Category

Manage Debt

Category

If you’re like most college graduates then you probably finished school with student loan debt. It has been estimated that the average grad now walks away owing around $25,000 while the total value of outstanding student debt in the United States has recently topped $1 trillion. There are a lot of people out there talking about what this means. Some are saying it’s the next economic bubble set to burst, while others believe that if…

One of the most depressing things about credit cards is the interest rates that you are charged. The interest rate you pay can make it harder to pay down debt and obtain financial freedom. If you are looking for a bit of a break, you can call your credit card companies and negotiate a lower interest rate. This will help you put more of your payment each month toward the principal, helping you achieve financial freedom.…

One of the first, and most important things, that you need to do if you are looking to get out of debt is to stop spending more. It sounds obvious, but it really is difficult to stop digging when you’re trying to get out of the debt hole. Here are a few strategies that might help you stop the spending habit and turn things around: Put your credit cards away: As you might imagine, one…

I hate to admit it, but it’s been awhile since I’ve checked my credit report. Normally, I check my credit report three or four times a year. However, I’ve been a little lax recently. I don’t need new credit, and I’ve just not thought about it much. I’m about to rectify that, though. It’s important to check your credit report regularly. Here are 3 reasons to keep track of what’s in your credit file: 1.…

The student loan industry is huge now. Indeed, outstanding student loan debt now exceeds outstanding credit card debt in the U.S. As you get ready for college this fall, it’s a good idea to think about your college funding options, and consider your financing. If you have a child that is still a few years away from college, it’s never too early to start saving. Here are some ways to avoid student loans: Save up:…

Many of us have a goal to pay down debt and to increase the amount of money that we save. The only issue that seems to get in the way is a lack of resources. What happens is you don’t feel like you have enough money to pay down your debt faster or improve your savings rate? When it comes right down to it, there is only so much cutting you can do. There are…

One of the most common financial goals that many people have is paying down debt. Finding the money to pay down debt can be difficult, though. In order to be more effective as part of a debt pay down plan, you need to make some changes in the way you handle money. This way, you will be able to pay down your debt faster: Move Debt Up the Priority List The first thing you need…

It can be tempting, when creating a debt pay down plan, to start with the lowest balance first. This is because you tend to get an emotional boost when you pay off the debt. It can help you keep going. But, if you are looking at matters as they relate to saving money as you pay off your debt, you should consider starting with highest interest rate debt first. In some cases, your highest interest…

Minor Spoilers Ahead. You’ve been warned. Waiting for Superman Review ‘Waiting for Superman,’ is a poignant, competent movie on the state of education in the U.S. Starting out slow, it revs up and shows a world, where the hopes and futures of children rest on the luck of the dice. Though very true, it often belabored the point. This film was more of a what’s wrong with education, than a “how to” fix education. I would have also like…

ReadyForZero is a new, launching (still in beta), application to help consumers with loads of credit card debt, cleanse their financial sheets. It is basically advertised as an application which simulates what a financial advisor will tell some with loads of credit card debt. Y Combinator-backed startup ReadyForZero is announcing a $260,000 seed round of funding from a number of well-known angel investors including Steve Chen, the co-founder of YouTube; Dave McClure, Benjamin Ling, Nils…

The recession saw a definite drop in the amount of 0% credit card offers seen in the mail. With the credit crunch, it was quite difficult to qualify for any kind of loan — including a credit card. Even though credit is still a bit crunched, issuers are starting to come back from the brink a little bit, offering credit cards again. [ad#Content 300×250] One type of credit card offer you might see in your…

With the Federal Reserve trying to bolster the United States economy, interest rates are close to an all time low. Banks are able to borrow money from the Fed at just 0.25%. Since rates are so low, banks have dropped interest rates on all deposit and investment products. A standard savings account is yielding just 0.10%. Low interest rates are not just terrible for savings accounts. They hurt certificates of deposits, bonds, and other investments…

I was recently reading a CNN Money article on the financial outlook of men versus women. The author found that women tend to be more optimistic than men about their financial future. It got me thinking as to what other differences exist between men and women when it comes to there finances. Here are a few examples of when it would pay for men to think more like women. Women are better planners. Women get…

In order to make back the money lost by the Credit Card Act of 2009, credit card companies are trying new tricks to raise money. At a time when consumers are trying everything possible to get out of debt, credit card companies are doing everything possible to keep them in debt. In order to protect yourself from these shady practices, you have to know your rights under the law. Here are 3 new ways that…

Are you looking for solutions to help you clean up your credit? Improving your credit score may take time but it does not have to be difficult by any means. Today, I am going to take a look at how to get your accounts out of collections so you can get back on the track to building good credit. Here is my 5 step plan for eliminating old debts and improving your credit score. 1.…

Millions of Americans are racked with debt. Credit cards, auto loans, and personal loans are the biggest culprits for placing individuals in a financial stranglehold. These individuals often want quick solutions to make their debt troubles disappear. In trying to alleviate their debt woes, they often take a bad situation and make it much worse by turning to the wrong financial products. Here are a few of the financial products that may be more trouble…

Today I want to talk about the four letter word that we all hate, DEBT! Debt is the enemy of building wealth and can rob you of your financial dreams. Too many Americans find themselves unable to enjoy life because of debt problems. Today we want to take a look at a 4 step approach to eradicating debt. Follow these 4 steps and your debt free dreams can come true. 1. Organize your debts. The…

A while back my Sister asked me if she could borrow some money to pay off her credit card debt. Nothing big, just under $2,000 and the credit card even had a decent rate. But with her less-than lucrative career she is having a hard time paying it down.  And it was holding her back from buying a new car. Without this debt she should be able to show a good credit score and a…