The Clark Howard Podcast 06.25.25 Warehouse Club Wisdom / Working Your Way Out Of Debt
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Jun 25, 2025 Many people are turning to warehouse clubs like Costco for budget-friendly shopping amidst economic concerns. However, there's a caveat—Clark expresses unease over a new payment option that he advises against. Tackling the burden of debt, the conversation explores practical strategies for managing finances, including side hustles and smart savings. The show also dives into the evolving landscape of online payment systems, touching on security issues and support for those navigating their financial challenges.
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Warehouse Club Savings Drive Demand
- Warehouse clubs like Costco, Sam's, and BJ's offer real savings that drive strong customer demand.
- Long checkout lines and crowded parking lots reflect their growing popularity despite some discomfort.
Avoid High Fee Borrow Features
- Avoid short-term borrow features like Cash App's 5% fee due in four weeks as their effective APR exceeds 60%.
- If you must borrow, the cash-out loan is a cheaper alternative than payday loans but still costly.
Avoid Using 'Pays' Payment App
- Ignore banks' push for payment apps like 'Pays' lacking clear consumer protections.
- Wait for regulated, secure platforms like FedNow before adopting new bank payment solutions.