Debt Reduction and Management

This section primarily focuses on debt management and getting out of debt. It also has subsections that cover related areas of borrowing and lending money, credit cards, and your credit (e.g., credit score and credit history).

Are You Responsible for Your Spouse’s Debt?

Are You Responsible for Your Spouse’s Debt?

Things can be complicated in a marriage, and this includes finances in some cases. When debt enters the picture, there are often many questions that come with it. In today’s world, it is likely that at […]

How to Avoid a Personal Debt Crisis

In the previous article, I discussed how to overcome a personal debt crisis. In this article, I want to discuss how to avoid it in the first place (or prevent it from reoccurring). The best way […]

How to Overcome a Personal Debt Crisis

How to Overcome a Personal Debt Crisis

You’ve hit a brick wall. You have run out of money and have no available credit. Everything is maxed out. You have no easy way to increase your income, and there are still bills due this […]

Is Your Debt A Relationship Killer?

Is Your Debt A Relationship Killer?

On September 3, 2010, the New York Times ran an interesting article entitled ‘How Debt Can Destroy a Budding Relationship.’ Granted, I don’t think in previous history we were looking at individuals bringing a quarter of […]

How to Avoid Debt Relief Scams

How to Avoid Debt Relief Scams

Did you watch any television last night? If so, then you probably saw at least one ad for some type of debt relief. And with all these companies making bold promises to help consumers, it’s no […]

How to Prioritize Your Debt Repayment Plan

How to Prioritize Your Debt Repayment Plan

Everyone knows that healthy personal finances requires debt reduction. However, paying down debt can become discouraging when you have a great deal of it, from a variety of sources. Paying a little bit extra every month […]

Retirement Savings versus Student Loans

Retirement Savings versus Student Loans

Prioritizing retirement savings against paying down student loans is a very common money management question for young workers today. This wasn’t the case in prior generations where college graduates start their first job with less student […]

Start an Emergency Fund or Pay Off Debt?

Start an Emergency Fund or Pay Off Debt?

Not long ago, I participated in a lively conversation in the GRS forums entitled: Debt Snowball vs. Emergency Fund. The premise is very simple. Should the person start an emergency fund while he’s still in debt? […]

What is Debt-To-Income Ratio (DTI Ratio)?

For someone who doesn’t carry a lot of debt, I didn’t give Debt-to-Income Ratio a serious thought until I start lending money on peer-to-peer lending networks — i.e., Prosper and Lending Club. The truth is, DTI […]

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