You can get into debt for various reasons like borrowing money for an expensive renovation, unexpected medical emergency, or because you needed to make a major purchase. However, when you find yourself in a situation when your debt is a threat to your financial security, then getting out of debt becomes a priority. In this…
If you are paying off monthly dues from your credit card bills, student loans, and car loans, then you’re not alone. In fact, according to the latest record of household debt and credit from the Federal Reserve Bank of New York, the total household debt as of the third quarter of 2019 rose to $13.95…
The unpredictability of life can make it exciting for a lot of people. Since you don’t know what will happen next, you’ll be looking forward to the things yet to come. But on the other hand, this unpredictability can also be stressful. An unexpected medical need, an urgent home renovation or being involved in a…
Sometimes life throws you a few surprises, from health issues to a much-needed repair in the home. Unexpected bills can make finances tight, often pushing financial demands beyond what is available. If debts spiral, unpaid bills can force finance companies to employ the services of debt collection agencies. This is a stressful experience for most,…
If you’re worried that you might not be able to borrow enough to purchase your dream home with a traditional mortgage, you might want to to consider opting for a guarantor mortgage instead. A guarantor is usually a parent or family member who is willing to put some of their money or financial assets forward…
You might be forgiven for thinking that being in debt almost seems unavoidable when you consider how much of a struggle it seems to just make ends meet. When an unexpected bill crops up, that’s the sort of pinch point that can easily drive you into the red! One of the fundamentals of good money…
You might have heard some old advice that it’s better not to take on debt. Pay everything in cash. Sure. It might help you sleep better at night knowing that you don’t owe money to anyone. Yet at the same time, this is hardly practical advice. Think about it – if you had to save…
Recently I read that nearly 80% of American people are living in debt. Four out of Five. Imagine that. It made me think that being financially independent is a commodity that not many of us can afford nowadays. It’s par for the course to be in debt it seems. Young Americans who are debt-free are…
