Now you're
really getting into debt, may have trouble paying rent or your mortgage (you can't pay that on a CC), and life is not good.
Not exact matches
«I like to look at the balance sheet and I don't like
debt because it can
really get a company
into trouble.
Do you
really need to go
into debt to
get married — especially if you already have student
debt, as many young people do?
Is Steve Rhodes, the man who calls himself «the
get out of
debt guy»
really going to
get you out of
debt, or lead you
into more trouble?
If you
really got yourself
into hot water and you own a home, you could use your home as security for a loan to pay off your credit card
debt.
And
really, I've
gotten into the subject of personal finance and
debt out of personal interest.
Okay, so this one should be obvious, but just in case it isn't: Whether you've
got credit card
debt, a mortgage, or, ahem, student loans, funneling the money you save by throwing away less food
into paying down your
debt can have a
really big impact on your
debt repayment strategy.
If you are not
really committed to making on - time payments and changing the habits that
got you
into financial trouble, the cost and time for
debt consolidation may make the situation worse.
It seems like the first few years of adulthood we do a
really good job of
getting into debt (student loans, mortgages, cars, credit cards, etc.) and we spend the remaining 40 to 50 years of our life worrying about having to pay it off.
Both of us aren't
really great savers (wife had CC
debt and larger student loans when we met) and neither of us can
really stick well to a budget so how we make it work is I invest 22 % of my base salary
into investments (plus the 12 % I
get from my company) for 34 %.
In all these and considering that no one
really wants to be in
debt, why are people
getting into unmanageable
debt?
This series was awesome and
really got me motivated to pay down
into some savings at very least... My
debts are frozen right now so it makes sense for me to save until I can clear them in one swoop....
With all
debt, you should
really understand what you are
getting into.
There's a good chance that you will need to put some effort
into getting out of
debt, but that's
really ok.
Dipping
into your 401 (k) account never
really makes sense and is generally a last and desperate attempt by many to
get out of a
debt trap.
It's easy to think there's no point because my fund won't be big enough / I won't be able to survive on a low enough income, but sometimes it's
really about restricting the amount of
debt you have to
get into when the sh*t hits the fan (which it inevitably will at some point!)
I've never
really gotten into investing in
debt, but I've thought about it a lot.
This
really depends, initially the talk was about a flipper spending 9 months just to walk away with $ 10,000 to $ 15,000 pre tax profit (30 %); wholesalers (if legal in your state), make that without breaking a sweat and almost risk free — why spend 9 months,
get into 14 %
debt with a 6 to 12 month term just to make same amount?
I
got my emergency fund
into place and started
really working on the
debt.