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The Six Deadly Sins of Credit Card Use
How a Few Bad Habits Can Add Up to a Cycle of Eternal Debt We all know that credit cards are hazardous to our financial health, but Americans are still using plastic just as much as ever. Just how bad is our addiction to plastic? According to a recent Cardhub study, Americans racked up a little over $18 million in credit card debt in the second quarter of 2011... -
How To Keep Your New Years Resolution To Get Out Of Debt
Simple tips that will help you get out of debt this year. 1) Track your spending for 30 days. 2) Evaluate your expenses and identify wants and needs. 3) Identify wants that you could do without. 4) Commit to saving the money from the wants and apply it to your debts. 5) Use the roll-up principle to quickly erase your debts. -
Need a Resolution You can Stick to? Pay Your Down Credit Card Debt. Five Steps to a Debt-Free 2012
Maybe you overdid the holiday spending this year. Maybe you’re planning on buying a house or a new car soon and you want to get your finances on track. Or maybe you’re just tired of dealing with the stress and anxiety that comes with your monthly credit card statement. Whatever the reason, if you want to pay down your debt in 2012, I’ve got a plan that can put... -
‘Tis the Season for Saving: Six Ways to Save Big on Holiday Gift Giving
The holidays are right around the corner, and if you’re like most people that means you’re probably looking for a way to get into the holiday spirit without getting yourself into a mountain of debt in the process. It’s always fun to give gifts, but shopping for friends, family, and the person on your office’s secret Santa list can get expensive – fast. No worries. This year, I’m kicking... -
How To Stay Within Your Holiday Budget
These tips will help you to set, and stay within a holiday budget. If you need additional help, sign-up for our free booklet: Debt-Free Holidays Handbook -
Five Decisions that can Make or Break Your Financial Future
You weren’t born rich. You didn’t win a million bucks in last week’s lottery (and, odds are, you won’t be next week’s big winner, either). You’re not a CEO, a movie star, a pro athlete, or a rapper with a multi-platinum album. You’re not Warren Buffet, Bill Gates, or Oprah Winfrey. And you know what? That’s okay. You don’t have to be any of those things to enjoy a... -
Clearing Up Commom Credit Limit Misconceptions
Are there really “no-limit” credit cards? Is a high credit limit better than a lower one? Will a high credit limit hurt your credit score? This month, I thought I’d spend some time discussing some of the more pervasive beliefs about credit limits. But first things first. Before you start reading, take this quick, 5-question quiz to find out how much you really know about credit card limits: 1. ... -
Credit Card Debt: It’s Never Too Late
What happens when you fall (and stay) behind on your credit card payments? And how do you fix it? If you’ve ever struggled with credit card debt, you’ve probably played the “what if” game. As in, “What if I just stopped sending payments?” Or, “What if I just ignore that collections letter?” It’s a tempting game to play – especially if you’ve got lots of credit card debt and... -
Five Budget-Friendly or DIY Substitutes for Day-to-Day Expenses
When you’re trying to save money, it’s easy to feel like you’re constantly torn between needs and wants — or in some cases, needs or other needs. And I think it’s this feeling more than anything else that keeps some people from sticking to a budget. But frugal living isn’t just about going without. It’s about getting creative and finding ways to live (comfortably) within your means. It’s about... -
Teach Your Kids About Money By Having Them Work
More than ever, we need to teach our children how to manage money. Giving your child a free allowance enforces the wrong perception of money, which can be disastrous when they reach adulthood. Here is a simple plan to teach them correct principles of the value of money.