Term: Debt
39 found

5 Ways To Get Out of Debt: Which Will Work for You?

By Steven Shaw on 7/3/2013

5 Ways to Get Out of Debt: Which Will Work for You?

Being in debt has a bigger impact on your financial future than you might realize. Bad debts can continue to haunt you and your credit report for years, especially if you don’t deal with it now. The first step is knowing where you stand.

Debt
Debt-Free

How to Make a Budget From Scratch

By Steven Shaw on 7/2/2013

make a budget

The difference between people who are financially secure and those who are not often comes down to one thing: Whether or not they make a budget — and stick to it. Of course, there are many other factors, but that is a consistent one. Not only does budgeting lead to security, but it also can play a role in helping you pay off debt and raising your credit score over time.

budgeting
Debt
pay off credit cards
Payday loans
personal finance

How to Stay Debt-Free

By Steven Shaw on 6/13/2013

stay debt free

If there’s anything that’s as important as getting out of debt, it’s staying out of debt. And the first step toward staying out of debt is to fully understand your current financial situation, and establish some goals on how you want to spend your money.

Debt
debt vs savings
Debt-Free
Debt-to-Income Ratio

How to Avoid a Debt Collection Snowball

By Steven Shaw on 6/12/2013

debt-collection-snowball

If a creditor gets a judgment against you for a debt collection item, you may wind up paying more than you bargained for. Our reader, Catherine, recently shared her experience with this:

Debt
debt collection
debt collector
judgment

How Fast Should You Cut Your Debt?

By Steven Shaw on 5/15/2013

How Fast Should You Cut Your Debt?

Unfortunately, there is no quick fix to eliminate debt. Not only does it take patience, time and diligence, but also a clear understanding of why we get ourselves into debt in the first place. Was it that our wants were greater than our means? Was it thinking we could pay down our debt, only to realize after our bills, we had nothing left over? Determining how fast we can and should eliminate debt starts with a few simple steps.

budgeting
Debt
debt vs savings
managing debt

How I Turned My Financial Life Around in a Year

By Steven Shaw on 5/8/2013

How I Turned My Financial Life Around In One Year

When Linda Mannerberg attended the Women’s Money Conference in Las Vegas Nevada in 2012, she was struggling with debt and a gambling addiction she hid from those closest to her. She attended the conference again this year in April 2013, but this time she was in a completely different place. She received a standing ovation for turning her financial life around in just a year.

auto loan
credit score
Debt

5 Money Tips That Aren’t Absolutes

By Steven Shaw on 4/25/2013

5 Money Tips You Should Rethink

Back in the day, if you needed something expensive you just saved for it. Or, you put it on layaway, or maybe joined your bank’s Christmas Club. (Kids, ask your parents.) You also may have saved for your children’s college education or your annual vacation. The prevailing attitude among financially responsible people was that “if you can’t afford to pay cash for it, you don’t need it.”

credit report
credit score
Debt
personal finance

Student Loan Debt Keeping Millennials From Home, Car Loans

By Steven Shaw on 4/19/2013

CFPB Takes Aim at Discriminatory Auto Lending

In recent years many studies have shown just how burdensome student loan balances have become for millions of borrowers across the country, but new data shows they are likely also playing a role in those consumers’ ability or desire to take on other types of debt. That trend could have a serious negative impact on both the housing and the auto markets.

Millions of young Americans may now be actively trying to avoid applying for mortgages and auto loans as a result of the massive amount of student financing they have taken on, according to new research from the Federal Reserve Bank of New York. The percentage of 25-year-olds with outstanding student loan debt has grown to 43% through the end of 2012, up from just 25% nine years earlier. And at the same time, the average amount of debt held on those balances climbed to $20,326, an increase of 91% from 2003′s $10,649.

Debt
millennials
student debt
student loan repayment
student loans
students

Debt Collectors Killing Your Credit? Here’s What To Do

By Steven Shaw on 4/17/2013

5 Steps to Cleaning Up Collection Accounts

“I want to clean up my credit. How do I take care of collection accounts?” It’s a question we hear often, often from readers like Kim, who wrote on the Credit.com blog:

I have to admit that I have a few collection accounts… Until a year ago, I just stuck my head in the sand and completely ignored the debt because it seemed too overwhelming to tackle. But now I’m trying to face my fears and eventually reclaim my “good/excellent” credit score standing.

If your credit report lists one or more collection accounts, here’s how to tackle them in five steps.

Debt
debt collection
debt collector

Spring Cleaning: How to Organize Your Finances

By Steven Shaw on 4/11/2013

Spring Cleaning: How to Organize Your Finances

Spring has traditionally been a time for cleaning our homes and clearing away the clutter that has accumulated throughout the winter. It’s a satisfying approach to the season because it gives us the feeling of starting fresh. There’s no better way to put a spring in your step (no pun intended) than by freeing yourself of unnecessary messes.

And that is true for your finances as well. So why not embrace the concept of a financial spring cleaning this year? Below, we’ll look at ways you can organize your financial life to make sure the rest of your year is as peaceful and prosperous as you’d like.

budgeting
Debt
personal finance