The credo preached by just about every personal finance writer is that debt is an enemy that must be eradicated before you can think about building wealth. But there’s a reason many rich people have no problem with taking on more debt to finance new ventures. Those who think big and take manageable risks tend to be the biggest winners. [More]
paying off debt
Online Tools That Show You The Benefits Of Paying Off Debt
By 11.25.11
The longer debt hangs over you, the easier it is to become used to it and disregard the damage it’s causing. In particular, credit card debt can nail you the hardest if you ignore high interest rates while paying the minimum balance every month. [More]
Consumerist Videodrome #2: The "New Moon" Felons
By 12.7.09
Is loving New Moon a crime? It is, if you accidentally tape it during your sister’s surprise birthday party at the movie theater. Plus, how you will end up paying for Hulu after the Comcast/NBC merger, Oscar Meyer shaved meat, subprime loan gangstas, and a pacifier you might choke on. Now that we have a video show, what should my signoff be? Leave your thoughts in the comments. [More]
Getting A Bonanza: Pay Off Debt Now Or Over Time?
By 7.24.09
I am going to be coming in to a large amount of money and I should be able to pay off some of my mounting credit card bills, over $15K. Should I pay it off all at once or space out the payments over 3 or 6 months? I would like to buy a house in a year and want to get the biggest gold star on my credit report I can.
How Long Before That Debt Falls Off My Credit Report?
By 7.17.09
Is a true that after 7 years your bad credits go away?
Pay Off Debt Like You're Training For A Marathon
By 6.8.09
How is paying off all your loans and becoming debt-free like training for a marathon? JD, a personal finance blogger who is training for a marathon shares his tips. For instance, running first thing in the morning is a lot like the idea of “paying yourself first.” To wit:
Paying Cash-Only, Family Spends $1,800 Less
By 9.4.08
By switching to only paying for everything in cash, as we wrote about here, one family ended up spending 24% less in a month, $1800 less. To get there they cut up 8 of their 9 credit cards. The last one they froze in a glass of water in case of emergency, another technique we recommended before. “I don’t have enough money in my purse to go buy this new dress or this new shirt that I want, so you don’t even step foot in the store, because you don’t have the money…You don’t make all those extra purchases that you really don’t need.” Marissa Farhat told Good Morning America.
