
Episode #499
Your Savings and Debt Card Debt Are Fighting Each Other
Why do people continue carrying credit card balances when they have the cash to pay them off? In this week's episode of Dollars & Sense, we explore why so many people continue carrying credit card balances even when they have more than enough money in savings to pay them off. Using a real-life client example, we discuss the psychology behind debt, why people are often reluctant to see their bank account balances decline, and how costly credit card interest can quietly work against long-term financial goals. While many consumers try to outsmart the credit card companies with different repayment strategies, there's one factor that often gets overlooked: compounding interest. The same force that can help grow your wealth can also erode it when debt enters the equation. Tune in to learn how shifting your perspective can help put compounding interest to work for you instead of against you. A full complement of Dollars & Sense broadcasts found here. DISCLOSURES: During Dollars & Sense with Freedman Financial, your host, Marc Freedman, may discuss specific financial planning and investment ideas. These discussions are for general information only and are not intended to provide specific advice or recommendations. Securities and advisory services are offered through LPL Financial, a Member of FINRA and SIPC . Always consult a Certified Financial Planner professional, qualified attorney, or tax advisor prior to investing to determine what is appropriate for you. Tracking #: 1156913 Dollars & Sense podcast now streaming on: Spotify iHeartRadio Apple Podcasts , previously known as iTunes Google Podcasts TuneIn + Alexa Pandora PodBean






