MoneyWise


Perils of Paying Later

November 7, 2018

On this MoneyWise, Steve Moore and Rob West speak about the dangers of charging now and paying later. Rob West discusses why we should be skeptical of promotions that offer this, how they add interest to those deals and how that hurts you in the long run. 

Then, they answer your questions at (800) 525-7000 and questions@moneywise.org about the following:

  • If you've been trying to get someone to take over your car lease for almost a year, with no luck, what is your best option at this point?
  • Once a credit card has a zero balance, should you close it out or keep it open?
  • If your wife is about to get a settlement from a lawsuit, how much will the IRS take from it?
  • If you're 66 and retired, have $500,000 in your 401(k) and owe about $100,000 on you home, should you pay it off from your 401(k)?
  • Is the government at fault for the high cost of college education due to the easily accessible student loans?

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