“Almost half of Americans are willing to take on debt in a post-pandemic spending splurge, survey finds”
June 9, 2021
“Americans are ready to start spending money to treat themselves — and 44% are willing to go into debt to do it, a report from CreditCards.com finds. Millennials, ages 24-40, are most likely to take on more debt (59%) followed by Gen Zers, ages 18-24, coming in at 56%. Only 40% of Gen Xers, ages 41-56, and 32% of baby boomers, ages 57-75, said the same. When it comes to what respondents are willing to incur charges for, car purchases and other automotive spending topped the list… More than two-thirds, or 67%, plan to spend money in the second half of the year, with travel and out-of-home entertainment the most popular purchases.,..”
This is not good to say the least. If you’re reading this you need to be in the half that is reducing or leveraging their debt. Now is a time to get your ducks in a row because hard times are coming.