Jean Chatzky Quotes

Get rid of debt now.

We need to have a goal of becoming debt-free as soon as possible.

There are no shortcuts when it comes to getting out of debt.

Families out there know that if they get in trouble and they've spent up a bunch of money and they've borrowed and they are up to hock to their necks, the thing they've got to do is start paying off what they owe and cut back their spending.

If you're trying to get out of debt, you have to be willing to treat everything as expendable.

There are but two ways of paying debt—increase of industry in raising income. increase of thrift in laying out.

I often say that paying off your debt is like dieting. There are no miracle cures; it takes discipline and hard work.

First, pay off your high-interest-rate debt. If you have student loan debt - that's low interest rate; that has a tax benefit - you can leave that out. A mortgage can be an OK one. Credit card debt is poison. That needs to be paid off right away.

Once you get into debt, it’s hell to get out. Don’t let credit card debt carry over. You can’t get ahead paying eighteen percent.

A lower interest rate doesn't make a debt go away.

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.

If you have debt, you have to worry about it. I would challenge each of you to try to be debt-free.

You want 21 percent risk free? Pay off your credit cards.

You need some quick wins in order to stay pumped enough to get out of debt completely.

Too often, we make budget cuts - then blow the savings. Instead, think about your financial picture. Do you have high-interest rate debt? Paying it off faster will save you a bundle.

If you put a purchase on a charge card, you're paying it off forever. You have to know how to pay it off before you go deeply in debt.

The answer to too much debt is not more debt; it is less debt.

A consolidation makes sense only if you can lower your overall interest rate. Many people consolidate by taking out a home equity line loan or home equity line of credit (HELOC), refinancing a mortgage, or taking out a personal loan. They then use this cheaper debt to pay off more expensive debt, most frequently credit card loans, but also auto loans, private student loans, or other debt.

Rolling all of your debts into a single loan is a good idea - in theory. In fact, it can be a great idea.

Some debts are fun when you are acquiring them, but none are fun when you set about retiring them.

Some people use one half their ingenuity to get into debt, and the other half to avoid paying it.

If you have a lot of short-term debt, it means that all of that money can be demanded in a very short period of time. Technically, short-term debt means money that's coming due within a year. Typically, it means money that's coming due within 30 to 90 days.

I have always advocated doing everything possible to pay off credit card balances; it's good financial management and the ticket to a strong FICO credit score.

It takes as much imagination to create debt as to create income.

Make this the year you tackle that credit card debt once and for all.