A Response to Suze Orman's Article
959 words 4 pagesA Response to Suze Orman’s Article
In “How to Take Control of Your Credit Cards”, CNBC host and bestselling author Suze Orman provides her professional opinion on how the we can take responsibility and eliminate credit card debt. With Orman’s advice and a little discipline all debts, either by choice or circumstance, can be cleared up in as little as just a few months. To start taking control of your debts you must learn to bring your interest rates down, protect those new low rates, and possibly seek help extra help through a credit counselor.
First, she encourages everyone to try bringing their rates down “as low as possible”. Orman explains how it can be easy to negotiate a lower rate with your current card issuer if you carry at …show more content…
Tuesday and Wednesday he treated himself and his friends to Perkins for breakfast. And on Thursday, my parents started to ask questions after they had signed a package from UPS containing a brand new JVC home theater system. I was never told the exact amount of money he had spent in that short week, but I do remember my parents owning his freedom until he had paid them back, which was sometime near the end of his senior year. Orman briefly touches on the topic of young adults using credit cards. She encourages 20-somethings to “lean on their credit cards if they don’t yet make enough to always keep up with their bills.” This is the case only if you have a steady job and a good chance of advancement within the company. In a 2009 study by Sallie Mae, the nation’s No. 1 financial service company specializing in education, they found eighty-four percent of college students having at least one credit card, a dramatic increase from just eleven percent in late 2004. And even more alarming they also discovered half of college undergraduates had four or more credit cards in 2008. Growing up I was taught if you don’t have the money to buy something, you can’t buy it. This is why it scares me when I see friend’s swiping the plastic for frivolous “wants” instead of only emergency situations. When the inevitable happens and I receive my first card in the mail, I can assure you Suze Orman’s advice will always be in the back of my