I saw a statistic somewhere about the fact the nationwide savings average is actually in the negative if you include nationwide numbers for debt. More people are in bigger debt today than have anything to speak of saved for that rainy day.
It’s more than just a little disturbing if you realize that even the 20% of people who have 80% of the world’s wealth can’t compensate for all the people in debt. Apparently, we have a great big spending problem.
…and it all centers around one horribly wrong belief with credit cards.