Richard Thaler Quotes

You'll get the biggest bang for each buck by paying off the highest interest rate debt in your portfolio first, while making minimum payments on the remainder. It's called the avalanche method, and it gets you out of debt cheapest and fastest.

When you borrow money, you should always think how you're going to pay it back.

Families out there know that if they get in trouble and they've spent up a bunch of money and they've borrowed and they are up to hock to their necks, the thing they've got to do is start paying off what they owe and cut back their spending.

The only reason I made a commercial for American Express was to pay for my American Express bill.

If you put a purchase on a charge card, you're paying it off forever. You have to know how to pay it off before you go deeply in debt.

The most important loan to pay is your student loan. It's more important than your mortgage, car and credit card payments. You cannot discharge student loan debt in the majority of cases.

If you fail to pay your minimums for any debt on time, your credit score will take a major hit and you run the risk of seeing the interest rate on all of your cards go up. An easy way to remind yourself to pay, is to sign up to receive your statements via e-mail.

If the only way you can build an emergency fund is to pay the minimum due on your credit card, that is what you need to do.

I often say that paying off your debt is like dieting. There are no miracle cures; it takes discipline and hard work.

Will I be sensible and pay off the mortgage? Not a chance.

Absolutely pay off your credit card debt, because a child can always get a loan to go to school, possibly a scholarship, a grant.

A lower interest rate doesn't make a debt go away.

There are a lot of examples where people aren't getting the right information. We could do a lot more with credit card bills so people properly understand that if you pay off the minimum it could take you 41 years to pay off is that right.

A consolidation makes sense only if you can lower your overall interest rate. Many people consolidate by taking out a home equity line loan or home equity line of credit (HELOC), refinancing a mortgage, or taking out a personal loan. They then use this cheaper debt to pay off more expensive debt, most frequently credit card loans, but also auto loans, private student loans, or other debt.

A man who owes a little can clear it off in a very little time, and, if he is a prudent man, will; whereas a man, who by long negligence, owes a great deal, despairs of ever being able to pay, and therefore never looks into his accounts at all.

If you have a choice between buying something and paying down your credit card, pay down your credit card.

I urge you to live within your means. One cannot spend more than one earns and remain solvent. I promise you that you will then be happier than you would be if you were constantly worrying about how to make the next payment on nonessential debt.

What people do is they pay the small loans first. Why? Because they enjoy making the number of loans smaller. But of course it is a very ineffective way to pay debt down.

Lying rides upon debt's back.

I refuse to leave our children with a debt that they cannot repay.

Why don't somebody print the truth about our present economic situation? We spent six years of wild buying on credit - everything under the sun, whether we needed it or not - and now we are having to pay for 'em, and we are howling like a pet coon.

Each cent you apply toward diminishing your debt replenishes you.

It's a tale of redemption. It's a tale of a girl who is going on a journey, who makes mistakes as most young people do... the credit card companies love sending you credit cards so you exceed your limit and they can charge you interest. And this is a girl who overcomes her problems and figures a way out of her financial crisis, and hopefully the world will do the same thing.

Who goeth a borrowing. Goeth a sorrowing.

Some people try to deal with money by pretending it doesn't matter, but financial pressure is something that affects us all every day of our lives.