Tips for handling your credit card debt

  • 7 months ago
Ellevest CEO Sallie Krawcheck joins TheStreet to share her tips on how to manage your credit card debt.
Transcript
00:00 First of all, for credit card debt, if you can, if you can, if you can't afford it without putting it on the credit card, then you can't afford it.
00:09 And I know there are extenuating circumstances and times when you have to go into debt, but as a rule, if you're buying something on credit, you can't afford it.
00:18 Secondly, if you're already in credit card debt, you've got to just do the best you can.
00:23 You actually want to pay down that credit card debt, given that it is, the rates are record high, before you start investing, even before you, you know, maybe building an emergency fund.
00:33 And just chip away at that thing, because the high interest rates can really be such a drag on wealth creation and your lifestyle.
00:40 [BLANK_AUDIO]

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