Thursday, July 19, 2018
Business

Study: One in five Americans with debt believe they will die that way

More than one in five Americans with debt believe they will die that way, according to a study from CreditCards.com, an agency that helps people manage credit cards.

The group's survey ( tbtim.es/sze) found that 21 percent of Americans with debt don't believe they will ever pay it off, up from 18 percent who felt that way last year and 9 percent who did in 2013.

While the number of Americans who feel they'll never shed their debt is climbing, so, too, are the number of people without any debt, the CreditCards.com survey found. About 22 percent of Americans are debt-free, up from 14 percent last year.

The juxtaposition of these two trends shows "America continues to polarize into a nation of haves and have-nots when it comes to debt," the group said in a news release.

"It's a troubling divide," Matt Schulz, CreditCards.com's senior industry analyst, said in the release. "While it's great to see more people freeing themselves from debt, the fact that more and more people still feel trapped and hopeless means that Americans still have a major problem with debt."

While most people with debt don't believe they'll die owing money to someone, almost half say they'll be in debt until at least age 61.

Perhaps surprisingly, millennials with debt are the most optimistic that they can climb out of it before they die: Only 11 percent think they will never get out of debt.

Some other tidbits from the study:

• People with children are more likely to say they will remain in debt than those without kids — 23 percent to 17 percent.

• More minorities say they'll be unable to become debt-free than white people — 24 percent to 16 percent.

• A greater portion of Republicans believe that they'll stay in debt than Democrats — 25 percent to 14 percent.

Schulz said people can start to climb out of debt by creating sensible budgets, tracking their expenses, seeking out zero-percent-interest balance-transfer offers and negotiating lower interest rates on current credit cards.

Comments
Trump ready to hit all Chinese imports with tariffs

Trump ready to hit all Chinese imports with tariffs

Associated PressPresident Donald Trump has indicated that he’s willing to hit every product imported from China with tariffs, sending U.S. markets sliding before the opening bell Friday. In a taped interview with the business channel CNBC, Trump said...
Updated: 1 hour ago
Tampa Bay and Florida businesses expect tariffs to drive prices up

Tampa Bay and Florida businesses expect tariffs to drive prices up

TAMPA — Tariffs imposed by the Trump administration and other countries are beginning to push up prices and depress demand in spots around the Tampa Bay area and Florida, business executives say."We’ve definitely seen that the tariffs have increased ...
Updated: 3 hours ago
Get this: Bank of the Ozarks is the country’s largest construction lender

Get this: Bank of the Ozarks is the country’s largest construction lender

This surprised me: Little ole Bank of the Ozarks is the country’s largest construction lender, loaning out more to the industry than financial heavyweight Wells Fargo and Bank of America.Those factoids were part of a lengthy profile of the bank pub...
Updated: 4 hours ago
When suicide threats come calling: ‘I try to make a connection.’

When suicide threats come calling: ‘I try to make a connection.’

TAMPA — At first glance, it’s a typical office with more than a dozen cubicles under florescent lights. The operators wear headsets and stare into computer screens, some tinkering with handheld toys, others browsing Facebook or chatting with colleagu...
Updated: 7 hours ago
St. Pete residents storm City Council with allegations against Kevin King

St. Pete residents storm City Council with allegations against Kevin King

ST. PETERSBURG — At Thursday’s City Council meeting, seven residents called for the resignation of Mayor Rick Kriseman and Kevin King — one of his closest confidants — over allegations that King "preys" on homeless black men.Jesse Nevel, the vice pre...
Published: 07/19/18
OSHA has open inspection into Clearwater company MagneGas

OSHA has open inspection into Clearwater company MagneGas

CLEARWATER — The federal Occupational Safety and Health Administration has an open inspection into a safety-related incident involving Clearwater-based MagneGas Corp. A federal investigator opened the inquiry into the publicly-traded alternative fuel...
Published: 07/19/18
Winn-Dixie remodeled in Tampa opens as sixth made-over store this year

Winn-Dixie remodeled in Tampa opens as sixth made-over store this year

TAMPA — Winn-Dixie unveiled another remodeled store, the sixth in the area, after promising to remodel much of its chain following its emergence from bankruptcy this year.The made-over store at 805 E. Dr. Martin Luther King Jr. Blvd. has a host of ne...
Published: 07/19/18
Starbucks to open its first U.S. sign language store

Starbucks to open its first U.S. sign language store

WASHINGTON — Starbucks has more than 8,000 stores nationwide. One of them will soon be run entirely in American Sign Language.Starbucks’ first signing store in the United States will hire 20 to 25 deaf, hard of hearing and hearing partners with the r...
Published: 07/19/18
State Rep. Janet Cruz calls to cut off state ties with SunPass contractor, waive toll fees

State Rep. Janet Cruz calls to cut off state ties with SunPass contractor, waive toll fees

TAMPA - State Rep. Janet Cruz, D-Tampa, says she’s fed up with Florida’s problems with the SunPass tolling system that have persisted since early June.She’s asking the state to address what she referred to as the "gigantic racket" with the following ...
Published: 07/19/18
St. Petersburg beef company recalls more than 6,000 pounds of meat

St. Petersburg beef company recalls more than 6,000 pounds of meat

ST. PETERSBURG — A St. Petersburg wholesale meat retailer is recalling more than 6,000 pounds of fresh and frozen beef because of possible E. coli contamination, the USDA said Thursday.Five products produced by the St. Petersburg-based Ottomanelli Wh...
Published: 07/19/18