Sunday, November 30, 2025

Personal finance insanity: $50,000 in credit card debt + 21.39% interest rate = deep money pit to crawl out of

 
Headline:  New York Times, 11/27/2025

Juli Fraga and Connie Chang share a cautionary example:
A real estate agent in Englewood, Fla., Ms. Conti usually takes the day after Thanksgiving off from work to shop online with her mother. “We make a pot of coffee, put the shopping channels on and overdo it,” she admitted. 
This year, however, she’s trying not to spend a dime. 
That’s because Ms. Conti has over $50,000 in credit card debt, mostly because of her shopping habit. After spending $800 on Labubu dolls and $500 on Christmas decorations, Ms. Conti sought the help of a therapist.  [emphasis added]
She is now working hard to pay off her debt and change her habits.

Interest rates found at Federal Reserve.




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