Many people want to be out of debt. They talk about it and they may even take steps toward the goal. They may make up their minds that they will never have debt (again) and that may become their mantra. They may have the best can-do attitude out there. Yet they may still fail. Why? [...]
Dan Ariely, a professor of Behavioral Economics at Duke University, says that studies show that when people pay off loans, they pay off the small loans first rather than the loans with the highest interest rate. Studies also show that even when people have debt, they keep a lot of cash. Both of these in [...]
As we head into the holiday season and start looking for gifts to give to those hard to buy for people, gift cards stand out as easy gifts that everyone enjoys. But if you’re thinking of giving a pre-paid gift card that’s branded with a credit card logo, you might want to think of another [...]
My last “real job” where I worked full-time for someone else was a mess. There was sexual harassment, bullying, unfair hours and demands, and all sorts of other foolishness going on. I was young and hadn’t yet saved up a large emergency fund, so leaving wasn’t possible unless I had another job lined up. Not [...]
I knew it was bound to happen, but I’d been hoping that somehow I’d avoid it. Despite having excellent credit and no debt, we got a letter from one of our credit card companies dropping our limit from $10,000 to $300. This was done because of “inactivity” on our account, which really translates into the [...]
By Maggie Ellis It is widely taught in financial education that there are only two kinds of debt that can be considered “good debt”: A mortgage and student loans (as long as they aren’t beyond your ability to repay comfortably). We’re always taught that it’s okay to go into debt to buy a house or [...]
If you spend any time in the frugal/budget world, you’re likely to come away with the idea that you should reject all fees. If it means switching banks, changing how you pay for things, switching airlines, or dumping credit cards, we’re taught to shun all fees. We’re taught to dodge anything that reeks of nickel-and-diming [...]
I know, I know. I said I’d never buy a Wii. Funny how never comes around sooner than you think. A few weeks ago I stayed with some family members who have a Wii and I realized just how much fun one could be. I was used to the passive gaming experience where you sit [...]
By Terry G. I love free money. I thought that others would also love free money, but that doesn’t always seem to be the case. There is a lot of free money out there that almost anyone can claim with a bit of effort, but most people don’t. Banks: I remember when I was growing [...]
A friend of mine who, like me, has always lived a debt free life recently ran into a perfect storm of disasters. He was diagnosed with an illness and, despite having good medical coverage, ended up with bills that threatened to eat up much of his non-retirement savings. As if that weren’t bad enough, he [...]
