Debt Calculator: How Much the Snowball Method Will Cost You

Debt Calculator: How Much the Snowball Method Will Cost You

The Debt Snowball repayment method will always cost you the same or more interestA charge for borrowing money, most often based on a percentage of the amount owed. More than the Debt Avalanche method if you have more than one debt and they have different 

Good Debt vs Bad Debt: Key Characteristics

Good Debt vs Bad Debt: Key Characteristics

Not all debt is bad! The specific definitions of good debt vs bad debt will vary from person to person. For people who plan to retire very early and live on a limited income or for people who know that they have a hard time 

The Best Ways to Pay Off Your Debt

The Best Ways to Pay Off Your Debt

The best way to pay off your short-term and revolving debtA source of debt, such as a credit card or line of credit, with a stated maximum against which you can borrow and can re-pay at your discretion. More depends on your priorities and what 

Credit Cards: What You Need to Know

Credit Cards: What You Need to Know

Credit cards are a terrific convenience but also can be very costly.  Effective use of a credit card can make life easier and improve your credit score.  On the other hand, credit cards are an example of bad debt. It is easy to buy more 

6 Ways to Slay Your Student Debt This Year

6 Ways to Slay Your Student Debt This Year

From Susie Q: I’m not as familiar with student debt as I am with the other topics on which I write, so was pleased to accept this guest post from Kate Underwood.  With Kate’s permission and approval, I’ve interspersed some comments and numerical examples in 

The Basics of Loans: What You Need to Know

The Basics of Loans: What You Need to Know

Loans are the financial instruments people use to borrow money.  Whether they are getting a mortgage to buy a house, borrowing money to buy a car (as opposed to leasing or paying cash as discussed in this post),  or other large purchase, not paying off 

The Scoop on Credit Scores

The Scoop on Credit Scores

Credit scores are one of the most important financial numbers.  Credit scores not only affect the interest rateThe percentage which, when multiplied by the face amount or principal of a financial instrument, such as a bond, savings account or loan, determines the amount of interest 

When Is It Good to Pay Off Student Loans

When Is It Good to Pay Off Student Loans

 This week, I’ll conclude the case study about Mary and her savings.  Her last question focused on whether to pay off her student loans.  The considerations include: The interest rateThe percentage which, when multiplied by the face amount or principal of a financial instrument, such 

Fundamentals of Interest

Fundamentals of Interest

InterestA charge for borrowing money, most often based on a percentage of the amount owed. More is a basic financial concept. It applies anytime you borrow money or someone borrows money from you. You pay InterestA charge for borrowing money, most often based on a