The financial collapse of 2008 got its start with predatory mortgages, that werenโt sold by community banks and credit unions, they were sold by fly by night mortgage brokers who had almost zero federal oversight and then the big banks looked over, saw the profit potential and they wanted it bad. So they jumped in and sold millions of these terrible mortgages while the bank regulators just looked the other way.
Elizabeth WarrenWomen tend to vote the economic interests of their families and to speak out on family economic issues. For men, there's often much more focus on the idea of personal failure: "If I'm not winning this great economic game, it must be my fault."
Elizabeth WarrenGet out of debt. In a world of stagnant incomes and rising core expenses like mortgage and health care costs, that's a lot easier said than done. The middle class is under enormous pressure. But families can stop the bleeding by reducing their reliance on debt wherever they can. They can also start fighting back by taking a hard look at whom they do business with and rethinking whether they want tricks-and-traps banks to hold their money. They can also demand that public officials take the side of families over the side of banks.
Elizabeth WarrenGet your money in balance. One rule of thumb is 50/30/20. Spend about 50% of your money on must-haves - things like rent, car payments - and about 30% on wants, while 20% should go toward savings and paying down debt.
Elizabeth Warren