Loads of americans are head over heels in debt on credit cards where interest rates are aproaching 30%....but of course little johnny absolutely has to have the newest i phone every year. Sadly most americans do not understand the difference between what they need and what they want....And i suspect applies to most other countries and the "flauntin" of "wealth" for many people.
As of the second quarter of 2024, the average American credit card debt was $6,329, which is a 6% increase from the same time in 2023.
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