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Do You Know The Real Cost Of Debt?
There’s how much debt you have, and there’s the real cost of debt. Do you know the real cost of debt? Or, more specifically, do you know what it costs to be in debt? Most people can’t answer this question accurately. You may think you know how much your debt is costing you, but there’s…
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How do you stack up to the average credit card debt?
What is credit card debt? Americans have several different types of debt, beyond credit card debt, which includes mortgages, auto loans, and student loans. All are totaling up to an average debt per household of $132,529. Besides standard credit card debt, like an everyday credit card, consumer finance accounts also fall under this umbrella of…
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What Does it Really Mean to Be Debt Free?
Being debt free doesn’t always mean having no debt. For most of us, debt is inescapable. It’s the sole reason why we can move into the house of our dreams, or rev up the operations of our own business. However, debt is often an angel in disguise; it can provide us a better way of…
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Americans Have Credit Card Debt. A Lot of It.
American’s Average Credit Card Debt: How Do You Measure Up? Despite minor growth in household income levels over the past few years, Americans are still largely burdened by consumer debt. This is by and large due to student loans, mortgage and of course, credit card debt. According to the Wall Street Journal, the total credit…
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How Does Debt Fit into Your Retirement Planning?
I wish I spent more time retirement planning: An all too common wish. Regardless where you live or what work you engage in, you always have a plan to successfully retire with the means to satisfy your needs and wants. Perhaps go on a tour across Europe or Africa, or spend time on a cruise…
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Store Credit Card: Worth the Rewards or a Path to Debt?
Store Credit Cards Account For Over $90 billion of Consumer Debt. You’re heading toward the cash counter, holding a few items you’ve picked out. You’re taking your wallet out to pay for your purchases when you hear the question you’ve heard a number of times before – ‘Do you have a store credit card?’ –…
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Making minimum payments on your credit card is like treading water.
The Real Cost of Making Minimum Payments on Your Credit Cards Like any rational consumer, minimizing loss and maximizing gains is the ultimate goal for your finances. A credit card can easily give you a false sense of security, emboldening you to spend when you should be saving. A creditor is dependent on you making…
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Worried about taxes on your settled debt? You may not need to.
In this article from Creditcards.com – a little known tax exemption is discussed. This exemption is for people that have had debt cancelled, or settled. The IRS considers this cancelled debt “income” for the consumer, and requires you to pay taxes on it. What most consumers don’t know is that insolvency qualifies you for exemption.…
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Handling Finances Through Life Changes.
Change is good, except when it’s not. Life is full of uncertainty and change is inevitable. But in most cases, the human brain tends to crave certainty and consistency. This is why we experience physical and emotional stress when faced with a major life change, especially when it concerns finances. When a life change occurs…
