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Re:FICO to incorporate buy-now-pay-later loans into credit s... by darth_avocado on Tuesday June 24, 2025 @01:37PM (#44368689)
> The "average person" is told from birth to consume as many things and experiences as possible as it if was the only thing that could give their life a meaning.

The “average person” doesn’t make enough money to pay rent or afford groceries. You’re blaming the poor based on your idea of what an “average person” looks like, which is a representation of middle and upper middle class. The average person doesn’t have the luxury to consume as many things and experiences as possible.

Re:FICO to incorporate buy-now-pay-later loans into credit s... by joshuahedlund on Tuesday June 24, 2025 @01:45PM (#44368775)
Doesn't "average" = "middle class" by definition?

US median individual income in 2022 was $48k

https://en.wikipedia.org/wiki/Personal_income_in_the_United_...

> The “average person” doesn’t make enough money to pay rent or afford groceries

<1% of the US population is homeless, and ~10% receive food stamps. The average person makes enough money to pay rent and buy groceries.

Re:FICO to incorporate buy-now-pay-later loans into credit s... by darth_avocado on Tuesday June 24, 2025 @02:02PM (#44368953)
Just because people aren’t homeless and don’t qualify for food stamps doesn’t mean they can afford things.

You need to make less than $33k for a family of 3 to even qualify for food stamps and then get disqualified if your total assets are above $4.5K. If you’re an adult without children, your food stamps eligibility is capped at 3 months every 3 years. A lot of people who need food stamps, do not qualify for them.

Credit card debt is $1.2T, out of which 10% is delinquent for more than 90 days. https://www.stlouisfed.org/on-the-economy/2025/may/broad-con...

Student loan debt is at $1.7T.

People are going into debt to buy groceries. https://www.cnbc.com/amp/2024/05/20/americans-are-going-into...

The average American life is way worse than what people generally make it out to be.

Re:FICO to incorporate buy-now-pay-later loans into credit s... by JamesBarney on Tuesday June 24, 2025 @02:34PM (#44369276)
The median household income is 80k which is plenty to afford groceries and rent.

How did you come to believe that half the people in the richest country in the world can't afford to eat or have a roof over their head?

Re:FICO to incorporate buy-now-pay-later loans into credit s... by hackable_sand on Wednesday June 25, 2025 @02:01AM (#44374047)
Because it is a lived experience.

I will say the exact same thing for me and 90% of the people around me.

Re:FICO to incorporate buy-now-pay-later loans into credit s... by JamesBarney on Wednesday June 25, 2025 @10:30AM (#44377776)
I know a few people that are really struggling on 20k a year where they can barely afford groceries and roof. But based on all the data that isn't the norm.