Debt

Once you’ve borrowed the money, your reasons are financially irrelevant… — I recently wrote about why it doesn’t make sense to try and pay off every debt as fast as you possibly can. Pay Every Debt Off ASAP? Surprisingly, the Answer Is No! How to get debt payoff priorities right…themakingofamillionaire.com A bunch of readers commented. Given high interest rates, a looming recession, and multiple high-profile mass layoffs, debt is clearly on many people’s minds these days.

They don’t have a clue what they are doing — Sometimes you just have to let someone dig themselves into a hole they cannot get out of. That’s exactly what the GOP controlled House of Representatives is doing right now. I think of parents, whose child is having a screaming temper tantrum, who just let it play out until the…

Life without debt is better than eating a barbeque every Sunday with borrowed money. — I have never met anyone who has never taken out a loan. Sometimes out of necessity, sometimes out of comfort, we end up in debt. Financing is most common with cars, houses, and studies. In exchange for this loan (financing is a loan), the person who lent us the money…

The Archangels Tell Us Why We Should Consider It — Oh. My. Goodness. I just watched the most interesting program on Netflix called Minimalism: Less is Now. It has the potential to be life-changing, at least for me. Let me explain. I Have Too Much Stuff! When I was a kid, we always had whatever we needed but not many…

If Congress doesn’t raise the ceiling, one of the political parties threatens to bring our economy to a halt. That is not a sensible way to run a government. …

How to get debt payoff priorities right… — There’s a difference between “being in debt” and “having debt.” You may think the difference is subtle, but it’s anything but… Being in Debt Back in 1992, I borrowed $6000 at 10.4% (!) interest to buy a used car. As I’ve written elsewhere, that was one of my biggest financial blunders. The $195…