What does being upside down on a car loan mean?
It means that you financed a car with little money down, and now you owe more money than the car is worth. This is very easy to do, because cars depreciate at a rapid pace for the first 3 years of their life. […]

Fed Reserve Chairman, Ben Bernanke, made a statement today in Richmond that struck me the wrong way. He said:
“We do not have the luxury of waiting for markets to stabilize before we think about the future,”
I think that he’s right about putting more strict guidelines on mortgage lenders to help weed out the […]

If you are a regular reader of this blog, then you know that I am a supporter of the teachings of Dave Ramsey. There are many bloggers out there who think that Dave Ramsey has too much of an “emotional” approach to personal finance and neglects the math behind personal finance. There is […]

The other day, I had the TV on in the background, and a lesser known morning talk show caught my attention when they were going to have a segment on helping a single mom get their financial life back on the right track. Of course, they disappointed me with focusing more on fooling with […]

Thanks to Consumerist, and this article they wrote about this new collection agency scam, and what you should do about it.
Basically, there are desperate collection agencies buying up zombie debts at pennies on the dollar, then tacking on an insame amount of late charges, interest and other fees, then “forgiving” the debt as […]

Disclaimer: I’m not receiving any compensation for this post, nor was I asked to review the site by Mint.com. I started using the site a couple of weeks ago, and I feel that their website will benefit the readers of Money Crashers in a big way.
I’m lazy, and I’m cheap. […]

( via The Consumerist )
This picture says it all. Credit card companies think so little of you, that they think they can lure you into applying for a credit card just to get a free two-liter of pepsi. They think all it takes to get you to sign up for their debt machine […]

Today, Bank of America announced that it would buy mortgage lender, Countrywide, for $4.1 billion in stock.
For some reason, I thought the largest sub-prime lender in the country would be worth more than this, but maybe this is just enough to make Bank of America the majority stakeholder in the company. Bank […]

The beginning of the year is always the best time to start a new habit, break an old one, and most importantly, set new goals. I know that New Year’s resolutions are very cliche, but they serve a good purpose. New Year’s resolutions usually fade away in March, but that’s because many people […]

Craig and Blaine, Money Crasher readers wrote in response to my post about Paying Off Debt and Saving For the Future At The Same Time.
Blaine Wrote:
We are on one income while my wife is in law school, and still manage to build up our emergency fund and make extra payments against our […]