Senator Elizabeth Warren

When we talk about the stress on American families, do you know one of the

biggest expenses that's out there, we don't count.

And that is, how much are you spending on credit cards?

How much are you paying on debt on student loans?

How much are you paying?

All your debt, it's actually left out of the calculation.

That's nuts.

And the difference between carrying, as you know, $5,000 of debt at

5% and $5,000 of debt at 36% is the difference between whether you got a shot at paying it down and whether or not you're just overwhelmed and you're going to be in debt for as far into the future as you can see.

And it should be.

I love, love, love this.

And I actually want to make a point here that a lot of folks don't always link right on to.

Paying down debt when you have credit card debt, I'm talking about short-term debt like that, paying down that credit card debt and savings really are kind of like two ends of the teeter-totter, depending on where you have to start this.

When you're paying down debt, you are putting yourself in a much stronger financial position.

And whatever you've managed that you can take out of your daily spending so that you can pay down that debt,

Yes, I give exactly the same advice.

Roll straight in to investing it.

Roll straight in to savings it.

Now, I'm also very big on consumer protection and savings.

I very much believe in democratizing investment.