Credit & Debt
There's no better symbol of our debt-addicted culture than the credit card. Businesses love them because studies show people spend 30% more when paying with plastic. The average U.S. household now sports 16 credit or charge cards, and carries $8,000 in balances, paying an average of roughly $1,000 per year just in credit card interest alone. If it seems like there must be a better way, there is.
Most of us know that debt is a dangerous tool. Scripture is full of warnings regarding its use. But there are some times when its use is even more perilous than usual. Here are five times when debt can lead us into serious danger.
Take a cue from Frosty the Snowman — snowballs can be a very good thing. Apply this principle to your debt and you too can be a jolly, happy soul.
With a new year nearly upon us, you have a fresh opportunity to make significant financial progress. Here are ten reminders as to why you should make it a priority to attack your debt load in 2007 as never before.
How much debt, if any, should you have? The Bible doesn't give a one-size-fits-all answer regarding debt. But it does offer some reasonable principles and boundaries within which we can operate.
There never seems to be any shortage of "experts" ready to predict a large-scale crisis for the American economy. But while these large-scale blowups do happen occasionally, the reality is that most financial crises happen at the personal level. Are you at risk? If so, here are 10 steps to reduce your risk level.
"Buy now with no payments and no interest until 2009!" If you haven't seen the ads yet, you surely will start to soon. While these "free money" deals may sound enticing, they are fraught with peril for the unwary shopper.
Credit card interest is a heavy anchor weighing down the budgets of millions of Americans. Here are seven steps to reducing this burden, and moving towards the debt-free future you envision.
Credit card interest is a heavy anchor weighing down the budgets of millions of Americans. Here's the conclusion of this two-part article on how to reduce this burden, and move towards the debt-free future you envision.
As you might expect, your credit score plays a key role in getting loans and what interest rate you pay. But it carries implications far beyond just borrowing money. It can also impact things like your insurance premiums — even whether or not you get a particular job. So it pays to know exactly what your credit score is, what impacts it, and how to improve yours.
With credit scores impacting more aspects of life than ever before, it's never been more important to make sure your credit history is accurate. Thankfully, due to new legislation passed in 2005, the process has never been easier.
John F. Kennedy once said the word 'crisis' in Chinese is composed of two characters: one representing danger and the other opportunity. The credit crisis of the past several months has certainly presented plenty of danger. But it may also be offering some homeowners an opportunity.
How much is too much when it comes to purchasing a home? Obviously the answer will be different for each family, but some key principles apply regardless of your income level.
Americans are flush with debt, and the problem seems to be getting worse rather than better. If you're in debt and are ready to make a change for the better, this six-step plan can help set you free.
The "envelope system" has long been considered one of the best ways to manage a budget in real time. But there are drawbacks, not the least of which is that most people these days use credit cards and other electronic transactions in addition to cash. Enter Mvelopes, the envelope budgeting system for the digital age.
The vast majority of people will never progress financially without a spending plan. If you've resisted living on a budget, it's time you seriously considered these nine benefits of creating one.
Creating and following a spending plan is a key financial discipline, without which few people ever progress much financially. But how do you implement a spending plan effectively? Austin offers six key principles from his personal experience.
If you think you'll actually pay that headline-grabbing interest rate on your credit card balances, there's a good chance you haven't read the fine print! We parse through the incomprehensible to expose what lurks beneath.
Recognizing a good credit card deal requires more than identifying a low stated interest rate. Here's a breakdown of the three elements that have the greatest impact on your interest costs.
