How to Deal with Debt Collectors: Your Consumer Rights

Money has been tight, there’s no doubt about it. The Great Recession has taken its toll. But even before a financial crisis shocked the economy,

Do Low Interest Loans Change the Rules For a Mortgage?

A lot of different “rules” are passed around regarding the size of a mortgage that a person or a family should take out in order

Debt Isn’t Required

Like a lot of people in my twenties, I spent much of that decade in a rush to saddle myself with a lot of debt.

Need Help With Payday Loans? How To Escape The Cycle

I had a long conversation with a reader whose brother seemed to be caught in an endless cycle of payday loans. He works about thirty

Should I Cosign a Loan?

I get this type of question all the time. A family member or a friend is trying to get a loan for some reason. Those

Does an Extra Payment Have an Impact On Your Mortgage?

Let’s look at a “typical” mortgage. Right now, the average American mortgage is $235,000, so let’s use that as our baseline. The Seattle Times reports

The Challenge of Lifestyle Deflation

It’s a pretty common story. Boy (or girl) wants something. Boy discovers that there’s easy credit available. Boy convinces self that they can just pay

Examining Two Credit Card Repayment Strategies

Kim writes in: My dad told me that the best way to pay off a credit card is to pay it all off at once

A Seven Year Old Learns About Credit Cards

Here’s some food for thought for those of you out there raising children and hoping to teach them good lessons about money. I was at

Making the Rent

Financial meltdowns often start with a small thing – the figurative straw that breaks the camel’s back. I’ve read stories from readers about the many

Don’t Go Into Credit Card Debt For Special Events

When Sarah and I were married in 2003, we had a fairly low-cost ceremony. We rented a local Knights of Columbus hall for the reception,

Thoughts on Interest Free Credit Cards and Other Debt

Karen writes in: “I have an offer from a credit card company in which they pledge 0% interest for 15 months on a balance transfer.

The High Cost of Low-Interest Debt

Lately, I’ve seen many emails from readers asking me whether or not I think a particular debt is “okay” now that interest rates are so

The Case for Debt Freedom

A couple times a week, I’ll get an email from a reader asking some variation on this question: If I can refinance my house at

A Different Way of Thinking about Your Debts

If you take out a $200,000 loan for 30 years at 4.5% interest, how much in debt are you? Some might argue that you’re only

Retirement Planning: Contributions & Debt Repayment Tips

A few weeks ago, I put out a call on Twitter and on Facebook for detailed posts that people would like to see. I got

Improve Cash Flow By Paying Off Low Interest Debts

Quite often, when I write answers to reader mailbag questions, I encourage people to keep pushing hard against their debts no matter the interest rate.

A Little More Than the Minimum

Carolyn writes in: For the longest time, I’ve been making larger than minimum payments on all of my debts. I got the idea from Suze

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