When Liz and Jordan Ott were pregnant with their first child seven years ago, money was tight. He wanted to study web development but needed to do it full time, so he quit his job as a welder. She was transitioning jobs, too. Though the Saratoga Springs couple thought it through first and made plans, an income based on savings and a credit card was somewhat terrifying, she said.
Lots of Americans have used the same strategy, albeit often unwillingly, since COVID-19. And while the Otts have maintained their credit score and now have stable jobs and income, that’s not true for all Americans.