If you ever ask me about how to get out of debt, I have a variety of answers, depending on the situation. Probably the number one answer I give is “spend less than you make”. When you start asking more questions about how to get started, I’ll usually tell you that the first step is to cut up your credit cards. You just don’t need them. They only serve as a drag on your financial situation. When you use a credit card to make purchases, it’s too easy to spend money without thinking about it, because swiping a card doesn’t […] Read more »
How Fragile Are Your Finances?
Financially Fragile. What do those words mean to you? A few months ago TeamEOD writer Dr. Cabler wrote a post addressing the subject of being financially fragile. He gave the example that the majority of Americans would have to sell some of their possessions if they had to come up with $2000 within 30 days. I identified with the post because that described me for a very long time. Something happened this week that made me think of this post again. Major layoffs occurred within the company I work for. As the week progressed, the names of those affected spread. […] Read more »
5 Personal Finances Blogs I Recommend to Our Customers
In my role as Social Media Manager, I wind up conversing with all kinds of people looking for information about debt. Some of these folks have already enrolled in CareOne debt relief plans; some are just looking for resources to do it on their own. I like to send a variety of resources to people to help them find their way with personal finance. Although we have a ton of proprietary resources available through CareOne, I have found that the personal finance blogging community provides a constant stream of new content that can make the whole debt thing feel less […] Read more »
Allow Me to Introduce Myself…
Editor’s note from Travis Pizel: It is with great excitement that I introduce to you Suzanne Coblentz, a brand new member of Team EOD! Suzanne is the Social Media Manager for CareOne Debt Relief Services, along with wearing many other hats. She brought me on board as a customer blogger over three years ago, and is the person responsible for launching my blogging career. She’s dedicated to helping people rid themselves of the shackles of debt, is a personal friend of mine, and is someone that I admire and respect immensely. She’ll be sharing her personal perspective on debt […] Read more »
Are You Financially Smarter Than a 5th Grader?
I am a huge supporter of financial literacy, for both kids and adults. Financial literacy has become more complex since I was a fifth grader back in the 80’s (I know I am dating myself here). The financial services industry has exploded offering everything from online trading to debt relief. Tax laws make filing taxes a DIY nightmare, unless you purchase software like TurboTax with a step by step guide. And, applying for a loan or a credit card of any kind requires reading twenty plus pages of fine print. In a previous article, The Great Debate Kids and Money […] Read more »
What Will You Do…With Your Tax Refund
If you are one of the millions of Americans slated to receive a tax refund this year, why not make your refund work for you? Of course you will be tempted to splurge on a vacation, start home renovations or maybe even buy something frivolous, but why not use it to improve your financial situation. If you are struggling with debt, have little to no emergency fund, or haven’t even begun to think about retirement those refund dollars could make a big difference. Reducing your debt and preparing for the “what if” are a great way to reduce daily stress […] Read more »
Debt and Deeper Issues
Have you been trying to gain control of your money issues but just never seem to get any traction? I’ve talked to a ton of people over the years who have taken classes, written budgets, read books, and made every effort they could to get out of debt and try to make sense of their money. But after a short period of time they’re back to the same old habits they’ve always had, ending up with more month than money and steadily adding to their pile of debt. Why does this happen so often? Is it because I just didn’t […] Read more »
It’s a Win-Win: Get Rewarded for Saving
I recently heard about a really cool concept that started abroad and is making its way to the US—prize linked savings accounts. Just for doing what you’re already (hopefully, should be) doing, you are automatically entered to win a prize. Yes, adults like prizes and anything that is free just like kids do.; a novel idea that has more people thinking about saving for their future. This comes at just the right time, with the rate of savings in America at an all time low. A report issued by the non-profit Corporation for Enterprise Development, found almost one third of […] Read more »
Just Say No!
I’ve always had trouble with the word no even as a child. My mom claims she would have raised my brother ten times before having to raise me again. I was strong willed, stubborn and loved to say, “no”. Not much has changed since then, I am still strong willed and stubborn, the difference is now I can’t say no, to anyone. Extra responsibilities at work? Sure, no problem. We’d like you to be the head room parent this year. Ok, I can do that! Would you mind being the website coordinator for football? Yeah, I don’t see why not. […] Read more »
Make 2013 Debt Free…Join the Debt Movement
Did you ever wonder why New Year’s resolutions never last? Each year as I resolve to quit all the bad habits I developed over the previous year, I always do. But if you take the right approach to a resolution such as “getting out of debt”, there’s no reason you can’t be successful. If you’ve been working to get out of debt with little success and need a kick start, consider joining the Debt Movement! We all need a little help from time to time whether it’s a debt relief plan that makes the process easier, a nudge in the […] Read more »
Don’t Let Debt Hold You Back
2012 is rapidly coming to a close and it’s time to start thinking about your goals for 2013. If you have debts consider developing a plan to make 2013 the year you get out. Interest Affects Your Bottom Line The exercise of defining all of your credit card debt and the subsequent interest rates should be a top “to do”. Start by pulling your free annual credit report and seeing what you owe and at what rate. Create a spreadsheet, document or put a pen to paper listing your debts. Then calculate how much money you are spending each month […] Read more »
Holiday Shopping: Hook Line and Sinker
The holidays are expensive there is no doubt about that. Just how much are we spending? According to the National Retail Federation an average of $423 compared to $398 last year. Shoppers lured by deals often fall prey to opening credit cards to get an extra discount or delay payments. Card Hub’s latest study shows eight out of ten retailers offer financing to consumers, but more than 60% of them provide mind boggling terms, such as an offer of an initial zero percent term with backdated interest if the entire balance is not paid off during the offer period. So […] Read more »
Debt Struggles of the Millennial Generation
Across the United States the Millennial Generation is struggling with debt, especially in the state of Virginia, a place my friend, Brad Chaffee happens to reside. According to recent internal data from CareOne the number of Virginia residents between the ages of 18 and 24 seeking debt relief increased 33% from 2010 to 2011 and was 12% higher than the national average. The number of 25 to 34 year old Virginian’s seeking debt relief also increased during that same period, by 4%, and was 3% higher than the national average. So what is happening that is causing higher than the national average […] Read more »
Credit Card Negotiator
No it’s not William Shatner the Priceline negotiator, it’s you the credit card negotiator! You’ve got credit card debt that is starting to get out of control and you’ve decided it’s time to take the preverbal “bull by the horns”. So how do you get started? Who do you talk to? Where can you turn for help? Understanding how to negotiate credit card debt just may be the first step for getting your finances back in order. But first things first there are a few cardinal rules when it comes to negotiating with your creditors. 1. Know what you want. […] Read more »