Category: Debt

Finding the Freedom to Form Your Nest Egg When Your Nest is Full of Debt Modest Money8 Comments

freedom

The following is a guest post about debt. If interested in submitting a guest post please read my guest post policy and then contact me.

It’s often said that the goal of successful personal finance management is achieved by spending less and saving more. That makes sense, but which comes first? If you have a set number of dollars to allocate each month, it’s challenging to decide whether you should first pay down existing debt or focus on building your personal savings. The advice given by many financial advisors today directs consumers to pay down debt before they ever think of trying to set aside money for savings, but that’s easy to say when you are living on a financial advisor’s salary.

So, for the average American, which comes first: freedom from debt, or a nest egg?

First, it’s important to point out that while freedom from debt may save you from paying mountains of interest, an “emergency fund” savings account could save you from total financial ruin. This is especially true in cases where you would go back and borrow against those revolving accounts again if you ever found yourself in a financial emergency. However, it is difficult to convince…

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By : Adam | 15 Jul 2014
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financial-independence

How to Be Financially Independent – And Why You’re Probably Not There Yet

By : Adam | 11 Jul 2014

The following is a guest post about financial independence. If interested in submitting a guest post please read my guest post policy and then contact me. Do you want to work … forever? REALLY. I mean all the way up until you die? I realize …

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bankruptcy

Top 5 Causes Of Personal Bankruptcy

By : Adam | 2 Jul 2014

The following is a guest post about personal bankruptcy. If interested in submitting a guest post please read my guest post policy and then contact me. During 2013, almost 120,000 Canadians filed for bankruptcy relief or filed a consumer proposal. While the number of personal …

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cash-loans

What To Look For When You Need A Cash Loan

By : Josh Rodriguez | 1 Jul 2014

The following is a guest post about cash loans. If interested in submitting a guest post please read my guest post policy and then contact me. Although most of us do our best to go through life without ever needing a loan, in some cases, …

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financial-freedom

Financial Independence and the College Lifestyle

By : Adam | 5 Jun 2014

The following is a guest post about financial independence. If interested in submitting a guest post please read my guest post policy and then contact me. What does it mean to be financially independent in college? While being independent—being on your own, cooking your own …

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