Rebecca Walser
speaker
151 appearances
2 recordings
1 series
first heard Jan 2018
last heard May 2018
Rebecca Walser’s voice in public audio — every appearance, attributed to the second.
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Appearances
The minimum credit card payment is designed, and they actually had to change the law around this.
I don't know if you remember a few years back, they actually had to change the law to disclose the
On the actual statement, if people only made their minimum credit card payment monthly, how many years it would literally take them to actually pay off that balance.
And of course, the credit card company is counting on that you pay the minimum.
You have a little bit of credit available.
You use that credit.
You pay the minimum again.
And it's a vicious cycle that you're never intended to get out of.
So the minimum payment is not designed ever to really get you out of that debt.
So the minimum payment will take years and years to actually come to fruition and pay off.
We cannot go off of a minimum payment.
We have to create a budget.
We have to see how much discretionary funds can be moved over to getting rid of this debt as fast as possible, especially the high interest rate debt.
You know, this is so true.
I write about this in my book, and I know we're going to talk about it.
But basically, we have a savings gap in this country.
We are addicted to instant gratification.
And credit card usage and spending, and the spending over this holiday season just proves it.
It's our spending outpaces our savings.
And if you even look at most financial advisors, they're telling people, you know, we've got to save at least 10%.
Showing 81–100 of 151 · page 5 of 8
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