Debt

/Debt

Debt is a four letter word that almost every person has had to deal with since the beginning of written time and history.  Debt was talked about in the bible, by Shakespeare, and by tens of thousands of other authors since.  The posts found in this category have to deal with either my personal relationship with debt, or the idea in general.

How to Get out of Debt Faster

If you have recently graduated college, then you might already know how it feels to be in debt. Many people choose to bury their heads in the sand by not confronting their debts. However, when disaster strikes – job loss, unexpected illness, or an expensive home repair – you will have to deal with your debts. No matter what kind of debt you are paying off, it might take years or decades to clear it. Here are some steps that will help you to get out of debt faster: Pay More than the Minimum Instead of paying the minimum amount on your [...]

By |2018-08-29T10:24:59-04:00August 29th, 2018|Debt|0 Comments

What is the Debt Snowball and Creating a Spreadsheet to Implement It

When I first started this blog, it's main goal was to keep me accountable especially with regards to erasing the debt that had crept into my life.  I felt the blog would keep me accountable while I shared my monthly updates of debt reduction.  Fast forward a few years and debt eradication just isn't a huge part of my life anymore (thankfully).  Notwithstanding, I had an interesting conversation with a co-worker and it inspired me to revisit the idea of a debt snowball as a way to pay down debt. Steps Needed Before You Build Your Debt Repayment Plan This may seem obvious to [...]

By |2018-03-01T15:31:11-04:00September 14th, 2017|credit cards|2 Comments

Calculating Micro Prepayments on my Mortgage

For the past few years, I have rounded up my mortgage payment to the nearest $100.  It isn't a ton of money, and to be honest I don't even give it much thought.  Normally I just throw away the statement without even opening it, and then last week for whatever reason I actually opened it.  I saw the remaining balance and I began to actually think about those few extra dollars.  Not because it is a lot, but rather, on a level of curiosity.  Am I really saving that much interest? Did it really change my amortization table?  Should I continue to [...]

By |2017-05-30T22:17:42-04:00April 24th, 2017|Debt|1 Comment

5 Surefire Ways You Can Better Manage Your Debt, Today

Accumulating debt can put enormous strain on you and your family. The bills are piling up, and you cannot afford to pay a dime. Even if you don’t realize the real problem, or you don’t foresee the rainy days, you need to take action now and begin to actively manage your debt.  Best to do it now before your debt accumulates to the point of declaring bankruptcy. Here are some useful tips on how you can better manage your debt, today. Set priorities Your debt may comprise of mortgages, credit cards, personal loans, and so on. Make sure to set priorities on what [...]

By |2017-02-11T21:47:45-04:00August 4th, 2016|Debt|1 Comment

More Companies Offering to Assist Employees with Student Loan Debt

For a long time, it felt like there was no end in sight with the student loan debt crisis. The crippling $1.3 trillion in education that did not meet the financial expectations of a good paying job is a recurring migraine for many Americans. Student loan debt as high as $130,000 is no longer unheard of. But there could be some relief on the horizon for this crippling debt. Many students halt their 401k payments to pay off debt, which is an unconventional but popular idea if you follow personal financial plans like Dave Ramsey’s 7 Baby Steps model. But what if [...]

By |2019-05-08T11:40:47-04:00June 1st, 2016|Debt|0 Comments