Credit card debt in America has reached $905 billion dollars, according to a recent NerdWallet survey. Kimberly Palmer, Personal Finance Expert at the company, joins Cheddar to explore some of the reasons behind the increase.
Two categories have outpaced income growth over the past decade: medical expenses and food. Healthcare costs, in fact, have increased by 34% while income has only grown by 20%. She gives some alternatives for how to pay off those expenses without whipping out the credit card.
Plus, people always say you're throwing out money when you rent a home, but how much money are homeowners throwing away in credit card interest? Palmer says that a house may be a great asset, but owners tend to ring up double the amount of credit card interest versus renters when spending on things like upkeep.
X, the social media platform owned by Trump adviser Elon Musk, is challenging the constitutionality of a Minnesota ban on using deepfakes to influence elections and harm candidates.
Seth Goldstein, Equity Strategist at Morningstar, breaks down Tesla's earnings report, talks Musk's future with the company and how stocks have responded.
Senior Health Correspondent for TIME, Alice Park, gives us a deeper look into how Eli Lilly's new pill orforglipron may change the healthcare industry.
Archer Aviation CEO Adam Goldstein talks about the advancements in electric air taxis and how his company is changing the future of air transportation. Watch!
