US credit card debt is 'certainly a reason for concern'

Credit card balances hit a record-high of $1.13 trillion in 2023's fourth quarter. LendingTree Chief Credit Analyst Matt Schulz joins Yahoo Finance Live to discuss consumer spending patterns as credit card debt is compounded by mounting pressures on household income.
Schulz believes there are “reasons to be hopeful” about consumer spending, considering inflation trends and forecasts indicating interest rate cuts at some point this year. However, Schulz says consumers have “seen their financial margin for error in their household shrink from a pretty small amount to almost zero,” which has ultimately driven them to increased credit card usage.
Schulz appears optimistic, but states plainly: “I think there is reason to think that things may get a little bit worse before they get a little better."
#youtube #Creditcards #youtube
About Yahoo Finance:
Yahoo Finance provides free stock ticker data, up-to-date news, portfolio management resources, comprehensive market data, advanced tools, and more information to help you manage your financial life.
- Get the latest news and data at finance.yahoo.com
- Download the Yahoo Finance app on Apple (apple.co/3Rten0R) or Android (bit.ly/3t8UnXO)
- Follow Yahoo Finance on social:
X: / yahoofinance
Instagram: yahoofinanc...
TikTok: www.tiktok.com/@yahoofinance?...
Facebook: / yahoofinance
LinkedIn: / yahoo-finance

Пікірлер: 22

  • @MrJimmy3459
    @MrJimmy34594 ай бұрын

    Well we've been normalizing debt for the past 60 years and this is the result of it, "well everyone needs a credit card, auto loans, student loans, make sure you have an 850 credit score or else you never going to get aheadh" utter nonsense. I'm 40 years old and my grandparents NEVER had or talked about debt, my father when he passed 4 years left his wife (my mom) thousands of dollars of debt. STOP thinking is ok to rack up debt, save money from each of your paychecks

  • @Shaolin91z

    @Shaolin91z

    4 ай бұрын

    It's ok to leave debt. Just make sure you know Jesus before you pass😂

  • @MikeCrawch

    @MikeCrawch

    4 ай бұрын

    @@Shaolin91z Is Jesus going to save my family from suffering from the debts that will be pass on to them? Is Jesus going to save them from being homeless?

  • @conquistador2

    @conquistador2

    4 ай бұрын

    @@MikeCrawch apparently lol

  • @mandisaw

    @mandisaw

    3 ай бұрын

    1- Most debt doesn't survive death. Credit card companies will try to pressure survivors/wids into paying off the deceased's accounts, but unless they had assets (in their name, not joint), the account closes as a loss when the borrower passes away. 2- Home & student loans are investments, but folks need to be smart about them. Lots of folks went YOLO after the pandemic, or give less thought to $50k loans than to spending $50 at the store. And few understand how interest even works. That's where the problem lies.

  • @Chriswilson-vg6vp

    @Chriswilson-vg6vp

    2 ай бұрын

    Theirs nothing left from paycheck after you buy groceries it’s 2024

  • @stackchn
    @stackchn4 ай бұрын

    Its especially bad now that the average credit card 💳 rate is 22%, hell Macy's is charging 31.99%.. High prices for EVERYTHING coupled with high interest rates % to borrow means households and businesses are in big trouble...

  • @jamesmarie
    @jamesmarie4 ай бұрын

    We are not better.

  • @eddiekulp1241
    @eddiekulp12414 ай бұрын

    Can try to make things look good is just wrong

  • @endlessorbaggins8223
    @endlessorbaggins82234 ай бұрын

    Sure he had not only to put his book in an easy to view spot but also plug it at the end of the video. The guy clearly know how to sell himself and make money.

  • @brandongriggs7869

    @brandongriggs7869

    4 ай бұрын

    hahahahaha I saw it too and had to check the comments to see if anyone else did

  • @peteroneil3639
    @peteroneil36394 ай бұрын

    these high interest rates on Everything are going to fold the economy !

  • @spirg
    @spirg2 ай бұрын

    you dont spend 200, when you make 100, people arent working and theyre living on plastic, and its gonna catch up to us...the WORST is yet to come.....

  • @ayeflippum
    @ayeflippum4 ай бұрын

    Why was my comment not displayed?

  • @berniecolling3697

    @berniecolling3697

    4 ай бұрын

    😳

  • @klein2252
    @klein22524 ай бұрын

    It’s true. I’m ok. I haven’t spent a dime on non necessities since 2021. I’m great. It’s businesses that are in trouble. What happens when business is in trouble? The consumer is in trouble. We’re all going to hell soon.

  • @Shaolin91z

    @Shaolin91z

    4 ай бұрын

    Speak for yourself as far as hell is concerned. We are not all going there😂

  • @user-ls9hs9iw3v
    @user-ls9hs9iw3v4 ай бұрын

    Biden bad economy and high inflation 🙁

  • @raywest3834
    @raywest38343 ай бұрын

    More wishful thinking on rate cuts.

  • @Shaolin91z
    @Shaolin91z4 ай бұрын

    Thanks Lord for your salvation Thanks Lord for your salvation Thanks Lord for bible study class

  • @ryang3564
    @ryang35644 ай бұрын

    Vote for Joe I'm sure he'll work it all out.