• Home
  • News
    • Politics & Government
    • Business & Economy
    • Crime / Courts
    • Health / Medicine
  • Sports
    • High School Sports
    • Radio Iowa Poll
  • Affiliates
    • Affiliate Support Page
  • Contact Us
    • Reporters

Radio Iowa

Iowa's Radio News Network

You are here: Home / Business / ISU professor says understanding limits key to managing credit cards

ISU professor says understanding limits key to managing credit cards

June 1, 2010 By Matt Kelley

Tahira Hira ringing  Wall Street bell.

Tahira Hira ringing Wall Street bell.

The recession and tight job market has spurred a lot of Iowans to tighten their financial belts and trim personal debt. An Iowa State University professor of personal finance and consumer economics says the key to managing credit cards is understanding your limits.

Tahira Hira says you shouldn’t borrow money to consume. “You don’t artificially start to live a life which is not really your life…meaning, which you can not afford,” Hira said. Hira says credit cards can be very valuable in emergencies and for greater ease in transactions, but each card should be paid off, in full, every month.

“The credit card does not generate extra or new money for you,” Hira said. “You only use (the card) to spend the money you have, so when the bill comes, you can pay that.” Hira recently helped launch a new online resource for people to improve their money-management skills. The project is called Money Sense.

On April 26, Hira rang the opening bell at the New York Stock Exchange. A recent poll conducted by the Associated Press found nearly half of those surveyed say they’re suffering from debt-related stress.

Hira says new government legislation to regulate credit card issuers should help people lessen their debt, but consumers need to take responsibility for themselves.

Share this:

  • Facebook
  • Twitter

Filed Under: Business Tagged With: Iowa State University

Featured Stories

Congresswoman Axne favors Biden pandemic relief plan, Hinson not ruling out a ‘yes’

DOT plow crews struggling against blizzard conditions

Death penalty proposed for specific child murder cases

Iowa delegation breaks along party lines on Trump impeachment vote

Two northeast Iowa men admit to illegally harvesting ginseng

TwitterFacebook
Tweets by RadioIowa

UNI adds two nonconference games to basketball schedule

Iowa State-Kansas postponed

Iowa-Michigan State postponed

Fire damage to Riverfront Stadium electrical system will cost Waterloo thousands

Iowa State at Kansas State postponed

More Sports

eNews and Updates

Enter your email address:

Delivered by FeedBurner

Archives

Copyright © 2021 ยท Learfield News & Ag, LLC