When it comes to credit card debt, discretionary spending is often a significant part of the problem. Identifying it can also be a critical part of the solution.
Credit card debtors are outspending debt-free households in seven of nine discretionary spending categories, according to. However, few people said they’d be willing to cut back on their luxury purchases to reduce their debt. “The average U.S. household spends thousands of dollars a year on nonessentials,” said Ted Rossman, industry analyst at CreditCards.com. “If you’re charging these luxuries and carrying a balance, you’re spendingfor the privilege. Would you have chosen the same car, plane ticket or restaurant if the price were 18 percent higher?”
The CreditCards.com survey of nearly 2,500 U.S. adults found that those with credit card debt spend more each year on these luxury categories:Cellphone service and equipment upgrades: $1,629 vs. $1,326Subscription services: $1,198 vs. $1,083“People tell us that they get into credit card debt either because of an emergency or because of day-to-day expenses.
“That's a big chunk of change,” Rossman said. “You can definitely get by with a much cheaper used car or maybe you can keep your existing car a bit longer. You don't need an expensive brand-new car.”
BETTER What!? Poor people make poor decisions? No way!!!?
BETTER Ya don’t say?
BETTER NBC stands for the National Boring Company. It survives by being really boring with the so stale news that turns lysol into a huge successful business.
BETTER yea lets show stuoid offers on theur cellular, then tell then you are on sale for this much debt. lol
BETTER Since everyone in the comment section is pointing out the obvious result of the survey, I'll take this time to say that I can't stand Dairy Queen.
BETTER If you can’t pay cash for it, you don’t need it!
BETTER Wait, so you're saying that people with too much shit have less money to buy that shit? .... No way ...
BETTER No kidding...
BETTER Wow really? People who are bad at money have more debt than those who are good at money? Never would have guessed that! ✌🏻😉
BETTER I want someone to come and pick me up sex porn 😡⛩🤔🏫
BETTER Survey unecessary.
BETTER and this is a story? buy crap with a CC and pay for it for the next year- not bright
BETTER I will never get a credit card or payday loan. I know how to live within my means and live a comfortable life happily. Yay.for digital sales on games!
BETTER Another story about how people are ruining their lives buying coffee. 😒
BETTER & in other obvious news; Water is wet
BETTER No shit Sherlock. cc: CaptainObvious
BETTER That’s a captain obvious observation. Those who have no debt typical do so because they are careful with nonessential purposes; thus the reason for no debt. You guys are reporting on important news.🙄
BETTER If the government can have a trillion dollar debt and survive, I can have a fucking latte
BETTER Please read my story and donate
BETTER Absolutely true. It’s called entitlement. Those of us without debt don’t piss our money away.
BETTER so you mean that people with credit cards are getting whatever they want and are paying whenever they want? lets be like a vegetable and remember to keep your money in the bank so it could get more rich
BETTER This is why we say no to all the leftist crying for cancellation of voluntary debt. Free choice and consequences, that is life. you are entitled to nothing else.
BETTER I am doing what I can to support the economy ...... damn I feel like a super hero... Super Charger 🦸♀️
BETTER Breaking news idiots spend more than they can afford
BETTER Simple solution.
BETTER In other news, the sun is hot.
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BETTER I'M SHOCKED!! SHOCKED I SAY!!!
BETTER No shit
BETTER Ya think?
BETTER Wait we have to explain this to ppl?!
BETTER Buy only items that are not made in China. You will be wealthy sooner than you could imagine.
BETTER i feel like ive read this article before i feel like ive read this article before
BETTER All these instructions for working people on how they can get by on less and less ignores the reality of the past 40 years of declining income and blames the victims for the problem.
BETTER Merci
BETTER Of course they do, that's the entire sick pawn game bitcoin
BETTER No kidding
BETTER Yeah I’m sure that debt free pool is extremely low, even with a 800 credit score that student loan means you’re in debt.
BETTER CitationsPod adamjohnsonNYC WideAsleepNima didn’t y’all do an episode on this
BETTER What? Cut back on stuff that matters? Like food? Daycare? Electricity? Clothes? A roof over your head? So we can have a good credit rating when the new iPhone comes out?
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BETTER Which came first the spender or the lender
BETTER In other obvious news; Water is wet
BETTER You needed a study?
BETTER WHO CARES
BETTER Question - if American consumers suddenly began cutting their spending the way these articles recommend, would the effect on the economy be significant and negative? Related question - if I comes were raised approx 18% (see article), would the impact be large and positive?
BETTER Hence the debt part 🤨 thankscaptainobvious
BETTER i’d say skipping lattes would be important for your health and at $5 a piece, add up!
BETTER No shit
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BETTER News? Surprise?
BETTER No kidding
BETTER CLINTONS KILLED PEOPLE WITH DEBT AND WITH 'SUICIDE'!! ClintonsBodyCount
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BETTER I'm glad atleast I'm debt free from credit cards. All I gotta say if you don't have the actual money for it then you can't afford it.
BETTER Happy International State The Obvious Day, everybody!
BETTER hello everyone Contact Shawn gray to clear all your credit card debts he cleared all my debts and I didn’t have to pay contact him through text at +1 (424) 281-4920 or on WhatsApp +1 (619) 387-7180
BETTER
BETTER Pretty sure you're being racist, sexist, and trying to kill poor people by publishing this.
BETTER Just cut em up and live within your means😕
BETTER Is Bernie gonna cancel out credit card debt too?
BETTER Of course, that makes sense...that’s why they’re in debt
BETTER We are nothing without credit in this country.
BETTER What happened to Jeffery Epstein Really intersting read... JefferyEpstein Epstein EpsteinSuicideCoverUp ClintonBodyCount EpsteinMurder BillClinton HillaryClinton Trump TrumpBodyCount
BETTER Do ya think there just might be a pattern there?
BETTER How did they get debt free? Oh right. By not spending money on essential purchases. Genius study ..
BETTER astaryn16
BETTER Shop at AldiUSA
BETTER Absolutely true. IT'S NOT FREE MONEY, GUYS! 🙄
BETTER Hence the additional debt.....
BETTER Long Bitcoin
BETTER It's almost like they think they are the US government... spend, spend, spend....
BETTER This also links to global warming if you think that shit, as this life style consumes more energy and produces more heat(btu/kw) . So if serious what are you willing to delete from life or just fuck it up and delete Earth
BETTER This is far beyond stupid.
BETTER omg that’s SO deep, nobody ever would’ve guessed that ppl who willy nilly buy crap are more in debt than ppl who do not. I have definitely learned something here, I learned that anyone with an internet connection can write a pointless article
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BETTER We aren’t promised tomorrow so buy whatever makes you happy.
BETTER In other news, water is wet and the sky is blue.
BETTER Today on the Obvious Show....
BETTER Stop buying crap you don't need
BETTER 2 million dollar government grant research to tell us the obvious.
BETTER Debt-free is not anyone's real goal today.
BETTER No kidding? Who would have thought?
BETTER