Credit card balances spiked in the third quarter to a $1.08 trillion record. Here's how we got here
Credit card balances spiked in the third quarter to a $1.08 trillion record. Here's how we got here
Strong consumer spending boosted credit card balances to a new record high in the third quarter, according to the Federal Reserve Bank of New York.
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Makes me wonder how people are managing it.
I get paid every 2 weeks and I go through and pay down or pay off all my cards every payday.
When I put them back in my wallet, I put the paid off cards in first, and the not paid off cards upside down so I don't unintentionally add more debt to them.
As of last Friday, I have two cards that are not fully paid off. One with a 0% loan on a large electrical project, the 0% deal expires in April, but I expect to pay it off in January.
The other has a brand new $1,000 debt because I just paid my Christmas lights install company.
You went into debt on a credit card so you could pay someone else to install Christmas lights?
What a world, don't tell my wife.
Not just Christmas lights, they're cleaning the gutters too, and taking the lights down after the holidays.
Just over $1,000.
Jesus. That is an insane amount of money for that unless you live in a 5000+ sf. house.
Part of the penalty of not being able to do it myself. :( If we had a moss problem, they would treat that too, but the roof is only a year old. :)
Did you get a few quotes? The gutter cleaners near me charge less than $300 and I have a two story house. It's close to upper $100s if only one story. Shop around and save yourself the coin unless that's not an issue for you.
I imagine hanging lights shouldn't be that expensive unless it's the first time and they are installing light hooks to be reusable each year.
Oh yeah, it wasn't this bad when we started using them 2 years ago, but inflation is hitting everything.
You really aren't the average person if you can pay $1000 to have your Christmas lights installed. I'm trying to even envision the Christmas light situation at your house that could possibly cost that much to put up. It must be impressive.
There's some custom work done because we have this awesome round window that's hard to work with.
This was last year:
Interesting. Most people don't have any round windows!
I know, right? It was the first thing that made this house stand out.