[quote=Allan from Fallbrook]I watch the number of people that pay for groceries with credit cards and locally that number is about 6 out of 10. Not debit cards, credit cards.
For far too many years, people equated wealth with credit and the two have nothing to do with each other. The people really getting squeezed are those that relied on having access to all that credit and now it’s being taken away.[/quote]
Add me to the chorus of people who pay for groceries with the credit card (costco amex) and get the cash back. I pay the bill in full every month, don’t carry a balance.
I agree with your statement about people getting confused between available credit and wealth. To me, wealth is having lots of large assets that are owned outright… not mortgaged. If you’re making payments on all of your stuff (house, cars, boats, etc.) you might not be as wealthy as you look.
