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Personal Finance

“Almost half of Americans are willing to take on debt in a post-pandemic spending splurge, survey finds”

“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.,..”

https://www.cnbc.com/2021/06/09/americans-willing-to-take-on-debt-in-a-post-pandemic-spending-splurge.html

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.

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