"He says he doesn't need a calendar to know what day of the month it is. By the time his salary and that of his wife, who also works full time in a shop, run out, it is around the 15th. From then on, they look for extra jobs, find things to sell, use their credit cards, and get small loans to pay for basics, including food, until the next paycheques arrive."
"Over the past 25 years, we have worked hard, and our jobs allowed us to build a house from scratch, buy a car and give our 17-year-old son a decent life. Now, we have better jobs than we did then, and still cannot even afford food for the whole month. Living on credit puts you in a very dangerous cycle. It's very easy to fall behind with payments, and then it is a matter of chasing your own tail."
Nearly half of Argentinians are using savings, selling belongings, or borrowing from banks or relatives to cover basic needs. Sixty-three percent of households have cut down on activities or services to make ends meet. Some families exhaust monthly income by mid-month and resort to extra jobs, selling possessions, credit cards, and small loans to buy food until the next paycheques. Even households with multiple full-time jobs struggle to afford food for a full month. Dependence on credit creates a dangerous cycle of missed payments, chronic stress, and anxiety among a large portion of the population.
Read at www.aljazeera.com
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