Tadeo Ruiz Sandoval

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291 appearances 3 recordings 1 series first heard Aug 2024 last heard Aug 2024

Tadeo Ruiz Sandoval’s voice in public audio — every appearance, attributed to the second.

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And these monthly payments are a drop in the bucket for how much money I'll have to pay to settle this loan.

So when other people are deciding on the loan they're going to take, what should they think about?

I spoke with Bruce McCleary, a spokesman for the National Foundation for Credit Counseling, or NFCC.

They counsel people with personalized plans to tackle debt.

Bruce says people should take the time to understand the loan options they have available.

These programs allow people to make said purchases and pay them off in monthly installments.

Plus, what makes some of these lenders appealing is they offer little to no impact on your credit score.

But Bruce advises caution because these kind of programs too often could lead to juggling multiple monthly payments at the same time.

When Mackenzie Somerville talked about her auto loan, she said her $17 an hour job would have been just enough to cover the payments.

Bruce says people should always prepare for the worst when taking on debt.

For Mackenzie, her worst case scenario was losing her job.

And there was no backup plan.

Ashley Agnew is the president of the Financial Therapy Association.

The group connects therapists with patients to help work through their financial decisions.

That's why she says it's important to take a moment and consider the financial choices you want to make.

To do this, she says it's helpful to talk things through with a financial professional or an accountability partner.

And Gen Zers are finding ways to keep each other accountable online.

More on how Gen Z has found a support system on social media after the break.

Infliction is killing me.

But who cares?

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