A Quote by Suze Orman

Those carrying a credit card balance should scale back to making the minimum payment each month so they have more money to put into savings.

Suze Orman

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Back Balance Card Carrying Credit Credit Card Each Each Month Making Minimum Money Month More More Money Payment Put Savings Scale Should Those

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Suze Orman
American - Author
Born: June 5, 1951

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

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

You fall a bit behind on a credit card bill, your interest rate soars, your minimum payment rises, and you start falling more and more behind every month. You don't see an end. But you don't want to file bankruptcy either. What you can do - and should do - is negotiate.

Jean Chatzky

If rather than setting the minimum balance as the lowest possible amount, so we keep people in debt for as long as possible, we raise the minimum payment and encourage people to pay off their credit cards, we're going to make less money, but we're going to have costumers that are more solvent.

Richard Thaler

If you wait to see how much money you have left at the end of the month to put toward savings, the answer may be zero. So, set up an automated monthly transfer from your checking to savings account. Once you lock into that commitment, you'll be forced to scale back spending to make ends meet.

Suze Orman

When I was young, people lived paycheck to paycheck. Today, it seems like they live from credit card payment to credit card payment.

Robert Kiyosaki

When I was young, people lived from paycheck to paycheck. Today, it seems like they live from credit card payment to credit card payment.

Robert Kiyosaki

Money you know you need or want to spend in the next few years is savings. Money you keep handy for an emergency belongs in savings. Money you hope to use soon for a down payment on a house belongs in savings. And all savings belong in a low-risk bank savings account or money market account.

Suze Orman

When I was young I would spend more money than I should with my credit card but my father cut it off, so I had to find creative ways of making money.

Carmen Busquets

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

With money we really fool ourselves. We are our biggest enemies with money and there are some things we can do about it. Automatic deductions are a wonderful thing. But ideally, you should wait until the end of the month, you can see how much extra money you had, and you should put that in your savings account. We don't do that too well, and if we did that, we would never save. So, what we do, is we take money out of our pocket into the saving account at the beginning of the month, take it outside of our control and as a consequence, we spend less and we save more.

Dan Ariely

You know what higher interest rates mean. To you it means a higher mortgage payment, a higher car payment, a higher credit card payment. To our economy, it means business people will not borrow as much money, invest as much money, create as many new jobs, create as much wealth, raise as many raises.

William J. Clinton

I'm the worst customer for a credit card company because I always pay my balance off every month.

Katie Melua

When economists speak of money, they neglect that all money and credit is debt. That is the essence of bookkeeping and accounting. There are always two sides to the balance sheet. And one party’s money or savings is another party

Michael Hudson

If you pay your credit card off every month, get a rewards card. One that gives you airline miles or that will give you 1 percent cash back at least on every purchase.

Aaron Patzer

I believe that what works for the consumer is to be able to determine what they can pay -- even if it is nothing. (Just joking.) Unfortunately, so many depend on credit for living expenses, and the lower payments helped them in the immediate term. I am OK with that. For those who want their minimum to be more, you don't have to wait on your credit issuer to increase the payment -- do it on your own. For others, at this time, I think it's a horrible idea.

Trina

A Quote by Suze Orman

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