If you’re battling credit card debt, you might wonder how bad it can get. Borrowers sometimes express concern that unpaid credit card debt will land them in jail. What is the quick answer? No, you cannot go to jail for just credit card debt. However, this does not negate the terrible repercussions of failing to…
New Year, New You! As each year ends, setting resolutions to improve our lives is common. While goals like getting healthier or learning new skills often top the list, one of the most impactful resolutions you can make is reevaluating your financial situation and working toward debt-free. Starting a debt-free life may seem daunting and…
Have you ever seen those dramatic situations in movies where someone becomes caught in quicksand, with each struggle drawing them deeper? It’s a scary metaphor for how difficult some of life’s issues can be, particularly debt. When trapped under a mountain of credit card bills, it might feel like quicksand: stifling, overwhelming, and challenging to…
“Cash or credit?” Credit cards can be a lifesaver when cash is tight, or your paycheck is still a few days away. They offer a convenient way to cover unexpected expenses or manage your finances in the short term. However, while credit cards can be beneficial, they also come with risks. If not managed wisely,…
Credit card debt is a reality for millions of Americans, spanning every generation and walk of life. From families trying to manage rising living costs to college students covering tuition gaps, debt has become an all-too-common burden. When it comes to credit card debt, Americans lead the pack globally. It’s no surprise, considering how easy…
Debt often gets a bad reputation, but not all debt is equal. Some people view any debt as a burden, while others recognize that debt can serve a purpose depending on its use, the terms involved, and the potential benefits. Taking a more nuanced approach allows you to differentiate between “good” debt, which can help…
Credit card debt continues to be a significant challenge for many Americans, with balances reaching $1.14 trillion in the second quarter of 2024, according to the Federal Reserve Bank of New York. For households with credit card debt, the average owed was $21,367 as of December 2023. If you’re feeling the weight of credit card…
Being debt-free isn’t just the American dream; it’s a universal aspiration that many strive for. But can that dream become a reality? Is it truly possible to be completely debt-free? The answer is a resounding yes! By adopting the right mindset and strategies, anyone can learn how to become debt free. It’s not just about…
Have you ever purchased something online or subscribed to something with a long list of terms and conditions and then clicked the “I accept” button without reading it? That happens to the best of us, and unfortunately, it occurs when we sign up for a credit card. Credit cards come with numerous terms and conditions.…
Debt has become common in many people’s financial lives, particularly in the United States. While it is sometimes seen as a natural part of maturity or even a rite of passage, it is vital to understand the implications of excessive debt. Statistics suggest that a large proportion of Americans are in debt. It is estimated…
