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 […]
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.
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 […]
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 […]
My 14 year-old, like most kids, loves to spend money. I like having control over that spending and I do this by providing her cash because I can limit the damage. But sooner or later she’s going to get a credit card like her older siblings. Here are the tools I used with the older […]
When you are facing a pile of debt that you just can’t seem to shake it can be tempting to look toward your retirement accounts as a way to escape. Retirement is a long time off and your debt impacts your life now, so why not withdraw money from your nest egg accounts in order […]
We spend a lot of time talking about how to get out of debt on this blog. But it’s far more important to avoid getting into debt in the first place. How do you get into debt? My experience tells me there are 9 main reasons. Let’s examine these debt traps and discover what to […]