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from the I-can-spend-until-I-reach-my-credit-limit,-right? dept.
If you have credit card debt, it may be time to scale back what you spend on luxury purchases.
But we’re not talking about doing without small luxuries like your morning coffee or an afternoon snack – things like your car loan or lease, leisure travel, dining and more can make a bigger difference.
A new CreditCards.com poll shows U.S. consumers who have credit card debt are outspending debt-free households in seven of nine discretionary spending categories (see chart). However, few are willing to cut back on any of their luxury purchases.
In fact, 18 percent of Americans who have credit card debt are unwilling to trim expenses in nine categories, including dining out, leisure travel and clothing (see chart). This despite the fact that the average credit card APR is nearly 18 percent.
[...]Our luxury spending poll also found:
- Many can live without dining out. Dining and takeout is the category all respondents – in debt or not – are most willing to cut in half. Still, less than half of those with credit card debt (48 percent) would trim their dining budgets, which average $2,186 per year.
- But vacations are a big budget item many won’t budge on. The average household with card debt spends $2,211 per year on leisure travel. But only 3 in 10 of those respondents would be willing to cut their travel spending in half.
- Cars, haircuts and cellphone plans are the biggest must-haves. The three categories people in debt were least willing to cut in half are personal care and beauty (23 percent), cellphone services and upgrades (25 percent) and car loans or leases (26 percent).
- Cut my streaming? You’re dreaming. Only 39 percent of respondents with debt would be willing to cut back on subscriptions services such as Netflix, Spotify and Xbox Live. However, at $1,198 per year, it’s the second-least-costly luxury expense among this group.
https://www.creditcards.com/credit-card-news/luxury-spending-poll/
(Score: 2) by FatPhil on Saturday July 13 2019, @08:53AM (1 child)
And what's a hangover? I just wake up still drunk, that's what the professionals do.
Great minds discuss ideas; average minds discuss events; small minds discuss people; the smallest discuss themselves
(Score: 3, Insightful) by JoeMerchant on Saturday July 13 2019, @11:58AM
to prevent things that bother you. I've known more than a few people who are continually "grossed out" by the slightest scent of anything but bloody gums and peppermint.
Over the last 30 years I've only found one dentist I actually thought "served the patients" and about 6 who are apparently in practice to take as much of your money as possible. As such, I tend to go to the greed mongers once, get disillusioned, and stay away from the profession for 2-3 years before trying again. I never have a complaint, so I suppose I'm proving the greed mongers wrong too.
My wife tends to accept the suggested dental services more willingly, it does not seem to have done any good for her (one extraction for extreme pain, another on the way...)
🌻🌻 [google.com]