It depends on what you mean by afford. Month-to-month the payments aren't too bad, and then credit can be used to pay for other living expenses if they come up short.
It's not healthy to live this way, but a lot of people do. Then they build up huge amounts of debt and it becomes a nightmare because it's spread all around from a billion different creditors.
There are a lot of people out there in a significant amount of debt. A LOT. When you see someone driving a Lexus or a Mercedes, don't assume that they own it, and don't assume that it's all fully paid and they aren't living off of credit.
Mass reserves of cash stashed away
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It's easy to get them but are they able to afford them?
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Sog
7 years ago
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It depends on what you mean by afford. Month-to-month the payments aren't too bad, and then credit can be used to pay for other living expenses if they come up short.
It's not healthy to live this way, but a lot of people do. Then they build up huge amounts of debt and it becomes a nightmare because it's spread all around from a billion different creditors.
There are a lot of people out there in a significant amount of debt. A LOT. When you see someone driving a Lexus or a Mercedes, don't assume that they own it, and don't assume that it's all fully paid and they aren't living off of credit.