01.31.24 Credit Card Debt Strategy / Car Buying Update

The Clark Howard Podcast

Clark Howard

Investing, Entrepreneurship, Business

4.6 • 4.9K Ratings

🗓️ 31 January 2024

⏱️ 36 minutes

🔗️ Recording | iTunes | RSS

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Summary

Credit card debt is up 50% in the last 3 years with default rates on the rise, as higher interest rates exacerbate the problem. What would Clark do? Also today, many people have been waiting for the market to normalize before buying a vehicle. Clark shares good news and smart approaches to the purchase of both new and used cars. Credit Card Debt Strategy: Segment 1 Ask Clark: Segment 2 Car Buying Update: Segment 3 Ask Clark: Segment 4 Mentioned on the show: NYTimes.com: Lugging Credit Card Debt Into 2024? Now’s the Time to Make a Plan. Credit card delinquencies surpass pre-pandemic levels Why debt settlement companies are the wrong way to deal with high credit card debt 6 Things To Know Before Contacting the National Foundation for Credit Counseling CREDIT CARD DEBT - Clark.com What Fee Level Does Clark Consider Acceptable For a Company 401(k)? How To Open a Roth IRA What Is a Thrift Savings Plan? 2024 will be the best year to buy a new car since 2019, economist says USA TODAY: Buying a car? FTC reveals crackdown on illegal scams to save you money The new CARS Rule: What you need to know The Best Car-Buying Services in 2024 How to Buy a New Car in 5 Steps / How to Buy a Used Car in 7 Steps What Are the Pros and Cons of the Costco Car Buying Program? Avoid the #1 Mistake That Car Buyers Make Credit Card Car Rental Insurance: What You Need To Know Clark.com resources Episode transcripts Community.Clark.com Clark.com daily money newsletter Consumer Action Center Free Helpline: 636-492-5275 Learn more about your ad choices: megaphone.fm/adchoices Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0	This episode is brought to you by the Kia Power On event, featuring the award winning Kia
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0:53.8	Soul traders or limited company directors to the Clark Howard show. Our mission is to serve you with advice, guidance, and information that empowers you so you can make better financial decisions in your life.
1:15.0	You know, recently I talked about making sure you're getting the best deal on the interest rate on your savings accounts or money market
1:26.3	funds. But what if you're in the opposite situation? You don't have savings. You
1:32.2	actually owe money on credit cards. The higher interest rates are making so many people feel hopeless.
1:40.0	The default rate on credit cards, delinquency rate is up.
1:45.0	So I'm going to tell you how I would attack that.
1:49.0	Also, one item many people go into debt for is buying a car.
1:55.0	And if you've been waiting, this is going to be the best year
	...

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