I was $33,000 in debt by the time I turned 22. This wasn’t the sympathetic, socially-justifiable student loan kind of debt. This was $33,000 of credit card debt, accrued over a 9-month, blackout-style spending spree on clothing, farm-to-table dinners, bougie gym memberships, and Instagrammable getaways. The momentary thrill I enjoyed from all these purchases would […]
debt management
6 Ways To Prepare When Applying For A Mortgage
Looking to buy a home in the next year or more? You’ll want to clean up your credit, pay down debt and build up your savings. Here are six ways to get ready to apply for a mortgage. Review your credit reports. Buying a home is the biggest purchase you are likely to make and […]
Get Out of Debt Before it Gets Out of Control
If you’ve already read my first article, 5 Steps to Get Out of Financial Purgatory, you know that we’ve reached step #3 on the list. And, although, I am definitely not an expert on getting out of debt, life has taught me that you can’t wish it away or bury your head in the sand. […]
House Poor in Canada
It’s a commonly-held belief that Canadians make it a priority to pay for shelter costs ahead of other household spending. Mortgage payments and utilities typically receive more attention than transportation, clothes, and entertainment. First things first: we need a roof over our heads, we need running water, and we need the lights to be on. […]
Do You Really Need a Credit Card in Your Wallet?
As mentioned in my introductory post, there are “5 Steps to Get Out of Financial Purgatory“. We’re going to focus on each individual step in this blog series, so you can understand how and why each is important, and maybe use some of the information to make changes in your own financial life. Step one […]
5 Steps to Get Out of Financial Purgatory
I know Purgatory sounds like a bad place to be, but it really comes down to the fact that you are, or have been, financially “stuck” for awhile. The way you manage or don’t manage your money can play a huge part in this, but the good news is that it’s only temporary and there […]
How Bankruptcy, Payment Plans, and Debt Settlement Affects Your Credit
A common concern you may have when searching for the best way to get out of overwhelming debt is how it affects your credit score. What follows will help you understand credit score impacts that relate to the most common and legitimate debt solutions. This page will also help to dispel some myths that get […]
Debt Roll Up (aka Debt Snowball) Approach to Paying Down Credit Card Debt
The Debt Roll Up process (often referred to as debt snowball) is simple to understand and implement. This method to pay down credit card debt requires commitment and discipline. The approach is straight forward. You simply pay more than the required minimum payment on one credit card until it is paid off. Once you knock […]
Hardship Payment Plans for Credit Card Debt
What are bank sponsored credit card hardship payment plans? Banks reach out through the phone and with mailers in an effort to get accounts that have fallen behind back on track. Large credit card banks are willing to work directly with you shortly after you miss a payment. Hardship payment programs are a bank’s loss […]
Can Settling your Debts make it Easier to Find a Good Job in Today’s Tough Job Market?
In a recent blog post written by Diane Stafford with the Kansas City Star entitled: Bankruptcy filing thwarts re-employment, Stafford highlights a key reason why consumers who can qualify for a Chapter 7 liquidation of debt bankruptcy should research ways to avoid it, if at all possible. The concern here is your credit report when […]