Suze Orman TwitterSuze Orman FacebookSuze Orman YouTubeSuze Orman LinkedIn
View Blog & News List

Suze Orman: Don’t put your retirement on a credit card

August 07, 2013 at 10:27 PM

As the economy slowly recovers, Americans are struggling to get out of credit card debt they amassed during tougher financial days.

The good news: the majority of people are paying their credit card bills on time. Recent data from the American Bankers Association shows that less than 2.5 percent of credit card accounts were 30 days late in the first quarter of 2013.

The bad news: they're amassing more debt. Outstanding credit card balances in the U.S. rose to $856 billion according to a study by the Federal Reserve Board.

Out of desperation to stay current, or to rid themselves of their debt, people are looking at their retirement accounts as a cash source. But Suze Orman says that's the biggest mistake you could make.


Read Full Article

Suze Orman: Don’t put your retirement on a credit card

Tag Cloud

financial fearskids schedule paymentsCredit Card Interest Ratestudent loan repayment estimatorpowerfulAmericans don't use all paid vacation timefocus on needsBaby Boomersapproved medical 100% tax-freeCNBClet them have 50% controlunsubsidized Stafford loanMost Influential Celebrities ListHDHP's are good for youFinancial Awarenessletter to suzeincrease emergency savingsdon't buy wantshome budget after tax costcut monthly cable billbudgetsmall changes Post-Divorcegift not loanExhibitionPhyllis Shelton expert long-term care20% down paymentkid borrow firsthome buying budgetdon't charge a pennyFinancial Awareness Video Festival3 savings buckets US Tax Codeincrease retirement savingsGiftsmental healthPrime Rate Increaseno fee transferwomen outlive menAARP Social security calculatorCivil Rightsthree year car loanstay positivedoctor no longer in networkswitch to roth 401(k)not gender specific anticipated salaryemployer funding HSAfinancing car 10 year repayment plan planphysical healthreal estate marketMortgage Credit Availability Indexprotect and provide for minor child women long term careshop online guaranteed level term policyoverspend on dining outsame-sex marriagetitle insuranceis it necessary?wives should be involved in retirementSuze Orman spouse Kathy TravisWall StreetsuccessInfluentialswould you decline a bonusget over life insurance phobiaLong Term Care premiumsget the most out of social security don't ignore open enrollmentfamily save at least $100 monthlybill paying prioritiesteach your child good money habitsmax benefit coveredhome insurancepay credit debt ASAPlong-term care premiumscnbc alarm clockTeachMass MutualWashingtonno waiting periodcar leasingFinancial Power of AttorneyForbesholiday spendingCommunication Skills incentives for health care wellness screeningfederal student loan deferment 2015 record year car salesavoid burn outRetirement IncomeSandy Hook Elementary Schoolmanage student loansdebtchildren under 18only offered while employed Bankruptcymortgage interest tax deductionno private loancommitCredit Card Rate Increasestretch out haircut appointmentsoverspend on giftsMoneyloan necessityiffy incomeSatisfyingmortgage disclosureinsurance mistakeconfidentChanging Livesinterest on student loansmarriage inequalitycredit managementbig results don't derail retirement savingsultimate compounding giftSuze Orman's Money WarsGay Rightsorigination feesvalentines dayloved ones dependent on incomedental savings planHolidaybest loan deal retirment savingsFinal Goodbyeignore 6 month grace period Financial Gift Cliffhousing marketsocial security never insolventSuze Orman ScholarshipVeterinary Schoolzero rate transfer dealsInfluential CelebritysavingsCredit scorealways use all paid time offautomate student loan paymentsdon't do five year car loangraduationRetirement Savingsrequired disclosurereal estate mistakesalternative FICO scoreback door Roth IRAcomparison shoppingpay down student loan debtfocus on new truth lower ratesocial workinsuranceis it kind?term insuranceWarner Bros Television Groupderailed planno negativityfinancial concernFiscal ResponsibilityMoney-Savingjuggle multiple financial goalsLTC shoppingescrowdepreciating asset secured cardCory Bookerstandard deduction Durable Power of Attorney for Health CareThe Suze Orman Showsavings pleasurepay 100% cashMotherbuying a carbalance transfer rising home pricespositiveAmy Lacyetpercentage men widowed 75-84Telepicturesbad retirement planningmake saving a pleasurePrime Rate Rise 2015quick closingbuy home you can affordschool low down paymentcalculate dependents annual income needsHDHP's are not badmoney vows3 step financial road mapspecial saving accountclosing costs 2% of loanis it necessaryStaffords this year have a fixed 6.8% interest rateemergency fund savingslife insuranceFederal Funds RateSuze approvedLTCi ASAPfinancial independenceHDHP's10% donate to charityget credit cardmaintain standard of living4 Must Have Documents financial argumentsFinancial Solutions For Yourefinanceprotect dependent Financialtake actionhome ownershipjanuary billsincrease retirement contribution rateterm life insuranceheartacheinterest capitalizationGay Couplesgay marriage ban end Florida 19 years cash flow problembe kind to yourselfmarriage financial responsibilityconsider roth 401(k)point cost offset by savingscut monthly cellular billoverspend on nights out2015 financial roadmapsame sex marriage band end FloridaUniversity of Floridaraise deductibleshigher insurance deductibleAshley Springerface your financial feardon't spend college graduateverify retirement plan with HR or plan sponsorbad decisionsdoctors in networkenjoy saving women live longerpresident ObamaLong Term Care shoppingmultiple lendersCollege of Veterinary Medicineretirement planborrow each year, capitalization is going to pile up Conventional loan PMIreduce monthly paymentkeep a schedulegift grandchild IRA contributionyours, mine & ourssummer job match income know before you oweclosing feesInterestsidelinedloan big picture write new goalhome buying mistakesForeclosuredebit cardFinancial Advicedon't use allowance as bribecar buying mistakesdeath benefit needs for familyNew York LifeStock Investmentscouple financesdon't defer interest paymentsstudent loan debtAARPMarlo Thomasteach importance of helping othersemergency fund better termsYoung Adult Financial Systemone annual feeForbes Top 10replace permanent life insurance with termautomatic withdraw to savings Financial Educatortelevision hostdear suzeteenscharges on credit cardcreate new truthLoveOne Wallet At A TimePersonal Financeno retirement funds for down paymentautomatic paymentStudent Loanopen enrollment review require chore in exchange for allowanceage appropriate goalsEric Dodge allowance taskdeath benefit 20 to 25 times annual incomepermanent life insuranceone credit cardpreexisting condition not coveredpurely financial standpointno tax on withdrawlsnegotiate points with bank or sellerunexpected expenseSandy Hook Promisegrandchild summer job IRA contribution8 Rulesis it true? emotional stakesunder 18 financial giftretirementbe good examplefraudulent returnpublic service loan forgiveness programswitch to spouse coveragelower premiumno life insurance financially irresponsiblePay Off Debt Before Retirementlearn good financial choices6 month waiting periodSuze changed my lifeidentity fraudprotect your familyHoliday Seasonsave moneydon't blow tax refundreduce interest ratecredit reportStudent DebtLifestyleSuze is my biggest mentorretain separate credit cardsnot enough life insurance!00% tuition paidGiftGracelower mortgage interestcredit unionIRA contribution gifted moneycost of capitalization calculatorHSA tax savingsadvice for college graduatesbreakdown projected monthly housing costUrbana-Champaigndental insurance new caremployer offered life insurancelow credit scorepercentage of women widowed 75-84School of Social WorkEmployer Matched Contributioncar loanAccuQuote.com2016 adjust withholdingmonthly dental insurance premiumverify wellness screening and programstraditional vs roth 401(k)PBS SpecialNew american Dream student loan repayment planlousy investmentSelectQuote.comhigh premiumsmonthly benefit better loan ratescommunity collegeclosing disclosureRichHow To Build Creditprotect loved ones four steps to retirement savings file asapdangerous money seasonEasy Life Insurance teens and moneyroth iraFICO Scorepush yourself to save more for retirement50 over 50Newtownmortgage brokersocial security not going broke401Kbe true to yourselfitemized deductionFRAworst financial mistakewomen longer life spanconfident of solutionHDHP Save Us MoneyLong Term Care Insurance student loan repaymentwaive home inspection bidmortgageCommencementHeartcredit cardAuto Savings property taxBanklive below your meansrent vs buypaying for collegebest interest ratesdo you need life insuranceJose Rodriguezbuy homeprovider of financial support40% toward financial goalcan you afford itmobile appbuy down no splurge dream schoolOverspendingpay more than minimumhigh deductible health care planadd teenhome related tax break bonus Spendingloan is giftEmergency Savingshigh FICO scoreFinancial CliffFHA loan feesAlarm Clocktaxesspeak new goalcommunity bankgrandparent IRA contribution 2016 adjust estimated taxgift up to 14,000long-term care buying car 2016overcome financial fearsstudentpay down car loanInvest for savings growthMoney Marketpaid vacationat worst still pay 75% benefitage appropriate chorelong term caredo not pay allowance for good behaviorreferrals Free Debt Eliminatorvalue moneySuze Ormanget health insuranceresponsible with moneyretirement accountsinitial tax break Beautydental discount planHoliday ShoppingFICO credit score credit card mortgagefull retirement agepublic service career student loan repayment pay off debtStudent Debt Crisis8 month emergency fund8 month safety netno sneaking in feesuniversal college accesscompare monthly expensesborrowing plan financial goal phrasecostly insurance mistakeinsurance yearly reviewhome loan credit score below 740 don't cover cosmetic dentistryFundsritual scheduleraise insurance deductiblemeet monthly LTCsave standard rateUniversity of Illinoismax employer matched 401(k) contributionbecome member pay interest while in schoolpay high rate off firstco-sign Goodbyeloan no longer than 36monthsdangerous retirement planstore credit cards401(k) Contributionstax ID theftleave a legacy20% down payment avoid feesAdequate Auto and Home InsuranceRevocable Living Trust

View Blog & News List
People First. Then Money. Then Things.
Connect with me on Facebook Connect with me on YouTube Connect with me on Twitter
© 2016 Suze Orman Media Inc. All rights reserved.
 |  Search  |  Sitemap  |  Privacy  |  Terms
Sign Up For E-mail Offers
Open Panel
Close Panel