The processes and practices of getting our personal finances in order are simple to understand, but difficult to implement because they involve behavior changes. In the past something about how you were managing your finances was working for you – you were getting something beneficial from it or you would have been doing it [...]
You’ve seen the ads and heard the commercials touting the best way to get out of debt forever in a few short months. While these promises made by the unending number of companies popping up to help you eliminate debt may sound too good to be true, there is one thing you can take [...]
There are many different schools of thought on the proper way to pay off your debt. Some say to start attacking the high-balance cards first, some say to go after the high-interest debt first, and some fall into my school of thought: start with the low-balance debt first. This is exactly how I started [...]
After a relative dies, the last thing grieving family members may expect are calls from debt collectors asking them to pay their loved one’s outstanding debts. According to the Federal Trade Commission (FTC), the nation’s consumer protection agency, a surviving relative usually has no legal obligation to pay the debts of a family member who [...]
I will be on vacation for a little bit, so while I am gone I will be taking a break from posting every day while re-running some older posts you may have missed. Want to write a guest post for publication while I am gone? Email me or use my contact page to [...]
The title of this post is one of my favorite quotes from one of my favorite movies – Fight Club. The quote is from Tyler Durden, (and without telling you too much in case you haven’t seen the movie) who is anti-establishment and anti-consumerism…making it one of those movies that every person who [...]
While I am not a fan of carrying consumer credit card debt (yes, there are some people who don’t mind), there are three kinds of debt I don’t necessarily have a problem with. Going into debt to pay for a home, for an education, and even for a needed car are the only three [...]
In case no one noticed, there is a continually growing debt problem here in this country, especially with the economy the way it is. Americans are putting themselves further into a hole that while it seemed shallow at first, continues to get deeper and deeper the longer unpaid debt racks up interest. There [...]
Debt consolidation loans, debt settlements, debt management programs – as an increasing number of people find themselves trying to climb over a mountain of debt, the number of companies offering various types of assistance increase. Before you join one of these programs however, you should try to reduce your debt on your own and [...]
What exactly will 2009 bring us in terms of businesses closing down for good? Estimates are that hundreds of large, name brand businesses will go under in 2009 due to the economy – which while sad for the workers is not necessarily a bad thing. We have consumed ourselves right into this mess, and [...]
I received a question from reader Diane the other day as follows:
“My husband and I have a $5,000 balance on a credit card that is at 0% interest for another 8 months which we have been paying down slowly. However, carrying debt in this economy has us scared, so we are thinking of emptying our [...]
With all the bleak news reported daily and seemingly updated by the hour, it is impossible to not be aware of the panic surrounding the economy and where it is headed. The downturn in the economy does not just affect the United States or the wealthy; it affects everyone across the globe. While [...]
Every headline you read about personal finance right now says to get out of debt. With the economy crashing, the last thing you want to carry with you is debt, right? Well, yes and no – you do want to get rid of any credit card debt, for sure. But what about your [...]
Man, do I hope not. The first stimulus check cost us $168 billion dollars, and that was before we had this meltdown in the financial markets which has cost us not only $700 billion of our tax dollars, but also trillions of losses in the stock market. They tried for another one a few [...]
