Debt and the Opportunity Costs of Not Paying it Off

When you make a decision to get into debt, you're also making a decision not to do many other things. Here are the three biggest opportunity costs of not paying it off. Opportunity Cost #1 - Your Future Retirement This cost will affect the day-to-day existence of possibly a third of your whole life. Some people may think that since retirement is so far away, they don't have to be concerned about … [Read more...]

4 Tips to Pay Off Your Debt ASAP

I don't think I know of anyone who likes being in debt. Do you? If you, or someone you know are trying to get out of debt, here are some ideas that will help. Prioritize The first thing you should do is figure out all the debts you have. Which debts have the highest interest rates? If it's from a credit card, call your creditors and work on getting the rate reduced. If they won't do it, tell … [Read more...]