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.
Kory Kantenga, Head of Economics, Americas at LinkedIn, breaks down hiring trends, labor-market resilience and where employers are still seeking workers.
Vanessa Hudgens and Oliver Trevena, co-founders of Caliwater, reveal why they’re betting on cactus water, the rise of healthy beverages and plans to grow bigger
Adam Turnquist, Chief Cross-Asset Strategist at LPL Financial, breaks down why stocks remain near records despite higher oil prices, rates and Fed tightening.
