Dave Ramsey says these are the two questions that separate rich people from poor people

Dave Ramsey points out that the rich tend to assess costs broadly, asking 'How much?' while the poor narrowly focus on 'How much down payment?' This reflects a mindset difference where wealthier individuals avoid overspending and consider long-term financial impact, unlike those who often find themselves in debt due to immediate financial decisions.

The average American carries a staggering $104,215 in debt, encompassing various forms of loans. The national debt is growing significantly, increasing by $1 trillion every fiscal quarter, indicating a clear trend of rising financial burdens on individuals and the economy as a whole.

Recent statistics show alarming trends: 45% of respondents have used credit cards for essentials due to inflation, 9% faced emergencies requiring credit use, and a shocking 35% have maxed out their credit cards, largely attributing this to rising prices.

The financial landscape illustrated by this data underscores the pressures affecting American consumers, with many reliant on credit to navigate everyday expenses while struggling under the weight of accumulating debts.

Read at 24/7 Wall St.