Ep 365: Credit Cards 101: How To Get Out Of Debt

HerMoney with Jean Chatzky

Jean Chatzky Her Money

Investing, Business

4.7 • 1.5K Ratings

🗓️ 5 April 2023

⏱️ 45 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

Credit card debt is at a record high. If you’re struggling to pay down your balance, you’re not alone — and we’ve got an expert in the house to help. Personal finance reporter Jennifer Streaks joins us to share everything you need to know about credit cards, how to use them responsibly, and what you can do to pay off your debt as quickly as possible. We also discuss tips for building and maintaining great credit. In Mailbag, we answer questions about transitioning to Medicare and HSAs versus FSAs. In Thrive, easy food swaps to save money during inflation. Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0	You're listening to an AirWave Media Podcast.
0:08.0	As soon as you know that you're going to miss a payment,
0:12.0	immediately get in contact with the creditor.
0:15.0	Hopefully, if you have up until that point a great history with this creditor,
0:19.0	they will be happy to work with you.
0:21.0	It's in the creditor's best interest to work with you.
0:23.0	They want you to keep your account on track with them and they want to get paid.
0:30.0	Your life is going to change.
0:37.0	Jobs, kids, houses.
0:39.0	Are you financially ready to enjoy the ride?
0:42.0	Visit planefe.com slash Hermoney to schedule a free appointment with a financial advisor today
0:48.0	because you've got a lot to look forward to, but it's always better to be prepared.
0:53.0	Hey everybody, I'm Jean Chatsky.
0:55.0	Thanks so much for joining me today on Hermoney.
0:58.0	So I am usually the optimist in the room.
1:03.0	I'm usually not even one to be pessimistic about the economy
1:07.0	because I believe that there is pretty much always something that we can do
1:13.0	if not the economy writ large, well then at least to make our own personal economies better,
1:20.0	even if the markets are throwing us for a loop.
1:23.0	But I got to say I am worried right now, not because of the Dow,
1:28.0	not because of inflation, but because of credit card debt.
1:33.0	The latest data that we have from the New York Fed from the end of 2022
	...

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