Dvorkin On Debt

By: Donna Fuscaldo | Source: AARP

“Between labor and ingredient shortages, coupled with the unpredictability of transportation, it has led to rising consumer costs,” says Howard Dvorkin, chairman of Debt.com. “Food manufacturers are experiencing delays waiting for ingredients and in the end they are paying higher prices, so they are charging higher prices. It’s hard to tell if food costs will go down,” he notes. “More times than not, when costs rise they stay that way.”​

By: Yaёl Bizouati-Kennedy | Source: GOBankingRates

“I like to tell people that they should save enough money so that once they retire they don’t have to cut back their lifestyle,” said Howard Dvorkin, CPA and chairman of Debt.com. “Today, many people retire with debt that eats up their retirement income.”

By: Gary Guthrie | Source: ConsumerAffairs

ConsumerAffairs asked Howard Dvorkin, CPA and chairman of Debt.com, for the ugly truth anyone considering BNPL needs to know. “All BNPL providers are not the same. They offer very different terms, and you need to closely review the agreement,” Dvorkin said, noting that like credit cards, BNPL arrangements have varying terms on payback, interest rates, and fees. “This definitely isn’t like paper towels, where both Bounty and Brawny will wipe up a spill.”

By: Yaёl Bizouati-Kennedy | Source: Yahoo! Finance

“People hear the phrase ‘death and taxes’ and think neither can change. While death doesn’t change, taxes certainly do. Or rather, the rules governing them change all the time,” said Howard Dvorkin, CPA and chairman of Debt.com. “The most important fact to know is that deductions come in two flavors: standard and itemized. Each reduces your taxable income. Sadly, you can’t use both at the same time. You must choose.”

By: Jessica Dickler | Source: CNBC

“There’s a great deal of economic risk right now, and if you’re borrowing from your future or someone else to cover expenses, an economic slowdown could be worse for you than it has to be,” said Howard Dvorkin, CPA and chairman of Debt.com.

By: Adriana Morga | Source: The Washington Post

In more than 20 years as a financial adviser, Howard Dvorkin, chairman of Debt.com, has had plenty of couples approach him with money issues that eventually lead them to break up. “You should talk about money, lifestyle, goals and dreams,” he said. “Because (money) affects your dreams, and if you go into a relationship with debt, your dreams may be altered.”

By: Yaël Bizouati-Kennedy | Source: GOBankingRates

“Doing taxes is like renovating a house. If it goes according to plan, everyone is shocked — including the professionals hired to do the job,” said Howard Dvorkin, CPA and chairman of Debt.com. “In both cases, people can seldom predict what they’re going to find once they dig in. If someone has had any change in income — for better or worse — the only surprise would be having no surprises.”

By: John Egan | Source: Forbes

Howard Dvorkin, chairman of Debt.com, says fear is a factor for the nearly 1 in 4 Americans who admit lying to a partner about finances and the more than 1 in 5 Americans who believe lying about finances is akin to other sorts of lying or infidelity.

By: Yaёl Bizouati-Kennedy | Source: Yahoo! Finance

“In the simplest terms, the federal debt ceiling is a lot like your credit card bill. The debt ceiling is your balance — both you and the federal government have already charged a bunch of expenses. Now it’s time to pay. You write a check, but the federal government needs the House of Representatives to take formal action,” said Howard Dvorkin, Howard Dvorkin, CPA and Chairman of Debt.com.

By: Ana Staples | Source: CNBC

“Prices are up for everything,” says Howard Dvorkin, CPA and chairman of Debt.com. ”[People] are trying to make ends meet but they didn’t want to come off looking like the Grinch during Christmas… They went to the store saying, ‘Okay, I’m only going to spend $25 for a shirt for uncle George.’ And you get to the checkout, and that $25 shirt is now $40.”

By: Breck Dumas | Source: Fox Business

Debt.com chairman Howard Dvorkin recommends anyone with credit card debt should launch a plan to pay it off now, prioritizing the cards with the highest interest rate first. He also urges people to track where their money is going and look for expenses that can be cut.

By: Emma Woodward

“Rewrite your budget to include the monthly loan payments. If your debt-to-income ratio is too high with the loan, reconsider taking out a personal loan,” recommends Howard Dvorkin, CPA and Chairman of Debt.com.