Comment on Nearly a quarter of U.S. households live paycheck to paycheck, report finds
BombOmOm@lemmy.world 20 hours agoDon’t carry credit card debt, the interest eviscerates your finances. It is a fact much of America does not take to heart.
Comment on Nearly a quarter of U.S. households live paycheck to paycheck, report finds
BombOmOm@lemmy.world 20 hours agoDon’t carry credit card debt, the interest eviscerates your finances. It is a fact much of America does not take to heart.
Zorque@lemmy.world 14 hours ago
When you’ve got rent to pay and mouths to feed, and paychecks dont arrive for another week (or more), sometimes it’s a necessity. And when emergencies arrive (as happens more and more often) people at this financial level generally dont have the “rainy day” fund to lean on.
This is not exclusively a personal issue, it is mainly a systemic one. Sure, many people could do with some better financial literacy and personal responsibility… but that’s nowhere near the epidemic of parasitic opportunists eager to squeeze dry every person they can. The desperate being the easiest to exploit, in most cases.
BombOmOm@lemmy.world 3 hours ago
Absolutely. And then when the bill comes in six weeks, pay the balance.
Credit card use is fine, carrying a balance on credit cards is what eviscerates your finances.