Reduce Your Debt - Fund your IRA!

Self help author Bob Proctor said:
If you’re thinking of debt, that’s what you’re going to attract.
It is true, if you spent all your time thinking about how much debt you are in, you may feel helpless and lose the fortitude to move forward in relieving yourself of debt.  The irony is, thinking of saving (the […]



Low interest credit cards - friend or foe?

Of course, the title of this post is an exaggeration on both sides. Credit cards are neither a friend nor a foe.  They are a merely a tool, and how you use them (or abuse them) is what will determine whether they help you or hinder you in your progress to becoming debt free.
A credit card can be […]



Great article in SmartMoney “Live Debt-Free”

I just got the new issue of SmartMoney in the mail and its got a great article called “Live Debt-Free” in it.  It has tips on debt consolidation, improving your FICO score, different types of debt, playing the 0% interest juggling game, etc.
Unfortunately, the article isn’t available on their website, but its worth picking up […]



Existing home owners - the subprime meltdown can affect you too

The blogosphere and financial periodicals have been all a twitter lately about the subprime meltdown, tightening of loan standards and skyrocketing rate of foreclosures.  Many who were able to get into a home over the last several years despite their less than perfect credit feel that because they got a mortgage already, that they have […]



Debt and Taxes - Consider your options

When analyzing their financing options or debt handling issues, many people neglect to include the tax implications of one strategy over another. While calculating and including the tax implications in your scenarios can become very complicated, the benefit from doing so can clarify which decision is most beneficial to your own situation. The level of […]



Make a budget - visualize your potential

It might seem that developing a budget should be a basic task for any working person, but many people are simply not comfortable using spreadsheets, balancing their checkbooks or creating a formal budget. Some folks aren’t disciplined enough, others don’t consider themselves “number people” and find the thought of putting a budget together daunting.
Regardless of […]



Melting your debt - the Snowball Method

Turning up the heat
As you can imagine, there are multiple approaches to reducing your debt levels, some less painful than others.  The obvious and most widely used approach is to just pay the minimum on all your cards and a little extra here or there as your budget allows.  While this approach can eventually succeed, it […]



Managing your debt - tips and techniques

Get the facts
The first step to handling any problem, and excessive debt is no exception, is to focus on facts. In regards to managing your debt, focusing on the facts means finding out how much debt you really have, what kinds of debt you have and what the monthly payments and interest costs are on your debt.  […]



The FICO Factor - Credit Score Basics

FICO Score - Friend or Foe?
One very important element in your overall credit worthiness package is your FICO score. FICO is just another word for your credit score. With an above average FICO, you have access to plenty of capital at reasonable rates. With an average FICO score you’ll likely be able […]



Set the benchmark, check your credit report

Credit reports are often regarded with fear, especially by those who have entered turbulent financial waters. But reality is never your enemy, even when it is unpleasant. In order to promote financial health, and resolve any debt problems you may have, it’s essential to have the best information possible about your credit status. To start […]