Category Archives: Debt
How Do Your Parents’ Debts Affect Your Finances?
The personal finance industry is fond of reminding us that wealthy people have a different attitude toward money than their counterparts with fewer resources, and this manifests itself in the different financial behavior of the members of each income bracket. Being knowledgeable about the long-term consequences of your financial decisions is admirable, regardless of… Read More »
Frequently Asked Questions About Broward Home Buyer Purchase Assistance
Personal finance experts who tell you that all you have to do if you want to be able to afford to buy a house is to get your act together are grossly oversimplifying the matter. Buying a house is a huge financial undertaking, and most people are only able to do it through a… Read More »
How to Cope If the Bank Unexpectedly Closes Down Your Account
If you have a bank account, even if it is mostly empty most of the time, count your blessings. Working people without bank accounts face an uphill battle when trying to do the things that those with bank accounts take for granted, such as paying bills on auto pay, renting an apartment, or applying… Read More »
Can a Rotating Savings and Credit Association Help You Get Out of Debt?
These days, you can buy almost anything on a buy now pay later (BNPL) basis. Not only can you use BNPL to buy consumer electronics or furniture, but you can also buy groceries and personal care items that, before economic long COVID hit, used to be affordable on your income. Making a $50 monthly… Read More »
3 Practical Strategies for Paying Down Credit Card Debt
Everyone knows that the best way to pay down credit card debt is to increase your income and reduce your spending, but if you had a feasible way to do either of those things, you would have already done them. As it stands, you spend all of your waking hours on income-generating activities. Whenever… Read More »
Anatomy of a Predatory Loan
In certain contexts, telling people not to engage with predatory lenders sounds less like helpful advice and more like blaming the victim. No one would choose to take out a loan with an interest rate in excess of 100 percent unless they reasonably believed that they had no other choice. People use payday loans,… Read More »
Small Businesses and Predatory Lending Are a Recipe for Unpayable Debt
Operating a small business requires you to shift your expectations constantly. Entrepreneurship is not for you unless you can live with uncertainty. Small businesses frequently take out business loans in much larger amounts than most individuals would feel comfortable taking out a personal loan. Business owners base their decisions about how much to borrow… Read More »
Homemade Pickles vs. Debt
Living within your means is easier said than done. It is easy enough to make a budget that shows you how little money you have for groceries and discretionary expenses, but all of those personal finance experts with their six-figure incomes scolding you about stopping at Starbucks on the way from your day job… Read More »
4 Strategies for Tackling Medical Debt
Medical debt is a huge financial burden, even for people with health insurance. A single visit to the doctor’s office can leave you with bills that it takes years to pay off. The No Surprises Act has reduced the cost of emergency healthcare, but there are plenty of loopholes about which services qualify as… Read More »
Peer-to-Peer Lending
Interpersonal networks are an excellent source of emotional support and can also contribute to your financial wellbeing. “Buy nothing” clubs are gaining popularity in South Florida; participants exchange gently used household items at no charge. With a few friends and enough strategy, you can save a lot of money on groceries if each friend… Read More »