Debt
Pay Off Debt or Save for Retirement?
One of the toughest decisions in the world of personal finance is whether it is best to pay off debt aggressively and postpone retirement savings or to save for retirement aggressively while only making minimum payments towards debt. Some experts, including Dave Ramsey, are advocates of aggressively paying down the debt. Other experts, however, recommend [...]
Would You Risk Your Baby’s Life to Avoid Debt?
Recently, on an online message board that I follow, a lady posted about a difficult situation she is in. This lady is pregnant and is having some complications with her pregnancy. Her doctors recommend that she deliver her baby via c-section at 36 weeks gestation. The only problem: this lady does not have medical insurance. [...]
The Purpose of Debt
It seems that nowadays everybody carries some amount of debt. Some people go into debt to start a business, some go into debt to obtain an education, and some go into debt to make large purchases. With opportunities for financing and loans everywhere to be found, it is no surprise that young people can find [...]
Federal Student Loan Changes–Income Based Repayment
Starting on July 1st, 2009, students will receive a huge relief on their federal student loan payments. The program is called Income Based Repayment (IBR). The new program will set a limit on monthly payments that is a percentage of the student’s income. Specifically, IBR will cap monthly payments to 15% of the amount by [...]
Paying Off Debt: Dave Ramsey vs. Suze Orman
If you are like most Americans, you have to worry about paying off a substantial amount of debt. This process can be stressful and overwhelming. Because of this, it is important to attack the problem with a plan. There are two main methods for attacking debt. The first way, called the “Debt Snowball” is championed [...]
