Be Well: What to Know About Managing Credit Card Debt
Leslie Tayne, a financial attorney, joined Cheddar News with some advice for viewers on managing credit card debt, noting that one of the first steps people can take in protecting their finances is to not open too many credit cards. "If you end up with 10 or 15 different credit cards and the balances go up, any savings that you might have had with the discount to get the card is eliminated if you don't pay it off at the end of the month," she said.
With the Fed likely set to leave rates unchanged, lower and middle income Americans will continue dealing with higher credit card interest and expenses.
Markets soared in May after Nvidia’s Q1 success, but concerns over slowing consumer spending, especially among middle—and lower-income groups, loom large.
