From the category archives:

Debt

“18 Months Same as Cash!” … Really?

by Joe Plemon on January 25, 2012

in Credit Cards,Debt,Dollars and Sense

Run...Don't Walk...Away from these offers!

Is zero interest for 18 months REALLY zero interest?  If you can walk a tightrope while juggling flaming torches, then maybe.  But beware — many of these offers are fraught with conditions that will make your head spin.

Best Buy, for example, is currently offering 18 months zero interest on all purchases over $429.  However, the fine print describes the tightrope: [click to continue…]

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3 Ways To Recover From Christmas Over-Spending

by Alex on December 26, 2011

in Debt,Life Planning

Even with all the advice here at Personal Finance By The Book, you still managed to overspend this holiday season.

It’s not that surprising; one-in-three Americans put their holiday on credit cards. Many more used loans, credit lines, and same-as-cash deals to pay for the big day. And with presents, eating out, travel, and increased utilities (your mother-in-law needs to take shorter showers) you’ve found yourself up to your eyeballs in bills. [click to continue…]

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Take Control of Your Debt by Setting a Time Goal

December 12, 2011

How do you feel when your bills pile up on you?  Overwhelmed?  Out of control?  Hopeless?  Even when you start making progress, do you run out of steam?   Is “getting started” something that you continually postpone? Yes, debt bondage can be overwhelming, but setting a time goal will help you take control of your [...]

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Surviving in a Sea of Debt

November 21, 2011

I read a fascinating article the other day from the Discovery Channel’s How Stuff Works website.  The article shared strategies for surviving adrift in the ocean.  While I don’t ever plan on being stranded in the ocean (who does, right?) it was still a captivating read.  I’ve never been a fan of the open waters [...]

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Difference Between Debt and Deficit

October 24, 2011

I can’t tell you how many times I’ve heard the words debt and deficit thrown around on the news this year.  It seems like every time I turned on the TV or read an economic article, people would make it a point to talk about our nation’s debt and the budget deficits.  But what’s interesting [...]

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Stake Your Debt Free Claim by Having “The Talk” This Christmas

October 3, 2011

Fred and Angela have always loved Christmas, especially shopping for their kids and grandkids … unbridled shopping, as in thousands of dollars shopping. The problem is that Fred and Angela do not have thousands of dollars to spend on Christmas. To the contrary, they have tens of thousands of dollars in credit card debt, car [...]

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The Hard Truth about Easy Monthly Payments

September 28, 2011

Vendors offer “easy monthly payments” to lure buyers into purchases they should probably be avoiding. The problem is that these easy payments do not make your life easier; they are actually a recipe for a lifetime of debt. Here is why:

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Run — Don’t Walk — From These 3 Types of Loans

September 21, 2011

Are payday loans, pawn shops or other exotic loans against your assets a good way to get some short term money?  If you haven’t fared too well in the angry economy of late, you may be turning to loans to tide you over.  Here are three that have become more popular and why you should [...]

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Which Debt Snowball is Best for You?

August 31, 2011

Creating a debt snowball is a great way to reduce your debt, but not all snowballs work the same way. As you read about these, ask yourself, “Which one is best for me?”

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Proactive Options For Getting Out of Debt

August 17, 2011

Debt can be a terrifying, debilitating and even overpowering. You feel like you can’t fight off the anxiety and feeling of entrapment, and, as the unpaid bills and statements pile up, you have difficulty thinking straight. You feel cornered and know you must act soon, but you also don’t feel like you have many options. [...]

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Should You Pay Off Your Home Before You Retire?

August 15, 2011

Picture Dave, a 52 year old father of three who plans on working until he can no longer stand to work.  He really hasn’t saved much for retirement and has a mortgage payment of $1,200 with $50,000 left on the mortgage.  He and his wife have approximately $40,000 in savings and investments and he is [...]

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Co-signing for Your Spouse – Something to Think Twice About

August 10, 2011

I discourage co-signing for two reasons: it doesn’t help the one who is making the request and it invites trouble in the relationship. The reason someone needs a co-signer is because the potential lender has determined that this particular borrower is not a good risk. Therefore, the best way to help this borrower face the [...]

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