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

4 Must Have Documents financial concerncostly insurance mistake2015 financial roadmapOne Wallet At A TimeVeterinary SchoolCommunication Skills Student Debt Crisisdon't cover cosmetic dentistryFinancial Power of AttorneydebtAmy Lacyetreduce interest ratecut monthly cellular billFinancial Awareness Video Festivalcost of capitalization calculator401KSuze Orman spouse Kathy TravisRetirement Incomehome ownershipMoney Market19 years cash flow problemhome budget after tax cost6 month waiting periodSuze is my biggest mentorpercentage men widowed 75-84buy down one credit cardhigh FICO scoreconfident of solutionface your financial fearhome loan credit score below 740 emotional stakesFundsNewtownteach your child good money habitsenjoy saving no waiting period20% down paymentkeep a scheduleGoodbyeAmericans don't use all paid vacation timeCredit scoreFinancial Cliffultimate compounding giftfinancial goal phraseis it necessary?Phyllis Shelton expert long-term careFICO Scorebad retirement planningunsubsidized Stafford loanspeak new goalorigination feesunder 18 financial giftpublic service loan forgiveness programget health insuranceSpendingwomen outlive menSelectQuote.commental healthteensdebit cardcommunity collegemortgage disclosurecredit unionritual scheduletitle insurancelet them have 50% controlemployer funding HSAmax benefit coveredFinancial Advicereal estate marketSuze Ormandangerous retirement planverify wellness screening and programsSuze Orman Scholarshipat worst still pay 75% benefitLong Term Care Insurance point cost offset by savingssocial security not going brokeprotect dependent Credit Card Rate IncreaseLTCWall StreetBankruptcycomparison shoppingdental insurance incentives for health care wellness screeningspecial saving accountdepreciating asset leave a legacywomen longer life spanno sneaking in feesfamily save at least $100 monthlymortgageroth iralousy investmenttaxesloan no longer than 36monthsRichsocial workfinancial fearsMothercreate new truthEric Dodge push yourself to save more for retirementmonthly dental insurance premiumonly offered while employed provider of financial supportgay marriage ban end Florida reduce monthly paymentrent vs buymaintain standard of livingdon't buy wantsescrowemployer offered life insurancecnbc alarm clockExhibitionlong-term care better termscalculate dependents annual income needssave AARP Social security calculatorPrime Rate Increase3 step financial road mapis it necessarylower mortgage interestgrandchild summer job IRA contributionswitch to roth 401(k)back door Roth IRAmonthly benefit HDHP's are not badcut monthly cable billbe true to yourselfsmall changes term life insuranceclosing disclosureplancredit reportdon't charge a pennyinsuranceGiftsHDHP's are good for youstandard ratemortgage brokerHow To Build CreditFinancial Systemworst financial mistakereal estate mistakesno tax on withdrawlsSuze Orman's Money Warsbuy homelong term careLTCi ASAPno life insurance financially irresponsibleCommencementstretch out haircut appointmentsStaffords this year have a fixed 6.8% interest rateInvest for savings growthTelepicturesclosing feesalternative FICO scoredangerous money seasonmarriage financial responsibilityForeclosureinterest capitalizationwomen long term care2016 adjust withholdingdoctor no longer in network2016 adjust estimated taxcommunity bankshop online guaranteed level term policydon't use allowance as bribewives should be involved in retirementmoney vowsnot enough life insuranceopen enrollment review 40% toward financial goalstudent loan repaymentinitial tax break same-sex marriageEmployer Matched ContributionAlarm Clockretirementbad decisionsFRAmake saving a pleasureterm insuranceRevocable Living TrustEasy Life Insurance protect and provide for minor child IRA contribution gifted moneyzero rate transfer dealsHSA tax savingsbe kind to yourself2015 record year car salesdon't spend don't do five year car loanUniversity of Floridarequired disclosuretelevision hostget over life insurance phobiaapproved medical 100% tax-freeoverspend on dining out20% down payment avoid feesdear suzeFinancial Solutions For YougraduationAccuQuote.comLong Term Care premiumsAARPis it true? college graduatesidelinedrising home pricespay more than minimumHolidaystudent loan repayment estimatorhigh premiumsinterest on student loanstake actionpaid vacationSchool of Social WorkCredit Card Interest Ratepresident Obamalong-term care premiumsFinancial Gift CliffUniversity of IllinoisInfluential CelebrityLong Term Care shoppingletter to suzeSandy Hook Elementary Schoolwaive home inspection biddon't defer interest paymentsautomate student loan paymentspay high rate off firstverify retirement plan with HR or plan sponsorresponsible with moneyloan necessitySave Us Moneyrefinanceone annual feeLifestyle401(k) Contributionssocial security never insolventYoung Adult savingssuccesspercentage of women widowed 75-84Final Goodbyechildren under 18overcome financial fearslower premiumdon't ignore open enrollmentHoliday Seasonthree year car loan50 over 50FICO credit score credit card mortgageFiscal Responsibilityraise insurance deductiblesame sex marriage band end Floridaborrow each year, capitalization is going to pile up women live longerCollege of Veterinary MedicineHDHP'semergency fund savingspay down car loanrequire chore in exchange for allowancebill paying prioritieslow down paymentLTC shoppingForbes Top 10multiple lenderspay interest while in schoolget credit cardconsider roth 401(k)Personal FinanceStudent DebtUrbana-Champaigncredit carddo not pay allowance for good behaviorpermanent life insuranceproperty taxhome buying budgetHDHP negotiate points with bank or sellerfinancial argumentsEmergency SavingsMortgage Credit Availability Indexdental savings planalways use all paid time offjanuary billsfocus on new truth best loan deal marriage inequalitycar buying mistakesbalance transfer save moneylife insuranceBankvalentines dayJose Rodriguezdream schooluniversal college accessMoneypreexisting condition not coveredstudent loan repayment planAdequate Auto and Home Insurancebuying car 2016ForbesSuze approvedGay Rightsfull retirement agegift not loanstudentAuto Savings Gay Couplesstore credit cardsidentity fraudMarlo Thomasmobile apppublic service career student loan repayment Retirement Savingsjuggle multiple financial goalsPrime Rate Rise 2015Suze changed my lifePay Off Debt Before Retirementphysical healthderailed planincrease retirement savingsfocus on needsno negativitylive below your meanshigh deductible health care planHeartgift grandchild IRA contributionfile asapFinancialautomatic withdraw to savings US Tax Codeoverspend on nights outLoveemergency fund death benefit needs for familyavoid burn outBeautystudent loan debtpay off debthigher insurance deductibleGracepay credit debt ASAPThe Suze Orman Showretirment savingsInfluentialsFree Debt Eliminatorbreakdown projected monthly housing costMass Mutualclosing costs 2% of loanCNBChome buying mistakesBaby Boomers8 month emergency fundteach importance of helping othersFederal Funds Ratequick closingadvice for college graduatesage appropriate choredon't blow tax refundteens and moneypowerfulprotect loved ones dental discount plancouple financesbudgetStock Investments8 Rulesbetter loan ratesOverspendingnot gender specific is it kind?loved ones dependent on incomeAshley Springermax employer matched 401(k) contributionmanage student loanslower rateiffy incomeFHA loan feespaying for collegedo you need life insurancedoctors in networkfederal student loan deferment Financial Awarenessbuying a carknow before you owebest interest ratescan you afford itcar loanswitch to spouse coveragecar leasing10 year repayment plan four steps to retirement savings no splurge raise deductiblesConventional loan PMI!00% tuition paidCivil Rightsreferrals replace permanent life insurance with termstay positiveNew american Dream Student LoanconfidentWarner Bros Television GroupInterestWashingtonincrease retirement contribution rateunexpected expensehousing marketGiftretain separate credit cardsholiday spendingloan big picture New York Lifelow credit scorewould you decline a bonusprotect your familyvalue moneyPBS Specialdeath benefit 20 to 25 times annual incomefraudulent returnretirement accountsno retirement funds for down paymentnew carignore 6 month grace period no fee transfercommitincrease emergency savingsTeachinsurance yearly reviewfinancial independenceoverspend on giftsinsurance mistakeSatisfyingtax ID theftpositivefinancing car yours, mine & ourspay down student loan debtheartachewrite new goaltraditional vs roth 401(k)Financial EducatorSandy Hook Promisegift up to 14,000Durable Power of Attorney for Health Carebig results charges on credit cardPost-Divorcebecome member grandparent IRA contribution 10% donate to charityloan is giftChanging Liveslearn good financial choicesretirement planpay 100% cash8 month safety nethome insurancepurely financial standpointHoliday Shoppingget the most out of social security summer job match income Cory BookerMoney-SavingMost Influential Celebrities Listschool

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