More than just being a negative number in your bank accounts, debt is a word that comes with a lot stress to challenge mental and physical health. Each one of us, at some point of time in our lives, has gone through the debt stress or is still going through it. What surprises me is that how persistent and chronic the debt stress is, in today’s scenario. There is a huge amount … [Read more...]
Christmas within budget: Avoid money wastage and debt hangover
How much will be your credit card bills in the next month? Is this question engulfing your peace of mind? Yes? Don't worry! Here are some last-minute financial tips to manage your Christmas budget in order to avoid a debt headache: Don't forget to check out your list twice Be doubly sure before you take out your credit card for payment. And, before you head towards a … [Read more...]
Does Debt Consolidation Help Your Problem for Once & All?
Debt consolidation has emerged as the most popular way to get rid of overwhelming debts that one is currently trapped into. Those, who speak in favor of debt consolidation, are of the view that it will help the debtor find a strong financial foothold once again. Others are pole apart from the financial gurus holding an optimistic view about debt consolidation and warned the … [Read more...]
How Big Should Your Emergency Fund Be While You Pay Off Debt?
Ahh...the good ole’ emergency fund. If you’ve ever read any personal finance blogs, I’m sure you’ve heard that you need to have one, even if you’re in debt. But if you're building your emergency fund from scratch while simultaneously trying to pay off debt, it can be difficult to know how much money you should sock away in your emergency fund each month - let alone know when … [Read more...]
Is “Gazelle Intense” the Best Way to Pay Off Debt?
Popular finance guru, Dave Ramsey, coined the term “gazelle intense” as a way to go about paying off your debt. Ramsey’s point was that you shouldn’t be spending money on anything other than the absolute bare necessities when you are in debt. He pulled the inspiration for the phrase from Proverbs 6:4–5, which says, “Give no sleep to your eyes, nor slumber to your eyelids. … [Read more...]