Student Loan #1 – Paid off! #Winning
Yes, I included a Charlie Sheen Twitter reference in the post title. But when you are a personal finance #warlock with #tigersblood, it is only appropriate.
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Debt Management
What Happens If You Declare Bankruptcy
I just saw a commercial advocating bankruptcy as a good option if you are in trouble with your debts. That is misleading and far from the truth. The fact of the matter is that bankruptcy is a serious issue and can have serious implications that impact you for decades.
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Important Interest Rates That Impact You
If you are getting a loan, or have a credit card, or have money in a bank account, or partake in any number of other financial activities, you have seen the term interest rate thrown around. Interest rates are one of the most important financial concepts, and understanding where they come from is important to your financial future.
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Take a Loan on your 401(k)?
I was wondering what your take is on borrowing from a 401K to pay off credit cards. Everything I’ve read says not to but 1) I have an interest rate on one card that is 27%; 2) I’d be paying myself back an annual rate higher than anything I’m getting now. So why not?
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Debt Addiction
Debt addition is a real thing. Unlike drugs, it is not a chemical dependency. It is more like a food addiction, it is a mental state where you cannot conceive living another way. It is a very real and very serious issue around the world, but particularly in North America.
Reader Question: Big Student Loans
I’ve had bad financial education in the past and now trying to fix all of these errors which I’ve made. Currently I have 4 loans from Sallie Mae which are total to $30000. Two of these loans have APR of 7.75%, one loan has 9.25% and one has 10.25%. This is quite ridiculous in my opinion, and I need some advice on how to fix it. What would you suggest?
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