“If you have loans, the first thing you want to do is say, "Okay, look I have a credit card, if I really need to borrow, I have this emergency money that I can get, but for now there is no reason for me to keep cash at zero percent interest rate and at the same time, pay all of this money out. So, I think people need to figure out quickly how to pay loans and how much cash they should really keep.” PeopleIfsThinkingWantNeedsShouldFirstsLooksI CanReasonInterestPayFiguresPercentOkayRateCreditCardsNo ReasonZeroCashEmergenciesLoanCredit CardInterest Rate Author:Dan Ariely
“A cash advance on a credit card is one of the worst types of borrowing because the interest rate is typically 21 percent or more.” InterestWorstTypePercentRateCreditCardsCashCredit CardBorrowingInterest Rate Author:Suze Orman
“he economy favors throughput over quality and craftsmanship, and economists are terrified because the American savings rate has crept upward from about zero to almost five percent. But the mortgage crisis and the burgeoning credit card crisis are causing Americans to become wary of irresponsible debt.” QualityEconomyFivePercentCrisisRateCreditDebtFavorsCardsSavingZeroTerrifiedEconomistSavingsIrresponsibleMortgageCredit CardCraftsmanshipMortgage Crisis Author:Denis Hayes
“If you have credit card debt and credit card companies continue to close down the cards, what are you going to do? What are you going to do if they raise your interest rates to 32 percent? That's five times higher than what your kid is going to pay in interest on a student loan. Get rid of your credit card debt.” IfsKidsInterestPayCompanyFiveStudentsHigherPercentRaisesRateCreditDebtCardsLoanCredit CardInterest RateStudent LoanCredit Card Debt Author:Suze Orman
“If your company matches your 401(k) contribution, then no matter what, contribute to your 401(k) first. You put in a dollar, they put in 50 cents. It's an automatic 50 percent return on your money. You can't pass that up. I'd rather have the 50 percent than pay 32 percent interest on a credit card.” IfsFirstsMatterInterestPayCompanyReturnPercentNo Matter WhatDollarsCreditCardsContributionCentsCredit Card Author:Suze Orman
“If you have to pay about forty to forty-three percent of your income for housing, you also have to pay fifteen percent of your paycheck for the FICA for Social Security wage withholding. You have to pay medical care, you have to pay the banks for your credit card debt, student loans. Then you only have about twenty-five or thirty-five percent, maybe one-third of your salary to buy goods and services. That's all.” IfsCareThreeSocialPayFiveSecurityStudentsPercentThirdsTwentiesCreditDebtMedicalIncomeCardsThirtyFortyGoodsFifteenSocial SecurityHousingLoanSalaryCredit CardTwenty FivePaychecksMedical CareGoods And ServicesWithholdingStudent LoanCredit Card Debt Author:Michael Hudson
“Most of the productivity gains appear to go to the top 1 percent. Most people don't have enough income and as a result, they borrow additional money by using their credit card and they fall into high debt. The result of the growing income gap is a slower growing GDP (too few people with money to spend) and a rising tide of indebtedness.” PeopleEnoughFallResultsGrowingPercentGainsCreditDebtProductivityIncomeCardsRisingGapsTidesCredit CardGdpIndebtedness Author:Philip Kotler
“All they need to do is to set up some website somewhere selling some bogus product at twenty percent of the normal market prices and people are going to be tricked into providing their credit card numbers.” PeopleNeedsNumbersProductsNormalPercentTwentiesCreditSellingCardsProvidingWebsiteCredit Card Author:Kevin Mitnick
“Britain is a textbook case of how growing inequality leads to economic crisis. The years before the crash were marked by a sharp rise in remortgaging and the growth of 0% balance transfer credit cards. By 2008 the UK had the highest ratio of household debt to GDP of any major economy.” YearsGrowthCasesEconomyGrowingEconomicBalanceMajorsHighestPercentCrisisCreditDebtCardsInequalityBritainHouseholdCrashTransfersCredit CardTextbooksRatiosGdpEconomic Crisis Author:Frances O'Grady