Debt shackles you to the people you owe. Debt reduction removes those shackles and frees up your cash flow. What does being upside-down on a loan mean? Being upside-down on a loan means that you owe more on your asset than it’s worth. This means that even if you sell the asset that you owe … Read more
If you have to pay down debt, you know that it can be a long, hard road. Making it a bit of a game and celebrating is a way to keep yourself going … (This post was published on November 5th, 2013, and has been updated.) After blogging in the money niche for a while, … Read more
Just when we thought our non-mortgage debt was paid off, we remembered about our 401(k) loans … I’ve talked a number of times about Dave Ramsey’s Financial Peace University. I recommend it regardless of whether you feel you need help with your finances or not. (My wife and I learned a lot more than we … Read more
Warning: This financial freedom post may be a bit goofy and feel-good. If you agree with the post, don’t worry, I won’t tell. 🙂 This month we crossed below the $20,000 barrier on our rental house. Each payment is now mostly principal, and the picture of owning the house outright is clearer month by month. … Read more
Making a loan payoff goal is a fantastic feeling. Your bank, however, may not feel the same way as you do … As I posted about recently, we paid off our van loan, something we’re very happy about. We celebrated along the way, of course, but these mini-celebrations are nothing compared with the complete loan … Read more
Slaying a debt dragon is warrior code for paying off a debt. What will you do with that new-found money? Here are some good choices …. We know how it feels to have slain a debt dragon. We know the pleasure of watching the carcass rot in our front yard. We know the pleasure of … Read more
Paying more than the minimum amount due on an installment loan, like an automobile loan or a mortgage, saves on interest expenses in the long run. You owe the money for less time, and hence pay less interest. There are of course lots of ways to pay down loans more quickly. There’s something for everybody … Read more
Credit cards have been around for a while, mainly during the past sixty years. They’ve made it easy for people to start a tab: buy now, pay later. The problem with buy now, pay later, of course, is that it’s likely that the thing you’re buying will cost more money in the long run. There … Read more