Holy shit!
About 40% of credit card holders carry a balance of less than $1,000. About 15% are far less conservative in their use of credit cards and have total card balances in excess of $10,000. When we look at the total of all credit obligations combined (except mortgage loans), 48% of consumers carry less than $5,000 of debt. This includes all credit cards, lines of credit, and loans-everything but mortgages. Nearly 37% carry more than $10,000 of non-mortgage-related debt as reported to the credit bureaus.
This is just too fucking ridiculous! I thought my $400 bucks (which will be $0 at the end of the month) was a lot on my credit card. I have 3 credit cards and almost always have $0 at the end of each month. I’m not rich and I don’t live like I’m rich either. People need to start living within their means!
3 Responses to “Holy shit!”
Yes, people should live within their means. Sad thing is that I was just reading about how the growing number of home foreclosures, besides increasing gasoline costs, are prompting even greater credit card use.
Living within your means is a lot easier than actually doing it…it is so sad when you see people using credit cards to buy necessities! They aren’t buying luxury items or frivolous things but basic necessities.
People are just stupid. They don’t see the consequences until it’s already bit them in the ***. Everyone has control of their finances. You know OR should know what you can afford. You don’t need a credit card to buy necessities. You just need to set a budget and stick to it. Now a budget is easier said then done. Try it, “it works swell”. IF one has a problem with credit cards and preset limits, they shouldn’t use them. Stick with cash only so you REALLY know what you have.
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