In this blog post, we will discuss what debt consolidation is, how it works, and how it can change your financial situation for the better. Whether you’re drowning in credit card bills or student loans, keep reading to discover how simple yet effective debt consolidation can be in creating a brighter financial future for yourself.
Debt Consolidation Made Simple Read More »
If you want to pay off your debts, it’s important that you approach the task the right way. So, we’ve put together important tips for managing debt as a family that will help you do it!
Important Tips for Managing Your Family Debt Read More »
At some point, your car is going to break down, your home’s roof is going to start to leak or an appliance is going to stop working properly. While you can’t pinpoint the exact time an issue may arise, there are things that you can do to fix the issue in a timely manner. The best option is to have an emergency fund to cover the cost of the repair. But what if you don’t have the savings? Then you must borrow the money. If that is your only option you want to arrange for the best terms possible.
How to Get Money to Cover an Emergency Repair Read More »
Saving for the future or paying off your debt. Both are lofty goals that most of us have tried., but when it comes to determining which is more important, the answer is rarely cut and dry. When confronted with student loan debt and credit card bills, sometimes it seems the best way to get out of debt is to just pay it off. The issue is interest rates. Generally, one’s interest rates are high while the other is relatively low, and if you’re not saving, you may run into trouble before you’re debt-free.
Reduce Debt or Save– What Should You Prioritize? Read More »
Debt can be an effective means to an end (such as home ownership) but it does need to be managed. Experts like Robert Kiyosaki say that there are two types of debt “good debt” and “bad debt”. Good debt is debt that “puts money in your pocket” and bad debt “takes money out of your pocket”. Examples of good debt are loans to start a business, buy rental housing, etc. Bad debt is consumer loans and car loans. A home purchase is actually borderline because it is an asset and its value generally keeps up with inflation but it is more like a forced savings plan (that you have to maintain) rather than a good investment. In our article The Wealthy Buy Assets, the Poor Buy Liabilities, and the Middle Class Buy Liabilities Believing They Are Assets we discuss this in further detail.Â
4 Tips for Staying on Top of Your Debt Read More »
