I deal with this issue frequently as I help my clients get out of debt and the short answer is NO! That is not to say that interest rate is not an important consideration. It just means that there may be other considerations that may have a greater impact on the speed and efficiency with which you get out of Read More >
The 6 Biggest Mistakes People Make When Paying Off Debt
Posted on: 12.10.15
There are three primary types of debt available today: 1) Revolving, 2) Installment, and 3) Mortgage. Revolving debt is the most costly type of debt and is typically made up of credit cards, which allow you to use someone else’s money, pay down the balance, and use that money again. Installment debt is typically a Read More >
6 Outside the Box Methods to Get Out of Debt
Posted on: 12.01.15
Last week I wrote a post about ways a homeowner can use the equity in their home to consolidate and transfer their credit card debt to a more efficient method of financing. But not everybody owns a house and not everybody that owns a house has enough equity to allow them to utilize that strategy. This week I want to Read More >
The Quickest and Most Efficient Way to Get Rid of Credit Card Debt
Posted on: 11.24.15
Getting rid of outstanding credit card debt is generally a top priority for most people that have credit card debt, but they either don’t know how to go about doing that, they don’t have the extra money necessary to do it, or both. There’s good news for those that own a home. The quickest and most efficient method Read More >
What is the Biggest Threat to Financial Health?
Posted on: 11.10.15
While not having an emergency reserve represents a big threat to anybody’s financial health, without a doubt, the biggest threat to the financial health of many Americans is consumer debt! Consumer debt is comprised of credit card debt, auto loans, and other installment loans, but credit card debt accounts for the Read More >
What is “Financial Health?”
Posted on: 10.27.15
According to Investopedia, Financial Health is a term used to describe the state of one’s personal financial situation. Their definition goes on to say that there are many dimensions to financial health, including the amount of savings you have, how much you are setting away for retirement, and how much of your income Read More >