MoneyWise


Perils of Paying Later

November 24, 2018

On the MoneyWise, Steve Moore and Rob West talk about the dangers of charging now and paying later. Rob West discusses why we should be skeptical of promotions like this. He talks about how companies add interest to those deals and how that will hurt 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 a car lease for almost a year with no luck, what is your best option?
  • Once your credit card you no longer need has a zero balance, should you close it out or keep it open?
  • How much will the IRS take from a settlement from a lawsuit?
  • If you're 66 and retired with $500,000 in your 401(k) and owe about $100,000 on your house, should you pay it off from the 401(k)?
  • Is the government is at fault for the high cost of college education due to the high availability of student loans?

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