Many Americans are experiencing financial hardship due to the rising expenses of basic needs including housing, transportation, and credit card debt. Personal income fails to keep up with spending for three months.
With the median mortgage payment exceeding the cost of rent by $1,000 per month and average new car payments and used car loan interest rates reaching new highs, households are feeling the strain of increasing expenses. The milestone of $1 trillion in credit card debt, coupled with record-high interest rates of 25%, underscores the growing …
