Personal Debt Sky Rockets and Credit Card Use Follows
1 in 7 Yankees have over 10 credit cards.
10 credit cards!? I see the use for 3 maximum, even that’s stretching. One for each major player, VISA, Mastercard, and American Express. 2 for emergencies, one you use to rack up reward points.
The fact is, Americans are the worst savers, the best spenders, and best debt holders in the entire world. At some point one would think the country will collapse because of the debt load. People actually spend more than they earn on a regular basis.
Earth to dumb Yankees–do yourself a favour and get out of debt. Stop buying dumb things you can’t afford and take the first step to financial freedom.
Why isn’t there some legislation ensuring not every Joe Schmoe company can offer financial services? Ah well, yet another problem in the States. Mind you, Canada loves to spend too, and what better way then with credit cards that offer 20% interest. 20%! I can’t believe they get away with that robbery.