Beret (Bourree) Lam

speaker

435 appearances 6 recordings 1 series first heard Apr 2020 last heard Jan 2024

Beret (Bourree) Lam’s voice in public audio — every appearance, attributed to the second.

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WSJ Your Money Briefing · The Importance of Interest Rates in Paying Down Your Debt · 14 Jan 2024 podcast

So like credit card is the classic example.

In recent years, as the cost of college has really gone up and as the cost of housing has really gone up, despite low interest rates, people are really starting to realize that too much of a good thing can be a bad thing.

You know, I was riding at the subway the other day and there was this ad saying,

And it wasn't selling anything.

It was just trying to educate people like a nonprofit, trying to educate people on student debt.

And it was like, yeah, too much student debt could be a bad thing.

And traditionally, student debt is a low interest debt.

You can apply for forgiveness.

There are plans.

There are many options for how you pay it back.

So it's been always seen as a good debt.

But too much of a good thing really can be a bad thing.

It can be mentally stressful.

It can be really stressful on your monthly budget.

And then for housing debt,

A lot of people took out really big mortgages when interest rates were low to be competitive in the market for houses.

We know that the U.S.

is at a historic low of entry-level housing.

So for people who are just first-time homebuyers entering the market, they've had to put up these very high bids in order to get anything.

And you really have to be careful of how much of your monthly budget is going to this debt because if you have a change in your financial situation, you could go under really quickly if you're too leveraged.

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