The Evolution of Perspectives on Debt There was a time when the notion of having debts was akin to a social taboo. Discussing personal debt was almost unthinkable, much like a forbidden secret. People would shy away from admitting their financial liabilities, maintaining a façade of stability even when hidden beneath substantial debts. This perspective,…
Understanding the basics of debt is crucial to financial literacy and responsible money management. Whether it’s a mortgage, credit card, student loan, or personal loan, most people will have to deal with debt at some point in their lives. By gaining a solid understanding of debt, you will be better equipped to make wise financial…
Consumer Debt If you are dealing with debt, you are not alone. According to a report by Debt.org, “Total U.S. consumer debt is at $11.4 trillion. This debt includes mortgages, auto loans, credit cards and student loans.” We live in a wealthy country. People have money problems for many reasons. Some people work hard all…
The Tumultuous Terrain of Irresponsible Lending, Spending, and Borrowing As the whispers of irresponsible lending began reverberating across nations, many individuals found themselves grappling with the unsettling repercussions of overspending and immense debt. This crisis had unearthed the pressing issue that banks had fallen into the perilous trap of lending money recklessly, ensnaring countless people…
Introduction Debt can be a good thing: it allows you to buy things that you otherwise wouldn’t be able to afford. However, debt can also have a negative impact on your financial health and credit score if it’s not managed properly. If you’re carrying any type of debt, here are some tips for managing it…
Credit comes with pitfalls. We are told this regularly and for many people it seems to be all they ever hear about the process of paying with credit. However, if managed to your advantage, you can make credit cards work for you. Bear in mind that banks and lenders are quick to add charges to…