According to report findings, many consumers are not financially prepared for a disruption to their primary source of income, even as unemployment remains low. Nearly 37% of households report that they could not cover expenses for longer than one month, even with accessing savings, borrowing money, selling assets, or seeking help from family and friends. …
Most people that write about debt and seniors want to provide accurate information. Sadly, many do not. Some articles on the internet do more harm than good. A good example is an April 4, 2022 article on the website Care.com, “Debt forgiveness for seniors: 5 strategies to consider.” The article starts fine, laying out the …
The highly respected and well-regarded financial expert Ray Dalio had published a video back in 2018 about his Principals for Success. What utterly amazed me was how much he says also applies to people trying to get out of debt or dealing with bad debt. I’ve embedded the video above, but here are the key …
You have debt. But you’ve also got a stash of cash in your 401(k). If you’re feeling overwhelmed by high-interest credit card balances, a student loan, and/or an auto loan, you might think taking money out of your 401(k) is a good way to pay down that debt and get it under control. But is …
Managing personal finances. It can be a challenge for various reasons. Regarding personal finance management, your goal might be to make positive changes to your financial circumstance and live more comfortably. The question is, how can you begin to manage your personal finances more simply? And which steps can you take to stay on top …
If the goal is debt reduction, paying off debts in order of the smallest amount due to the largest amount due—gaining momentum as each balance is paid off—can make sense for some people. Once the smallest debt is paid in full, apply the amount that was being paid on that to the next largest debt, …
Nothing beats the feeling of freedom you can achieve by being debt-free. Yet the average American is carrying $92,727 in debt. Paying off debt—whether it’s student loans, credit cards or more—can be a challenge. Everyone’s financial situation is different, and this list is not exhaustive of all existing strategies, but here’s a look at some …
Over the years, I’ve written many books to help people with money issues and worries. How to Get Out of Debt Without Getting Scammed and What to Do if You Have Been Click Here to Download This Book It’s tough enough to have to face financial problems, but how do you make sure you can …
I came across the DebtKid blog and it makes for a rollercoaster read of the debt recovery process. I’m reading this old post, Breaking Point, and wish I was there to hug him. You see, he’s just living through the detox of bad debt right now. He feels like a loser, a screw-up, and a …
Question: Dear Steve, I’m an RN with a decent income 100k annually. I am trying to get approval for a mobile home loan. Denied by the lender due to a low score of 600. I have 2 lates from Ford Credit due to CALIF wildfires last year. Displaced from burnt home. My cc debt is …