It's no surprise why many Americans struggle with credit card debt – we spend more on our credit cards than we pay off at the end of the month. What are the expenses that drive that debt? It's probably not what you think.
Based on a new survey from CompareCards.com by LendingTree, the majority of credit card debt doesn't come from frivolous spending – this is obtained from basic expenses. 42% of survey respondents cited making ends meet as the biggest reason for their credit card debt, well ahead of car repairs at 29% and medical bills at 27%.
Some reasons listed in the survey are relatively easy to control, such as eating out and clothes shopping (both taking the fourth place at 22% each). Millennials were more inclined to indulge in these two expenses, with 31% reporting eating out as a main reason for their debt – the second-highest debt excuse among this age...
from MoneyTips https://www.moneytips.com/the-main-reason-for-credit-card-debt/863
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