Hello and welcome to another Personal Finance Minute, where I answer your questions about personal finance in 60-seconds or less. Today’s question is… What is the debt snowball method? Prefer to watch? This article is available in video form as well! The debt snowball method is a strategy for reducing debt that puts psychology before…
Category: Loans
If you’re wondering how to pay off credit card debt fast, then consider the debt avalanche method. The debt avalanche method is a strategy for reducing debt that puts math first. If you’ve got multiple debts and are current on all of your payments, it can be a great way to become debt free. To…
Being in debt sucks. There’s nothing worse than paying all those interest charges each month when you could be spending your money on something else! Today I’m going to show you how interest is calculated to help you understand how much your debt is costing you each month. Would you prefer to watch instead of…
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What is a Payday Loan
Payday loans are short term loans that you pay back in full on your next pay day. To get one, you go into a payday loan store, provide proof of employment, and write a check to the payday loan store for the amount you wish to borrow plus fees. On your next pay day, the…
If you ever need cash, but you’re only carrying a credit card, you can get something called a cash advance. A cash advance is when you get cash from a bank or an ATM, but instead of withdrawing from a checking or savings account, you’re charging it to your credit card. This can be really…