Cheryl Winokur Munk

speaker

643 appearances 14 recordings 1 series first heard Mar 2018 last heard Nov 2024

Cheryl Winokur Munk’s voice in public audio — every appearance, attributed to the second.

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WSJ Your Money Briefing · Which Debt Is Actually Good to Hold Onto? · 3 Jan 2023 podcast

So the more you're basically piling on more and more and more. matched

So you have to be selective about the debt you pay off. matched

You want to pay off higher debt first, if possible, because that really is going to add up over time and it can really do a number on your financial wellness. matched

I mean, the best thing to do is not really carry a balance. matched

I mean, don't buy more than you can afford, right? matched

So if you can't afford that extra special item, then really don't buy it. matched

That's very simple advice, or it sounds simplistic, and these are for the wants, of course. matched

But for the needs, obviously you need certain things. matched

You need food, you need clothing, you need shelter. matched

But you can, even within those categories, you can still be prudent about your spending. matched

So, for example, maybe there's a way to lower some of your bills if you need electricity, but maybe you don't need to leave lights on quite so long and you need to spend money on gas because you have to get to where you want to go. matched

But maybe you could lessen your trips out to the grocery store, for example. matched

You need food, but you can clip coupons. matched

You don't have to buy the most extravagant food. matched

You can buy something that's less expensive. matched

So there are ways even within the need category to handle your budget. matched

Thanks for having me. matched

WSJ Your Money Briefing · Why Personal Bankruptcy Is a Last Resort to Getting Rid of Debt · 30 Dec 2022 podcast

So even with interest rates rising, they're still relatively low by historical standard in many cases.

So if you think about this and the idea that people are living much longer these days and healthier too...

holding on to the right kind of debt can be a solid financial move.

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