Credit card debt in America has reached $905 billion dollars, according to a recent NerdWallet survey. Kimberly Palmer, Personal Finance Expert at the company, joins Cheddar to explore some of the reasons behind the increase.
Two categories have outpaced income growth over the past decade: medical expenses and food. Healthcare costs, in fact, have increased by 34% while income has only grown by 20%. She gives some alternatives for how to pay off those expenses without whipping out the credit card.
Plus, people always say you're throwing out money when you rent a home, but how much money are homeowners throwing away in credit card interest? Palmer says that a house may be a great asset, but owners tend to ring up double the amount of credit card interest versus renters when spending on things like upkeep.
Rising gas prices continue to worry Americans.
A new report showed that a small portion of American homeowners chose not to purchase homeowners insurance as premiums rise.
The federal government is fining American Airlines $4.1 million for dozens of instances in which passengers were kept on board planes without a chance to exit during long ground delays.
Heather Barnett, editor with Money Crashers, joined Cheddar News to discuss ways to cut down costs when living alone and what apps to use to stay on budget.
Sean Burgess, chief claims officer with Lemonade, joined Cheddar News to provide tips on how to handle finances and expenses with roommates and which apps are best to use when doing so.
Tesla is defending itself in the first trial against its autopilot assistance feature.
3M has reportedly reached a tentative agreement to pay over $5.5 billion in a settlement from a lawsuit that claimed it sold defective combat earplugs.
Spirit Airlines will pay up to $8.3 million in a class action lawsuit over hidden fees.
Flights in the UK experienced delays after technical issues.
Robotics company Switchbot is working on a new product that helps vacuum and mop.
