Debt & Credit
Wed, 2010-01-06 11:55 | 
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I love this calculator!
"What is the impact of making extra payments on my debt?" calculator in the debt section of this website. It is amazing what just an extra $25-50 a payment can do to reducing your debt. I think people sometimes feel too overwhelmed but this calculator really helped. Just taking baby steps consistently really makes a difference. Hopefully, I can tackle my Christmas spending balance :)
Pay Attention to the Fine Print on your Credit Cards
If you are like many Americans, you get the credit card statement, look at the minimum balance, and grudgingly send off the payment.
You haven't paid much attention to the fine print on the back showing your APR (Annual Percentage Rate). Nor have you done any real analysis on how long it might take to pay off the balance if you continued to make the minimum payment.
You no longer have the luxury.
Stop! Before You Pay with a Credit Card this Holiday Season...
You've convinced yourself you are going to "bite the bullet" and make that expensive holiday purchase for the big screen TV, Kindle or new car - on credit.
Like many Americans, you can't pay cash for it because your disposable income is already too tight. And you are worried about your job and the economy in general.
In the past, you've run up the credit cards, refinanced the home multiple times, and paid off most of some of your credit cards - and felt some temporary relief.
Whose national debt?
Do you have $38, 948 (and counting)? The government thinks so. It's your portion of the national debt. See http://www.usdebtclock.org/
Do stimulus packages do more harm than good?
I found this site the other day www.Stimulus.org which keeps track of all the government stimulus plans and how much has been spent so far. I can't even get my mind around these numbers. I'm not sure they can either as they choose to show the numbers in billions. For example Government Guarantees show $1,809.58 (in billions) which looks much better than $1,809,580,000,000!!!! Our poor children and grandchildren - we need to stop this insanity.
Why The Cost Of Money Varies
The cost of money is measured by interest rates. Yet, we notice that interest rates seem to change. Let's explore why this happens. As they do for any other commodity, supply and demand affect the cost of money. Interest rates are determined by the supply of and demand for money. Inflation, too, is related to the supply and demand forces on money. Sometimes it is not clear which...
What Is Credit?
Credit is a loan of money. The loan may be for a short or long term. Sometimes the loan requires a formal application process; other times, it is made by the use of a simple plastic credit card—once the borrower's creditworthiness has been established. Here is how it works. There are two parties to a credit transaction. The creditor is the party who lends money. A creditor can be an individual or institution such as a bank, credit union, or lending company. The creditor is sometimes just referred to as the lender. The debtor is the party who...
Trading Unmanageable Debt for Manageable Debt
If you are like many people who find themselves with too much debt, you may need to consider refinancing or consolidating your loans. You might find yourself in a predicament where no matter how hard you try, you just cannot cut expenses any further or earn more income. The only solution is to lower your monthly debt payments. There are only three ways to...
Simple And Compound Interest
Perhaps you have heard of the miracle of compounding. Innumerable investors have used it to their advantage to make their money grow faster than would be the case with simple interest. The great thing about compounding is that it doesn't require additional work on your part: you just sit back and watch your money grow. How's that for an...