How Delinquency and a Debt Settlement Program Can Affect the APR on Your Credit Card (Part 1)


A selling point, deal breaker, or the cost of securing credit — the annual percentage rate usually gives you a standard for comparing interest and fees from different lenders. However, when you’re initially issued a credit card or dealing with debt that is piling up, the APR is going to be very much based on the individual bank with which you’re dealing. Each and every lender tends to have unique strategies in pricing APR. However, when it comes to factors that generally affect APR, one thing creditors look at in evaluation is the credit-worthiness of the potential cardholder.  As a […] Read more »

Debt Relief Firms: Why Use One and How to Pick a Good One


If you’re currently in debt and are considering working with a debt relief firm, you’re in good company. Many people just like you are turning to debt relief firms to help them create and follow a plan for freeing themselves from debt. But why would you opt to work with a debt relief firm versus trying to attack your debt on your own? And if you choose to work with a debt relief firm, how can you find one that will do a good job? Let’s take a moment to answer these questions and more. A Guide for Your Journey […] Read more »

3 Reasons To Never Borrow From Your 401k

borrow withdraw 401k

Have you ever needed a large amount of money and dipped into your 401k to get it?  Maybe you wanted to put a down payment on a house, had an emergency, or some other reason you needed the money. If you did dip into your 401k, was it really worth it?   Taking Money From Your 401k Has Consequences When you withdraw funds from your 401k account to take care of a present need, it can be very detrimental to your future.  Even if you take the money out with the best intentions, it can still have far reaching consequences […] Read more »

3 Ways to Get the Most From Your Income Tax Refund


Over 100 million Americans received refunds in 2013. Undoubtedly, the effects of such windfalls wore off long ago. Were these bonuses used wisely? Here are three ways you can get the most from your income tax refund: 1. Prepare for an Unexpected Event This sounds like an oxymoron, being prepared for something unexpected, but this could be the smartest move for anyone – even someone in debt. Nothing could be smarter than to cash the check and put it into a savings account for emergencies. Let’s face it – something bad is going to happen someday and those things usually cost […] Read more »

Teaching Your Kids About Money? 5 Concepts They Need to Know

teaching your kids about money

Are you regularly teaching your kids about money and how to handle it?  I don’t mean just talking about very simple concepts such as “save money” or “don’t spend it all”.  I mean are you really teaching them what money is all about? When they get older are they going to have a clear picture of how to manage their money well so they don’t end up in financial trouble like so many people who never learn these principles?    The Basics Still Apply Managing money is much more difficult than it was 40-50 years ago because most of us […] Read more »

It’s Over. We’re Free!


This morning I made a quick phone call, and just like that it was over. With our 55th payment, plus a partial payment scheduled to be automatically withdrawn on Tuesday, the last of the $109,000 of credit card debt that we had enrolled in our debt management plan is gone. We’re free!!! Free from the shackles of debt that have have held us down for our entire seventeen year marriage. Free to finally have the decision of what to do with our money fully within our own control instead of having to hand it over to credit card companies.  No […] Read more »

Debt Collectors Harassing You?- Here’s What You Can Do

debt collectors harassing

Dealing with overdue debt stinks. Dealing with a debt collector harassing you can be just plain scary. When you have debt that’s gone bad and been placed in a collection agency, it very easy to avoid the situation or even completely ignore it when you feel like there is no way you’ll be able to pay it. That’s why some debt collectors will resort to whatever it takes get your attention, even if it’s illegal.   Some Debt Collectors Do Crazy Things Most debt collection agencies are very professional and do their best to follow the rules on debt collection […] Read more »

How Much Do Your Teeth Cost You Each Year?


One of the foundations of handling your finances successfully is to know where all your money goes, and what you spend it on. Our family just went through our beginning of the year round of teeth cleanings and checkups and as I sat in the chair wondering why it’s so freaking hard for the hygienist to prevent herself from poking me in the gums repeatedly (I HATE that), I also wondered just how much the maintenance of my our teeth costs us for a calendar year. So when I got home, I broke it down: Cleanings: Our family of four […] Read more »

I Don’t Want To Pay Off My Debt Anymore!


Today’s post is courtesy of John Schmoll, who is the founder of Frugal Rules, a blog created to help people experience financial freedom through frugality. John is passionate about budgeting, saving and investing and enjoys sharing his knowledge and experience with others so they can avoid making some of the mistakes that he made. A veteran of the financial services industry, John has an MBA in Finance and experience as a licensed stockbroker. Now that I’ve got your attention, let me tell you that I’m not thinking of giving up on paying off my debt. Instead, I’m expressing the feeling […] Read more »

How to pay $2,048 in debt before Thanksgiving by doubling-down

Debt down

Would you be interested in knowing how to pay off $2,048 in debt? We all know having a budget is important, but budgeting doesn’t work unless you do. That is why motivation, encouragement, and a vision to succeed is required when putting on the uniform as an Enemy Of Debt. Follow these three ideas to pay $2,048 in debt before carving your next Thanksgiving turkey.   The power of a post-it note Write your most urgent goal on a post-it note and stick it to your bathroom mirror. It doesn’t have to be prolific and it doesn’t have to be […] Read more »

My New “Celebrating Financial Freedom” Course!

Celebrating financial freedom online get out of debt course

If you’ve been following my posts here on EOD for a while now, you may know that I offer a popular Christian get out of debt course that I’ve taught at various venues over the years. The course has always been offered in a physical version with a workbook and CD’s. I’ve been asked many times if I have the course available in an online format, and I’ve always had to say “no”. But not anymore. You Can Win Access to the Course for Free!  (Continue Reading)   You Asked, I’m Making it Happen Over the last few months, I’ve […] Read more »

Getting the Average American Out of Debt

debt sign

[Guest author today, Graham from] Getting out of debt isn’t easy. But, as many inspirations in the personal finance blogosphere have proven, it’s achievable. And when it is achieved, boy does it feel good!! We see hundreds of figures every year on “The Average American” and that they are in a position of debt like never seen before. Well, today, we are going to get this average American, let’s call him Tay (“The Average Yank”), out of debt for good in under 3 years, with relative ease! The Average American’s figures To help Tay, we need to know a […] Read more »

Use The 4 Keys of Consistency to Get Out of Debt

consistent get out of debt

When you decide to start getting out of debt, it can be hard because you’re attempting to live life in a new way.  You’re changing your mindset about money and developing new habits that you hope to be permanent. But while you’re in the midst of making all these changes, it can be easy to let some of those old habits and mindsets creep back in. Change is hard. That’s why it’s necessary to learn how to be consistent when you’re trying to getting out of debt.   It Takes Firmness of Character To Get Out of Debt One definition […] Read more »