eek2121 , 11 months ago

I admittedly haven’t looked at the article, but they are likely measuring based of a fixed snapshot in time, which tells you zero about the actual debt.

Example: at any given point in the month I have 5 figures of CC debt, but I always pay every card in full each month (I never carry a balance) and have enough money to zero everything out if something happens. Because of this it looks like I have high debt load when I really don’t. I do this because it simplifies payments, allows me to collect rewards, keeps my bank account/debit card out of mainstream use (which helps prevent my account info from getting stolen/misused) and allows cash to stay in my accounts just a bit longer earning that sweet 5% interest.

That being said, not everyone does that and many folks are likely in over their head.