Who was Destiny’s Child singing their hit song “Bills, Bills, Bills” to? Jay-Z? 💰🎶 Well, maybe they can ask him to also pay our telephone and automo-bills. Then, maybe we can chill. 😽
According to the Wall Street Journal, even people with bigger paychecks are in the red. As layoffs surge along with the cost of living, everyone’s feeling the burn. 🔥
Here’s Five Fast Facts on debt stress in America:
- 🆘 Income Therapy - Credit counseling isn’t just for low earners anymore. The average client now makes around $70,000 a year and carries almost $35,000 in unsecured debt. Before the pandemic, those numbers were closer to $40,000 in income and $10,000 in debt.
- 🥴 Backed Up - About a third of borrowers seeking counseling are already behind on their bills. Many are still managing to stay current on credit cards, even as other payments like utilities start to slip. Revolving credit has become a financial lifeline for keeping everything else afloat.
- 📆 Pay Delay - Delinquencies are also creeping up again. The Federal Reserve Bank of New York says 4.8% of household debt was delinquent in the fourth quarter, the highest level in seven years. That clock starts once payments hit the 30-day-late mark.
- 📉 Low Blow - While higher income folks are behind on bills, money stress is hitting lower-income borrowers the hardest, especially with credit cards and car loans. Even buying a first home is getting tougher, with about 13% of FHA borrowers behind on payments.
- 🤔 Magic Math - All this news runs against some pretty strong economic signals. The Bureau of Labor Statistics reported the strongest job growth in more than a year last month and consumer spending rose 2.7% in 2025. Interesting indeed!
🔥Bottom line: Ladies, if your man doesn’t pay his bills, bills, bills, give him a little TLC. And by that we mean blast “No Scrubs” in his ears. If you got a raise this year and you were less than impressed, you’re not alone. Many Americans are in the same boat. Wondering where getting a raise really felt like getting a raise? Read this article.
Thinking of enrolling in credit counseling?
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