Debt Handling – Debt Consolidation Pros and Cons
Many people find that over time they have accumulated more debt than they can repay. When that happens, there is a reinforcing downward spiral. The inability to repay the debt leads to additional interest charges and penalties, making it still harder to repay the amount owed. One common suggestion for breaking this vicious circle is [...]
Plan Your Way Out of Debt
Trying to get out of debt without a well thought out plan is like trying to find your way through a city that you’ve never been in before without a map. There are certain steps that everyone must take if they want to get out of debt and stay out of debt. First it’s important [...]
Is Goal Setting a Key to Debt Reduction?
Is goal setting a valid strategy to reduce debt? Personal financial debt can seem overwhelming at times. It can cause much frustration and stress in our lives. In fact, financial problems are one of the leading causes of divorce in this country. Debt can also contribute to poor health. There is a way out of [...]
What Credit Card Companies Know That You Don’t
Credit Card companies frequently offer what appear to be fantastic deals. Too good to be true deals. Must-sign-up-right now deals. They do this based on their knowledge of human behavior, because they know that if they present certain offers, people will sign up and do things which benefit the credit card companies rather than the [...]
When Good Debt Is Bad Debt
Financial advisors have long advised that some debt is “good debt” and some debt is “bad debt”. Some examples of bad debt are credit card debts, department store credit card debts, purchases of expensive “toys” like boats, big screen TVs, stereo equipment, videocameras, and so on. It doesn’t make sense to go in to debt [...]
