Posts having to do with credit card, student loan and any other consumer or personal debt. Documentation and stories related to our debt payoff journey. Learning how to get out of debt and recover from credit issues.
Here’s a thoughtful and informative piece to help you decide if debt consolidation might be right for you. My friend Ryan from Arrest Your Debt is sharing some useful details in order for you to make an informed decision. If you’re thinking of pursuing debt consolidation, be sure to weigh all of the pros and cons of that decision.
Read on, for more details —
If you have many different debts with different interest rates, payoff schedules, and balances, it may sound like a good idea to sign up for debt consolidation. Debt consolidation can seem appealing with the promise of a significantly lower monthly payment and a reduced interest rate.
For some people, debt consolidation may be a reasonable solution. For others, they will be making the debt consolidation company rich.
The truth is, debt consolidation and debt relief salesmen will tell you whatever you want to hear to get your business. Don’t fall for any of the gimmicks or false promises. Before you sign on the dotted line, learn the truth about debt consolidation to find out if this strategy is right for your situation.
Here’s an article that was recently published on Debt.com, that I had the opportunity to contribute to. Read below for some financial expert opinions on how to respond to money criticism.
This post first appeared on Debt.com and has been republished with permission.
28 Experts Answer: How Were You Criticized for Managing your Money?
Naysayers are everywhere. When you’ve got a solid financial plan and stick to it, often friends and family will lose their minds and tell you that you’re doing it all wrong. It’s important to stick to your guns in these cases and follow the plan that you know will lead you toward debt freedom and financial independence. At the same time, some criticism may be constructive, so it’s important to be open so you can receive valuable advice.
We spoke with 28 financial experts and asked them a simple question:How were you criticized for managing your money, and what did you do to deal with it?
I’ve started and stopped writing this post so many times, it’s unreal. Every time I wanted to post an update, I’d reconsider, thinking enough progress hadn’t been made.
The entire premise of this blog is based on my journey to pay off debt. The ways I’ve been trying to make money on the side, and pursuing side hustles, in order to do that.
But somewhere along the line, your priority list gets a little jumbled. And you forget what it was you were originally setting out to do. Which isn’t to say the debt journey documentation has ended, by any means. In fact, if anything — its existence has extended even further.
Not because we’ve added anything significant to our existing debt. But because we’ve been doing a cr*ppy job (in my opinion) of paying it down successfully.