Debtor Nation: More Americans Going Into Debt Just To Buy Food

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A new survey finds that nearly two-thirds of working-age adults use credit to purchase their groceries, with many finding it increasingly difficult to pay it off.

The survey, published by the Urban Institute in mid-July, was conducted in December and found that low-income families are the most affected by a perceived increase in grocery costs, making the exchange of debt for food appear to be their only option.

The institute found that 34.9 percent of working-age adults, defined as those between the ages of 18 and 64, used a credit card to pay for their groceries but reported that they would pay the bill back in full. Another 19.6 percent reported they were capable of only making the minimum payment on the debt they incurred, while another 8.7 percent reported not always being able to make the minimum payment.

“There is a substantial portion of people all around us who are having trouble being able to afford groceries and meet their basic needs,” Kassandra Martinchek, one of the report’s authors and a senior research associate at the Urban Institute, told The Washington Post.

The survey also determined that nearly 10 percent of working-age adults use Buy Now, Pay Later options to purchase groceries, with more than one-third having missed a payment. (Read more from “Debtor Nation: More Americans Going Into Debt Just To Buy Food” HERE)