Debt

Got Debt? Seven Repayment Strategies

Few things in life can be as stressful as living with credit card debt.  High-interest debt can make it difficult to do things you want to do, like build up retirement savings or an emergency fund; take vacations; or even buy a house.    If you’ve ever tried to pay down a large credit card balance, you know that it’s not easy.  But it’s also not impossible.  Want to...

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!).   ...

Credit, Debt, and Taxes: What You Should Know

The official IRS deadline is nearly here (it’s April 15 – unless you’re planning to file for an extension), but it’s never too late to talk about some of the ways that income taxes can affect your life – and your credit.   For example, did you know that certain types of credit card rewards are considered taxable income?  Or that paying your taxes late can hurt your credit...

Ways to Save and what Habits to Avoid

Escaping the hold and weight debt puts on a person is a relief, but once your debts and bills are paid off then what? With no overdue payments, or backed-up bills to worry about you will be able to do something that may now seem strange to you, Save! Avoid slipping back into your old debt gathering ways and start saving your money. The first step in saving money...