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Archive for the ‘Debt Reduction’ Category

Dave Ramsey’s Baby Steps

Written by Nickel - 11 Comments

While I’ve been somewhat critical of Dave Ramsey and his “Debt Snowball” in the past, he’s definitely helped an awful lot of people get their finances in order. Thus, I thought that it might be worth spending a bit of time talking about Dave’s “Baby Steps” for getting out of debt and improving your finances. […]

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Published on January 18th, 2017
Modified on January 19th, 2017 - 11 Comments
Filed under: Debt Reduction
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Dave Ramsey is Bad at Math

Written by Nickel - 693 Comments

See also: Dave Ramsey is Good at Psychology If you’re familiar with Dave Ramsey, then you’ve no doubt heard of his ‘snowball’ approach to paying down your debt. In short, Ramsey suggests that you make minimum payments on all but the debt with the lowest balance. Any additional money you have goes to that lowest […]

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Published on January 6th, 2017 - 693 Comments
Filed under: Credit Cards,Debt Reduction
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How to Get Out of Debt

Written by Nickel - 36 Comments

On the way home from work the other night, I heard a radio commercial touting a debt reduction system that (supposedly) works like no other. As I drove along, I couldn’t help but chuckle. After all, they made it sound like there’s some sort of silver bullet out there that will magically make your debt […]

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Published on January 5th, 2017
Modified on January 6th, 2017 - 36 Comments
Filed under: Credit Cards,Debt Reduction
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Paying Off Your Mortgage Early: Some Things to Consider

Written by Richard Barrington - 19 Comments

Let’s talk about 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. Well, I’ve gone against that conventional wisdom. Twice. I don’t know if that means I lack conventionality or I lack wisdom, but […]

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Published on January 3rd, 2017 - 19 Comments
Filed under: Debt Reduction,Mortgages
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Should You Consolidate Your Federal Student Loans?

Written by Abby Hayes - Leave a Comment

Student loan consolidation is often touted as one of the big perks of using federal student loans. Unfortunately, there are a lot of myths out there about consolidating your student loans. This leads many graduates to assume that consolidating their loans is a great option—or even the only option if they want to get out […]

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Published on November 30th, 2016
Modified on December 2nd, 2016 - Leave a Comment
Filed under: Debt Reduction,Education
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How to decide whether to pay off debt now or later

Written by Richard Barrington - 8 Comments

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 - 8 Comments
Filed under: Debt Reduction
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Money worries and woodpeckers

Written by Richard Barrington - 10 Comments

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 - 10 Comments
Filed under: Debt Reduction,House & Home,Retirement
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The hidden costs of bad credit

Written by Richard Barrington - 2 Comments

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 - 2 Comments
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 - 3 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 - 3 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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