Debt Relief – Fox News Interview with Bills.com CEO/Founder, Brad Stroh

Debt Relief – Fox News Interview with Bills.com CEO/Founder, Brad Stroh


Well now is about the time that you are receiving
those credit card bills for those holiday purchases but before you panic, take a deep
breath, exhale, pop a Xanax, and then we’ll give you five things that you can do right
now to reduce your debt. Well, the start of the year is notoriously
when most people file for bankruptcy post-Christmas, reality hits hard when many can’t afford
to pay all of those bills. Candace is here now with an expert to help
us out. Yep, he is Brad Stroh, Kathleen, the CEO of
bills.com and Brad really around this time we are getting a lot of noticing, hearing
about a lot of people who are in financial strife. There is no questions, it is the worst that
we have seen in our lifetime with unemployment above ten percent with the incredible loss
of wealth in the housing and stock market, it’s worse than ever for people. So that said, like right now if we had like
five simple tips, take a pen and a paper there, five simple tips that people can do right
now today that would make a difference and to list them off really quickly, build a budget,
get support, refinance, haggle, and use cash. Let’s go over those. Build a budget, I build a budget, but I go
over it. Yeah, unfortunately it is the least fun part
of a solid financial game plan, you have got to do it even if you just do it for just one
month it’s the best way to learn how to get on solid footing, but build a budget and
stick to it. Okay. The second one is support game plan kind of
fits in with the budget but it’s, money can be stressful it is the number-one cause
of divorce, number one cause of suicide in America. Get a support group whether is a financial
counselor or a friend or a family member to help you stick to and hold you accountable
to your plan and really help you through those tough times. So if you have your friends whatever you might
call them and your group and you are hanging out, and those friends will tell you, no you
know what you don’t want to spend on that three hundred dollar meal at Mister A’s
tonight. I think that’s one thing they do, the other
is you don’t want to let them down, you guys have collectively set your goals to here
is what we are going to do over the next year together you guys can reach your goals and
it really makes you feel like you are not alone in a difficult financial situation. Refinance? So refinancing is it’s a simple one but
rates are the lowest they have been in our lifetime, you are crazy if you are fortunate
enough to be a homeowner with equity not to refinance today as low as five percent so
it Is something you ought to do tomorrow, frankly. Haggle. Yeah, so haggle is a fun one it’s sort of
non-traditional but in this economic environment you can haggle on everything like never before. Tomorrow you should wake up and call your
credit card companies and ask them to lower your interest rates. Call your cell phone provider and say you
are thinking about switching you want a better plan. You can even haggle at retail right now. Pair of jeans, cds, certainly when you are
buying a car, haggle on everything. And what difference does it make if you use
cash or a credit card? So, cash is the fun one that we say, one if
you carry cash when you run out your spending definitely stops. The second is, when you are laying down those
dollar bills you really feel it, you feel the tangible element of what you are spending
as opposed to the intangible element of swiping it on a credit card and then dealing with
the problem later. So it’s more psychological. Little psychological and practical when you
run out, you are done. Alright, Brad Stroh, President-CEO of Bills.com,
Thank you. Thank You. Good tips, Kathleen. Does Brad have any tips on staying away from
Target, because that’s where I do all my impulse spending? See my problem is Neiman Marcus not Target. You had…you had to trump me right, thanks
a lot, which one of us is a mother right? I am at Target and he is at Neiman Marcus.

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