Archive for the 'Debt' Category
Debt Snowball Methodology – Pros and Cons
November 12th, 2007By: Stephen Bishop Jr.
It is safe to say that not everyone has heard of the debt snowball method. In short, it is a debt repayment method for credit cards and other various forms of debt. I hope to explain it in the simplest way possible, and also point out both its advantages and disadvantages.
Okay. Make […]
Students in Debt
November 8th, 2007By: Stephen Bishop Jr.
Today, employers are making it more difficult to get a job without having a college degree. Some do not even consider a person without one. With this said, a college degree is in demand more than ever. In order to pay for college, many take out student loans. To add to this, college […]
Debt Settlement vs. Credit Counseling
October 29th, 2007
If you’re in debt and you’ve done some searching for solutions, you’ve probably heard of these terms before: Debt Settlement and Credit Counseling (Debt Repayment Plan). While these two terms may have similar connotations, there are major differences.
Debt settlement is also referred to as debt negotation. It is the act of hiring a debt settlement company to negotiate […]
American Debt Isn’t So Bad!
September 28th, 2007There seems to be a common misconception floating around - the idea that American households have an average credit card debt of $8,000.
Reality tells a different story. The truth is, most Americans owe nothing to credit card companies, and a majority of the households that do, actually owe $2,000 or less. According to the Federal Reserves, only about 1 in […]
Subprime Borrowers - Credit Card or Mortgage Payment
June 27th, 2007The Experian Group recently conducted a study where they found out that within recent years, people were more willing to pay their credit card bills on time as opposed to their monthly mortgage payments.
The main reason for this new trend may be due to the increasing number of subprime borrowers who are less worried about foreclosing on their homes. […]
Before you use “Bill Me Later,” Read This!
June 17th, 2007
You’ve probably seen the “Bill Me Later” payment method on various internet stores and shopping sites. By using this payment option, you can bypass inputting your credit card information at checkout. Instead you are sent an invoice through the mail.
What you may not know about this payment method is that it comes with a 19.99% APR if you are […]
Compounding Interest vs. Simple Interest
June 13th, 2007If you’ve never heard of compounding or simple interest, you should take a minute to read this post. For those who have credit cards, take time to understand what the credit card companies are charging you on a monthly basis.
Compounding interest is interest that can be added to your principal balance. The interest that is added […]
Thumbs Down for CareCredit aka GE Money
March 12th, 2007Today, I received my monthly statement for CareCredit, and was surprised to see a finance charge of $1.50. I know what most of you may be thinking; $1.50 is not a lot of money, right? I agree, but my main problem with this charge is that I signed up under the terms of zero finance charges for […]
Tips to Eliminate Debt!
August 16th, 2006Here are some simple steps to reducing your debt. Most of these tips are self-explanatory and basic.
Tip 1: Stop buying things you don’t need. Can you imagine how much money you’d save if you only bought things that were necessary to your survival? Of course, it would mean you’d have a very boring life, but you would […]
