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Archive for the ‘Debt Reduction’ Category

How to decide whether to pay off debt now or later

Written by Richard Barrington - One Comment

A very wealthy and successful guy I used to work for once mentioned something about his mortgage to me. I was a little taken aback, and asked why someone with his money would still have a mortgage. His thinking demonstrated that there are several dimensions involved in the decision of when to maintain debt rather […]

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Published on May 3rd, 2016 - One Comment
Filed under: Debt Reduction
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Money worries and woodpeckers

Written by Richard Barrington - One Comment

I suppose it is bound to happen if you live in a wooden house in a semi-rural area. Our house has become besieged by woodpeckers. The insistent, get-you-up-out-of-bed nagging of their rapping on the walls reminds me of the inescapable angst of having money worries. The problem is, I know what to do about financial […]

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Published on December 29th, 2015 - One Comment
Filed under: Debt Reduction,House & Home,Retirement
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The hidden costs of bad credit

Written by Richard Barrington - Leave a Comment

The worst thing about bad credit isn’t being turned down for a loan or a new credit card. After all, there are worse things than not being able to borrow. The bigger problem with bad credit is that it can cost you money in a number of ways, and that added cost makes it easy […]

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Published on September 22nd, 2015
Modified on September 25th, 2015 - Leave a Comment
Filed under: Credit Cards,Debt Reduction,Frugality,Insurance,Self Employment
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7 financial lessons recent college grads still need

Written by Richard Barrington - 2 Comments

Around this time of the year, new college graduates are leaving their schools with a wealth of knowledge. At the end of their four (or six, or eight…) years of college, graduates have typically tackled a wide range of academic subjects, often with an impressive degree of complexity. Unfortunately, one type of lesson many of […]

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Published on June 15th, 2015
Modified on June 4th, 2015 - 2 Comments
Filed under: Banking,Credit Cards,Debt Reduction,Saving & Investing,Working
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Are Your Adult Children Destroying Your Retirement?

Written by Jeffrey Steele - Leave a Comment

I can still remember the days when the term “generation gap” was all the rage. Back in the late 1960s and early 1970s, that term was bandied about to describe the yawning philosophical chasm between Baby Boomers and their parents on topics as diverse as the Vietnam War, the length of one’s hair, and different […]

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Are You Getting Ahead or Falling Behind?

Written by Richard Barrington - One Comment

People have long spoken of “haves” and “have-nots,” but perhaps never in modern times has the economy seemed so separated between those who seem to be getting ahead and those who are falling behind. What complicates things is that appearances can be deceptive. The easy availability of debt can make a household believe it is […]

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The side effects of credit cards

Written by Richard Barrington - 2 Comments

While I’m not a fan of all the pharmaceutical advertising on television, I have to admit that they can be brutally frank about disclosing potential side effects. If you take something for chronic indigestion, a variety of things could happen which will make you lose your appetite — which at least would make you less […]

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Published on May 26th, 2014
Modified on May 23rd, 2014 - 2 Comments
Filed under: Credit Cards,Debt Reduction
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Is borrowing money a form of addiction?

Written by Richard Barrington - 2 Comments

In writing about household debt, as I often do, I sometimes feel a bit like Tom Wolfe writing the Electric Kool-Aid Acid Test: I’m trying to capture the character of a strange phenomenon while not myself taking part in it. Throughout my adult life, I have avoided taking on debt as much as possible and […]

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Published on March 3rd, 2014
Modified on February 27th, 2014 - 2 Comments
Filed under: Debt Reduction
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Preaching financial moderation

Written by Richard Barrington - 3 Comments

It may be old age creeping on, but I seem to increasingly find my financial advice advocating moderation — a balance between two more extreme courses of action. The following are several examples: Personal budgeting. I’ve been known to be an obsessive planner, but I don’t actually have a household budget. I take more of a […]

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Published on December 9th, 2013
Modified on December 6th, 2013 - 3 Comments
Filed under: Debt Reduction
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How to prepare financially for a bundle of joy

Written by Suba Iyer - 5 Comments

We will be welcoming our first child in less than a week. We started having a lot of conversations about starting a family a couple of years ago and have been preparing for it, including moving from dual incomes to one. It has been a roller coaster ride for us — emotionally, mentally, financially and […]

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