11.03.22 Bonds Update / Saving LESS + Spending MORE = Bear Trap

The Clark Howard Podcast

Clark Howard

Investing, Entrepreneurship, Business

4.6 • 4.9K Ratings

🗓️ 3 November 2022

⏱️ 30 minutes

🔗️ Recording | iTunes | RSS

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Summary

I Bonds aka Inflation Bonds have reset. Recently there was a land rush on I Bonds, offering a rate over 9%. The interest earnings rate is reset every 6 months based on an inflation measurement index. Clark explains the new structure and rate, and why I Bonds remain the best place to park savings. Also - In the pandemic wake, discretionary revenge spending has resulted in shocking numbers for both how much saving is down and credit card debt is up. Clark has an at home test that acts as a truth serum to guide spending. I Bonds Update: Segment 1 Ask Clark: Segment 2 Revenge Spending Trap: Segment 3 Ask Clark: Segment 4 Mentioned on the show: 5 Things To Know About Series I Savings Bonds Pros and Cons of Unlimited PTO and Companies That Offer it HEALTHCARE.gov Homeowners Insurance Archives - Clark Howard More debt, higher fees: Credit card borrowers face mounting burdens Have you joined Clark's 'Ditch Your Debt' Facebook group yet? What Is Deferred Compensation? - Investopedia Clark.com resources Episode transcripts 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	It's my pleasure to welcome you to the Clark Howard Show.
0:08.4	Our mission is to serve you and empower you so you make better financial decisions in
0:14.0	your life.
0:15.0	In addition to this podcast, you can find more money saving advice on our websites,
0:21.3	Clark.com and ClarkDeals.com.
0:24.3	You can opt for me with ClarkDeals, so we post deals up to the minute, especially
0:29.3	timely in the Christmas shopping season.
0:32.7	Well, one of the biggest topics I've been asked about over the last year has been series
0:40.5	I savings bonds.
0:42.9	And man, they confuse people and people have some trouble from time to time buying them.
0:50.3	But I want to tell you how the rates are set has just changed.
0:55.5	Not just the rate, but how the rate will be set going forward.
0:59.2	And I want to tell you how it works and how it works for you moving forward.
1:04.3	I'm also going to talk about something that has freaked me out.
1:09.2	What Americans are saving has collapsed and not necessarily because of inflation.
1:18.5	Some people, yes, but that's not the key.
1:22.0	And this is tied right in with it.
1:25.4	Be a jump in the amount of credit card debt.
1:28.8	And then of course, I'm going to get to your questions.
1:32.0	So I want to talk to you about the I bonds.
1:35.4	I bonds became something that I have been at various phases since the 1990s obsessed with.
1:44.3	And then I'm like, no big deal.
	...

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