Debt Relief

If you are in debt, especially credit card debt, you might be so focused on getting out of debt that you overlook one of the most important steps – reduce your cost of debt first. The reason this is important is because if you reduce your cost of debt, you can get out of financial [...]


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Besides the emotional trauma, divorce is frightening from a financial point of view.  Everything changes and many people find they have to reinvent themselves after the split. On top of that, some people have to deal with problems they never had before like budgeting, getting out of debt etc. Here’s a letter I received last week [...]


A faithful Wealth Pilgrim reader asked me recently what a good debt to income ratio is. I did a little research and come up with an answer which I will share with you. Then, I want to explain why it doesn’t matter. First things first. What is a debt to income ratio? Your debt to [...]


What do you do when someone you care about is completely out of control with their finances? Maybe they’ve run up lots of debt and can’t find a way out.  Maybe it’s not the first time this has happened.  Maybe you are tired of bailing them out over and over again but you don’t want [...]


Lending money to your kids is usually a very bad idea for both parties concerned. This is easy to say and hard to execute – I get it.  None-the-less, let’s consider how very destructive this can be by reviewing a real life example. Terry and Nicole were retired and happy. They had plenty of income from [...]


If you feel uneasy about your finances, it might be because you don’t have enough emergency savings. A sudden bout of unemployment or an unexpected major expense could turn anyone’s financial stability into a horrifying nightmare. The good news is you can remedy that problem faster than you think. 1. How Much There are dozens [...]