Danielle Smith and her family thought they had finally escaped the paycheck-to-paycheck cycle they had fallen into. They saved money during the pandemic while they were stuck at home. They usedto chip away at $20,000 in credit-card debt and enjoyed a reprieve from monthly payments on their $160,000 in student loans.
Lately, they have been hit with one unexpected expense after another, from an out-of-pocket MRI to a broken water heater. They also took trips with their four children that they had put off because of Covid, including to Walt Disney World, local museums and the zoo. By 2022, their credit-card debt had doubled to nearly $40,000.
Living in America means upholding certain practices. Having a car (and insurance, registration, license, gas, repairs, maintenance) is one big burden. Finding affordable housing is another. And THEN you have to focus on utilities, food, clothing... it all adds up VERY quickly.
I am rich compared to my peers. I was able to afford a home—which had previously been owned by blue collar union workers and I couldn’t tell you how people are able to live under $100k if they didn’t buy their house for $5 in 1985. Debt is the answer for most.
the young democrats knew what they were voting for. who cares.
This generation has worse life than their parents. The country is more woke, more liberal and more left than ever. Maybe just co-relations. Maybe more than co-relations.
They teach everything in high school except personal finance and anything else useful.
Inflation….
Maybe don’t take a trip to Disney if you can’t afford it 🤦♂️. If you are racking up credit card debt for a prolonged amount of time you are clearly living beyond your means. Paying cc interest is the worst trap you can ever fall into
If only banks stop lending beyond what folks are able to repay, we won't have the problems we have today. This goes for the US govt. as well. It is beyond the point of reducing its debt, ever.
So many came out of college around the financial collapse and then got hammered by COVID. You have to feel for people in the 35-39 year-old range.
People with $80k income, $160k in student loan debt & $20k CC debt have no business going to Disney World. We went 10 years ago & it cost $10,000. Granted we stayed at one of the pricier Disney resorts but even a one day family trip to Disneyland would cost us $800+ these days.
Sooooo in massive debt but spend thousands going to Disney? Sounds like a spending problem.
When I read this article I’m just amazed. Household income $80,000 and 160,000 in student loans so each partner is making about $40,000 a year. I wonder what they studied in college? They their “education”. Then they go to Disney World and spend many thousands of dollars on junk
correction: “since Biden took office”
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