Debt and Credit
« Previous EntriesConsumers, Lenders, and New Year’s Resolutions
Thursday, January 1st, 2009I don’t plan on writing much today as I suspect that most computer users are either hung over, watching football, trying to lose weight, or cleaning up all of the holiday mess.
Mr. ToughMoneyLove has been informally surveying New Year’s Resolutions posted by various internet users, particularly in the personal finance world. Even the federal government has [...]
The College Student Debt Machine: A National Disgrace
Monday, December 8th, 2008With so much consumer and mortgage debt having been accumulated in the U.S. over the past 10-20 years, it was inevitable that those who have become addicted to credit would create a separate feel-good category that they like to call “good debt.” Student loans are often touted as being “good debt.” In this regard, Mr. [...]
Living Within Your Means and the Marital Allowance
Friday, December 5th, 2008The mainstream media is now chock-full of stories about married couples having to tighten their belts to “live within their means.” It is interesting that these stories are only recently becoming popular because not living within your means is a problem whether the economy is in good shape or, like now, in terrible shape. But reading a [...]
Personal Finance Education: What’s Wrong with this Picture?
Tuesday, December 2nd, 2008My local paper ran a lifestyle piece yesterday titled “Use Santa to Teach Lesson on Money.” The writer of the article quoted Susan Beacham, the founder of MoneySavvyGeneration.com. I had never heard of this web-based organization, but being a big proponent of personal finance education, I thought I would take a look to see what [...]
Paulson Has a Christmas Gift for Credit Addicts
Tuesday, November 25th, 2008Please Mr. Paulson - wake me out of this Bad Consumer Credit dream.
I almost fell out my chair this morning when I saw this headline from the Wall Street Journal: “New Facility Targets Consumer Lending.” It seems that the U.S. Treasury is starting its own clinic for consumer credit addicts. But instead of handing out Dave [...]
Bank Regulators Push Back Against Credit Card Junkies
Thursday, November 13th, 2008The credit card junkies (credit card abusers and their bank enablers) smelled bailout blood in the water and decided to strike. They asked Federal Bank Regulators at the Treasury for some favors. First, the banks want to write-off billions in credit card debt (up to 40% of unpaid balances). That in itself is not a problem [...]
Circuit City to File Bankruptcy Tomorrow?
Sunday, November 9th, 2008At church this morning, a friend told me that Circuit City would be filing for bankruptcy tomorrow (Monday). He works for a company that supplies product to Circuit City and, according to him, his company had received notice of the impending filing directly from Circuit City. Of course, many pundits have been predicting that bankruptcy [...]
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