Showing by category: Debt

Three Things to Do When You Are Facing Seemingly Insurmountable Debt
Most people will face seemingly insurmountable debt at some point in their lives. According to a study published by the Associated Press, more than three-quarters of American families were facing "some kind of debt" in 2004. In the wake of the 2008 recession and what it did to the job market and inf Continue Reading
The High Asset – High Debt Connection
Last month I wrote about How High Income Can Lead to High Debt. It seems to be an unlikely connection, but there are tangible reasons why it happens. Today I want to discuss a related, but also seemingly unlikely toxic debt association, the high asset - high debt connection. Record stock market valu Continue Reading
How High Income Can Lead to High Debt
Though it seems to run completely against logic, high income can lead to high debt. While it's generally thought that high income is the solution for high debt, the outcome is often the exact opposite. Often is because there is a certain amount of privilege that a higher income produces, and that ca Continue Reading
Build Savings or Pay Off Debt – Which Comes First?
Newsflash: You can’t get out of debt until you stop being broke! Some argue that if you’re in debt the priority needs to be to payoff your debts before attempting to build savings. Many call for the establishment of a small emergency fund—typically $1,000 — to handle contingencies, and then Continue Reading
How Much Student Loan Debt Is Too Much?
The state of the economy over the past few years has called into question our cultural love affair with debt of nearly all types. The once unassailable notion that home mortgages in nearly any type and in almost any amount were “good debt” has all but crumbled. A mailbox stuffed with credit card Continue Reading
5 RISKS to getting a College Education
The college game is changing. A number of factors have turned the one time ticket to the good life into a high risk proposition. Here are 5 risks... Continue Reading
10 Reasons Why People Cannot Get Out of Debt
Everybody knows that too much debt is bad; the financial universe is filled with blogs, experts, and gurus who tell us as much and even how to get out. So why is it that people cannot get out of debt? Is it because debtors behave badly, that they fail to adequately confront their credit problems Continue Reading
When You’re Serious About Getting Out of Debt Try These Strategies
There’s a lot of talk about getting out of debt. It happens in coffee shops and over kitchen tables. Dozens of books are written about it each year. It’s a virtual cottage industry on the Internet, and it makes the rounds on TV financial programs as well. And yet tens of millions of people are s Continue Reading
Pay Off Existing Debt or Invest the Money Elsewhere?
Whether it is a credit card, student loan, car repayments or a mortgage, most of us have some sort of debt. Although this seems to be how the world works these days, keeping on top of such heavy financial burdens can be quite involved, and can even make you feel powerless if the debt gets too heavy. Continue Reading
Should You Use Retirement Savings to Pay Off Debt?
Despite the near sacrosanct status of tax sheltered retirement savings accounts, there are situations in which liquidation makes abundant sense. From the outset, let me say that I don’t advocate raiding retirement accounts except under extreme circumstances. When to consider tapping retirement Continue Reading

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