debt

Inside Greece’s Economic Problems, and Why It Matters to Us

Over the last 3 or 4 months, several news analysts have described the debt and deficit problems of Greece. Many of these same analysts decided to compare Greek debts and deficits to the United States. They cited data on Greece that shows a high and rising ratio of debt-to-Gross Domestic Product that increases the risk […]

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Consumer Debt is Down, But What’s the Real Cause?

The latest figures from the Federal Reserve show that U.S. consumer debt fell by $11.5 billion (5.6%) in February, with revolving credit down $9.4 billion — the third largest drop during the past 32 years, according to MarketWatch. This sounds like good news, right? People are paying down their debts and not relying on their […]

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What’s More Important: An Emergency Fund or Being Debt Free?

Having an emergency fund is one of the most important steps to financial freedom, but if you listen to some personal finance pundits, it’s not as important as being debt free. (Dave Ramsey, I’m looking at you.) When you’re financially free, you’re out of debt and have a 3-6 month emergency fund, but when you’re […]

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Ask the Readers: When is it Right to Get a Loan?

Taking on debt is a hotly debated topic in the personal finance world. Most people feel — including myself — feel that you should take on as little debt as possible during your life, but there are certain times when it is appropriate. There are others who feel that at no time should you ever […]

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Ask the Readers: What Debts are You Currently Paying Off?

If you’re not one of the people focusing on paying off debt in the wake of the recession, it’s time for you to join the bandwagon. Everyone — from those with only credit card bills to those with tons of debt — is starting to get their financial act together. So, I want to know […]

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Weekend Linkage: Suze Orman, Clutter and Debt Collectors

As we got closer and closer to the end of the year, you’ll start to see (and make) resolutions about 2010. Maybe you’re going to finally quit smoking, or start getting out of debt, or spend less (or more) time watching TV. Whatever your resolution, remember that it’s up to you to get going and […]

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Weekend Linkage: Good Debt, True Costs and Psychology

Is there such a thing as good debt? If you ask someone like Dave Ramsey, debt is always bad. The Mint Blog, on the other hand, examines the possibility of good debt, such as affordable housing, education and a car to get to work. Bottom line: The best kind of debt is debt you can […]

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Why Can’t the Government Get Out of Debt?

The United States Treasury will lose borrowing authority sometime in October when the national debt reaches the legislated ceiling passed by Congress. Treasury Secretary Geithner will have to ask for an increase, which Congress will grant, but he is bracing for the usual politics. Many in Congress use the opportunity to make government debt their […]

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Weekend Linkage: Debit Cards, Debt Free and Emergency Funds

While most of the Weekend Linkage posts tend to highlight stories from personal finance bloggers, this week, we’re showcasing two links from the granddaddy publisher of them all: the New York Times. I’ve ragged on the mainstream media before for not knowing how to publish useful personal finance content, but the Times comes through with […]

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Ask the Readers: How Are You Improving Your Financial Situation?

There is good news coming from the recession. Last week, we learned that American consumers have cut their their debt by $21.6 billion, the largest ever on record, with credit card usage accounting for $6.1 billion of that total. Add that to the personal savings rate hitting 6.9% in May, the highest since 1993, and […]

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Weekend Linkage: Cutting Debt, Checkbook Balancing and Bad Habits

There’s good news on the economic front: in July, American consumers cut their debt by $21.6 billion, the largest amount ever on record, according to Yahoo News. Consumers’ appetite for revolving credit, primarily credit cards, declined by $6.1 billion in July, an annualized rate of 8 percent that followed a 6.4 percent drop in June. […]

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How to Prevent Debt Using Financial Automation

If there’s anything we can learn from this economy, it’s that getting into debt isn’t necessary to live the life we need. But if you’re used to living a life of credit and debt, how can you ensure you won’t get stuck in it again? By automating your finances, you can prevent yourself from getting […]

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Ask the Readers: Are You in Debt?

Like I’ve mentioned before, now that we’ve purchased our house, our next big saving goal is to eliminate our debt. Thankfully, we don’t owe that much: only a student loan and a couple of private loans. No credit card debt, and no car payments. But I’d like to wipe out what we have, preferably as […]

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