return2ozmaWhy do Americans pretend they're not broke when most Americans are in debt?
talI mean, it depends on what you mean by that. Anyone who has a credit card is going to have debt, just by virtue of needing to pay the bill.
But if you mean “most Americans have a negative net worth” — taking into account assets and debts — most Americans have a positive net worth.
kiplinger.com/…/average-net-worth-by-age-how-do-y…
The median net worth of all Americans in 2022 was $192,900.
magikmwCredit cards don't have to mean debt if you pay them off before the intrest applies. That's how you use them responsibly. Many don't.
It’s debt regardless of whether or not one pays interest. Debt isn’t linked to interest. Just means that you have an obligation to pay money to someone.
EDIT: Though in fairness, if one never actually uses a credit card at all, then one never takes out debt, so I suppose it’s probably better to say “if one has a credit card that one uses”.
EDIT2: Though all this is not to diminish your point that not carrying credit card debt from month to month is generally a pretty good rule to live by.
Here in Australia if you have a credit card with a parenting balance of $0, and a maximum limit of $10k, that actually acts as $10k of debt when you go to take out any loans etc.