Pay the mortgage or credit cards first? Which do you let be late?

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Let me start off by saying: I hope you never find yourself in this difficult situation! Life gets really stressful when money is tight. People get sick, layoffs happen, and the household income drops due to unforeseen circumstances. When you find yourself short on cash, which do you let be late: The mortgage or credit cards? According to TransUnion, one of the major credit reporting agencies, more Americans choose to pay their credit card bills to keep from being late than keep a mortgage current. Is this wise? Let’s walk through a few scenarios to expose the pros and cons […] Read more »

5 Steps to Recover from Christmas Debt

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Guest post by The Happy Rock.  The Happy Rock writes about personal finance at TheHappyRock.com and dug himself out of over $70,000 a few years back.  The Happy Rock also created a debt snowball calculator to aid people in getting out of debt faster. As the hustle and joy of the holidays are fading and the realities of a New Year are setting in, leftover holiday debt can ruin the excitement of the New Year.   If you find yourself stuck in this situation, here are five tips that will help you dig out and loosen debt’s shackles. Come to Terms […] Read more »

Debtors Anonymous

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Do you ever feel out of control when shopping? Most of us have experienced some “temporary insanity” when shopping, but there are times when it’s more than getting caught up in the moment. There are times when shopping becomes a compulsion, like a drug addiction. Sometimes heavy debt is more than just bad decision-making or poor financial literacy. Sometimes it’s a true addiction that needs treatment beyond what a new budget and some baby steps can provide. Here are the signs of compulsive debting. Being unclear about your financial situation. Not knowing account balances, monthly expenses, loan interest rates, fees, […] Read more »