More Americans buying groceries on credit
Summary
More Americans are using credit cards to buy groceries, according to a study by the Urban Institute. This shows that some people may be struggling to pay for food with cash or debit cards.Key Facts
- The Urban Institute conducted research on grocery shopping habits.
- The study found an increase in using credit to buy groceries.
- Using credit means people borrow money from their credit card companies and pay it back later.
- More people relying on credit for groceries might indicate financial difficulties.
- Michelle Singletary, a financial expert, discussed reasons behind this trend.
- The story was featured on CBS News and covered in The Washington Post.
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