We have been fortunate with the stimulus checks, but we have undoubtedly seen the last of them. Many used the money to pay down credit card debt, but there are still people in credit trouble thanks to the pandemic.
Coping with Costs
Consumers got used to delivery service during the quarantines. Instead of going to the supermarket for groceries, the supermarket came to the consumer. Delivery cars and trucks became frequent visitors. People used credit, not cash, to pay for the services. They are now in the habit of shopping on the Internet and paying for the delivery with plastic.
College debt holidays are going away soon. These bills must be paid, and personal budgets must be re-calculated to pay the cost. Financial wellness can be taking a beating. Continue reading