Search Results for: debt

Can You Save for a Mortgage Down Payment With Student Loan Debt? 

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Tips Saving Down Payment and Buying A House With Student Loan Debt

According to Mother Jones, the median income for Millennials has decreased by 10% since 2000 while average home prices have increased significantly from where they were in 2000. This massive gap is caused by a combination of stagnant (or even deflated) wages and a housing market roaring back to life after the 2008 era crash. It is often preventing many people under 35 from being able to purchase their own homes. Student loan debt isn’t helping either. But, should you consider saving for a down payment and buying a house with student loan debt still hanging over your head? The answer may surprise you! But, sluggish income growth and unaffordable homes aren’t the only things holding younger potential homebuyers back. The average … Read more

7 Steps to Paying Off Your Credit Card Debt in 2019

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Paying Off Credit Card Debt

The following is a guest post from Conor Richardson, CPA is the author of MILLENNIAL MONEY MAKEOVER: Escape Debt, Save for Your Future, and Live the Rich Life and founder of MillennialMoneyMakeover.com, where he helps Millennials master essential money matters. If you’d like to submit a guest post to Money Q&A, check out our guest posting guidelines. Americans love credit card debt. The heady elixir of easy money is hard to resist. But as you enter into the New Year, carrying over a credit card balance from the previous year can sometimes make for a nasty financial hangover.  With the average US credit card holder holding a balance of $5,839, it might take more work than you realize. How to Pay … Read more

Payitoff.io Review–The App that Motivates You to Pay Off Debt

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You’ve probably already heard all the shocking facts and statistics about student loans nowadays. There’s a $37,000+ average debt load per graduate, hundreds of thousands of graduates in default on their repayments, family members struggling to help students repay their loans, student loans forcing people to forgo homeownership and even starting families. Enough is enough. Instead of getting too caught up in the bad news, let’s start focusing on some realistic solutions. That’s what Payitoff.io wants to do. Their goals is to help college graduates and their families make the savviest financial decisions regarding their student loan repayments. Even if you made mistakes on your FAFSA, borrowed more than you needed, or can’t keep up with your current payments, Payitoff.io … Read more

Trying To Manage Your Debt? These Options Are Available In Scotland

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Everyone experiences portions of their lives when they fall on periods of financial hardship, and many of us have no idea what to do when this reality comes to roost in our lives. This guide was put together to suggest some of the most common methods of dealing with indebtedness and how to get the help you need to meet this challenging time. Seek Out Free Debt Advice No, this doesn’t mean you should speak to your friends and relatives about what to do with your financial situation. Aside from being embarrassing, it’s also likely they aren’t trained financial professionals and may give you advice based on rumor and speculation.  Instead, use one of the many free debt advice groups … Read more

Top 3 Easy Ways to Protect Yourself from a Debt Ceiling Default

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US Capital building in Washington DC

If the US Government does not raise the federal debt ceiling limit by its deadline, there will be serious repercussions felt throughout the American economy and around the world.  Many people are fearful of the results that could take place if the debt ceiling is not raised. But, there are several things that you can do in order to ensure that your personal finances are in order should the United States government default on its debts. How To Protect Yourself from a Debt Ceiling Default Stick To Your Budget One of the best things that you can do if the United States government defaults on its debts because of failing to raise the debt ceiling limit is to stick to … Read more