Should you pay off debt or invest? The answer really depends on your specific situation, but it is a question worth exploring in detail since so many people go through this decision-making process at one time or another. The first step to answering this question is to understand the debts that you owe. Pay Off … Read more Should You Pay Off Debt or Invest?
Not long ago, I participated in a forum discussion: Debt Snowball vs. Emergency Fund. The premise is very simple. Should the person start an emergency fund while he’s still in debt? In this case, we are talking specifically about credit card debt averaging 15% in interest. In this article, we will follow this sample scenario: … Read more Start an Emergency Fund or Pay Off Debt?
Are you looking for a solution to your debt problem? 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 wonder people are confused when searching for help with debt. Which makes them easy targets for … Read more How to Avoid Debt Relief Scams and Find Legitimate Help
If you have equity in your house on one side and a pile of debts on the other, you have what amounts to a math equation. If you could take some of that high-interest credit card costing you 20% interest and convert it to something that would cost you only 4% interest, you would come … Read more Should You Refinance a Mortgage to Pay Off Debt?
Debt is a problem that we all face at one time or another to some degree. Sometimes, it is just bad luck, but most of the times, it is good people that made dumb decisions. Regardless of what made you to be in debt in the first place, there is always a way to get … Read more How to Get Out of Debt Fast
Few people, when swiping their credit cards, or getting a car loan, do so with the intention of defaulting on their debt. In many cases, they are sure they can afford the debt, and that they will be able to make the loan payments. Unfortunately, debt tends to build up and can sneak up on … Read more Can’t Pay Your Debts? 5 Ways to Hide from Your Creditors
Being in debt is not fun. Unfortunately, many people do find themselves in debt, carrying a balance on multiple credit cards and loans. Even if you have a debt problem that seems insurmountable, you can eliminate credit card debt on your own without using a debt consolidation service. While I think the debt consolidation company … Read more How to Pay Off Credit Card Debt in 7 Steps
Debt Snowball is a debt elimination strategy popularized by Dave Ramsey, a renowned debt and personal finance guru. Under this method, you reduce your debt by paying the minimum monthly payment to all accounts, except the one with the smallest balance, which you’ll try to pay down as fast as you can. How the … Read more Dave Ramsey’s Debt Snowball and Other Methods
One of the ways to manage your debt and then pay it down is with the help of debt consolidation. Debt consolidation is a process in which you combine your debts so that you make only one payment each month. In many cases, you can also consolidate your interest rate payments as well, leading to … Read more 3 Best Ways to Consolidate Your Debt
So many students graduate with debt. In fact, student loan debt has surpassed $1 trillion, and the amount of student debt is higher than that of credit card debt. Chances are that you graduated with some student loan debt. I have student loan debt, and it should have been possible to get through all four … Read more 5 Ways to Pay Back Student Loans Faster