card debt crisis
ElderberryLowMan we need more financial literacy for kids prior to 18. But at the same time, our entire life is just one large conglomerate commercial. It’s stacked against us. Our economy thrives on us spending above our means. If everyone was to stop spending and pay off their debt, we’d be in a huge depression lol.
I don’t think financial literacy is the problem. I think the majority of the debt is incurred because people need to spend money on necessities. No amount of sound financial planning can make that go away
This is also true! Increased cost of living combined with stagnating wages. This is partly the reason why “payday loans” exist.