I know this might just reflect financial culture differences across countries, but let’s give it a try

Edit: as a clarification, I meant credit card compared to debit, not to cash

  • JackbyDevEnglish
    1•2 years ago

    The report, which was published by researchers at the Becker Friedman Institute for Economics at the University of Chicago, found that borrowers who paused their debt payments “sharply increased mortgage, auto and credit card borrowing,” compared to those who continued paying their loans.

    • @[email protected]English
      1•2 years ago

      Yeah, what did you expect them to do, be responsible and invest 100% of their paused payment in investments with guaranteed upside? Have you met people? This is why stopping payments was stupid.