Dealing with Holiday Debt

Many people get caught up in the fun of going on holiday and find themselves spending more than they expected.  Unfortunately, long after the holiday sun-tan has faded or the egg-nog has been drunk, the debt remains.  Because this type of debt can be unexpected and unplanned, many consumers struggle to pay it off in a timely fashion […]

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Habits that Keep You in Debt

Human beings are often referred to as “creatures of habit”.  That is because we enjoy routines, certainty and patterns.  Most people pick up a range of habits for everything, including — how they eat, how they they get dressed, how they shower and how they spend money. Poor financial habits that you may have picked up over a number […]

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American Households Take on More Debt

In a sign that many Americans are feeling more comfortable about the condition of the economy, U.S. household debt has risen by $78 billion in the last quarter.  The data comes from a survey by the Federal Reserve Bank. The primary drivers of the increase in debt were student loans, auto loans and credit card […]

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Tips to Help Pay Student Debt Faster

The cost of going to college continues to increase.  It has reached the stage that some economists suggest student debt is having a stifling effect on the United States economy.  For many students, paying back their college debt can take decades.  For other students the debt can stop them buying a house and building a solid […]

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Saving Money in Your 20s

Most people struggle to manage their finances when they are in their 20s. They have just entered the workforce, probably have a low paying job, have many bills and have little experience organising themselves. People in their 20s also have many credit card companies throwing easy money at them. It’s not hard for someone just […]

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Simple Tips For Improving Your FICO Score

Some recent changes in the way the FICO score is calculated have opened up some interesting opportunities for credit score improvement!  Some of these changes pertain to medical debt and for people with a settled debt collection on their record. It’s important to note that the general mix of FICO credit score remains the same, approximately: 35% Payment […]

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14 Worst Credit Card Mistakes

The road to a mountain of debt is usually littered with a trail of maxed out credit cards. Credit cards are very easy to use incorrectly and can quickly become a major financial problem. Unfortunately many people use their credit cards in ways which lead them towards financial disaster. They can often look like the […]

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The Worst Kinds of Debt

There are a multitude of ways you can get into debt. It’s important to realize that some forms of debt can be extremely dangerous, very expensive and negatively impact your credit score quickly. Other forms of debt can help you build wealth over time, for example a mortgage. Most consumers stumble into debt and don’t […]

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A Credit Card That Helps Manage Debt?

The idea sounds a bit silly at first – a credit card that helps people manage their debts and pay them off without defaulting. Because credit card companies tend to encourage people to spend. Quite simply the more people spend they more credit card companies will profit. However one new non-profit company has created a […]

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Household Borrowing on the Increase!

In the last year, American families have been borrowing money at the fastest rate since the global financial crisis, according to new data. That indicates there may be improving consumer confidence in the economy and increased spending. Household debt in the United States rose by a massive $241 billion in the last quarter of 2013, […]

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