#CreditChat
Wednesdays | 3 p.m. ET
How to Strategically Manage Debt
Join our #CreditChat every Wednesday at 3 p.m. ET.
This week, we discussed how to manage and pay off debt.
“ Check out all...
Featuring: Dr. Scott Rick @scottianrick
University of Michigan’s Ross School of Business
Wednesdays | 3 p.m. ET
#CreditChat
Why is it easy to fall into debt?
What kinds of debts?
Some fall into debt because of an emergency or loss of income,
but for many it’s just spending more than they earn.
Tweet ...
A lot of people fall into debt via impulse spending and
#CreditChat
not having a plan to pay off credit cards.
Tweet by @m...
Tweet by @csmithraleigh
is a bad recipe for financial progress
Instant gratification plus a lack of awareness
#CreditChat
Tweet by @scottianrick
Inability to resist temptation is intuitive response.
#CreditChat
But there are other sources: medi...
It’s easy to fall into debt without a budget because
#CreditChat
we don’t know how much we’re spending and if we’re living...
Tweet by @ACCC_Helps
A lack of education about credit and credit terms
#CreditChat
can cause serious financial problems.
#CreditChat
If you don’t establish good financial habits early on, you can fall into debt easily.
Tweet by @Quizzle
Tweet by @GarrettPlanning
“Optimism” is one of the reasons I see people fall into debt.
Tomorrow/next year I’ll have extra...
Tweet by @GraceKvantas
#CreditChat
Debt issues can occur at all income levels, not just in low income households.
Wednesdays | 3 p.m. ET
#CreditChat
What are pros/cons of using credit cards?
Why can cards lead to debt?
Tweet by @scottianrick
#CreditChat
Credit cards are less painful to use than cash, encouraging debt.
Repaying debt from fo...
#CreditChat
People need to understand their personality types before getting a credit card.
Tweet by @magnify_money
Don’t ...
Tweet by @Quizzle
Credit Cards help you establish credit. Good use can increase your score,
#CreditChat
but if you’re not ...
#CreditChat
Tweet by @MyMoneyCoach_ca
Sticking to cash is a good way to manage your money
and ensure you live within your ...
Tweet by @GarrettPlanning
#CreditChat
Credit cards are convenience tools - not for long-term financing.
Wednesdays | 3 p.m. ET
#CreditChat
How to do you choose what credit card
or loan to pay down first?
Tweet by @ReadyForZero
We think focusing on the highest interest (and therefore most costly)
#CreditChat
debt first. Stick...
Take into account both the highest interest and highest balance
Tweet by @LeslieHTayneEsq
when paying off credit cards and...
#CreditChat
Tweet by @GerriDetweiler
Pay down debt by having an overall financial game plan.
#CreditChat
Wednesdays | 3 p.m. ET
#CreditChat
What advice do you have for paying
down credit cards faster?
Target one credit card account and pay minimum on others.
When paid off, roll over that payment to new target account unti...
Tweet by @MomCentsPF
If you have a good payment track record, ask for a lower interest rate.
#CreditChat
I understand the urge to pay off individual debts,
Tweet by @scottianrick
but you’ll be better off if you can focus on deb...
Tweet by @YesIamCheap
Never pay only the minimum! Look at the payment schedule
#CreditChat
on your statements to see how l...
Wednesdays | 3 p.m. ET
#CreditChat
How can we stay motivated to
keep paying off debt?
Tweet by @MoneyCrashers
Automate credit card payments to coincide with your paycheck.
#CreditChat
Tweet by @ACCC_helps
Reach out to a reputable nonprofit credit counseling agency to get
free advice on how to best attack ...
Tweet by @Frostbe
Set goals and check them off as you achieve them.
#CreditChat
If you got in debt as a couple, work toget...
Tweet by @GerriDetweiler
Don’t be afraid to reach out for help (aka credit counseling agency).
#CreditChat
Wednesdays | 3 p.m. ET
#CreditChat
Check out all the resources and tips shared:
bit.ly/manage-debt
Join Us Every Wednesday at 3 p.m. ET.
bit.ly/join-creditchat
#CreditChat
Wednesdays | 3 p.m. ET
Subscribe & Check Out These Slides
#CreditChat
Wednesdays | 3 p.m. ET
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How to Strategically Manage (And Pay Off) Debt

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In our #CreditChat, we talked with Dr. Scott Rick from the University of Michigan's Ross School of Business and our community about ways to manage and pay down debt. You can find all the resources and tweets here:
http://www.experian.com/blogs/news/about/manage-debts/

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  1. 1. #CreditChat Wednesdays | 3 p.m. ET How to Strategically Manage Debt
  2. 2. Join our #CreditChat every Wednesday at 3 p.m. ET. This week, we discussed how to manage and pay off debt. “ Check out all video and resources shared: bit.ly/manage-debt
  3. 3. Featuring: Dr. Scott Rick @scottianrick University of Michigan’s Ross School of Business
  4. 4. Wednesdays | 3 p.m. ET #CreditChat Why is it easy to fall into debt? What kinds of debts?
  5. 5. Some fall into debt because of an emergency or loss of income, but for many it’s just spending more than they earn. Tweet by @magnify_money #CreditChat
  6. 6. A lot of people fall into debt via impulse spending and #CreditChat not having a plan to pay off credit cards. Tweet by @moneycrashers
  7. 7. Tweet by @csmithraleigh is a bad recipe for financial progress Instant gratification plus a lack of awareness #CreditChat
  8. 8. Tweet by @scottianrick Inability to resist temptation is intuitive response. #CreditChat But there are other sources: medical bills, mismanaging bills.
  9. 9. It’s easy to fall into debt without a budget because #CreditChat we don’t know how much we’re spending and if we’re living within our means Tweet by @mymoneycoach_ca
  10. 10. Tweet by @ACCC_Helps A lack of education about credit and credit terms #CreditChat can cause serious financial problems.
  11. 11. #CreditChat If you don’t establish good financial habits early on, you can fall into debt easily. Tweet by @Quizzle
  12. 12. Tweet by @GarrettPlanning “Optimism” is one of the reasons I see people fall into debt. Tomorrow/next year I’ll have extra cash. #CreditChat
  13. 13. Tweet by @GraceKvantas #CreditChat Debt issues can occur at all income levels, not just in low income households.
  14. 14. Wednesdays | 3 p.m. ET #CreditChat What are pros/cons of using credit cards? Why can cards lead to debt?
  15. 15. Tweet by @scottianrick #CreditChat Credit cards are less painful to use than cash, encouraging debt. Repaying debt from forgotten purchases is painful.
  16. 16. #CreditChat People need to understand their personality types before getting a credit card. Tweet by @magnify_money Don’t use if you are an impulsive indulger!
  17. 17. Tweet by @Quizzle Credit Cards help you establish credit. Good use can increase your score, #CreditChat but if you’re not responsible it will do the opposite.
  18. 18. #CreditChat Tweet by @MyMoneyCoach_ca Sticking to cash is a good way to manage your money and ensure you live within your means.
  19. 19. Tweet by @GarrettPlanning #CreditChat Credit cards are convenience tools - not for long-term financing.
  20. 20. Wednesdays | 3 p.m. ET #CreditChat How to do you choose what credit card or loan to pay down first?
  21. 21. Tweet by @ReadyForZero We think focusing on the highest interest (and therefore most costly) #CreditChat debt first. Stick to debt avalanche method.
  22. 22. Take into account both the highest interest and highest balance Tweet by @LeslieHTayneEsq when paying off credit cards and loans! #CreditChat
  23. 23. #CreditChat Tweet by @GerriDetweiler Pay down debt by having an overall financial game plan. #CreditChat
  24. 24. Wednesdays | 3 p.m. ET #CreditChat What advice do you have for paying down credit cards faster?
  25. 25. Target one credit card account and pay minimum on others. When paid off, roll over that payment to new target account until debt free. #CreditChat Tweet by @ReadyForZero
  26. 26. Tweet by @MomCentsPF If you have a good payment track record, ask for a lower interest rate. #CreditChat
  27. 27. I understand the urge to pay off individual debts, Tweet by @scottianrick but you’ll be better off if you can focus on debt with highest APR. #CreditChat
  28. 28. Tweet by @YesIamCheap Never pay only the minimum! Look at the payment schedule #CreditChat on your statements to see how long it will take to pay it off.
  29. 29. Wednesdays | 3 p.m. ET #CreditChat How can we stay motivated to keep paying off debt?
  30. 30. Tweet by @MoneyCrashers Automate credit card payments to coincide with your paycheck. #CreditChat
  31. 31. Tweet by @ACCC_helps Reach out to a reputable nonprofit credit counseling agency to get free advice on how to best attack your debt.
  32. 32. Tweet by @Frostbe Set goals and check them off as you achieve them. #CreditChat If you got in debt as a couple, work together to get out.
  33. 33. Tweet by @GerriDetweiler Don’t be afraid to reach out for help (aka credit counseling agency). #CreditChat
  34. 34. Wednesdays | 3 p.m. ET #CreditChat Check out all the resources and tips shared: bit.ly/manage-debt
  35. 35. Join Us Every Wednesday at 3 p.m. ET. bit.ly/join-creditchat #CreditChat Wednesdays | 3 p.m. ET
  36. 36. Subscribe & Check Out These Slides
  37. 37. #CreditChat Wednesdays | 3 p.m. ET
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