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.

Using the Debt Snowball Method to Turn Your Financial Life Around

Using the Debt Snowball Method


The Power Within

This next post was written by my colleague Mr. SR, who blogs at He shares his financial knowledge and experience on debt payoff strategies, and how each one can work for you.

What I found particularly interesting about this article were the emotional and psychological effects of both having debt, and paying it off. Because while the base concept is purely mathematical, the accompanying factors have such a personal and emotional impact.

Which I guess is why so many people say “personal finance is personal”. But if you’re not familiar with the “debt snowball” or its alternatives, read more below. There are some fascinating nuggets of information that tie back to science, which you won’t want to miss!

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Should You Purchase a Home When You Have Debt?

Buying a new home with student loan debt


Here’s a topic that’s prevalent with so many educated professionals today. Managing student loan debt, while trying to move forward in your life.

You spend many years honing your skills to begin a highly coveted career in your field of choice. You finally earn the degrees and certifications to get started on your path. And the next step on that path is establishing a place you can call home.

But with all of that student loan debt you are now accountable for, can you afford to buy a house? Should you take on a mortgage, when you already have mountains of student loan debt looming over you?

This next post will go over all of that and more —

Jeff at Debt Free Doctor shares this in-depth analysis into both sides of this important decision.

The following article was originally published on The Money Mix, and is being republished with permission.


Buying a House When You Have Student Loan Debt

A topic about mortgages appeared recently on Dental Town, which is the world’s largest online community for dentists. The post discussed a video (see below) in which the wife of a recent dental school grad called in to get some advice on whether she should pay off their student loan debt before buying a house. In typical Dave Ramsey fashion, he aggressively answered her question.

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Why, Oh Why, Can’t I Be FI?

Pursuing Financial Independence - When You're Currently in Debt

In Pursuit of Financial Independence

I attended a meetup last weekend for the local ChooseFI group I belong to. It was actually more of a presentation. The group tries to do several throughout the year, balancing out educational with social. Yesterday’s presentation was about the recent tax changes.

Since I’m in the midst of doing taxes for all of my family members, I figured it would be worth it to attend and see if I could glean a few pointers from the discussion.

Also, I’m trying to make myself attend more of these events, to try to be more social. Because a discussion on taxes is clearly a social excursion …

But given the fact that I work from home, I can sometimes go a full week without ever leaving the house. I’m a homebody, and don’t see the need to go out just to go out.

Some people think that’s weird. I know it’s just the way I’m most comfortable.

Since making the conscious effort to co-mingle with the human race, I’ve found this local chapter of Choose FI to be a great place where I can interact with others. We’re all interested in money topics, and I don’t even need to say anything if I don’t want to. I can just sit back and listen.

Because I’ve met many group members who know A LOT, and are more than happy to share their knowledge. Which is really helpful, since this whole FI (Financial Independence) concept is still fairly new to me.

But a funny thing happened as the meeting was commencing and we were going around the table doing introductions.

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Things To Know About Debt Consolidation

Debt Consolidation - Is It Right for You?
Debt Consolidation – Is It Right for You?

Thinking of Consolidating Your Debt? 

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.

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