Consumer Credit Card Debt on the Rise: A Look at the Numbers and Potential Liquidity Issues | Money Moves

Millionaire Mindcast

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4.4 • 716 Ratings

🗓️ 26 April 2023

⏱️ 47 minutes

🔗️ Recording | iTunes | RSS

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Summary

In this episode of Millionaire Mindcast, the dynamic duo is back. Matty A and Ryan Breedwell talk about the rise of Consumer Credit Card Debt and potential liquidity issues, as well as this past week's updates on world news, finance, and other market updates. So tune in, and enjoy!

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Transcript

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0:00.0	A recent go banking rate survey found that 30% of Americans have between 1,000 and 5,000 in credit
0:06.0	card debt, 15% have 5,000 or more. 6% have 10,000 or more. And although 6% may seem like a small
0:14.3	amount, that means that based on the survey results, 14 million Americans have over $10,000 in credit card debt.
0:22.5	And over 39% of Americans believe that they will be able to pay their credit card
0:28.7	debt off within the next two years.
0:39.5	What's going on, guys?
0:42.4	Welcome into today's episode of Money Moves.
0:46.4	As always, your host, Mattie, my co-host, Mr. Breedwell.
0:47.7	Cheerio.
0:50.0	Ooi, oi, oi, oi.
0:57.3	We are covering all things, stocks, real estate, investing in personal finance to help you on your March 2 million and beyond.
1:02.9	As always, if you are not subscribed to the podcast, be sure to hit that subscribe button. If you enjoy anything that we talk about, any value, any of these conversations, all we ask is that you take two minutes to leave a review on whatever podcasting platform you enjoy listening
1:12.4	to this content on. And of course, don't forget to check out all the great stuff that we got
1:17.3	at Millionairemindcast.com for you guys, spreadsheets, trackers, checklists, all kinds of amazing
1:25.1	things that will ultimately put more tools on your financial tool belt.
1:30.0	And of course, don't forget to take advantage of the free financial X-ray by Mr. Breedwell and his amazing team,
1:36.2	which consists of what, Mr. Breedwell?
1:38.8	We will take a review of what you're currently doing with your assets.
1:43.1	Main thing is we have a third party analyst go through and tell you what the fees are,
1:47.5	what the performances look like, what the gaps are in the portfolio, any stock overlay that
1:52.0	we have in funds.
1:53.4	We'll do a comparison of what you're currently doing, what I think might be a good idea.
	...

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