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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 to... -
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... -
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... -
Credit Cards: Are You Using or Abusing Them?
There’s no denying that credit cards are super-convenient: With a single swipe, you can pay for everything from a tank of gas to your morning coffee. You can use them to pay bills and earn reward points. And when you use them responsibly, they can help you boost your credit score. In other words, when it comes to easy payments, it’s really hard to beat a credit card. Unless,... -
Financial Frenemies
Financial Frenemies? There are some things that money simply can’t buy. You can’t purchase happiness or personal fulfillment. There’s no way to put a price tag on compassion or caring. The funds in your bank account can’t guarantee loving relationships or solid, caring friendships. But money can make relationships more complicated – especially if you’re surrounded by people who have less-than-healthy relationships with money. And whether you have a... -
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... -
When Frugal Goes Too Far
When “Frugal” Goes Too Far I love saving money. And while this probably isn’t news to anyone who reads this blog regularly, what may be news is that, when it comes to frugality, even I have my limits. Because while I’m all for mindful spending, bargain hunting, and so on, I do believe that there are some scenarios when insisting on short-terms savings can actually do more harm than... -
7 Hacks for Better Money Management
7 Hacks for Better Money Management It’s a brand-new year, and there’s no better time to get on top of your household finances. But before you start reviewing your spending habits and setting up or adjusting your budget, it’s a good idea to examine some of your money management strategies. Are you still paying your bills via check and “snail mail”? Do you lose track of due dates and... -
Common Ways we Justify Spending
Common Ways we Justify Spending Nothing derails a carefully planned budget faster than unnecessary spending. Sure, it would be great if we were all above temptation when it came to buying extra stuff that we don’t need (and can’t afford!) – but we all have our moments of weakness. Flash sales, special occasions, and peer pressure can all wreak havoc on our finances, especially when we come up with... -
“Money Challenges” Make Saving Fun
Think of them as a form of positive peer pressure. Money challenges are becoming an increasingly common sight online. They dare us to get out of our financial comfort zone, so to speak, to develop a healthy money habit or drop a harmful one. They’re fun, and they even offer built-in support: When you tackle a money challenge, you often have the comfort of knowing there are others out...