{"id":88732,"date":"2025-08-16T01:00:09","date_gmt":"2025-08-16T08:00:09","guid":{"rendered":"https:\/\/lenpenzo.com\/blog\/?p=88732"},"modified":"2025-08-22T08:54:46","modified_gmt":"2025-08-22T15:54:46","slug":"black-coffee-16-aug-2025","status":"publish","type":"post","link":"https:\/\/lenpenzo.com\/blog\/id88732-black-coffee-16-aug-2025.html","title":{"rendered":"Black Coffee: Welcome to the (Debt) Jungle"},"content":{"rendered":"

\"\"It’s time to sit back, relax and enjoy a little joe<\/em> …<\/p>\n

Welcome to another rousing edition of Black Coffee, your off-beat weekly round-up of what’s been going on in the world of money and personal finance.<\/p>\n

Well… another busy week is behind us. So with that in mind, let’s get this party started!<\/p>\n

He who is quick to borrow is slow to pay.<\/em><\/p><\/blockquote>\n

\u2013 German proverb<\/strong><\/p>\n

There are three kinds of people: the haves, the have-nots, and the have-not-paid-for-what-they-haves.<\/em><\/p><\/blockquote>\n

\u2013 Earl Wilson<\/strong><\/p>\n

Credits and Debits<\/strong><\/p>\n

Credit:<\/strong><\/span> Did you see this? A new survey was released last week that reveals the average US household was in debt to the tune of $152,653<\/a> at the end of June 2025. While the headline was supposed to convey shock, if one considers mortgage debt, then this total seems more than reasonable. On the other hand, for household that don’t hold a mortgage, that figure is indeed a bit problematic. Behold, Exhibit A …<\/p>\n

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Debit:<\/strong><\/span> By the way, the same survey found that two out of every five American households admit that debt was a source of conflict<\/a> in their homes. Hopefully, those households will be able to sort our their troubles before it breaks them up because divorce lawyer bills will only make their debt mountain higher.<\/p>\n

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Debit:<\/strong><\/span> On the other side of the ledger, just 1 in 4 consumers making more than $80,000<\/a> annually have enough savings to cover a year\u2019s worth of living expenses. Even worse, more than half (56%) wouldn\u2019t last six months. Sheesh. You\u2019d expect high earners to be better prepared \u2013 especially in this softening job market \u2013 but that\u2019s not always the case. Frankly, we’re not willing to speculate on where to put the blame for this sorry statistic because we simply don’t have enough clues to make an informed assessment. Unlike here …<\/p>\n

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h\/t: @spillthememes<\/p><\/div>\n

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Debit:<\/strong><\/span> It\u2019s possible that Americans\u2019 savings status may grow more tenuous if you consider that US stores are now reportedly shuttering their doors at an annualized pace that surpasses even the rapid business closings during the pandemic years. During the first six months of this year, 5822 store closures<\/a> were recorded. Probably by someone like Miss Jones …<\/p>\n