Credit Card Debt

Credit Card Grace Periods: A Quick Guide

If you’re like most people, you’ve heard of a credit card grace period – but you might not be totally sure about how grace periods work and how they can potentially save you money.    That’s why I decided to dedicate this week’s post to the grace period – what it is, how it works, and how you can qualify.   First Things First:  What is a Grace Period?...

Busting Debt Myths: Seven Common Misconceptions

Is it possible to “inherit” debt?  What happens to your credit score if you pay off a decades-old debt?  Are debt collectors obligated to listen when you ask them to stop calling you? Debt is a complicated topic, and there’s a ton of information – and misinformation – out there related to debt, credit, and debt collection practices.  But how do you separate the real facts from the half-truths?...

Delaying Your Spending Can Take a Big Bite Out of Your Credit Card Debt

When you’re struggling with high-interest credit card debt, you’re always looking for new ways to bring down your balance faster.  There are quite a few debt-repayment strategies to choose from, including a couple of my favorites:  the snowball method and the snowflake method.  Both of these are fairly flexible and can be combined with other savings and debt repayment strategies (in fact, you can even use them together!).   ...

Debt Repayment Strategies to Avoid

You probably know by now that I’m a pretty big advocate of responsible credit card use.  I don’t think credit cards are bad – but I do think that if you’re going to use them, you have to use them carefully and responsibly.  Don’t overspend.  Don’t treat them like cash or like an extra source of income.  And, most importantly, don’t carry a balance – you should be able...

Got Debt? Consider the Snowball Method to Pay it Down Quickly

If one of your goals for this year is to pay down your credit cards, it’s hard to go wrong with the “snowball debt payment method” of debt repayment.  Chances are, you’ve heard about it before:  it’s a favorite method of finance experts everywhere – and with good reason.  The snowball method is a simple approach that encourages focusing on one credit card at a time.  Through a strategy...

Five Unnecessary Credit Card Services

. . . and Why You Don’t Need Them  If you’ve got a credit card, chances are good that your credit card company has tried to sell you some other credit-related service.  At first glance, some of these offers sound kind of good – especially if you’re struggling with a high balance or dealing with credit score issues.  After all, who doesn’t want a better credit score or a...

Why Credit Card Minimum Payments Will Keep You In Debt

Have you been paying your credit card minimum monthly payments for years without your balance going down? This video shows you in simple terms, why making the minimum monthly payments will keep you in debt for a long time, and exactly how you can beat the system.

Be Aware of Debt Management Scams

Read on to get debt free now!  Such statements are common ways for debt consolidation companies to get your attention.  It is important to understand how debt reduction services work before you make an agreement with any of them.  Read the following blog post to get better familiarized with how you can identify the difference between genuine debt management companies and scammers. Those in trouble are easy prey; people...

Tips to Avoid Debt Management Services

Debt management services are readily available to serve you.  Experienced vendors can get you well on your way to credit debt relief, yet there are a number of ways you can avoid a difficult financial situation to start.  Read the following blog tips regarding  debt management. Are you making bad decisions? To begin, let’s make sure you are not making unwise decisions when it comes to credit cards.  Consider...

Retirement vs. Debt: From IOU to IRA in Two (Sort of) Simple Steps

Are you ready for retirement? If you’re like most Americans over the age of 25, chances are, probably not.  According to a recent study conducted by the Employee Benefit Research Institute (EBRI), Americans are dreadfully unprepared for their golden years.  In fact, according to the EBRI data, about 30 percent of us only have about $1,000 in our retirement funds.  Some people have even less than that. If you...