Category Archives: Debt
How To Avoid Junk Fees When Buying A Car
When it comes to the sale of new and used vehicles, it is a seller’s market these days. Buyers are often willing to pay the full sticker price, or even more, just because the cars they want are in short supply. Shopping for a car is a lot of work, even if you enjoy… Read More »
Quick Fixes to Avoid Defaulting on Your Car Loan
As of the spring of 2023 the average car on the road is 12.5 years old; this means that our roads are experiencing the highest percentage of geriatric vehicles they have witnessed in decades. The price of cars is so expensive these days that more people are holding onto their cars until they have… Read More »
Is There Really Such a Thing as Good Debt?
An old saying goes that if you have zero debts and you have ten dollars in your pocket, you are the richest person you know. Many of us would love to live debt free, but we simply cannot afford to provide for all our necessary expenses without borrowing. Most debt free people have benefited… Read More »
Dave Ramsey Has No Idea How Broke You Really Are
You have been in debt for so long that you have probably read Dave Ramsey’s baby steps to financial independence multiple times. Now that you are a grown adult, a member of the generation on whom everyone depends, it is painfully obvious to you that “baby step” is a subjective term. For example, Dave… Read More »
What Can Go Wrong With Buy Now Pay Later?
Remote learning, homemade banana bread, and Paycheck Protection Program loans have gone the way of the socially distanced social gathering, but buy now pay later (BNPL) is one pandemic-era habit that seems to be here to stay. You can set up installment plans for online purchases using BNPL services such as Affirm, Afterpay, or… Read More »
Refinancing Your Car Loan When You Are Flat Broke
Refinancing a loan is when you take out a new loan to replace an existing loan. It often happens with secured loans, such as auto loans and home mortgages. For example, let’s say that you took out a car loan for $25,000, and by now, you have paid it down to $20,000. You can… Read More »
Is Co-Signing On Loans Fatal To Friendships And Family Ties?
Conventional wisdom says that you should not let a sociable conversation turn to the topics of politics, religion, and sex, although it seems that fewer and fewer people are observing this rule these days. Meanwhile, people hesitate to talk about their finances, even though evidence suggests that doing so can only open the door… Read More »
Consumer Financial Protection Bureau Imposes Penalties On Wells Fargo For Mismanagement Of Consumer Loans
Banks routinely charge people money to access their own money, and the less money you have, the more lenders charge you to borrow, and most of this is legal. It’s all written into the fine print of your loan agreement. When lenders fail to abide by the terms of the loans they have issued,… Read More »
Can Gap Insurance Protect You From A Car Loan Catastrophe?
Cars are virtually the only means of transportation in Florida, but many Floridians have a love-hate relationship with their cars. It’s fun to watch YouTube channels about the aspirational vehicles you will probably never be able to afford, but when you see the trust fund babies on South Beach parking one such vehicle across… Read More »
Unsurprising Medical Bills Can Still Ruin Your Day
Two new policies implemented in the past two years have provided a modest measure of relief from medical debt. First, the No Surprises Act, which went into effect at the beginning of 2022, limits the amount that healthcare providers, including physicians, radiologists, and air ambulances, among others, can bill patients for services rendered on… Read More »