How to deal with debt | Life Kit
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Credit card debt is on the rise in America, and in this episode, we explore strategies for tackling it, for navigating emotional conversations about it, and managing your finances while you're paying it down. NPR's Global Economics Correspondent Stacey Vanek Smith joins us with tips on how to negotiate lower interest rates and learning to say no to things.
Correction: 1:55 A previous version of this video contained a confusing mention of credit card interest rates. The average credit card interest rate in the U.S. is currently around 20 percent. And that’s an annual rate, not a monthly one.
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VIDEO CHAPTERS
00:00 - Intro
00:46 - The biggest misconception about debt
01:25 - How to start paying debt down
02:26 - Negotiate a lower interest rate
04:47 - Saving while in debt
05:55 - Spending less
06:46 - Cash stuffing
09:46 - Role play scenarios
16:11 - Pick a word
17:29 - Recap
Пікірлер: 4
When people talk about money, they are almost always talking about something else. 👏🏽
@Maiacs
Жыл бұрын
This was my favorite quote!!!!!
Please forward this to the Congress. Apparently, they have no clue about money.
We definitely had the contribute towards work baby shower gifts at a few places. However the designated person would get a gift card the night before with whatever they collected...so if you could only afford $5 or $10, with enough folks it was still a decent gift. Then...3 gals were expecting at the same time! Boy was I glad I'd set a $10 limit for myself and could chip in $30! I'd have been tempted if in the past I'd put in $25 for a single shower to try to have $75 for this situation. Great tips! And while debt can be a factor, sometimes a person is saving up for something or it's not a cause they want to support (ahem $50 for Timmy's kindergarten graduation). So having your prepared response to keep it vague "that's not something I can give to right now", or "my limit for (scenario) is set so I can be fair to everyone " doesn't disclose the reason but does set boundaries.