A wise man once said, “He who is not contented with what he has, would not be contented with what he would like to have” Socrates I preface that to begin our ‘stupid tax’ story on how we descended into our debt spiral that ultimately affected our family. EARLY YEARS First off, both of us were products of broken homes where there were no father … Read More
THERE IS TROUBLE AHEAD According to recent data released by the Federal Reserve Board , delinquency rates for credit card debts in the fourth quarter 2016 rose to 2.34% and is slightly higher than what they were in the same period for 2015 which is 2.16%. In a similar report posted by moneytips.com taken from recent American Bankers Association (ABA) data state that; “credit card … Read More
DEFINITION According to Merriam Webster’s definition, DEBT is an ‘Obligation’ or something ‘Owed’. It’s an oversimplified definition that in today’s world has lost its true meaning due to big business’ efforts in the last 60 years to make it mainstream, acceptable and ‘normal’. People don’t realize that debt is really an ‘obligation’ that in most cases turn into a great burden. You can’t turn … Read More
When people with money meet people with experience, they end up with your money and you end up with experience – Anonymous Ever since embarking on this journey, i naturally had to research a whole lot of money matters, which i should’ve done at the front end of my working career, but enough said 🙂 Now that i’m in this hole, i can safely say that i discovered and … Read More
TIPPING POINT Okay, so first off, I hate to admit, but I’m drowning in debt, $124K plus worth, $111K plus of it in credit card, student, and car loans; and a $13K personal loan from my Mom 🙁 It was a sobering moment after I downloaded the CreditKarma app as it showed me just exactly how deep we were. The first reaction was RAGE, then despair set … Read More