Yes it is possible to be debt-free. Let us help you see the light at the end of the tunnel. Also be sure to check out our complete guide to getting out of debt.
You’ve heard both extremes: “debt is a tool” and “debt is pure evil”.
I’m not that extreme, but I do lean towards the second option.
It’s often believed that debt can be used as leverage, and that it can get you where you want to go faster than living debt-free. That can be true, but living with debt can also get you bankrupt faster than living without debt.
Yes, all reward has risk, but this one may not be worth it.
Let me clarify. Here’s why I think debt is a bad idea and how it’s possible to live without debt…
Any type of business, irrespective of their credit scores, can get merchant cash advances through various companies. Small business loans are loans that are provided by banks and other lenders, and guaranteed by the Small Business Administration (SBA). Since there’s a government guarantee in the event of default, banks and other lenders often give out such loans that they wouldn’t have otherwise given.
The mirth and merriment of Christmas are very much upon us, with the big day now getting very close. It’s a time of laughter, fun and special times with friends and family – just as it should be. Yet with the unrelenting social activities that come with it, costs of buying presents and other wallet drainers, there is no doubt that the holidays can put a strain on anyone’s budget, and maxed-out credit cards are hardly unusual by the time January dawns.
But instead of using the festive season as an excuse to exacerbate your existing high-interest debt, why not see it as the time to take action, and eliminate it instead? The path to becoming debt-free isn’t as arduous as it may seem, and with a combination of self-discipline and some clever strategic thinking, you can start getting yourself very much on track.
Do you think that financial experts can always manage their credit cards smartly? If so, then you’re dead wrong.
Here’s my story to clear your misconception.
There was a time when I didn’t manage my credit cards and finances carefully. To make the matter worse, I got a job after completing my studies. It gave me an opportunity to spend even more and incur debt. Now, when I look back, I realize that I wouldn’t have incurred debt if there was no job.
Financial experts advise that an individual have enough money to pay for several months worth of expenses if a financial emergency strikes.
In addition, it may be worthwhile to have a credit card or other funding source handy if such a situation occurs.
This is because an unexpected expense can occur at any time whether you are ready for it or not.
See what the most common emergencies are and protect yourself from them…
It’s no secret that most people don’t know how to handle money.
Personal finance is one of the primary categories of blogs on the internet today.
That’s because it’s needed. It’s highly needed. And most people don’t even know where to start.
People don’t understand things like the stock market, mutual funds, index funds or compound interest in general. The average person doesn’t keep a budget, and they overspend on a daily basis.
I know you don’t do that, but you may still be wondering why personal finance isn’t taught in schools, and why most people don’t have a clue when it comes to money.
Here’s some insight…
Here is my recent interview with Life Hacks magazine.
Compound interest. The 8th wonder of the world.
Do you know the power of compound interest in its entirety?
It’s the greatest thing in the world…when it’s working for you.
When it’s working against you, it can be one of the most devastating things in the world. A catastrophe, really.
I’m just going to take a minute or two to show you the amazing power of compound interest. Then I’ll let you decide if you would rather it work for you or against you.
Here it is. Compound interest. The good and the bad…