Americans rack up $19 billion in credit card debt in one month
Americans rack up $19 billion in credit card debt in one month
Wells Fargo reports a surge in U.S. consumer credit card debt, indicating potential financial stress among households.
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This is definitely an order of magnitude calculation, but doesn't that correspond to $60 per person in the US? Is this big number scary article?
Depends. Are you dividing by total population or actual cc holders? Because the latte isn't as big.
That's an espresso way to debt central that's for sure
Mocha money mocha problems amirite
Stats from some googling. Assuming there are 250 million adults in US, and 80% have credit cards, that gives me 200 million holders, or ~$100 per person. That's not really a whole lot of money anymore. Not in a world where taco bell costs $20.
Ya I just checked and you're right. However, we could still infer certain trends.by examining the shift
Agreed. The article also includes a consumer debt trend over time. It seems to outpace inflation by about 33% which is more noteworthy to me.