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Layaway: An Alternative to High-Interest Debt
If you’re like most people, you’re probably looking for ways to get the most bang for your holiday buck – without racking up piles of new, high-interest credit card debt. Black Friday is one way to snag some great prices, but those post-Thanksgiving “doorbusters” and “early bird” deals only apply to a few very specific items. Saving up to pay cash is another smart strategy, financially speaking – but... -
Before you Transfer: Tips for Making the Most of a Balance Transfer
A balance transfer – especially a balance transfer with a 0% introductory interest rate – can seem pretty tempting, especially if you’re feeling overwhelmed by mounds of high-interest credit card debt. But are balance transfers worth it? Will that 0% interest rate really save you money over the long haul? A typical balance transfer offer allows you to move some (or all) of your credit card debt to... -
Seven Signs of a Debt Problem:
Are you in control of your credit card debt – or is your credit card debt controlling you? Although I often encourage my readers to avoid using credit cards altogether and to try for a zero balance on any credit cards they do have, I also understand that some people use credit cards. There are lots of reasons people use them – some folks earn rewards like airline... -
How Much Money Are You Leaking Every Month?
Six Little Expenses That Chip Away at Your Finances You think of yourself as a careful spender. You budget – or try to, anyway. You don’t go on spending sprees. You can’t remember the last time you ate at a restaurant. You haven’t set foot inside a Starbucks since the late ‘90s. In other words, you’re pretty darn frugal. But somehow, at the end of the month, your bank... -
The Debt Guru’s Official Black Friday Survival Guide
Halloween is behind us, Thanksgiving is on the way – and the holiday shopping season is nearly upon us. That’s right: Now that November is here, those big holiday sales are right around the corner. But are they worth it? Where do you find the best Black Friday deals? Should you wait for Cyber Monday instead? And what the heck is Cyber Monday, anyway? When should you pounce on... -
How to Save Up $300 in time for the Holidays
I know, I know: It’s October. It’s not even Halloween yet, and I’m rolling out the holiday topics. But the thing is, it’s almost November. Pretty soon, malls will start putting up Christmas decorations. Department stores will start offering crazy “early bird” sales that start at five a.m. Your kids will start dropping hints about this year’s “must-have” toys. Before you know it, the holiday season will be in... -
Hate Budgets? Try This One!
Budgets have kind of a bad rap. If you’re like most people, “budgeting” is probably not on your list of favorite things to do. In fact, if you’re like most people, the very word “budgeting” probably makes you cringe just a little. After all, unless you’re a serious financial geek, there’s nothing particularly fun about creating those little spreadsheets and tracking all of your monthly expenses, down to the... -
Thou Shalt Live Within Your Means (for financial happiness)
During a recent family vacation, I spotted a sign in front of a church parking lot that said: “Thou Shalt Not Park Here.” That sign gave all of us a good laugh – and it also gave me the (divine) inspiration for this week’s topic. Whether you’re looking for ways to get out of debt or strategies to stretch your hard-earned dollars just a little bit farther, these... -
Four Compelling Reasons For Getting Out of Debt
Nobody really wants to carry credit card debt – but it’s easy to rationalize debt as just one more unpleasant part of life. For many people, credit card debt becomes an endless cycle – we pay it down, rack it up again, pay it down, rack it up again – and so on. But have you ever stopped to think about just how great it would be to live... -
Six Good Reasons to (Responsibly!) Use Your Credit Card
For this month’s blog, I thought it would be fun to talk about something I almost never talk about: the benefits of credit card use. Yes, you read that right. There are benefits to credit cards. I spend most of my time working with people who are struggling with crippling amounts of credit card debt – and there’s no doubt that, if used irresponsibly, credit cards can wreak havoc...