Posts tagged as:

debt

What can you do when you are short of cash?

by Power SpendingTue Mar 01, 2011 Power Spending
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You’ve made a budget, and you are short of cash each month. There are only two ways to increase your monthly cash flow: You must either reduce your expenses, or increase your income.

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It’s not easy to instantly increase your income, so to generate extra cash, start by taking a look at your expenses.
Distinguish [...]

Tagged as: cut spending, debt

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Organize your work to be debt free

by Moneyproblems TipsThu Dec 02, 2010 Setting a Course to Be Debt Free

You need to organize your work well in order to come out of debt. If you keep a track of your debts then it would be easier for you to pay off the debt. Try to arrange your paper work then you would have access over your documents quite easily.
While paying off your debts [...]

Tagged as: debt, work

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Do not let the shadow of debt surround your relationship

by Moneyproblems TipsMon Nov 29, 2010 Setting a Course to Be Debt Free

It is not easy job to come out of the vicious cycle of debt, but be careful that the shadow of debt does not engulf your relationship. In order to combat this grave issue, you and your partner both needs to join together to get rid of it.
You need to compromise on major things but [...]

Tagged as: debt, relationship

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Know when to quit (or when to start)

by Moneyproblems TipsWed Sep 29, 2010 Financial Tune Up

How do you know when it’s time to look at formal options for dealing with debt? Here are some tips to know when it’s time to seek help.

You have to borrow money every month to pay your basic bills
You are making minimum payments on debt with borrowed money
You have debts in the [...]

Tagged as: debt, get help

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Don’t Borrow to Cover Daily Living Expenses

by Moneyproblems TipsTue Aug 24, 2010 Budgeting

Yesterday we discussed not kiting your credit cards, meaning don’t use a cash advance on one credit card to make the minimum payment on another.
Today’s tip: don’t borrow on your credit cards to cover daily living expenses.  There is nothing wrong with using your credit card to pay for gas for your car each week, [...]

Tagged as: borrow, debt

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Don’t Kite Your Credit Cards

by Moneyproblems TipsMon Aug 23, 2010 Financial Tune Up

Today’s Tip: Don’t “Kite” your credit cards.  Kiting is a term that means moving money from one credit card to the next.  You take a cash advance on one credit card to make the minimum payment on another, and then repeat in  reverse the next month.  Kiting simply increases the interest you pay.
A better solution [...]

Tagged as: credit card, debt

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Good Debt and Bad Debt: Is there a difference?

by Moneyproblems TipsFri May 21, 2010 Financial Tune Up

Traditionally “good debt” is money you borrow to purchase something of lasting value.  A house mortgage is thought to be “good debt”, because your house will increase in value.  Borrowing to contribute to an RRSP may also be good debt.
“Bad debt” would include all other types of borrowing, such as borrowing to go on a [...]

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Don’t Pay A Cent Can Be Very Expensive

by Moneyproblems TipsWed Feb 24, 2010 Money Saving Tips

Many retailers offer “don’t pay a cent” promotions, where you get the product today, but don’t have to pay for six months, or a year, or longer.  Sounds like a great way to get what you want today, but not pay for it until later, right?
Maybe.  If you are sure you will have the money [...]

Tagged as: debt

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Prioritize Your Debts: Pay Off High Interest Rate Debts First

by Moneyproblems TipsThu Dec 31, 2009 Money Saving Tips

If you spend less than you make you will gradually accumulate cash. For most people, any extra cash they make simply goes towards repaying their debts. But how do I know what debts to repay first?
Today’s Tip: Make a New Year’s Resolution to prioritize your debts for repayment. Here’s a quiz for you:
John [...]

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