Do you find yourself constantly chasing the standard of living supposedly experienced by your neighbors and Facebook friends? Well, everything might not be as it seems with your friends. In this episode, Art shares seven stats that will make you rethink your chase.
- Half of millennial and Gen Z respondents have gone into debt for summer travel.
- 35% of Americans took on holiday debt.
- Average credit card interest rate is at 20.4%
- The average price of a new car is $50,000.
- 6 in 10 of Americans live paycheck to paycheck.
- 6 in 10 Americans do not have $500 set aside for an emergency.
- Serious credit card delinquencies rose to 4%.
- 25% of Americans don’t have anyone to whom they can got to for trusted financial guidance.
Resources:
What Is The Average Credit Card Interest Rate This Week? February 21, 2023
Average Holiday Debt Nears $1,550, Highest in LendingTree Survey’s 8-Year History
