Debt

Why Student Loan Repayments Won’t Tank The Economy

One of the concerns about the resumption of student loan payments is that it could tank the U.S. economy. Paying back student loans may cause consumers to reduce spending to the point of causing another recession. About 43.4 million Americans have federal student loans, collectively amounting to $1.63 trillion of debt, according to the National […]

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Entitlement Mentality Is A Sneaky Wealth Destroyer

After a three-year COVID pause, student loan interest will resume starting on Sept. 1, 2023, and payments will be due starting in October,” according to the Department Of Education. “We will notify borrowers well before payments restart.” Given the pandemic was officially declared over on May 11, 2023, it makes sense that student loan debt should

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Debt Ceiling Debacle: Why Not Just Spend More Responsibly?

Not raising the debt ceiling could cause another sell-off in the stock market. If so, history has shown it is worth buying the dip as politicians eventually agree to raise the debt ceiling limit and curb some spending. However, have you ever wondered why the government doesn’t spend more responsibly? After all, we individuals are

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Why The Ideal Income Is The Student Loan Forgiveness Income Threshold

Have you ever wondered what the ideal income is to live a comfortable life before retirement and after retirement? Well, look no further than the student loan forgiveness income threshold of $125,000 per individual and $250,000 per married couple. On August 24, 2022, President Biden unveiled a plan to cancel up to $10,000 tax-free in

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Lending Money To Friends And Family: How To Determine When It’s OK

One of my tennis buddies told me a funny story about borrowing money from his parents. He was 28 at the time and asked for a $30,000 loan to buy a condominium. Since his parents had the spare cash and weren’t making much from interest, they figured lending money to him was a win-win situation.

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Negative Real Mortgage Rates Means Don’t Pay Down Extra Principal

As a homeowner with a mortgage, the holy grail is having a mortgage rate below the 10-year bond yield. When you have this situation, it’s like living for free and you should not pay down extra principal. If you had the money, you could invest an amount equal to your mortgage into a 10-year Treasury

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The Average Credit Score In America Is Now Excellent

The average credit score in America is now 710 according to Experian. Back in 2019, the average credit score was 703. In other words, during a global pandemic, the average American improved their wealth and their financial health. Not only has the average credit score in America improved, the average saving rate has also improved

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Can Your Finances Withstand A Fed Rate Hike?

Can your finances withstand a Fed rate hike? The Fed Funds Rate (FFR) is at 0% – 0.25% to help combat the recession and global pandemic. However, now the Fed is aggressively raising rates to fight 40-year-high inflation rates. Usually, when the Fed raising rates so aggressively, risk-assets sell off. Therefore, it’s important to solidify

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Destroy Debt Quicker: An Easy And Painless Way To Be More Free

Do you want to destroy debt quicker? You’re in luck because I have the best way to destroy debt quicker and boost your wealth faster. If you haven’t noticed, we live in a consumerism society where we are bombarded by advertisements that compel us to spend on things we don’t need. Some things are definitely

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