Fritz Elmendorf Quotes on People (3 Quotes)

Bank loans have pretty attractive interest rates these days. Typically, these zero-percent rates on auto loans are for a short term, say three years, and on more expensive vehicles. People end up buying the car, but use a bank loan to do so. Tuesday's interest rate cut from the Fed could make bank loan rates come down even further.

A lot of people get a home equity loan and do it on their own, short of going to a credit counseling agency. You can consolidate your credit card debt and have a lower monthly payment that will maybe get you through a squeeze.

People have to think realistically, and I think the economy is pretty sobering right now, and people should consider their financial moves very soberly. Part of that is getting in less debt.