Introduction Debt can be a good thing: it allows you to buy things that you otherwise wouldn’t be able to afford. However, debt can also have a negative impact on your financial health and credit score if it’s not managed properly. If you’re carrying any type of debt, here are some tips for managing it…
Unraveling the Mystery: What Makes Good Debt Different from Bad Debt? Debt, as you’ve probably already heard, isn’t always a bad thing. Many of us view debt with a certain amount of trepidation, but what if I told you that it’s not always a villain? It’s true! Some types of debt can actually be beneficial,…
Understanding Interest Rates If you’re anything like me, you’ve found yourself puzzled by the term “interest rates.” The concept might seem daunting at first, but in reality, understanding interest rates and their impact on your debt can be quite straightforward. The Basics of Interest Rates In the simplest terms, an interest rate is a percentage…
Understanding the basics of debt is crucial to financial literacy and responsible money management. Whether it’s a mortgage, credit card, student loan, or personal loan, most people will have to deal with debt at some point in their lives. By gaining a solid understanding of debt, you will be better equipped to make wise financial…
Consumer Debt If you are dealing with debt, you are not alone. According to a report by Debt.org, “Total U.S. consumer debt is at $11.4 trillion. This debt includes mortgages, auto loans, credit cards and student loans.” We live in a wealthy country. People have money problems for many reasons. Some people work hard all…
Student loan debt consolidation is a strategy that allows a student to combine all his loan debts into a single loan, with one monthly payment. Student loans are classified into federal student loans and private student loans. Federal student loans are issued by the US Department of Education as well as the Department of Health…