Credit cards are like a ‘frenemy’: Chris Hogan

MARIA: WELCOME BACK WELL, THERE IS A LOT TO BE SPOOKED ABOUT THIS HALLOWEEN, THAT'S FOR SURE

FOR SOME, THAT INCLUDES PERSONAL FINANCES ACCORDING TO A WALLET HUB SURVEY, THE BIGGEST FEAR IS AN UNPLANNED EMERGENCY COMING IN AT NORM BETTER COMING IN NT NORM BETTER COMING IN NUMNORM BETTER COMING IN NUMBERM BETTER COMING IN NUMBER TBETTER COMING IN NUMBER TWOTTER COMING IN NUMBER TWO,TER COMING IN NUMBER TWO, NR COMING IN NUMBER TWO, NOT ENOUGH RETIREMENT SAVINGS JOINING US NOW IS CHRIS HOGAN GOOD TO SEE YOU

THANK YOU FOR JOINING US WHAT'S BEHIND THE FEARS? >> THESE FEARS ARE REAL, MARIA IF YOU'VE GOT 75 MILLION AMERICANS THAT FEEL LIKE THEIR FINANCES HAVE REACHED HORROR SHOW-LIKE SITUATIONS, I MEAN, THAT'S FRIGHTENING AND FOR A LOT OF PEOPLE, THESE FEARS ARE VERY, VERY REAL AND SO WHAT I WANT PEOPLE TO DO IS TO REALLY STEP AND LOOK INTO WHAT ARE YOU DOING, WHAT ARE YOUR HABITS, WHAT'S LEADING YOU DOWN THIS PATH

CREDIT CARD DENT CREDIT CARD DEBT RANKED HIGHER THAN SNAKES PEOPLE HAD THAT KIND OF FEAR OF CREDIT CARDS I WANT PEOPLE TO GAIN CONTROL AND TAKE THE RIGHT STEPS DAGEN: CREDIT CARDS ARE MORE — SNAKES AREN'T SCARY CREDIT CARD DEBT IS SCARY

MARIA: SNAKES CAN BE SCARY DAGEN: SORRY >> YOU'RE RIGHT THE CREDIT CARD DEBT SITUATION IS VERY, VERY REAL AND PEOPLE ARE — THEY DON'T UNDERSTAND IT

YOU ALL KNOW THIS SEASON THAT WE'RE KICKING OFF WITH HALLOWEEN IS FOLLOWED BY THANKSGIVING AND CHRISTMAS THIS IS THE MOST HEAVY DEBT RELATED SEASON THAT PEOPLE FALL INTO AND IT ENDS UP TAKING THEM YEARS TO BE ABLE TO PAY IT OFF >> GOOD MORNING, CHRIS, THIS IS MORGAN MAY I SAY BY THE WAY, YOU HAVE THE BEST VOICE

IF YOU HAVE A PODCAST — MARIA: CAN'T GET ENOUGH OF — >> I LOVE IT MARIA: I LOVE HIS VOICE >> CHRIS, ONE OF THE MAJOR PROBLEMS HERE IS AS IT RELATES TO FINANCIAL EDUCATION, WHAT MORE COULD WE BE DOING TO EDUCATE PEOPLE AT A YOUNG AGE ABOUT THEIR FINANCIAL LITERACY AND FINANCIAL STATUS? >> THAT'S A GREAT QUESTION AND I THINK IT CAN START IN MULTIPLE AREAS AS PARENTS, WE CAN START TO TALK TO YOUNG PEOPLE ABOUT HOW MONEY WORKS AND REALLY THE PLAN AND HOW TO BUDGET AND SAVE FOR EMERGENCIES AND HAVE A PLAN FOR YOURSELF

BUT I THINK ALSO WITH YOUNG ADULTS, WHEN WE DON'T HAVE THIS LIFE SKILL, WE END UP FALLING TO OUR OWN DEVICES AND THEN PEOPLE THINK CREDIT CARDS ARE YOUR FRIEND BUT I TEND TO TELL PEOPLE A CREDIT CARD IS MORE LIKE A FOREIGN AOREIGN AFREIGN AFRENGN AFRENEMY YOU THINK IT'S YOUR FRIEND BUT IT'S OUT TO GET YOUR MONEY YOU NEED TO UNDERSTAND HOW THIS STUFF WORKS DAGEN: IT IS A FOCUS OF, SAY, RETAILERS, CHRIS, THAT THEY'RE TRYING TO PULL ONE OVER ON THE AMERICAN CONSUMER

I WENT TO BUY A GIANT BAG OF HALLOWEEN CANDY THE OTHER DAY AND THE THING WAS LIKE $23 AND I THOUGHT WELL, I DON'T REMEMBER GETTING CANDY THIS DELICIOUS AND EXPENSIVE WHEN I WAS A KID AND THAT IS TRUE, THEY TURNED THIS INTO A CONSUMER HOLIDAY I THINK THAT AMERICANS ARE GETTING KIND OF THE WOOL PULLED OVER THEIR EYES A LITTLE BIT WITH THIS STUFF >> I THINK YOU'RE RIGHT

AND PEOPLE NEED TO UNDERSTAND, THE GOAL OF MARKETING IS TO GET YOU TO DO THINGS WHAT I WANT YOU TO DO IS TO BE IN CONTROL OF YOUR OWN FINANCIAL SITUATION FOR EXAMPLE, DON'T GO INTO DEBT TO BUY A HALLOWEEN COSTUME THAT'S NOT SOMETHING YOU NEED TO DO KIDS LOVE DRESSING UP AND HAVING FUN

AS PARENTS, WE CAN DEVELOP A COSTUME, TAKE THEM OUT AND HAVE FUN YOU DON'T HAVE TO SPEND TO HAVE FUN AND ANY TIME YOU USE DEBT WHEN YOU SPEND, YOU'RE BRINGING A HORROR TYPE SITUATION INTO YOUR PERSONAL LIFE MARIA: IT'S GREAT ADVICE, AS ALWAYS SAVING IS CRITICAL HERE

CHRIS, THANK YOU SO MUCH