3 Reasons Why We Kissed Budgeting Goodbye

Yes, I am the author of The Secret to a Successful Budget. Yes, in that book I said, "[the budget is] an essential component of any healthy financial plan." Yes, I also said, "If I had to identify one financial habit that helped us become debt-free, it would be the budget." Yes, I did mention, "For almost seven years now we've kept a budget - even now that we are debt-free. And we still … [Read more...]

How to Earn a College Degree Faster and Cheaper than Everyone Else

The following is a guest post by Darren.  He loves to help people learn business skills that they can apply to better their lives. Check out his blog at Gain Business Skills and get free updates via his RSS feed.  If you want to submit a guest post you can get information here. Recently, I discovered a legitimate way you can earn a college degree faster and for less money than the average … [Read more...]

How Good Debt Can Go Bad

Have you heard someone say, “debt is fine as long as it’s ‘good’ debt?”  The idea of good debt is defined as using debt to purchase something that will appreciate in value.  Some view it as a tool that helps you meet your goals faster and more easily.  Here are four common sources of ‘good’ debt and how these debts can actually turn bad. Home Mortgages Paying cash for a home is very difficult, … [Read more...]

Student Loan Debt and the American Academic Obsession

Subtitle: When “Good Debt” Comes Back To Haunt Us Several months ago the Wall Street Journal reported: Americans owe some $826.5 billion in revolving credit, according to June 2010 figures from the Federal Reserve. [Most of revolving credit is credit-card debt]. Student loans outstanding today — both federal and private — total some $829.785 billion, according to Mark Kantrowitz, publisher of … [Read more...]

Start a Budget and Open the Door to a Debt Free Life

While I’ve made my fair share of financial mistakes and missteps, by the grace of God, our family has also made a few wise decisions. Right now my wife and I are positioning ourselves to pay off our house in less than 6 months.  We’ve done this while my wife has stayed home (for the last five years), and we’ve lived on less than $50,000 annual household income.  Oh, and we didn’t miss out on of … [Read more...]

How to Graduate from College without Student Loan Debt

There is something called the ‘student loan myth’.  The student loan myth is the assumption that it is impossible to graduate from college without student loans.  Those who believe this myth think that if they are going to go to college, they MUST get student loans.  This type of default thinking is financially dangerous. The Danger of Default Thinking Default - a : a selection made usu. … [Read more...]

Should You Consolidate Student Loans Or Pay Them Off?

Second only to the mortgage, the student loan is the American debt of choice.  Only a few loans are righteous enough to carry the title – good.  A student loan is typically one such loan.  As a result, people often like consolidating mortgages and consolidating student loans.  The negative result is that the student loan becomes not just a part of life, but a part of who we are.  Quite … [Read more...]

Student Loan Payments When Poor

Every Friday I take a reader’s question and spend some time answering it.  Our question today was submitted via my reader survey.  If you want to ask a question contact me. How does one pay back student loans when they can barely make rent and buy groceries? The reason most financial folks call student loans “good” is because of their flexibility.  And in this case, that is a good thing for … [Read more...]

Avoid $13,160 in Interest Payments & Get a College Degree

Too many people are playing financial catch-up. They made a dumb mistake or several dumb mistakes that unintentionally put them years behind on their current financial goals. In this upcoming series will look at the things you (as a young adult) can decide now to avoid YEARS of financial regret. Here's the topics we'll cover: Decide you will pay for and save for as much for … [Read more...]