Debt is the most dreaded word of everyone in the world. However, no matter how much we hate this word, it is always better to be prepared and knowledgeable about anything related to it. Learn more about debt and what you need to know about it here!
Adjusting Debt Levels Based on Interest Rates
The United States and much of the world has been in a long period of low interest rates. But the Federal Reserve, the independent body that sets base rate targets for the financial markets, has been slowly raising interest rates since 2015. Over the last 6 months, the interest rate has climbed twice, each […]
Modest Money Reviews Empower – the Best Way to Find Savings and Squash Debt
I’m somewhat hesitant to give recommendations to new personal finance apps (as there seems to be a new one cropping up every day), but Empower really is different. If you don’t read any further, at least go download it from the App Store. It only took me 3 minutes to connect all my accounts […]
Unsecured Business Loan Benefits
In this economy, there are lots of things being said about the risks that come with unsecured loans. What about the benefits? In difficult financial times, businesses that are starting out need seed money while established businesses need money to stay open. There is always a risk involved in borrowing money. But, with the […]
You Should Consider Filing a Consumer Proposal If You’re Struggling to Repay Creditors
It’s easy to fall into arrears and get in debt, whether it’s because of an unexpected vehicle repair or because you’ve recently lost a job and you don’t have a salary to cover your outgoings. Whatever the reason, it’s not an easy step to take to sort out your finances, but it’s a step […]
The Psychology of Debt
As humans, we like to think of ourselves as masters of our own destiny, able to make the decisions, good or bad, that take us through life. If only it were that simple.
The truth is that we’re overwhelmingly slave to our unconscious processes. You might argue otherwise – and the jury will likely be […]
4 Things To Do As Soon As You Get Out Of Debt
The last payment on a large credit card debt that has held you down for years is an incredible feeling. Getting into credit card debt can be done in a few short weeks, while getting out of it takes years. Those years are often filled with intense budgeting, meeting with debt experts, side jobs, […]
Buy Smart: 4 Home Investments Worth the Debt
As smart consumers, we generally try to avoid acquiring unnecessary debt – we might take a loan to buy a car or have a mortgage on our homes to afford a good location, but with smaller purchases we save, shop carefully, and proceed with caution when using credit cards. Sometimes, though, it makes sense […]
The US Debt Dilemma
Government debt may often be a confusing topic when addressed as a whole and not broken down and discussed by level. Due to the various types of government debt, it is important to be familiar with the structure of each level of government. There are three main levels of government in the U.S; the […]
Ready. Set. Refi.
Got student loan debt from undergrad, graduate school, or both? If your answer is yes, then the next video in the Charisse Says series on Modest Money, “Ready. Set. Refi.”, is for you. It is nearly impossible to do all of the investing we have discussed in earlier blogs and episodes if you are […]
Puerto Rico Barely Avoids Default
Puerto Rico scrambled to free up enough money to stave off a default earlier this week on a $355 million debt payment, according to Reuters. In an unprecedented event the archipelago announced a plan that would take money from one group of bondholders to pay another. This sounds somewhat like a ponzi scheme but […]
