Posted 4/9/2024, 8:01:00 PM
Rising Prices Drive Americans to Borrow More, Adding to Debt Burdens
- Many Americans are borrowing more money to cover basic living expenses as prices rise, adding to debt burdens
- Interest payments are becoming a bigger financial burden, especially for lower income Americans
- Unexpected expenses like medical bills and home repairs are forcing people to rack up credit card debt
- Some are relying on 0% interest credit card offers and loans to stay afloat, but worry about repaying debts
- With wages not keeping pace with costs, some feel the "American dream" is increasingly out of reach and are considering leaving the country