Our Terms of Use and Privacy Policy have changed. We think you'll like them better this way.

Tackling Debt: Are You a Pawn of a Get-Rich Scheme?

  • Broadcast in Family
NY Money Minute

NY Money Minute


Follow This Show

If you liked this show, you should follow NY Money Minute.

How would you feel if your family were a pawn in another’s plan to get rich?

Banks changed the tone of their advertising in the late 1990s. The subliminal message of the new slogans:
Spend beyond your means!
• “Live Richly” — said Citibank
• “What’s in your wallet?” — said Capital One
• “Is your mortgage squeezing your wallet?  Squeeze back.” — said Bank of America

• Banks have an inherent incentive to give borrowers more credit than they are able to afford.
• This results in: – Interest charges – Late payment penalties – Overdraft fees
– Missed payments — resulting in higher APR%
Consumers want to get out of debt, but they need a plan. 
Let's stop the cycle and build Americans a sound financial house.
Go to bitly.com/yourmoneyny and sign up for your copy of How Money Works, 
that's bitly.com/yourmoneyny  Also, This Thursday, August 7 is our next Money Workshop Securing Your Financial House, at the Point Cafe in Schenectady. 964 Heldeberg Ave. RSVP to dbalog99@gmail.com
See you next time.