Yahoo! Finance! has! a! first-person! story! about! struggling! on! six! figures!
Silliness aside, you might be surprised to hear I–an infamous stingy Scottish miser–am at least a little sympathetic.
Sometimes people ask me for help with their finances. And I’ve seen the effects that debt can have on people. I believe having no debt is best. Having debt that you’re paying off is second-best. Festering debt, however, is crippling. That’s what you want to avoid, before it catches up with you. Not only can bad debts keep you from borrowing more money, it can also make it more difficult to sign a lease or get a job.
Here’s how to make a plan to pay off that debt and improve your credit score.
I see the repackaged debt snowball method is making the rounds again. Let’s not make this overcomplicated. You can do this.
This week, my wife and I drove to the bank and signed some papers initiating a wire transfer to our mortgage company.
Yesterday, I had the satisfaction of logging into the mortgage company’s web site, clicking on my account, and seeing the words “paid in full.”
I moved into this house in October 2002. Five years and eight months later, I own it outright. Between the house and our cars, my wife and I have paid off nearly $180,000 in debt in those five-plus years.
I’ve done some reading in recent days. First I read that GenXers aren’t happy with Corporate America and the feeling is largely mutual. It appears I’m not the only one.
But I see an opportunity in this. We have a window to take this country back. And I have a plan.
I had a bit of a financial epiphany over the weekend.
I have a well-deserved reputation for being a tightwad. Part of it is in my blood; I’m largely of Scottish descent, and Scots just tend to act that way. But I think part of it is what I observed growing up.