Search Results for: blog 5 ways to avoid debt

Debt and Marriage: How It is Tough to Love When You Owe

Many couples enter into a marriage with debt already in hand. Others accumulate debt together. Either way, nurturing a loving relationship can be hard when debt is hanging over your head. In fact, according to a study by Jeffrey Dew at Utah State University, couples who reported disagreeing about finance once a week were over 30 percent more likely to get divorced than couples who reported disagreeing about finances only a few times a month. Another inference can be made from this study: there is a whole lot of disagreement about money out there. Debt is a source of contention. … Continue reading →

According to a New Report, Household Debt is Increasing

Maybe it is because basic things required for living costs more these days. Food, healthcare, utilities and clothing have all seen a rise in prices. Maybe it is because we simply haven’t learned from the last economic crash. While home prices are slowly rising, so are sales of the latest electronic gadgets that sell out hours or days after being released. At the same time, U.S. income has fallen overall by 1.5 percent. Whatever it is, a need study has confirmed what may be surprising to some: household debt has seen the largest rise since 2008. How much household debt … Continue reading →

Three Ways to Avoid Holiday Debt

It is easy to start racking up the debt during the holiday season. There are many demands on our money, such as holiday gifts, special events, travel costs, food, decorations, and other entertaining costs. We often get carried away when we spot the perfect gift or want to make it the best season ever. As you are planning, cooking and shopping, you might want to use the following strategies to avoid holiday debt. Start with a Holiday Budget In order to control holiday spending instead of letting holiday spending control you, you will need to set a budget. Start with … Continue reading →

Three Home Businesses that Can Get You Out of Debt

To speed up your debt recover, consider starting a home business. It can help you earn extra income that can be applied directly to paying off your debt. Best of all? Most home businesses can be done at home, on your terms, and take as much time as you want to spend. This makes home businesses ideal for retirees, stay at home moms, stay at home dads, and even students. In fact, any one can start a home business to get out of debt. When selecting a home business to pursue for the goal of getting out of debt, it … Continue reading →

Should You Take A Personal Loan to Pay Off Credit Card Debt?

People take out loans for many reasons such as buying a home, buying a car, or getting an education. Personal loans are also available, and sometimes people wonder whether it is a good idea to take out a personal loan to pay off credit card debt. There are many factors that will impact whether taking such a loan is the right thing for a person to do. Exploring these factors can help you to get a sense of whether it might be the right choice for you or something you can avoid. There are other ways to pay off credit … Continue reading →

Ways to Spend Less in the New Year

If your New Year’s resolution is to cut back on spending, then now is the time to gather tips on how to look for the best deals. After all, spending less doesn’t mean avoiding stores all together. Rather, the goal is to get what you need for the least amount of money. So, how can you accomplish this? Here are some money-saving tips: 1. Look for items in the clearance section. However, don’t buy something just because its price is radically reduced. If you don’t need the item, it’s not a bargain. Instead, you are simply filling your home with … Continue reading →

Ways to Keep Money in Your Pocket

Right now my email inbox is full of coupons for free food at various national chain restaurants. The offers for free appetizers and desserts are extremely enticing, but I need to purchase an adult entree to get the gratis grub. Whereas I would love to chow down on my favorite spinach/artichoke dip or cap-off a meal with free bread pudding, I wouldn’t even consider eating out, if it weren’t for the coupons. What’s the sense of saving five bucks on chips and dip or chocolate cake when I have to shell out $10 to do so? With the holidays fast … Continue reading →

Oh The Ways We Get Into Debt

There seems to be an endless list of ways that we can get ourselves into debt. In the interest of helping others to avoid going into debt, I thought that I would share some of the things that people do that lead them into debt, debt, and more debt. Knowledge is power, and perhaps knowing about these debt traps can help you to avoid them. One way that people get into debt is by doing someone else a favor and co-signing on a loan with them. Sometimes having a co-signer is the only way that that person will be given … Continue reading →

Getting Out of Debt: A New Attitude

The idea of completely getting out of debt takes some getting used to. After all, most of us “need” to carry mortgages and car payments. If we want to go to college, we have to take out loans. Many of us struggle with credit card debt just to cover the necessities. As a family, we made a decision that we wouldn’t carry any debt that wasn’t necessary. Now, after Financial Peace University, we have learned that no debt is really necessary. That is quite an adjustment. I look around at all of the things that we would like to have, … Continue reading →

Three Ways to Earn Extra Money for Christmas without Getting a Job

It will be here before you know it. Already my kids are making their wish lists, and the stores are starting their holiday sales. As I mentioned before, our Christmas tree is more like a “couple of sticks with some green toothpicks on it,” as my son describes, and there is extra tithing and charity. All of these things aren’t normally in the budget. That is why we are employing some strategies to earn a little extra money this year. Some effort now will help avoid great debt later. Because our schedules are already packed tight with kids and work, … Continue reading →