'I’m making the most money I've ever made, and I’m still living paycheck to paycheck'

“There’s this wild disconnect between what people are experiencing and what economists are experiencing,” says Nikki Cimino, a recruiter in Denver.

  • QuaternionsRock@lemmy.world
    13·
    8 months ago

    For Denise and Paul Nierzwicki, credit cards are the only way to make ends meet. The couple, ages 69 and 72, respectively, have about $20,000 in debt spread across multiple cards, all with interest rates above 20%.

    The trouble started during the pandemic, when Denise lost her job and a business deal for a bar that they owned in their hometown of Lexington, Kentucky, went bad.

    They applied for Social Security, which helped, and Denise now works 50 hours a week at a restaurant. Still, they’re barely scraping together the minimum payments for their credit card debt.

    Jesus. I don’t see how this gets un-fucked without a massive wave of defaults. And that’ll just lead to a different kind of fucked.