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the debt (lemmy.world)

submitted 6 months ago by [email protected] to c/[email protected]

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[–] [email protected] 1 points 6 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.

[–] [email protected] 0 points 6 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.