A Quote by Suze Orman

If the only way you can build an emergency fund is to pay the minimum due on your credit card, that is what you need to do.

Suze Orman

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Suze Orman
American - Author
Born: June 5, 1951

If you do not have at least an eight-month emergency fund, and you think there's a probability you could loose your job - and it's not just losing your job; you could be in a car accident, get sick - continue to pay the minimum on your credit card every month. Everything beyond that needs to go to establish an emergency fund. And if you have an emergency fund saved, then fund your retirement account before paying down credit card debt.

Suze Orman

But credit card debt is unsecured debt, which means if you get in trouble and cannot pay off your credit card, you can discharge it in bankruptcy. What are they going do to you? If you're in a financial position to just methodically pay off both credit card and student loans, pay them all.

Suze Orman

I get so frustrated when people tell me it's unrealistic to create an eight-month emergency savings fund, or have money saved for a home down payment, or pay off their $5,000 credit card balance.

Suze Orman

Absolutely pay off credit card debt. If you're not getting a match in your 401(k) and you've got credit card debt, you've got to get yourself out of credit card debt. When you get out of credit card debt, your credit score goes up and interest starts to go down.

Suze Orman

Your goal should be to pay off your credit card bills in full at the end of each month and set aside money toward your emergency savings.

Suze Orman

If you have credit card debt and credit card companies continue to close down the cards, what are you going to do? What are you going to do if they raise your interest rates to 32 percent? That's five times higher than what your kid is going to pay in interest on a student loan. Get rid of your credit card debt.

Suze Orman

I like it when you buy something and pay with a credit card, they put your credit card on the receipt, but only the last four numbers. Aha! I'm really good at guessing twelve numbers. I can't guess 16 numbers, so thanks for the assistance!

Mitch Hedberg

If you are worried about job security and do not have an adequate emergency fund (ideally eight months' worth of living expenses stashed away in a federally insured bank or credit union), you need to focus more on saving money than paying down the balance on your credit cards.

Suze Orman

If you have a choice between buying something and paying down your credit card, pay down your credit card.

Elizabeth Warren

You don't build wealth with credit card rewards and airline miles. You can't beat the credit card companies at their own game.

Dave Ramsey

If you have loans, the first thing you want to do is say, "Okay, look I have a credit card, if I really need to borrow, I have this emergency money that I can get, but for now there is no reason for me to keep cash at zero percent interest rate and at the same time, pay all of this money out. So, I think people need to figure out quickly how to pay loans and how much cash they should really keep.

Dan Ariely

If you decide you need a secured card, use it to charge small items every month, then pay the balance off in full. If your credit score improves, and the bank doesn't offer to upgrade your card within 12 to 18 months, give them a call. If they refuse, try another lender.

Jean Chatzky

If you're in poverty and all you have is a debit card or a prepaid card or you pay in cash, it does not report to a credit bureau. If it doesn't report to a credit bureau, it cannot create a credit score for yourself.

Suze Orman

If you have to pay about forty to forty-three percent of your income for housing, you also have to pay fifteen percent of your paycheck for the FICA for Social Security wage withholding. You have to pay medical care, you have to pay the banks for your credit card debt, student loans. Then you only have about twenty-five or thirty-five percent, maybe one-third of your salary to buy goods and services. That's all.

Michael Hudson

We cannot put Connecticut's future on the credit card. The state has had a problem putting costs on Connecticut's credit card that it simply can't afford to pay.

Ned Lamont

he card companies will often, as a courtesy, honor that credit card, but hit you with a penalty. And you keep swiping your card for $3 at Starbucks for your latté, and you're getting hit with a $25 penalty because it's over your credit limit.

Richard Thaler

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