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Archive for the ‘Debt Reduction’ Category

Is it possible to live debt free?

Written by Suba Iyer - 14 Comments

This post is from staff writer Suba Iyer.
“Modern man drives a mortgaged car over a bond-financed highway on credit-card gas.” ~Earl Wilson
So far, we have lived debt free. We used to live paycheck to paycheck because our spending was out of control, but luckily we never got into debt. Once we got our act together, [...]

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Published on May 6th, 2013
Modified on April 26th, 2013 - 14 Comments
Filed under: Debt Reduction
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Seven Ways People Make Their Money Troubles Worse

Written by Richard Barrington - 3 Comments

Psychiatrists say that realizing that you have a problem is the first step towards solving it. Maybe, but in my financial experience, what comes after recognizing the problem is more important.
After all, there’s no shortage of people who will tell you, loud and clear, when you have financial troubles. Overdue bill notices will come in, [...]

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Published on November 29th, 2012 - 3 Comments
Filed under: Debt Reduction, Frugality
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Paying Off Your Mortgage Early: Some Things to Consider

Written by Richard Barrington - 16 Comments

Now for a somewhat controversial subject, at least in financial planning circles: paying off your mortgage early.
A great deal of conventional wisdom says you should never pay a mortgage off early. I’ve gone against that conventional wisdom. Twice. I don’t know if that means I lack conventionality or I lack wisdom, but it seems to [...]

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Published on November 15th, 2012
Modified on March 24th, 2013 - 16 Comments
Filed under: Debt Reduction, Mortgages
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Dave Ramsey’s Financial Peace University: Remixed

Written by Guest Contributor - Leave a Comment

This is a guest post from Jessica Ward.
Nationally-syndicated radio host Dave Ramsey’s financial management program “Financial Peace University” (FPU) has undergone a makeover. The new course materials launched August 1 this year and, as a facilitator for a class beginning in September, I had the opportunity to compare the new program to the last version, [...]

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Published on September 20th, 2012
Modified on October 1st, 2012 - Leave a Comment
Filed under: Debt Reduction
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Get a Better Mortgage Rate Without Refinancing

Written by Nickel - 6 Comments

Over the past few years, mortgage rates have been falling, falling, falling… Just when you think they can’t go any lower, they do. During this time, a huge number of people have refinanced. And many have refinanced again. And again.
While refinancing your mortgage isn’t a terribly hard thing to do, it’s enough of a hassle [...]

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Published on August 8th, 2012
Modified on August 15th, 2012 - 6 Comments
Filed under: Debt Reduction, Mortgages
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Using Roth IRA Funds to Pay Off Debt

Written by Nickel - 3 Comments

A reader name Sam recently wrote in to ask about using Roth IRA funds to pay off debt. Here’s his question:
I have around $19,500 in a Vanguard Roth IRA. I need a new roof (which will cost $5,200) and I would also like to pay off credit card debt of $10,000. What is the maximum [...]

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Published on July 18th, 2012 - 3 Comments
Filed under: Debt Reduction, Retirement, Saving & Investing, Taxes
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The Fault Lines in Our Financial Self Image

Written by Jeffrey Steele - 4 Comments

It wasn’t all that long ago that popular radio stations in my hometown were regularly airing a commercial that never failed to make me guffaw.
The ad was for some debt-elimination service that promised to extricate its clients from a slag heap of bills. As I recall, the reassuring voiceover went something like this: “Okay, so [...]

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Published on June 7th, 2012
Modified on June 10th, 2012 - 4 Comments
Filed under: Consumer, Debt Reduction, Frugality
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When to Use Income Based Repayment

Written by Sarah Gilbert - 3 Comments

I paid off the tiny amount of undergraduate student loans I took out quickly — within a few years of graduating. And then I went to business school, where we all mutually assume we’ll make crazy money afterward, so who cares about a few student loans? And at first, I was on plan, and started [...]

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Published on May 22nd, 2012
Modified on June 10th, 2012 - 3 Comments
Filed under: Debt Reduction, Education
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Borrow Money to Invest?

Written by Nickel - 5 Comments

Would you ever borrow money to invest? That is, would you take out a loan such that you could put more money in the stock market or other investments? Think carefully. You might already be doing it without even realizing it.
And I’m not just talking about people who use leverage to amplify the returns from [...]

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Published on May 4th, 2012
Modified on May 17th, 2012 - 5 Comments
Filed under: Debt Reduction, Mortgages, Saving & Investing
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Bank of America Turning Mortgage Holders into Renters

Written by Nickel - 14 Comments

The latest news on the mortgage front is that Bank of America is testing a new program where they turn (former) homeowners into renters. Yes, really. It’s called the “Mortgage to Lease” program and it aims to convert those who are behind on their mortgages into leasees.
When I first hear this news, I was blown [...]

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Published on March 26th, 2012 - 14 Comments
Filed under: Debt Reduction, Mortgages, Real Estate
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