2.19.20 Loaning money to friends; Outrageous hospital bills; Cancer rates declining

The Clark Howard Podcast

Clark Howard

Investing, Entrepreneurship, Business

4.6 • 5.2K Ratings

🗓️ 19 February 2020

⏱️ 35 minutes

🔗️ Recording | iTunes | RSS

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Summary

Bankrate did a survey on outcomes from lending to family or friends, cosigning for them or giving them your credit card. 4 out of 10 lenders to family and friends report they didn't get paid back. Someone comes to the bank of family or friend because they can't get the money elsewhere, so that borrower is ultra-high risk. There are times we'll give out of obligation or love. Clark's 2 part rule for lending to family or friends: One time only IF you can afford it. And, look at it as a gift, not a loan. Clark's been tilting at windmills lately consulting with the hospital industry about billing problems. The industry filed suit against the government ruling to disclose prices up front. Kaiser Health News (KHN) reports on a case of hospital billing that illustrates the problem. The big problem in American healthcare is rapidly escalating hospital prices, and the industry fights so hard against price disclosure in advance. This must be fixed to get costs under control. We need to force hospitals to do the right thing. The American Cancer Society reports there's a decline in cancer death rates over one generation and over the past couple of years for specific cancers. In one generation, deaths from lung cancer, which is the deadliest form, declined precipitously. The main reason is a decline in smoking, down to 13%, clearly cause and effect. In addition, there's been great improvement in survivability of lung cancer due to early detection. Smokers are encouraged to be checked out as lung cancer is symptomless in initial stages. Colon cancer deaths are way down due to colonoscopy early detection. The fatality rate is 50% higher in men because men are less likely to see doctors. The survival rates are much higher for women due to early detection. Survival rates are much improved with both breast and prostate cancer. USA Today reports melanoma survival rates are much improved. This good news all starts with each of us getting appropriate checkups and screenings. If you can't remember the last time you saw a medical professional, maybe that's something you need to change. Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0	Great to have you here on the Clark Howard Show where it's all about you and that wall
0:10.8	of the yours.
0:11.8	I want you to learn ideas to me so you can keep more of what you make.
0:16.0	Coming up in just a few minutes, today's Clark Rage is about what you face if you end
0:22.7	up going to a hospital or a hospital emergency room.
0:27.3	How they shred your wallet and what should be done about it?
0:31.1	And coming up yet later, different angle on medical, it is amazing cancers that used
0:39.0	to be a death sentence that people are surviving, but there's something you got to be prepared
0:44.8	and aware of to make that happen for yourself.
0:50.3	So some of the most interesting people drama we ever have on our show involves when
1:02.0	someone lends money to a family member or friend, co-science for a family member or friend.
1:09.6	And in the most difficult circumstances where someone has given their credit card to
1:21.7	someone who is now an ex, girlfriend or boyfriend, and they're left picking up the pieces.
1:31.0	So Bankrate did a survey about what happens when you lend money to a family member or
1:39.1	a friend, co-signed or give them your credit card.
1:43.4	Well, if you lend money to a family member or friend, you actually give them money.
1:51.3	Do you know four out of ten people say they didn't get paid back?
1:57.9	Now remember this, somebody didn't come to the Bank of Friend or Family unless they
2:06.9	couldn't borrow money elsewhere, right?
2:10.3	So that borrower is ultra high risk.
2:13.4	There are times we will lend to a friend or family member at a sense of obligation or
2:19.3	love.
	...

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