Category Archives: Debt

How Does a Balance Transfer Work?

A balance transfer credit card can be a tricky proposition, and if you aren’t familiar with the process, it can cost you money. It’s not complicated to transfer a balance from one credit card to another; a 0% balance transfer can even save you much, but there are issues you should be aware of beforeContinue Reading

The Very First Step When Eliminating Debt

This past weekend, I was involved in two separate conversations regarding debt repayment.  Interestingly both conversations concerned married couples that despite varied lengths of marriage had failed the first step when it came to destroying debt.   The very first step in getting rid of debt is actually knowing exactly how much you owe to creditors.Continue Reading

Has the Credit CARD Act Benefitted Consumers?

It’s just over a year since the Credit Card Accountability Responsibility and Disclosure (CARD) Act came into effect but has it heralded a change for the better for credit card users? The bill was introduced to limit the ways in which credit card companies could charge consumers and though it was first passed in theContinue Reading

My Favorite Thing About Paying off Debt

I have been aggressively paying down my auto loan since the beginning of the year.  Every time I am about to waiver and change course I remember my favorite thing about paying off debt.  What is my favorite thing about paying off debt? I don’t believe that debt is religiously evil, nor do I thinkContinue Reading

What do your Credit Card Issuer and Your Gym Have in Common?

Do you ever wonder why so many people have a tendency to want to buy now and pay later? In most cases, we know in the back of our minds that we can’t afford to charge that expensive trip to Europe, especially with unemployment hovering around 10%. Still, we choose to do it anyway, hopingContinue Reading

Actually Calculating the Interest Paid on a Payday Loan

I am not sure if it is that I am fortunate or that I am obsessed with my personal finances but I have never had to take out a payday loan.   However, I have always been curious as to what these loans actually cost to the borrower. The Pros of Using a Payday Loan TheseContinue Reading