Monthly Archive: March 2012

Is CCCS or Debt Management a Good Plan?

During my tenure as a debt collector, I worked with debt management companies and CCCS agencies quite a bit, albeit a bit indirectly.  However, I learned several things about what those companies do to help consolidate loans and the role they play in restructuring personal debt.  Especially when it comes to credit cards or other …

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Debt Consolidation: Can You Borrow Your Way Out of Debt?

debt consolidation sign

The idea of debt consolidation is pretty simple: combine a bunch of small (usually high-interest) bills into one bigger loan, with the goal of having a debt consolidation loan that offers a lower overall required minimum payment vs. the smaller ones combined.  Debt consolidation companies aren’t all bad – they offer a truly marketable service.  …

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My Top Ten Personal Budget Tips

If you’ve been around me much, you already know I’m all about a personal budget.  You may tell me you have a marriage problem and I’ll tell you to do a personal budget.  You may tell me you have problems at work and I’ll tell you to do a personal budget.  It is the closest …

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Decision of Buying a Home or Renting for a While

When it comes to deciding whether you are going to buy a home or rent, there are two major schools of thought.  The first is that any money spent on rent is money thrown away.  The other comes from those who will say you should rent until you can afford to buy (if you ever …

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Emergency Fund Planning and a Simple Emergency Fund Calculator

I want to spend some time talking about the most boring (and maybe the most important) aspect of your financial plan – an emergency fund.  Let’s consider a scenario.  Your boss walks in and says you’re being laid off.  You’ll get two weeks of severance pay and that’s it.  What do you do?  What will …

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