-
Are You Carrying Too Much Debt?
Do you toss and turn at night worrying about your debt? If so, you’re not alone! From student loans to high credit card balances, carrying too much debt is common in America, which runs on credit. According to a recent Experian consumer debt study, outstanding consumer debt in this country reached nearly $17 trillion. While credit is a great convenience, it can also cause many challenges. Lugging too much... -
Need Debt Relief? Here Are Your Options
When your voicemail is filled with messages from collection agencies and stacks of bills arrive in your mailbox that you have no chance of paying, it’s time for some serious debt relief help. But before you seek relief from a professional, you should understand your options. Some professionals will helpfully walk you through a debt management program or counsel you about the best way to handle your debt, but... -
What To Do if You Can’t Pay Your Mortgage
Paying bills is stressful enough, but if you come to the end of your checkbook balance and discover that you don’t have enough to cover your mortgage, that stress goes up exponentially. But before you panic, you should know that you have options. First, Make Contact With Your Loan Servicer Before deciding how to move forward, your first step is to contact your mortgage loan servicer. Because loans are... -
Do You Have SMART Goals for Your Debt?
We talk a lot about credit card debt because it’s so pervasive in our society. In fact, the Federal Reserve estimates that the average American household carries $5,700 in credit card debt. And their prognosis is worse for those who can’t pay off their balances in full each month – those borrowers shoulder an average outstanding credit card debt of $9,333. If you fall into this second category, it’s... -
How to Repay Debt: 4 Options
So, you’ve got a bunch of unsecured debt. You’ve been managing it, for the most part, but you’re finally fed up. You’re more than ready to start living debt-free. Great decision! Now what? There are many different approaches for tackling debt repayment. The option you choose is strictly a personal decision – you need to find the tactic that you understand best and that you can sustain. The best... -
Determining Your Debt-to-Income Ratio
If you’re an American, chances are pretty good that you carry debt. In fact, a Pew report from 2015 found that 80% of us owe money. While that means we’re in good company, it also means that most of us are feeling the stress of debt and the strain of repayment. So, just how much debt is “too much?” Of course, it’s completely personal – you might be OK... -
Are You Ready for Another Credit Card? Six Questions to Ask Yourself
When mulling whether or not procure an additional credit card, there are several important factors to consider. After all, taking on additional credit usually means you’ll soon be accruing additional debt, which is something that should be entered into responsibly and only after you are fully aware of what you’re getting yourself into and what that might mean for your financial situation. In this post, we’ll discuss the pros... -
You Asked, We Answered: Credit Card FAQs
What’s the deal with “soft” vs. “hard” inquiries? How does a secured card work? How many credit cards is too many? As someone who has made a career out helping people with debt and credit card problems, I answer a lot of questions, and with good reason. Credit cards are complicated, and there’s a lot of information – and misinformation – out there, and it’s not always easy to... -
How to Overcome Common Money Worries
How to Overcome Common Money Worries Money worries: We all have them. Some of us lose sleep over credit card debt. Others are more concerned about “what-if” scenarios like getting laid off or getting hit with an unexpected – and costly – emergency. And still others wrestle with income-related feelings of envy or inadequacy. Unfortunately, there’s no way to really prevent the occasional bout of finance-related fear. Everyone worries,... -
How To Improve Your Finances in Just 20 Days
Looking for a way to get your finances in order? Want to set some goals, revisit your budget, or lower your monthly bills? Who doesn’t? Most of us want to save more, spend less, and build financial security – but things like budgeting and shopping for better interest rates can take time. But if you just take things day by day, a step at a time, it’s not so...
12