Financials: Take Charge of Your Credit in 2017

Industry Focus

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4.6 • 854 Ratings

🗓️ 30 January 2017

⏱️ 31 minutes

🔗️ Recording | iTunes | RSS

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Summary

Use these tips to get out of debt and make the most of your credit.

Transcript

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0:00.0	Hello everyone welcome to Industry Focus the podcast that dives into a different
0:05.9	sector of the stock market every day. You're listening to the Financials Edition
0:09.4	recorded today on Monday January 30 30th, 2017.
0:13.4	My name is Gabby Lapera, and joining me on Skype
0:16.1	is Dan Kapplinger, personal finance guru
0:18.6	extraordinaire at the Motley Fool.
0:20.6	Hey Dan, how's it going?
0:22.0	I'm good, Gabby.
0:23.0	How are you doing today?
0:24.0	I am good.
0:26.0	I'm trying to keep up beat because today's topic is very depressing.
0:30.0	Today we're going to talk about debt and credit and just so you know debt
0:36.2	plagues Americans I think that we were talking about this earlier Dan so I know
0:39.7	you know but our listeners may not so I'm going to throw out a few statistics here.
0:45.0	About 15% of Americans think that they're going to die in debt.
0:50.0	About 60% of Americans couldn't cover an unexpected expense of $500.
0:56.0	34% have $0 in savings and another 35% have $1,000 or less, but more than $0.
1:04.4	And the average amount of student loan debt
1:07.0	is somewhere between $31,000 and $37,000,
1:10.0	depending on your source.
1:12.0	The average amount of mortgage debt is about $170,000, which I guess
1:16.8	isn't that much if you think about houses. But today, we're going to talk about credit
	...

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