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Pros and Cons of Paying Down Debt

I know what you are asking: “How can there be any cons related to paying down debt?” If you are not careful, there are several ways you can dig yourself deeper into debt trying to pay loans and other bills. In a previous blog I addressed the option of cashing in retirement accounts and other investments to pay down debt. While there are a number of benefits to doing this, there are also quite a few downsides as well. In fact, the Department of Labor went public recently warning Americans that making permanent withdrawals from their retirement accounts is not … Continue reading →

Digging Out of Debt

With gas prices creeping to the $5 mark, I have a feeling that many of us are going to be cash poor very soon. That’s if you aren’t already digging out of debt from losing a job or getting your hours reduced when the economy first started taking a nosedive. Getting out of debt can be very challenging. While some people, whose debt has grown out of control, turn to consumer credit counselors, others take matters into their own hands. Studies show more and more people are borrowing from retirement accounts in order to pay down debt. The problem with … Continue reading →

Sticking To Your Holiday Budget

As we head down the final stretch to Christmas Day, stores are pulling out all the stops to lure in last-minute shoppers with sensational seasonal sales. If you have gotten this far sticking to your holiday budget, don’t be tempted by these late season offers. Often, they don’t save you as much money as you’d think. Procrastinators on a budget should stray from big-box retailers during the final days leading up to Christmas. To preserve your budget, head over to the local Dollar Store for economical gift ideas. For example, if you are looking for a last-minute present for your … 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 →

Paying Down Debt

Who doesn’t want to live a debt-free life? Shelling out hundreds of dollars in interest each year on car loans, credit cards and mortgages is not exactly the financial situation most of us strive to be in. Paying down debt is an arduous process, but it can be made tolerable if you follow a few simple steps: Step #1: Carefully examine the details of your debt. Look at your balances and APRs affiliated with credit cards. In addition, review mortgages or other loans to fully understand the financial parameters you are working with. Step #2: Make a list. Write down … Continue reading →

Evaluate Your Debt Situation

Is debt one of your four letter words? Do you use credit entirely to your advantage instead of letting it control you? My parents taught me to save for what I wanted and buy with cash. My parents taught me that credit cards were useful tools and shouldn’t be used beyond what could be paid off each month. Credit cards are awesome things. You can gain so much from responsible credit card use. You can earn airline miles. You can earn points to buy items. You can earn a percentage of your balance so you end up paying off less … Continue reading →

Repaying Your Debt

You have some extra money, or you’re cutting back so that you can make some progressive financial changes in your life. Congratulations! Now comes the confusing part. Where do you put the money? If you have debts, take a look at their rates of interest. You may have everything ranging from a zero-interest loan from family or a bank to a credit card that charges upwards of 18% in interest. These debts are not created equal. Ideally, you want to get rid of those that are costing you a lot of money in interest. Take a look at your debts … Continue reading →

Seeking Financial Help

When you are desperately looking for ways to save money, it is often hard to see the forest through the trees. What’s more, wishing that trees grew money isn’t going to help your situation. If you are drowning in debt and are about to hit rock bottom, you may be overdue for some solid financial help. Believe it or not, assistance is not hard to find. In fact, most people don’t realize that there are almost as many ways to find debt relief as there are credit card offers that flood your mailbox. The trick is finding the option that … Continue reading →

Making Money From Old Christmas Cards

Many scrapbookers know that repurposing holiday cards is a real money saver, but did you know you can earn cash by recycling your old Christmas greetings? Actually, you can help those less fortunate when you donate your seasonal salutations to certain charitable groups. For example, St. Jude’s Ranch for Children is synonymous for its work collecting used Christmas cards and transforming them into works of art which are then sold to generate money for the group. The non-profit accepts used Christmas cards until the end of February, then it hands them over to its benefactors–children who come from abusive homes—-and … Continue reading →

Saving Money on New Year’s Parties

Even if you are planning a potluck for your New Year’s Eve bash, hosting a get-together of family and friends is going to cost you. Fortunately, there are ways you can serve up a memorable shindig without breaking the bank. The key is to employ some basic tips on cooking for a crowd that won’t sacrifice flavor for frugality. For starters, you’ll want to invest in affordable appetizers. If you can get guests to fill up on snack food, they will be less likely to devour five helpings of the main course. Some affordable snacks include: chips and salsa, cheese … Continue reading →