Debt Management

Debt and the Brain: Studies Show Harmful Effects

“It’s such a wonderful feeling to be in debt,” said no one. Ever. Owing someone weighs heavy. Just ask anyone who’s ever been beholden to someone! But more than just an icky feeling, there’s proof that being indebted to another can actually be bad for your health. Indeed, eliminating debt might have much more far-reaching implications than simply boosting your bank account. Getting rid of IOUs can ease anxiety...

Don’t Let Sneaky Expenses Bust Your Budget 

A detailed, well-planned budget is one of your best tools in your quest for financial responsibility and a good defense against overspending. However, even the savviest of budgeters can find themselves in tight money situations thanks to sneaky expenses that inevitably seem to crop up. Here is a list of some of the most commonly missed or forgotten budget items, and some tips on how to plan for them....

Debt Reduction Mistakes to Avoid

Do a quick Google search of something like “pay down debt” or “debt advice” or “credit card payoff” and one thing becomes very clear: Just about everyone has an opinion about the best way to pay down debt. Some folks are huge proponents of the snowball method; others are staunch believers in tackling the debt with the highest interest rate first – no matter what. Most debt repayment methods...

The Best Apps and Websites for Budgeting and Saving

It’s easy to spend money online – too easy, really. It’s near-impossible to surf the web without being bombarded by advertisements and sales emails targeted to your exact preferences and interests. With a few clicks, you can find yourself spending money you don’t have on things you don’t really need. But that’s only part of the story. When it comes to your finances, there’s more to the Internet than...

Friending and Spending Social Media and Money

There’s more to social sharing sites than witty status updates, silly memes, and cat photos. Social media can influence our behavior in all kinds of ways, including our spending habits. This makes sense, if you think about it: There’s the friend whose Instagram feed is an endless stream of perfectly filtered shots of gourmet meals. And the cousin whose Facebook feed seems to be completely composed of pricy home...

Cut These Expenses in 2016 and Watch Your Savings Grow

Want to make 2016 a great year for your finances?  The new year is a great time to set some money-related goals, whether you’d like to pay off your high interest credit card debt, beef up your emergency fund, or save up for a big purchase like a vacation or a down payment on a house. Of course, whatever your goal is, you’ll need to free up some extra...

What is a Debt Management Plan? And is it Right for You?

Wouldn’t it be great if it were as easy to get out of debt as it is to get into debt?  All it takes is a few months of overspending to create a mound of debt that can take decades to pay back.  There’s no quick fix when it comes to paying off credit cards – and that’s especially true if you’re dealing with several cards with high balances....

Maxed-Out Credit Cards? Advice for Undoing the Damage

One of the worst parts about credit card debt is that, if you’re not careful, it can creep up on you:  You start out with the best intentions.  You plan to pay off your credit card in full every month.  You plan to treat your credit card like cash, and to use it responsibly, as a tool to help you build a solid credit history.   It’s so easy...

Should You Take on Debt? How to Decide

Should You Take on Debt?  How to Decide It might surprise you to know that I’m not 100 percent anti-debt.  As someone who has made a career out of giving debt advice, I know that debt problems can be devastating – especially when there’s high-interest credit card debt involved. But I also understand that, in some cases, debt is hard to avoid.  That’s why, to me, debt management isn’t about...

Credit Card Balance Transfer Pros and Cons

If you’re carrying a substantial amount of credit card debt, there’s a good chance that you’ve probably at least considered using a credit card balance transfer to pay off credit card debt that have high interest rates.  And with good reason: With super-low interest rates, balance transfer offers can seem like a ray of hope in an otherwise bleak debt situation. But are credit card balance transfers a good...