The Real Reason You Should Pay Off Your House (It’s Not Interest Rates)

pay off your house early

Is it wise to pay off your house? Most people would say, “no”… While I have always told you yes. But what are the reasons behind these answers? Does it actually make financial sense to pay the full term of a 15-year mortgage rather than trying to pay the debt off as quickly as possible?

The Real Reason You Should Pay Off Your House

Even after digging into all the numbers, I want to tell you up front that I’m still a firm believer that you should pay off your house early. It’s not as much of a slam-dunk as some hardcore traditionalists lead you to believe, but I still firmly believe it’s the best path to wealth.

Why am I bringing you this message like I’m fighting an up-hill battle?

It’s because I am.

The Interest Savings…It’s Not as Huge as it Sounds

You probably already know the main . . . → Read More: The Real Reason You Should Pay Off Your House (It’s Not Interest Rates)

3 Ways to Calculate Which Debts to Pay Off First

which debts to pay off first

Paying off debts can be a daunting task. Whether you find yourself knee-deep in credit card debt, struggling to make ends meet every month, or desperately wish that you could pay off those student loans, there is hope. Once you’re ready to tackle them though, how do you know which debts to pay off first?

3 Ways to Calculate Which Debts to Pay Off First

There are a few methods to determine which debts to pay off first, based on what your goals are and how immediately you need results. Understanding these methods will help you better tackle any debt.

1) In Order of Interest Rate

One method for paying off debts is to rank your debts in order of the interest rate. It makes sense to pay off the debts that are accruing the most interest first since those are the ones that can end up costing you . . . → Read More: 3 Ways to Calculate Which Debts to Pay Off First

5 Ways to Save and Get Out of Debt

ways to save money and get out of debt

Debt can make it impossible to live a normal and happy life. When you’re constantly worried about making payments and stressing about how you’re going to get out of debt, it’s hard to stay positive. Sadly, we live in a culture of credit, and most people are way too willing to make purchases that they can’t afford to pay off quickly. This leads to ever-increasing amounts of debt that can quickly become a nightmare situation. So why not think of ways to save and get out of debt?!

5 Ways to Save and Get Out of Debt

By understanding how to start saving money and committing yourself to paying off your debt, you can achieve financially freedom and stability. While it won’t happen overnight, if you stick with the plan, you can see a drastic reduction in your debt.

Here are 5 great ways to save and get out of . . . → Read More: 5 Ways to Save and Get Out of Debt

17 and Homeless to Completely Debt Free

homeless to completely debt free - depressed woman no hope

Kimberly Studdard has been writing for this site for a couple years, and until I started putting the pieces together just recently, I really had no idea what an amazing story she had. It’s not an easy one for anyone to tell, but when I discovered her struggles and now her successes, I continued to encourage her to put her story into print. I just know it will help so many others that feel helpless, overwhelmed, and incapable. You are stronger than you think. We all are. Kimberly went from 17 and homeless to completely debt free. If that’s not encouraging, I don’t know what is!

17 and Homeless to Completely Debt Free

“Hope deferred makes the heart sick; but when the desire comes, it is a tree of life.” – Proverbs 13:12

When people ask me how they could possibly pay off debt and live a . . . → Read More: 17 and Homeless to Completely Debt Free

You Have Been Doing It All Wrong – Here’s How NOT to Fight Off the Debt

how not to fight off the debt

With reports of Uncle Sam going into insurmountable debt doing rounds on the internet and IMF bearing witness to this conviction in its Global Fiscal Monitor report, you can’t help but fear a terrible fate. But as a matter of fact, you aren’t as helpless as you think. You can’t help the U.S in resolving its debt crisis with your master plan, but nonetheless, you are answerable for your debt and you can always work your way out of it.

You Have Been Doing It All Wrong – How NOT to Fight Off the Debt

You have got to admit that the Ghost Of The Recession Past (2008) still haunts you and while times are still peaceful, you must strive to get rid of debt because if the future turns out to be the way we are anticipating it to be, there would be no room left whatsoever to fight . . . → Read More: You Have Been Doing It All Wrong – Here’s How NOT to Fight Off the Debt

101 Reasons to Get Out of Debt

reasons to get out of debt

Your friend just paid off their car. Your brother-in-law just made the last payment on his student loan. And you know what? Even your co-worker just told you that he has no mortgage! How is it that everyone is winning at this financial game and you’re still deeply in debt?? There’s just one difference between you and them. They have clear, defined, hugely inspiring reasons to get out of debt. You don’t.

101 Reasons to Get Out of Debt

If you want to get out of debt, but don’t have that one solid reason to do it, you’ll never do it.

There are three emotions that move you: Greed Fear Anger

The best reasons to get out of debt are triggered by two of these emotions – fear and anger. If you’re freaked out about what your debt will do to you and pissed off about how it’s kept you . . . → Read More: 101 Reasons to Get Out of Debt

How to Overcome Medical Debt

bankrupt because of medical debt

If you are sick or have been injured, then you don’t need us to tell you that medical expenses in the U.S. are out of control – even if you have insurance. One of the problems with medical expenses is that it can be difficult to know where to begin and unfortunately many people choose bankruptcy as a way out. But it doesn’t need to be this way.

How to Overcome Medical Debt

Thankfully, bankruptcy is not the only the solution. In fact, more often than not, it’s the worst solution. Take a look at all of your options below. Give it a serious effort, and I believe that you can overcome medical debt and come out the other side stronger than you ever believed possible!

Keep on Top of Your Bills

While this can be easier said than done, one thing you want to do when going through medical . . . → Read More: How to Overcome Medical Debt

If You Really Want to Get Out of Debt, Stop Trying to Sell Those Poop-Stained Onesies

affect your car insurance rates

“Sell your CD’s, old books, clothing, and beat up kid toys to get yourself out of debt!”…proclaim many of the personal finance blogs out there… Sure, this will earn you some money, but in the end it’s hardly worth the 20 hours of effort to earn that whopping $40. Instead of selling all the crap that you never use and that nobody else wants, why not put in some real effort and sell the good stuff to get out of debt? I mean c’mon, if you really want to get ahead in life, to save up those college dollars for your kiddos, and to go on those vacations of a lifetime without selling your soul to MasterCard…if you REALLY want to get out of debt, it’s time to get real and sell all the stuff people acyually want (ie. make some REAL money – and fast!)!!

If You Really Want . . . → Read More: If You Really Want to Get Out of Debt, Stop Trying to Sell Those Poop-Stained Onesies

How Daniel Slayed $150,000 of Student Loan Debt in 5 Years

how not to fight off the debt

Since I’m pretty busy being a Dad, husband, financial analyst, self-proclaimed contractor (that recently failed miserably with crown molding…), and a writer for other prominent blogs, sometimes I just can’t keep up. Today is one of those days. Luckily, there are tons of others that are kicking tail when it comes to their finances as well! Daniel his one of those kick-butt stories. Check out his debt payoff account below!

How to Get Rid of Student Loan Debt (6-Figures Worth!) In 5 Years

In the winter of 2011, I learned that the love of my life had over six figures of student loan debt. She was starting her MBA holding a bachelor’s and a master’s degree in engineering and entering the professional workforce. Both degrees came at a price.

In the process of earning her degrees, she had racked up nearly $120,000 in student loan debt by the age of . . . → Read More: How Daniel Slayed $150,000 of Student Loan Debt in 5 Years

50+ Practical Ways to Pay Off Debt Faster [Free Tools Included!]

pay off debt faster

Laura Harris is a fascinating person with an even more fascinating story – debt free by 25, a stay-at-home mom on a super low income, and a self-made success in the freelance writing industry… When she came to me with the idea of writing this post, there was absolutely no way I was going to pass her up. Practical ways to pay off debt faster? Uhhhh, yes please. This is a topic that we’re all craving, and given the quality of the content below, I wouldn’t be at all shocked if this post is soon read by thousands (maybe even hundreds-of thousands) of people.

In 2012, my husband and I became debt-free. What we thought would take seven years only took two. We were shocked. It wasn’t because we made more than the average family. We learned if we wanted more freedom, we had to find as many ways as . . . → Read More: 50+ Practical Ways to Pay Off Debt Faster [Free Tools Included!]