San Antonio ranked among worse nationwide for Americans in debt. (Howe: mortgage, student loans)

[Azure110]

This doesn't surprise me at all....

San Antonio ranks worst, in part due to a car culture that leads to residents taking on significant debt to buy the automobile of their dreams, McFadden said. Residents of the city have a high average non-mortgage debt rate of 53.1 percent of their income.

https://www.dailymail.co.uk/news/art...ive-means.html

[River City Rocky]

Guilty

[TexasBard79]

Thank God I'm not that far gone. My total debts aren't high... but in San Antonio, no one pays for anything. We don't even fund our city properly.

[Hedgehog_Mom]

The article says San Antonio, TX but the map in the article says San Antonio, CA. I wonder which they really mean.

[TexasBard79]

San Antonio millennials burdened with more debt than anywhere in U.S. - CultureMap San Antonio

I might have been able to confirm the news, Hedgehog_Mom. According to this article, it's legit though the article reported it on that particular generation.

[Deep Forest]

Originally Posted by Hedgehog_Mom

The article says San Antonio, TX but the map in the article says San Antonio, CA. I wonder which they really mean.

An obvious mistake.

[Azure110]

Originally Posted by Hedgehog_Mom

The article says San Antonio, TX but the map in the article says San Antonio, CA. I wonder which they really mean.

I missed that but I guess whomever made the map made a mistake with the state abbreviation being that California seems to have a lot more well known cities named: "San XXXX..".

[TexasRedneck]

Unfortunately, it goes hand in hand with the "we're good as long as we have AAA bond ratings" mindset. Folks have GOT to learn that debt is the worst thing to have - most of our grandparents (and for the older ones here, even our parents) warned us repeatedly about going into debt - they lived through a recession that saw many lose everything because of debt they could no longer repay.

There's NOTHING more damaging to your soul than to watch everything you have being taken away. The worst part is, it's such a slow progression that most don't recognize it until it's too late. I've been there, and have the tshirts in multiple styles to prove it. Maybe that's why you see some of us so passionate about it - living it first hand. And it's not an easy hole to dig out of - it's also when you learn just who your real friends are. I see folks out there, trading in cars they're upside down on, getting 5, 6 and 7 year loans on them because "that's the only way they can afford them". I want to scream "Then you CAN'T afford them!"

[elnina]

Yeah... Lots of people love to live beyond their means, because for many there is no consequences. When debts accumulate to unbearable amount, they just file bankruptcy, and start the same lifestyle again.
While the majority of their debts are generally wiped clean, 401(k) account remains untouched and so is their house, personal belongings, and in most cases their car. Especially if they make regular payments.
And one can file for bankruptcy twice or even three times, even if they have received a discharge. So, why bother with humble living?
//www.city-data.com/forum/san-a...le-living.html

According to:
https://www.nbcnews.com/better/healt...lth-ncna816411

...as many as 78% of American full time workers are living paycheck-to-paycheck. Not all earn so little, of course - they seems just to like spend it all, and beyond.
However, with per capita income lower than virtually every other big city in Texas, San Antonians are just more notorious for it.
Poor can't catch up with rising costs of living, or are crushed by student loans, richer love to buy expensive stuff they can't afford.

[Hedgehog_Mom]

Originally Posted by Azure110

I missed that but I guess whomever made the map made a mistake with the state abbreviation being that California seems to have a lot more well known cities named: "San XXXX..".

The map was pointing to a spot in California too.