Tag Archives: debt reduction

Common Misconceptions Concerning Your Debt

Credit card debt is something that most Americans can relate with far more than they would prefer. Most have seen their credit card debt rise over the past few years or, at the very least, know someone who has. Racking up the charges on those credit cards just seems to come way too easily to most of us. There just seems to be an allure to buying when we don’t have to actually part with any money at the time of purchase, yet we still get to walk away with whatever it was that caught our eye. That’s the allure of instant gratification! Most Americans understand a credit card isn’t free money; that there will come a day when we have to pay, but that thought doesn’t seem to be foremost in our minds when we are paying for the purchase with that card. But one of the biggest misconception of absolving ourselves of credit card debt is that by simply making the minimum payment will get that debt paid off. The cold hard fact is that this is so unmistakably false. By paying off your credit card debt that way you are only paying interest and the debt will never go away. Continue reading

Wealth Building 101 – The First Step

How many people do you know who never give any thought to money except to complain about the lack of it? Where does one learn about money management and the accumulation of wealth? The unfortunate reality is that unless you were blessed with parents who really understood the financial principles that work, you probably weren’t exposed to wealth building strategies. Continue reading