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Beverly Harzog

Beverly Harzog is a consumer finance analyst and credit card expert at U.S. News and author of The Debt Escape Plan, she paid off $20,000 of debt in only 2 years and now inspires others to do the same.

Welcome!

[2:8] First off can you tell us a bit about your debt payoff journey? What motivated you to tackle all that debt and what was the debt from?
●            When Beverly was young she knew nothing about personal finance, she was a CPA
●            Getting out of College, she got a ton of offers for credit cards
●            She spent a ton of money on her image (she was self-conscious)
●            She took things seriously and really cut back to get rid of her debt

[4:38] Debt, debt, debt! We’ve seen a whole bunch of rate hikes this year, debt’s like one of those things that you should be using responsibly. When do you think it’s a good time (if any) to go into debt and what are some things to look out for?
●            There is good debt and bad debt,
●            Good debt is something like debt on a home
●            Bad debt is credit card debt 

[8:45] It it’s always easy, some people have bad credit. What advice do you have for people with bad credit and do you have any good resources they can use?
●            Don’t feel terrible
●            Get a secured credit card; US News is a great resource
●            Some credit card have fees
●            If you are against a credit card, you could try get a credit builder loan.

[10:40] You wrote a post about whether you should get a credit card or a loan, do you want to give us your view of when you’d want to choose either option?
●            People often reach for their credit card if they have big purchases
●            If something is much more long term, then you might want to look at a loan
●            Get a 0% intro APR on purchases if you have good credit
●            You should always be careful of taking out any debt, get online and do research about the companies

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