Just read that the average American's credit card debt is over $6,000 right now

I saw that number in a report from the Federal Reserve Bank of New York. It got me thinking, some people say that's a sign of a healthy economy with confident spenders, but others argue it shows people are just getting squeezed by inflation and can't keep up. Which side do you lean toward, and what's your own experience with debt been like lately?

3 comments

3 Comments

patricia5582mo ago

My neighbor just got a third card to pay for groceries, so I see the squeeze.

blair_martin2mo ago

Yeah, that's the kind of thing that really makes it hit home. I used to just see the big inflation numbers and shrug, but hearing a story like yours, @patricia558, about your neighbor juggling cards just to eat, that flips a switch. It stops being a news story and becomes real people in real trouble. Makes you wonder how many folks are quietly doing the same thing just to get by week to week.

willowh202mo ago

Man, that's rough. Does your neighbor have any family nearby who could help out, even just with a meal or two a week? I always wonder if people in that spot are too proud to ask, or if they just don't have anyone to ask. It's scary how fast a normal grocery run can wreck a budget now.