Too often, our “bad” debt spirals out of control, especially with credit cards and other forms of revolving debt reaching $25,000, $40,000, or even $75,000 with no way to pay them off. At that point, the minimum payments alone become a burden every month, and it would take decades to pay off at a ludicrous total cost. In fact, a…
Are you in debt, chances are that you have credit cards, maybe a car loan, and even a mortgage. You might also have medical debt, business loans, or student loans that you’re still paying off. That’s not necessarily a bad thing, as debt used correctly allows us to obtain assets, create opportunities, and afford things that are important to use,…
Let’s say a friend approaches you one day, asking for a loan. Maybe they’ve had some unexpected costs or a cutback at work? Whatever the reason, you hand them $1,000. But, even though they’re a friend, you want to be smart about it, so you set the terms of the loan very clearly – they are to pay you back…
To the tens of thousands of banks, lenders, credit card companies, and financial organizations in the U.S., you are just a number. You’re a number on a long list of numbers, personally defined only by characteristics like your loan balance, credit score, payment history, and profile as a consumer. They aren’t in business to help you, serve you, or solve…
Americans are feeling the full weight of their precipitous financial situations – and it’s keeping them up at night. At least, that’s the findings of several recent studies about the prevalence and effects of financial stress from sea to shining sea. In fact, most of us have worried about money, mounting debt, and how we’re going to pay bills at…
There’s a rising tide of debt in the United States that’s threatening to erode the financial stability and promise of a bright future for tens of millions of Americans, middle-class Americans, as well as generations to come. However, it’s not another Mortgage Meltdown and real estate crash we have to be wary of, nor is it mounting credit card debt,…