Too many people have credit card debt! As of December, 2011, according to Capital One there was $801 billion total U.S. revolving debt. 98% is credit card debt! The total U.S. consumer debt is $2.5 trillion as of December 2011. The average credit card debt per household with credit card debt is $15,799. Just about everyone has a credit card ...
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Why You Should Think Twice about Paying Off Debt!
Do you pay off debt or invest? Many personal financial bloggers suggest to always pay off debt. It is not that simple! Whenever you have to make a financial or any kind of decision, you should examine all the alternatives. It is commonly called opportunity cost. Opportunity cost is the cost of any activity measured in terms of the value of the ...
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I am Wealthy, so What?
I was reading The Millionaire Next Door again and found out that I am wealthy! The authors offer a calculation to determine if you are wealthy, just multiply your age times your realized pretax annual household income from all sources except inheritances. Divide by ten. This, less any inherited wealth, is what your net worth should be. Why does ...
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Stop the Budget Insanity!
That’s right, stop the budget insanity! If you think I am talking about what is going on in Washington, you would be wrong. I am a lifelong planner and made a career out of budgeting, long range and strategic planning and financial management. A budget is a structure to help you achieve your financial goals. You can go through the motions or ...
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Breaking Down Consumer Loans
In economics, consumer debt is outstanding debt of consumers, as opposed to businesses or governments. In macroeconomic terms, it is debt which is used to fund consumption rather than investment. It includes debts incurred on purchase of goods that are consumable and/or do not appreciate. Debts that are owed as a result of purchasing goods that are ...
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There Is Always Something!
There is always something that holds you back! Why do we always make excuses? An excuse is an unconscious defense mechanism to justify or explain a behavior or feelings in order to avoid a true explanation. If you are constantly rationalizing your behavior by making excuses, you won’t accomplish very much. A long time ago, you made an excuse ...
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Is College Worth It?
Is college worth it? You would expect a high return on investment (ROI), if you attended Harvard, Yale or MIT. Even if you received a degree from a no name university. A lot of families are thinking about this question, whether you are a high school senior or just graduated. Finding a job in this economy is tough and paying off student loans ...
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How to Shop for the Holidays
Have you started to shop for the holidays? Here we are again, the holidays are here and the day after Thanksgiving is the official opening of the season. A couple retail stores are talking about starting on Thanksgiving. This confirms we are a consumer oriented country! I know some of you have started already. Here are my five (5) tips for ...
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How Do You Prepare for the Unexpected?
Are you prepared for the unexpected? This past week saw unusual weather hit the East coast and devastate the Jersey shore. Too many people’s homes and businesses are devastated and will take a long time to rebuild. Natural disasters like hurricanes, tornadoes, floods and earthquakes destroy property and take an emotional toll on everyone ...
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Online Payday Loans, Good or Bad Idea?
Anyone can get a Payday loan, if you meet the criteria! Do you need instant, fast, cash, same-day, pay-day and unsecured emergency loans? A Payday loan is a short-term loan usually repaid on the next payday (two to four weeks). It generally carries a higher interest rate. If you cannot repay the entire amount, you will accumulate late fees and ...
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