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Today’s post is sponsored by StreamYard.
They’ve got Teslas, beach houses, and more espresso machines than Starbucks—and yet, they’re hiding something. High earners with credit card debt are like toddlers with cookie crumbs on their faces: everyone knows, but they still deny it. A LendingTree survey says half of people making over $100K with credit card debt have fibbed about it. Lie to your partner? Oof. Lie to your accountant? Risky. Lie to your Peloton instructor? Bold.
Apparently, while a mortgage makes you a homeowner and student loans make you “an investment,” credit card debt just makes you… irresponsible? Even though the average balance is $7,321 with 21.4% interest (aka financial quicksand), folks would rather fake a second home in Aspen than admit to a Macy’s splurge gone wrong.
So here’s a hot tip: next time a rich friend says they’re “cash poor,” maybe don’t ask why—they might still be paying off last year’s yacht rental.
Read the full story here.
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