Debt Consolidation – What You Need To Know

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If you have many different debts with different interest rates, payoff schedules, and balances, it may sound like a good idea to sign up for debt consolidation. Debt consolidation can seem appealing with the promise of a significantly lower monthly payment and a reduced interest …

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Debt is a Four Letter Word

four letter word

For most of my adult life, I never really considered debt a four letter word. You know the type I mean. Those coarse, offensive type you start using as a teenager to act cool around your friends. I always viewed debt as a necessity, a way to …

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Paying Down Debt Takes Discipline

debt

This blog post is part of the Pay Down My Debt (PDMD) blog tour, sponsored by US Equity Advantage. PDMD is a solution that accelerates debt payoff and helps consumers monitor their credit and make smarter purchasing decisions. If you’re looking to pay off debt, …

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What Happens If You Don’t Pay Your Student Loans?

debt snow ball

Students loans are beneficial to millions of students across the globe. Most needy students are grateful for this option since it enables them to complete their studies. Governments often organize student loans in many countries, and they usually have very reasonable interest rates. Upon successful …

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5 Ways to Use the Internet to Get Out of Debt

get out of debt

Debt can be stressful. Not having enough money to cover your bills can keep you up at night. The constant harassment from bill collectors may have you wanting to, or already have thrown your phone across the room. Debt can become so bad that it …

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The Best Time to Pay Off Debt

debt

Is there really the best time to pay off debt? I believe the sooner, the better. Avoiding debt altogether puts you in the best position to save and build wealth. Now that’s easier said than done. Many of us have never had formal financial education, …

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5 Ways to Pay Down Your Student Loan While in School

If you’re currently in college, you might be a little leery of your student loan situation. Maybe you’ve even vowed to worry about it once you graduate. That idea is no bueno. Loan servicing companies like FedLoan will be waiting to collect on those loans …

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Credit Card Debt – How You Can Prevent It

Please enjoy this guest post.

A few weeks ago, the Federal Reserve released a report stating Americans have the most outstanding revolving debt in history at $1.021 trillion. This substantial revolving debt consists mostly of credit card debt. According to the Federal Reserve, the annual growth rate of revolving credit is 4.9%. A reason for this growth is that consumers are getting access to more credit cards recently.

Credit cards can be a great way to build up your credit history, as long as you use them responsibly. Also, as long as you can avoid interest or late fees, you can maximize any rewards you get while you spend. On an individual level, there are easy ways to ensure you don’t become part of the national statistic and face your credit card debt.

Be Disciplined

If you are using a credit card, you should always stay disciplined not spend more than you can afford to pay off on time and in full. Consumers make the mistake of charging what they are unable to pay for with cash. But by paying your balance on time, you will avoid interest and late fees. A habit of responsible spending will ensure that you’re staying out of debt.

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Debt Myths That Will Keep You in Debt

Dealing with debt is scary, especially if you don’t know the proper solution for it. Many debt-ridden people make their financial position even more complicated by believing in myths related to debt. Unfortunately, believing the widespread debt myths put them at more risk of dealing …

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15 Tips to Take Control of Your Debt

Managing your money well can lead to many good things like building wealth, helping others, retiring early (FIRE), piece of mind, following your dreams, and the list goes on and on. These things are near impossible to achieve if you have debt hanging over your …

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