The total American consumer debt reached $2.4 trillion in 2006.
Money Management: Fighting Personal Bankruptcy And Winning
Today’s culture has seen an unmatched rise in the number of people who file personal bankruptcy. With the amount of consumer debt at an all-time high, a growing number of people feel that this is the best option for them so they can start over with their finances. The only problem with this idea is that it does not change a person’s behavior. Instead, it almost reinforces the irresponsible habits and behaviors that resulted in the debt in the first place. People who find them…
Financial Planning: Get Answers About Bankruptcy Before Its Too Late
The very word “bankruptcy” puts fear into many people’s hearts. For years, the word has been equated with being destitute, being unable to pay bills and being financially insecure. But is that all that bankruptcy is about? The truth of the matter is that many people simply don’t understand what bankruptcy really is. For many people, bankruptcy is a way out of a bad situation and a hand up when they need it most. It is also a life changing experience. These questions and answe…
Budgeting Not Much Fun But Definitely Worthwhile
I dont think there are many people who enjoy budgeting. As a matter of fact, for some people, budgeting is probably as much fun as doing your taxes. The good news is that budgeting, whilst not much fun is definitely worthwhile, leading to more savings, less debt and best of all less stress about your finances.
Budgeting: The Critical Flaw That Causes Most Budgets to Fail
Discusses the failure of most budgets to account for variable or irregular expenses. Explains the monthly averaging approach necessary to offset this problem.
Budget For The Future
Tips and tricks to save for the future and build up a nice nest egg for retirement. Following these simple methods will ensure that you have a nice little cushion for yourself no matter what your income!
Cash Is King
Cash Is King is the basic principle of using cash instead of debit/credit cards whenever possible
The Bills Can Wait
Have you ever wanted anything so much that you were willing to put off your bills to get it? A lot of people have and some do it month after month. The worst part of this is that these same people wonder why they are having money problems.
I’m not talking about putting off the bills to buy groceries or pay for necessities. I’m referring to those little things that you just have to have but really don’t need.
This could range from buying a soda or cup of coffee everyday …
Money Is A Family Affair
If you are single and don’t have kids this tip won’t mean much to you. For the rest of us that have others to consider when making money decisions it just may make things a little easier.
I guess the best knock-down, drag-out fights my wife and I ever had was about money. No, it never came to blows because she’s meaner than I am. Believe me you can have a lot of fights in almost 40 years.
At some point we realized that it wasn’t accomplishing anything. We still didn’t h…
10 Tips To Make Sure Your Financial Budget Will Succeed
Youve analyzed your past expenses, put them into spreadsheets, loaded Quicken with all of your data and come up with a budget. Now what? The tough part! You actually have to stick to your budget and put your plans into action. This is easier said than done. In many cases you will have forgotten about your budget and your financial goals 6 months or a year down the road. How do you keep this from happening to you?
Heres how. Make sure you follow some of these tips below s…
Budgeting When Your Paycheck Varies
How can you decide how much you have for bills and expenses when your paycheck varies from one payday to the next? That’s a question a lot of people struggle with.
A few of the occupations that I can think of off hand that could fall into this category are waitresses or waiters working for salary and tips, truck drivers that are paid by the mile and never know how many miles they are going to get, the self-employed that their business income varies from season to season, a…
Constant Credit Card Payments
Are you trapped into making only minimum payments on your credit cards? I hope not.
Minimum payments decline as the balance on the credit card declines.
Let’s take a credit card with a $2000 balance at 15% interest to use as an example. You would expect to pay about a $40 (2%) monthly payment when you start making your payments:
By making the minimum payment only, it will take you 13 years and 11 months to pay off your credit card and you would expect to pay $2,126 …