[codefreakxff]

I'm.. not even sure how to respond to this.

I'll just address the underlying sentiment that credit card debt is just fine and totally normal.

It's really a question of poverty vs convenience. If I use my credit card because it is convenient and I can pay off my bills, great. No problem. But if I am so poor that I have no choice but to put everything on a credit card, then every purchase is 10%, 20%, or even 30% more expensive - heck, it might be 3000% more expensive because there are many people who are making minimal payments just to get by every month.

So, no, you silly analogy about your grandparents is not what we are talking about here. We are talking about people right now, today, who are living paycheck to paycheck, not sure how they are going to pay for food and for the medical care they need, and making really hard choices. And your mockery is inappropriate.

[perl4ever]

>I'll just address the underlying sentiment that credit card debt is just fine and totally normal.

I think your point that a credit card can't save someone that consistently spends more than they earn is correct.

Neither will a few thousand dollars in cash.

I don't believe 60% of Americans are in this category anyway. I don't think anyone seriously does believe it. Do you?

What we are talking about, in my view, is whether having substantial cash reserves has any relationship to risk of imminent financial disaster. Or if it's a weird anachronism.

[codefreakxff]

Not sure where you got 60% from. I said 65% of people had the money, and 35% of people did not. Is that accurate? The number comes from my interpretation of this one study. I would put some confidence in the number being between 25-35%. Again, 60% is a made up number - so no, I don't agree with that number.