Posts filed under ‘Debt’

Did you know that homeowners paid or will pay 580% interest in the first year of their 30 year mortgage?

Neither did I. But a Realtor in Mobile, Alabama wanted to enlighten the public and Dave Ramsey about this and tried convince us that United First Financial’s $3,500 computer software was worth every penny. (more…)

July 10, 2008 at 8:30 am 23 comments

Measure twice, cut once

I came across a blog this morning run by a twenty-something soon-to-be-graduated college student. He wrote a great post on what he currently does with his money and outlines some of his post-graduation plans. It’s rare to come across a 20-year old who thinks about money management let alone investing. He asked for some suggestions and advice on how he could do things differently, so I offered a few suggestions. I thought this might help someone else, that’s why I’m posting my recommendations here. (more…)

March 12, 2008 at 9:10 am 1 comment

Will you be debt free by 2009?

Becoming debt free by 2009 was one of our goals later last year. When we got the news that we’ll be adding another member to our family however, our goals changed. Our main goal now is to save up as much money as we can to prepare for the arrival of the baby. If things go well, we’ll simply drop the load of cash to the debt. (more…)

March 6, 2008 at 12:30 pm 1 comment

We’ve made a decision to stop our debt snowball — temporarily

To be honest, it wasn’t a hard decision to make. Currently, we have about $30,000 left in two student loans. We’ve been attacking mine aggressively, since mine is the smallest with $9,000 remaining. In fact, we planned on having it paid off by August. But, things have changed. (more…)

January 18, 2008 at 1:12 pm 3 comments

The ‘coming’ credit card crunch would be a good thing

After reading the latest article on SmartMoney.com about the looming crunch in the credit card industry, I am more convinced that it wouldn’t be such a bad thing. In all honesty, I welcome it. (more…)

January 7, 2008 at 10:55 am 1 comment

Gloom and doom in the U.S. economy is media hype

Everyone’s been hearing about the mortgage and credit meltdown in the U.S. and the media has been feeding on it like starving boas in a mice den. USA Today’s article yesterday, Bush: Economy is sound, despite credit woes is a prime example. (more…)

December 19, 2007 at 3:48 pm 3 comments

Be mortgage-free in less than half the time…really?

United First Financial is a fairly new MLM (multi-level marketing business) that claims to help people pay off their homes in half the time. I’m sure it works most of the time and sounds like a great idea, but there’s a catch. 3,500 of them. That’s right. It costs $3,500 to purchase propietary software that ‘helps’ you pay off your mortgage. (more…)

July 9, 2007 at 12:08 pm 4 comments

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