Personal Finance Advice

Financial responsibility is a crucial part of the college experience, yet some personal finance skills remain foreign to students as they prepare for college. Parents have the task of preparing their children for a new financial world and they can do that by discussing the pitfalls that come with being on their own. Do you [...]

In writing this column, one of the things that I see frequently in the comment trail is an argument about what counts as being debt free. Some people argue that debt free means freedom from consumer debt such as credit cards and car loans. Keeping a mortgage, whether for a personal home or a rental [...]

By Maggie Ellis It is widely taught in financial education that there are only two kinds of debt that can be considered “good debt”: A mortgage and student loans (as long as they aren’t beyond your ability to repay comfortably). We’re always taught that it’s okay to go into debt to buy a house or [...]

An acquaintance came to me the other day and told me a sad story. She has been unemployed since December and unable to find work. Her husband also lost his job around the same time and although he has since found another, they went four months with no income and his new job pays considerably [...]

Several financial experts (most notably Dave Ramsey) preach that, if you want to become and remain debt free, you must not use credit cards. Ever. Their reasoning is that, a) it is too easy to get into the debt trap when using cards and, b) that you spend more money (around 25% more) when you [...]

If you are at all interested in finance, you’ve probably heard that it is necessary to be debt free in order to build substantial wealth. While a few gifted investors manage to build wealth while having a lot of real estate debt (think Trump) or debt that finances a business venture (think the people who [...]

By Maggie Ellis, guest writer I know many people who are followers of Dave Ramsey’s financial advice. Since the economy has tanked, it seems like I’m seeing even more people joining the Dave bandwagon, looking for a way out of the financial messes that they have gotten themselves into. His “Total Money Makeover” and the [...]