this post was submitted on 07 Jun 2024
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the debt (lemmy.world)
submitted 5 months ago by Varven@lemmy.world to c/memes@lemmy.ml
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[โ€“] damnedfurry@lemmy.world 1 points 5 months ago (1 children)

1 in 4 households earning over $100,000 a year live paycheck to paycheck--not because they can't make ends meet, but because their money management sucks. A high income has very little relationship with responsible borrowing, despite what many would assume.

[โ€“] Catoblepas@lemmy.blahaj.zone 0 points 5 months ago

If you stop paying your car or home loan it gets repossessed, people with bad money management still have incentives to pay those on time.