The wealth gap in the U.S. has significantly widened over the past three decades, with the top 1% now holding around 33% of total wealth, up from just 22.8% in 1989. Conversely, the bottom 50% have seen their share drop from 3.5% to 2.8%. Finance coach Dave Ramsey attributes this disparity to the financial choices made by Americans, particularly how wealthier individuals approach spending and credit. Wealthy households often pay upfront to avoid interest, while those less fortunate engage in costly borrowing practices, exacerbating financial inequality.
The gap between the wealthy and the poor continues to widen, with the top 1% holding a third of wealth. Financial decisions play a key role in this trend.
Richer Americans tend to prioritize total costs over monthly payments, avoiding interest that burdens the middle class, who may rely on rewards systems.
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