Debt Problem - Signs to Look For - When to Get Help to Control Debt

The line between a future of financial solvency and one of distress is thinner than you might think.
Unfortunately, many people don’t realize they’re on the wrong side of that divide until it’s too late.
You could call it the ostrich syndrome. You know that things aren’t good, but you just don’t want to face up to

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How to Hurt Your Credit Score Without Really Trying

You don’t have to put a lot of effort into it to hurt your credit score. Just a misstep or two is all that’s required.
Let’s look at a few ways your credit card could get dinged.
Paying Late
Credit card companies are notoriously prickly about late payments — even a payment that’s late by a few

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Reduce Spending and Debt by Looking at Variable Expenses

The best way to begin getting the debt and spending under control is to reduce your monthly expenses. And one good place to start is to focus on reducing your variable expenses.
Variable expenses include those that can be changed or eliminated entirely.
Variable expenses are those that fluctuate each month, such as clothing, food, entertainment, vacations,

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Pay Down Debt or Save for Retirement?

As important as it is to start saving for retirement early, you may be better off tackling your consumer debt first. In some cases, the amount of debt you have not only affects your budget today, but it can significantly limit your options in the future. So if you’re contemplating whether to pay down your

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Options for Getting Cash to Make Ends Meet

When you need cash to help make ends meet here are a few risks to avoid.
Credit Report
Before you take on new debt, it’s a good idea to take a look at your credit report and make any corrections.
Balance Transfer to a New Credit Card
If you go for a credit card offer that promises a low

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Use Debt Wisely to Build Wealth for Enjoyment and Sharing

For most of us, debt and borrowing money is a fact of life. However, debt can also be a financial tool to provide us with leverage that we can use to build net worth and wealth that we can, in turn, leverage to enjoy life and give back to others.
While cash can be used for

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Steps to Protect Your Cash Flow

Here are some steps you can take to protect your cash flow during tough times. It may be a job loss, or large and unexpected medical bills. Whatever the cause, it threatens your income stream or raises your expenses. You’ll need to take drastic measures to restore your cash flow as much as possible.
Eliminate Nonessential Spending
One

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Homeownership: Your Mortgage and Other Financial Goals

If you’re buying a house, never let a mortgage lender tell you what you can afford.
A lender makes more money when you borrow more money. And most lenders don’t really know everything about your finances. They just look at your income and do a quick calculation to tell you what they think you can afford. They

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College Loan and Financial Aid Basics

When seeking financial aid and a college loan look first to the federal government before you resort to borrow money from a private loan.
Federal student loans typically charge a lower interest rate and don’t have much in the way of add-on fees.
The big federal loan programs are Perkins, Stafford and PLUS. You can get a

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Mortgage Debt: Before You Buy a Home If FICO Score Not in Top Range

This is a smart home-buying move that can save you big-time money on your mortgage debt if your FICO score is between 700 and 760.
Your FICO credit score plays a major role in determining the interest rate on your mortgage. If your score is 760 or higher, you’re in line for getting the lowest rate. But

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College Financial Planning: Options to Reduce the Need for Debt

As prospective college students, and their families, prepare financially for a college education there are options. Here are some tips for college borrowing to reduce the need for debt and total borrowing costs.
Cut College Costs
Before you take out a private loan, look at the big picture. Do you have any savings you can direct toward

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Risks to Your Wealth and Prosperity

Prosperity is having sufficient assets to support your ability to live life for fulfillment and enrichment.
Here are some of the risks that can affect your trek to prosperity.
Spending
The most successful wealth managers know that they must be disciplined in their spending. It’s easy to let expenses increase as you make more and more money. If

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Managing Debt as an Important Financial Tool

Debt is an important financial tool that can be managed or mismanaged. If handled well, debt can enable us to purchase appreciating assets, minimize our long-term housing and transportation costs and reduce our taxes.
Debt has the power to improve our lifestyle, increase our cash flow and build our wealth. It also has the power to

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Getting out of Debt – Assess, Budget and then Reduce

In America today, carrying some debt is unavoidable, and even desirable, for most households. But between mortgages, car payments, and credit cards, many Americans find themselves over their heads – unable to dig out from under a growing debt burden that consumes an ever growing portion of their resources.
Assessing Your Debt
How much debt is too

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Debt – How Your Credit Score Affects Your Future Cash Flow

Your credit score can affect your future cash flow. It can increase insurance premiums, job offers, housing costs and interest payments.
Insurance
Different rules apply for life, home and auto insurances.
Life insurance
A bad credit score will exclude you from top-tier life insurance, but your score doesn’t weigh heavily at any other level.
Although it does get factored in,

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Your Credit History and Credit Score – An Overview

What is a credit score?
A credit history is a collection of all of the pieces of financial information that relate to your life. It contains information on how long you’ve had your individual credit accounts, the account limits, balances, and your payment history.
Current and future creditors only want to know one thing: if they loan

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Debt Consolidation and Debt Relief Options

Debt consolidation is an important objective for many families.
For many people there is no clear way out of their debt problems – especially as they continue to meet their ongoing living expenses.
One debt consolidation option is to use equity or some type of collateral to obtain a debt consolidation loan. This option can provide value

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