Articles on Debt Management

Goal Setting: Getting Out of Debt Once and For All

It is easy enough to say that you have a goal of being debt free in “x” months or years. You have crunched the numbers, and your plan is realistic and achievable. But why is it so

Do we really need help with getting more debt?

Today a new rescue program called the Term Asset-Backed Securities Loan Facility (TALF) was announced by the Treasury and Federal Reserve to support owners of securities backed by

Funding your 401(k) when you're in debt

If there are two pieces of financial advice that get hammered more often than any others, they're "Get out of debt" and "Put enough in your 401(k) to get any corporate match." Wi

Sexually Transmitted Debt: Eewww!

You can contract more than just disease by sleeping with the wrong person…watch out for sexually transmitted debt, which can creep into your sex life while you remain blissfully un

What's the big deal about banks refusing to lend?

Anybody--but especially frugal people--can be excused for thinking that the whole credit crisis thing is being overblown. After all, we get along without debt. In fact, we str

Peak Debt

Is there a limit to how much Americans can spend? Clearly there is: All they earn, minus savings and service on their existing debt, plus new borrowing. Since the Bureau of Econ

How does the Fannie Mae and Freddie Mac bailout affect you?

Yesterday Henry Paulson decided to use the power given to him by the housing bailout bill to officially take over Fannie Mae and Freddie Mac. This is a decision that has a huge im

We Are Our Own Worst Enemy

Today my friend sent me an article titled "We Have Met the Enemy" by Knight Kiplinger, the Editor in Chief of Kiplinger publications. It is a blunt article pointing out that Americ

Knowing Your Triggers Can Prevent Emotional Spending

They don't call it "retail therapy" for nothing. Uncontrolled, emotional spending has a lot in common with other addicitons and eating disorders. One of these shared traits is the

Your Interest Rates Are About to Go Up

Have good credit? A low APR on your credit cards? Always pay your bills on time? That's not going to stop your credit card company from jacking up your rate whenever they feel like

Friends Don't Let Friends...

In the past few decades the Ad Council has been running an ad with the tag line "Friends Don't Let Friends Drive Drunk". This ad campaign has been instrumental in decreasing drunk

Self-sufficiency, self-reliance, and freedom

Self-sufficiency is producing the actual stuff you use--your own food, your own clothes, etc. It's not a common lifestyle. Most people chose instead to follow the path of self-re

What if foreigners quit lending the US so much money?

One of the bugaboos of the financial doom-and-gloom crowd is the worry that foreigners (China in particular, but also oil exporting countries in the Middle-East, and others) might

The Bailbondsman Approach: Why Some Of Us Stay Broke

The government is letting people think that it's okay to make bad choices. The Treasury is rewarding bad behavior and the consumer is learning nothing except to keep up the

Dealing with Nasty Debt Collectors

You may (or may not) be delinquent with a debt payment, but debt collectors don’t have carte blanche with regards to how they can hustle the money from you. Some can be rude, make

What's the Best Way to Get out of Debt?

Debt is the hottest topic on personal finance blogs around the world. Why? I would venture to guess it is because so many people are drowning in it

Retirement on the installment plan

Among the fraction of the population who manage to put money aside, many view their investments through the lens of retirement.  They've got a number in mind--call it $X--enoug

Credit Counseling: When you Need it and When you Don't

So you are up to your eyeballs. Drowning in debt, expenses, and struggling to keep your head above water. You have been reduced to the life of a monk and are still making no headwa

Debt Discovery: The Ties That Binder

It's amazing how many of us are business people -- dealing with budgets, liabilities, profit, revenue and loss -- who make questionable decisions with our own finances. What

Tips for Increasing Your Financial Literacy

A recent CNN article titled "Americans are 'financially illiterate'"