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.
Abigail Buckwalter, President and CEO of Ocean Spray, discusses its “Bog Core” fashion collection, reaching Gen Z and reinventing an iconic cranberry brand.
Chris Yu, founder and president of ALSO, explains how the Rivian spin-off is reinventing electric bikes and developing new solutions for urban delivery.
Irene Solaiman, Hugging Face's Chief Policy Officer and SVP of Strategy, discusses open-source AI, model sharing, safety and the fight for transparency.
Jack Withinshaw, CCO and co-founder of Airspeeder, explains how electric flying car racing could revolutionize motorsport and the future of transportation.
