pete: not because wages have not kept pace with inflation. please sizely they have not. higher of inflation is higher than the rate of wake increases people are falling behind. you need that second income, that second job, the side hustle to get on with life and put holiday food on the table or buy presents for the kids. already dipping deep into your savings and credit card use is going straight up. go for a second job to make up for it. steve: but the problem is if you have one job and it s got fixed hours, you have got to have something your side hustle has to be job. here in the new york city market running ads on the radio for uber. listen, you need a side hustle? can you drive when you want to drive, make as much money as you want to make the fact that gasoline prices are coming down.
chickenen in nyquil. thank you. to news about your money. more americans are racking up long term credit card debt. this is a double whammy now. high inflation, driving more credit card use, then higher interest rates meaning you have to pay back much more. so let s bring in cnn business correspondent alison kosik, with the details. okay, break down the numbers for us. you summed it up really well because as americans are really trying to make a decision, should i pay on my credit card for my medical bills or groceries, as we see inflation and interest rates move higher, that s a decision, and we re finding out from these studies that it turns out americans are charging more on their credit cards, and not only that, they re carrying that debt longer. 60% of those are actually carrying that debt for more than a year. 40% are carrying it for at least two years. the problem with this is that we already know that credit cards carry a high interest rate.
More and more penny-pinching young Chinese are lashing out at consumerism by leading an increasingly frugal life amid growing anti-consumerist sentiments.
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