If you want to be debt free, you need a strategy. The average US household has $54,000 in credit card debt. If you're in debt, you really need a plan. The good news is that you have more than one option. There are several ways to get out of debt, but the two most used ways are called the debt snowball and the debt avalanche. Let's look at the differences and see … [Read more...] about How to Pay Off Your Debt: The Debt Snowball Vs. The Debt Avalanche
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Get Out of Debt Without Discipline [Video]
Here is my recent interview with Life Hacks magazine. Life Hacks is a free magazine that you can download on your iPhone or iPad. You can get the magazine here (my issue is the fourth free one). A Few Key Points for Skimming [4:26] Meet the expert who can help you get control of your finances and your life [6:16] Kalen's #1 suggestion to get out of debt - for … [Read more...] about Get Out of Debt Without Discipline [Video]
The Different Types of Credit Checks and How to Improve Your Score
Runaway debt and credit debt is the new normal. It doesn’t necessarily occur because you spend beyond your means, but can happen as a result of your FICO score dropping whenever you apply for a lease on an apartment, a credit card account, or a car loan. The company that reviews your application will pay a fee to check your credit and these checks are not harmless, but can … [Read more...] about The Different Types of Credit Checks and How to Improve Your Score
It is Dumb to Pay Your Mortgage Off Early?
Last week, we compared renting to buying. I wrote about powerful strategies for paying off your mortgage early. That's for those of you who decided to buy. But, before you decide to pay off your mortgage early, you need to ask yourself a very important question: Should you pay your mortgage off early? Some people believe paying off your mortgage early is dumb. … [Read more...] about It is Dumb to Pay Your Mortgage Off Early?
How to Set Realistic Financial Goals
Setting realistic financial goals is what separates the successful from the unsuccessful. Goals are good for every area of life, but setting financial goals specifically is important. The process of setting goals is just as important as having them, so let's look at what it takes to set realistic and effective financial goals. Determine Your Goals Just like with any goal, a … [Read more...] about How to Set Realistic Financial Goals