Along with losing weight, getting out of debt is the most popular New Year’s resolutions in the United States. In general, this resolution like all others tend to be forgotten within weeks. If you resolve to getting out of debt this coming year, here are some ideas for not losing sight of that goal. Don’t ... Continue reading this article…

This is a guest article by Laura, a twenty-something woman working to improve her finances and reduce debt. She writes about personal finance for college students and grads at Green Panda Treehouse. We’re buying a town house and it has a been a huge learning process. We have been running the numbers and making sure ... Continue reading this article…

There are many differing opinions about whether you can assign a quality like “good” or “bad” to debt. In general, I tend to believe that if debt is providing access to a necessary asset, like an education, a car, or a house, debt is at the least understandable. With debt, there is always a risk, ... Continue reading this article…

On a macro level, debt was a force behind the incredible economic expansion over the past two centuries, and the availability of debt at the family level played a role as well. Despite all that debt has brought society, many financial gurus and authors vilify debt and explicitly call the idea of borrowing money “evil.” ... Continue reading this article…

Yesterday, Consumerism Commentary reader Ryan suggested I write about interest-only mortgages. There is no such thing as an “interest-only mortgage.” Wouldn’t that be nice, though, to have a mortgage that did not require you to pay any principal back to the lender? Unfortunately, when you become a borrower, your lender will insist upon receiving interest ... Continue reading this article…

Recently, famous finance guru Suze Orman, who usually doles out sensible advice even if in an disrespectful manner, has advised the public to stop paying off credit card debt any faster than minimum payments allow in order to shore up a savings account that could last eight months in an income emergency. According to this ... Continue reading this article…

A few months short of five years ago, I purchased a new 2004 Honda Civic to replace a failing older model that had not been in my care. Today, this “new” car is passing 100,000 miles on the odometer, and it’s still running great. While I occasionally find my mind wandering towards the purchase of ... Continue reading this article…

Taking the first few steps to ensure your future financial stability can be daunting. There is so much to do, trying to decide where to start can result in wasted time, and wasted time is wasted money. Eliminating debt is often the first priority, and rightly so. If debt is in the form of credit ... Continue reading this article…

Neither a borrower nor a lender be; For loan oft loses both itself and friend, And borrowing dulls the edge of husbandry. That’s a well-known quotation from William Shakespeare’s Hamlet. Polonius was perhaps concerned about, among other things, the public shame that could come from being a deadbeat borrower. As he proferred this and other ... Continue reading this article…