Did you read about the couple who are being forced to pay off their deceased daughter’s student loans? Not only does this couple have to deal with the heart-breaking grief of losing their child, they are ruined financially as well. That’s because they have to use up their life savings to pay off her debts. […]
Debt And How To Deal With It Related Posts
No matter how responsible you are, you could easily find yourself saddled with impossible debt. If so, it can be a frightening situation. Here you’ll find posts to help you systematically get out of debt and stay debt free for the rest of your life.
Is Your IRA A Source for Short Term Borrowing?
If you need to do some short term borrowing, you might be tempted to tap your IRA for that cash. It’s there. It’s yours. Why not use it? As you’ll see below, there are plenty of reasons to think twice or three times before moving forward with this scheme. How to Borrow From Your IRA […]
What Is A Credit Line?
A credit line is like a credit card in many respects. With it, you have access to cash (within fixed limits) if you need it. The notable differences are that the interest rates on equity lines are usually far lower than the rates credit card companies charge. Also, the amount you can use is typically […]
How To Pay Off College Debt In Three Years – Seriously
If you are in debt, it’s very smart to focus your energy on getting out of it. You’ll have a lot more financial freedom once you no longer have to make that monthly payment. And let me indulge the math nerd inside us all. If you can pay off a student loan that costs you […]
5 Unique Ways to Slash Your Cost of Debt
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 […]
Does Your Debt To Income Ratio Matter? Nope
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 […]