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 moreStart 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 moreHow 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 moreShould 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 moreHow 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 moreCan’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 moreHow 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 debts, except the one with the smallest balance, which you’ll try to pay down as fast as you can. How the Debt … Read moreDave Ramsey’s Debt Snowball and Alternatives
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 more3 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 more5 Ways to Pay Back Student Loans Faster
We can all see the benefits of having a large retirement portfolio. If it’s big enough, it can provide you with a standard of living comparable to — or even higher than — the one that you have when you’re working. But let’s face it, not everyone will have a retirement portfolio that will be … Read moreShould You Pay Off Debt or Save for Retirement?