The bill to regulate certain credit card policies has now passed through the Congress. Why is Congress regulating credit card companies? Because, they recongize the abusive consumer practices that credit cards perform each and every day, yet we still continue to use them. Here is an excerpt from the article from Fox [...]

What is the debt cycle?
The process of spending more money than you make on a consistent basis that forces you to borrow money each month to reconcile the deficit.
How To Get Out Of The Debt Cycle

Cut up your credit cards. It’s the only way to stop using them. If you eliminate [...]

I don’t know what to tell you. Even Warren Buffet has lost confidence in our economy. Much of the country is not paying attention to the fact that we are 10 percentage points away from nationalizing a bank, the government pledging about $1.5 trillion dollars in 6 weeks, and the largest insurance company [...]

The best thing you can do for you and your family during this economic recession is reduce the risk in your life. This is not the time to be taking uncalculated risks with your money, your career, or your future. Here are three ways you can reduce the financial risk in your life [...]

Over the past few years with the credit crisis, our government has finally started to realize that credit card companies will do anything and everything to hide their unscrupulous practices, terms, and conditions. As part of a credit card regulation reform, credit card companies will be required to change the look of their credit [...]

I ran across this eight step plan rolled out by Charles Schwab to help others prioritize what to do with their money. Here is the list:
1. Contribute to your company’s retirement plan at least up to the amount of any match offered.
2. Pay off non-deductible, high-interest debt, such as credit cards.
3. Create [...]

A Money Crasher’s reader recently sent me a message about a credit card balance in collections. I thought that you all would benefit from his/her question and how I answered it.
Question:
I have a credit card debt of a little of 8,000. It went to collection, and I just don’t have the [...]

When I was a kid, if I was at the store with my mother and I pointed to a big ticket item that I wanted, she woud reply, “We’d have to put that on layaway to afford that!”. I didn’t really know what “layaway” was, but then she explained it to me when I [...]

Should I Sign Up With A Debt Consolidation Service?
It depends. First, identify your financial goals. What led you to thinking about signing up with a debt consolidation service? A credit counseling agency or debt consolidation service does not wave a magic wand to reduce your debt. Good ones will [...]

One of the biggest changes you will see from the fallout of the Wall Street meltdown is banks severely tightening up on their lending practices. Not only will you have a harder time getting a home loan, but you’ll have a much harder time getting a car loan, line of credit, and home equity [...]