''The Plastic Safety Net: The Reality Behind Debt in America" found that in low- and middle-income households, whites have the highest amount of credit card debt when compared with African-Americans and Hispanics. Somehow in the black community, the notion exists that we are America's biggest spendthrifts: our closets have more clothes, we tell each other we buy bigger and more expensive cars our credit card debt is worse than the rest of America.Īccording to an illuminating report by two public policy groups looking at credit card debt in America, it turns out that blacks aren't the biggest credit card users. She was especially embarrassed because she is African-American.
''Someone told me that poor credit is a sign that you don't have integrity," she said. She was struggling to keep current because she didn't want to be seen as a bad person. While we were talking, she admitted that she had a lot of credit card debt.
I M IN DEBT UP TO MY EYEBALLS HOW TO
A young woman was asking me recently for tips on how to save.
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