All Entries Tagged With: "Debt"
Practical Ways to Break the Bondage of Debt
Tweet From governments and corporations to individuals, debt is an epidemic. The statistics reported by The Credit Examiner paint a grim picture of the America’s financial health. Americans owe a collective $11.38 trillion. $8.15 trillion in mortgages, $914 billion in student loans, $852 billion in credit card debt and $72 billion in auto loans. Let’s [...]
Good Debt vs. Bad Debt
Tweet The accumulation of debt is can be a necessary evil for personal finances. The majority of us don’t have enough cash on hand to pay for a child’s education or a house. However, a majority of people often let debt grow to dangerous levels. This is due to wanting things now and not putting [...]
The Pros and Cons of Co-signing a Loan
Tweet There are many situations where you might find yourself being asked to co-sign a loan. Often such a request can arise in the context of a personal relationship. For example one of your children may ask you to co-sign a loan for a first car or for college tuition, or a friend or relative [...]
Should You Pay Off Your Auto Loan Early?
Tweet Carrying debt is always a drain on the finances, so many people look to pay off their loans early. When you’re talking about credit cards or other high-interest revolving debt this is certainly true. But when you’re talking about a lower interest installment loan the benefits may be far less than you anticipated. The [...]
Payday Loans – Ripping You Off One Fee at a Time
Tweet Payday Loans Can Cost You Thousands Payday loans go by a variety of names: payday loans, cash advance loans, check advance loans, post-dated check loans, or deferred deposit check loans. They sound harmless, because in most cases you’re just borrowing money to get you through to pay day, but under the surface they are [...]
Teaching Personal Finance in the Classroom and at Home
Tweet Money is a taboo subject among most Americans, and few families even stop to consider discussing the household budget with their children. But with consumer debt totaling $13.4 trillion in 2010, according to the Wall Street Journal, students need a sound financial education just as much as they need a firm foundation in other [...]
Use a Credit Card Responsibly to Earn Rewards While Shopping
Tweet Credit cards get a bad rap, although it is justified. Credit cards can pose a danger to your personal finances if you use them irresponsibly. Unfortunately, this is all too easy to do and it’s why credit card debt is such a problem in this country. Just making a few purchases and forgetting to [...]
Managing Your Credit Responsibly for Financial Gain
Tweet Many people know at least a few people who have struggled with their finances over the years. It may have occurred to you to simply forgo credit cards and loans altogether so that you aren’t tempted to fall into the same trouble. While this may be a noble goal, it may not be the [...]
How to Use a Debt Snowball to Get Out of Debt Fast
Tweet One of the more effective ways to help pay down debt is to create a budget you know you can afford each month for paying off your obligations, and then finding a method for effectively applying that budget. A proven way to accomplish this is the debt snowball. With the debt snowball method, you [...]
Working With a Credit Counselor in a Time of Need
Tweet Credit counselors provide a much-needed service to consumers. Thousands of people are drowning in debt, and they don’t know how to fix a low credit score or get rid of their persistent bill collectors. Credit counselors often teach their clients how to manage money, take care of a FICO score and pay down debts [...]
The True Cost of Credit Cards
Tweet Since their introduction in the 1920s, credit cards have been both a blessing and a curse. For those who know how to use them wisely, these little plastic cards can be valuable financial tools, but for those who do not understand the true, hidden cost behind credit card usage, debt can soon destroy financial [...]
Infographic – Generations and Debt
Tweet What would you do if you had a lot of credit data and wanted to help educate people on how to be better with credit and debt? You’d probably pore through the data, try to find some trends, and then share those trends with the world. It’s something a lot of credit bureaus try [...]
What to Do If You Can’t Pay Your Taxes on Time
Tweet As the tax deadline looms, it is an appropriate time to explore what can happen to a taxpayer who is unable to make their tax payment to the IRS. While this is not a situation you typically plan on being in, it happens to the best of us. At least you have a few [...]
Suze Orman Shows True Colors With Her Approved Prepaid Debit Card
Tweet If you haven’t heard by now, personal finance guru Suze Orman has launched a new prepaid debit card called The Approved Card. That’s right, another celebrity-backed card similar to what Russell Simmons has done, and what the Kardashians tried to do. But since this card is being endorsed by a well-respected personal finance expert [...]
10 Mistakes That Hurt your Credit Score
Tweet We all worry about our credit score., but how many of us actually go out of our way to protect our score and avoid certain decisions that could negatively affect it? During our lives we will face numerous financial decisions that could impact our credit score. Don’t know which actions to watch out for? [...]
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