From the category archives:
Breaking into the hedge fund industry is a sure way to find yourself with a large income. Culture seems to dictate that most of that income will be spent and not saved. After all, you have to look the part and live the life. If you had to guess, where would you ... Continue reading this article…
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After recently finishing the last of my formal education (so far), I was able to consolidate my student loans. I received two pieces of information in the mail from the lender, one good and one not really that good. First, the good news. You are eligible to receive a 0.25 percent interest rate reduction when ... Continue reading this article…
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I initiated the process to consolidate (again) my student loans in June, anticipating the completion of my Master’s degree in August. After a long delay, my outstanding loans have finally been refinanced as of October 10 at a fixed rate of 4.25 percent. Now comes the fun part: finding money to pay it off, ... Continue reading this article…
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Did you know that today, Tuesday, September 12, 2006 is “National Get Out of Debt Day?” Neither did I. Today, the National Foundation for Credit Counseling is taking questions online and over the phone… and answering those questions, free of charge. So, who are these people answering questions, and will they be trying to ... Continue reading this article…
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One of the books I’m working on is The Ivey Guide to Law School Admissions, by Anna Ivey. I write a bit about decisions regarding graduate education, thanks to decisions I make in my own life, so I agreed to mention the book on Consumerism Commentary. One of the many things I learned while pursuing ... Continue reading this article…
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I’ve been talking with J.D. of Get Rich Slowly about the rise of (the social acceptance of) personal debt in the twentieth century, which was somewhat spurred on by my MoneyBloggerPodcast interview. J.D. has included a passage from a book, Ain’t We Got Fun, in his recent post, The Dawn of the Age of ... Continue reading this article…
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A few years ago, I woke up. It cost me more to go to work than I was making, thanks to commuting, living expenses, and a non-profit salary. I was the one not profiting. Life was great when I simply ignored the mounting debt. There was only so long that could ... Continue reading this article…
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The last portion of my final student loan was disbursed last week. That means that my debt level has increased again (although I have more funds in the tuition fund at my school to offset that debt). As reimbursements come in from my company, the debt should decreasing again — as long as ... Continue reading this article…
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DreamHost makes babies scream and old men with lung cancer cry. Sometimes, it has been said, they eat their young and take their pets to the opera. According to the Federal Reserve’s quartertly “Flow of Funds” report, the total net worth of American households rose in the first quarter this year. If you add up the ... Continue reading this article…
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G. over at How to Make a Million Dollars has a big warning, Don’t Lend Money to Your Friends. His advice stems from his being burned by a friend once. In this case, his friend took a long time to pay the money back. I can’t agree with the absolutism of his advice. ... Continue reading this article…
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As I mentioned last week, it’s time to consolidate your student loans. The U.S. News & World Report has a timely article about conslidation as a way of cutting back your costs. Student loans are basically a way of life for many college graduates. Lately, the interest rates have been so low it’s practically ... Continue reading this article…
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A feature on MSN Money looks at finances of people in their twenties. The feature includes statistics such as median net worth, median income, percentage owning homes, etc. with which you can compare yourself if you happen to be in this particular demographic. At age 29, I was doing well compared to these averages, but ... Continue reading this article…
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It’s time again for everybody’s favorite game show, Let’s Raise Student Loan Interest Rates! I’m your host, Guy Smiley. At the end of last year, Congress announced that student loan interest rates would increase on July 1, 2006. That day is quickly approaching. The increase is going to be significant. Stafford Loans ... Continue reading this article…
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I like Liz Pulliam Weston’s latest article, The Truth About Credit Card Debt because she cites some statistics that fly in the face of conventional thought regarding credit behavior of Americans. We’ve all heard this before: Americans are in an unparalleled level of revolving credit card debt. The average American household carries more than $9,000 ... Continue reading this article…
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I received my latest tuition reimbursement check in the mail. Actually, I received the check some time in the past two weeks, and somehow I missed it. While my girlfriend and I were tidying up my apartment, she stumbled across the envelope in a pile of pre-approved credit card offers — all junk-mail ... Continue reading this article…
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If you’re a visual person, you may like this debt repayment calculator I discovered via Consumerist. After you input the terms of your debt (only one account at a time), it presents a colorful timeline of your payments and end-of-year totals.
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Over the weekend, I decided to use $2,000 of the money I made from freelance web consulting last year to speed up paying off my car loan. Even though my car loan has a lower interest rate (2 percent) than my some of student loans (~4 percent), it’s more important for me to reduce the car ... Continue reading this article…
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Personal bankruptcies hit an all-time high in 2005. Two million people filed for bankruptcy last year. That includes a less-than-expected drop off in the filing rate after the new bankruptcy bill was enacted, making it more difficult for individuals and corporations to file. Lundquist Consulting provided the survey results. From their ... Continue reading this article…
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When congress cut federal funding from student loan programs, they raised interest rates for Stafford loans from 4.7 percent to 6.8 percent and PLUS loans from 6.1 percent to 8.5 percent. These rates will go into effect on July 1, 2006. A student with a balance of $10,000 upon graduation, taking a full ten years to pay off the ... Continue reading this article…
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Continuing in a series which includes Part 1 and Part 2, here are some tips for personal money management in 2006, which will play well in any year: Protect Your Home. Even before the massive losses caused by Hurricanes Katrina and Rita, insurers were scaling back policies to make it harder for homeowners to receive payouts that ... Continue reading this article…
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