Everyone loves talking about getting out of debt. It's easy to imagine the benefits. The trick is realizing that this lifestyle is actually attainable. It's a very real choice.
The most credit savvy among us have been able to use credit cards to their benefit in order to wisely and optimally save money even while charging on their cards. If you are carefu
Debt limits freedom. It's as simple as that. The process of getting out of debt first starts with acknowledging that it really is a problem. This simple act will radically impro
This article has its roots in an article I wrote some time ago that used the terms wage slave and debt peonage—terms that some people objected to. Those making free choices aren't
One of the most common questions over on the Wise Bread forum is some variation on, "I have $X in savings but $Y in credit card debt. Should I use the savings to pay down the debt?
I try hard not to carry a credit card balance, but I know a few people who ignore the fact that their balance is building up to unmanageable levels. I personally feel that it's har
Preventing a collapse of the financial system is part of preventing a depression. However, the shorthand term for this--getting the banks able and willing to lend--is misleading.
Starting a business can easily become a money pit. So for those of you thinking about launching a new venture, what financing options do you have? Well, there's the possibility
Credit cards are fun for the whole family, until the bills start rolling in and you are expected to hand over your hard-earned money for the stuff you bought on plastic. In this we
We're subjected to constant barrage of unhelpful advice to the effect that what the economy needs is more spending. (The stimulus program is one piece of this.) It's kind of unde
The economic stimulus bill has been hotly debated, not just in Congress but also on Main Street. Now that we know what will be getting funding from this package, many are wondering
On Friday both the House and the Senate passed a new $789 billion stimulus package as a continuation of the efforts by the United States Government to jumpstart the economy. A sig
The other day as I was going through my monthly process of paying bills, I noticed one of my credit cards suddenly had an increase in the minimum payment by double. Additionally,
Forget about the fact that it's a recession. What you do now determines where you will be when the graph trends up again. What if you stopped dropping duckets like you dropped weig
Today a new rescue program called the Term Asset-Backed Securities Loan Facility (TALF) was announced by the Treasury and Federal Reserve to support owners of securities backed by
If there are two pieces of financial advice that get hammered more often than any others, they're "Get out of debt" and "Put enough in your 401(k) to get any corporate match." Wi
Anybody--but especially frugal people--can be excused for thinking that the whole credit crisis thing is being overblown. After all, we get along without debt. In fact, we str
Is there a limit to how much Americans can spend? Clearly there is: All they earn, minus savings and service on their existing debt, plus new borrowing. Since the Bureau of Econ
Yesterday Henry Paulson decided to use the power given to him by the housing bailout bill to officially take over Fannie Mae and Freddie Mac. This is a decision that has a huge im
Today my friend sent me an article titled "We Have Met the Enemy" by Knight Kiplinger, the Editor in Chief of Kiplinger publications. It is a blunt article pointing out that Americ
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