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Book Club: Napkin Finance Week 1 - An Intro to Budgeting

Nicole D.
Hey, everyone! I hope you’ve all had a chance to pick up a copy of “Napkin Finance” by Tina Hay. Even if you haven't, the book covers so many different aspects of personal finance and I welcome you to join in on our discussions! For those who are reading: How are you liking the book so far? I really like how “Napkin Finance” uses graphics to illustrate different financial concepts. The “fun facts” and “key takeaways” in each section are super helpful and interesting to me. I also appreciate...Read More...
Thank you!Read More...
@Burgandy , Rachel Cruze's new book is definitely one I want to check out! I'm so interested in the topic of knowing one's money mindset. Glad you're enjoying it!Read More...
Last Reply By Burgandy · First Unread Post

Topics

Struggling to pay debt or going bankrupt

Judy Aquino
This is my first post. I'm seeking advice around debt and bankruptcy. I've gotten into a situation where the money I make can no longer pay all of my bills. I've been trying to find a second job but having a difficult time. Has anyone been in my position and if so, when do you know if you should go bankrupt? Is there a free organization out there that can help me figure out what to do? TYIARead More...

Helping Covid-19 Victims

Beth Hawthorne
I work at a federal credit union and i have seen COVID-19 wipe-out people's savings. They can't make they loan payments, which plunges their credit score. CATCH 22...You know when this first started in March 2020 or so.... I told my boss that I wasn't so worried about the virus, I was worried more about the fallout at the end...I believed that the gov't wasn't handling it correctly and I still don't....The virus didn't throw us under the bus is the economics dept... the gov't did that....I...Read More...

Eviction on credit report

Not broken yet
While living with my ex, we were evicted out of our apartment. Short and gist of it is that we were charged with repairs to the property disposable items and non-payment. Now after going to court we won our countersuit stand we're not evicted, but was still asked to leave and he's charged with ridiculous fees. The deposit was still withheld from us, and everytime I look on my credit report the bees get higher and higher. I've tried to pay it off but I cannot get an accounting of any and all...Read More...

Can't afford car loan

Judy Aquino
Hi, Has anyone ever been in a situation where you can't afford your car payment any longer? I am in that situation and I don't know if I should call the bank and voluntarily surrender it. I'm not sure exactly what I should be doing. TYIARead More...

Student loans & 401k

Eric7Giants
I am 38 years old and am in my last term before graduating. I am wondering if it would be wise to withdraw from my 401k to pay off my student loans since the current CARES act waives the 10% fee. Currently, I have 63k in federal student loans at an average interest rate of 5.05%. At my current job, I have around 125k in my Vanguard 401k.Read More...

Ways to clear off my credit card debt?

Michelle Cortez
Hi my name is Michelle and I am seeking help on how to clear off my credit card debt? Since the pandemic started I have lost my job, been on unemployment and struggling to clear off my credit card debt. It is not a lot but it is hurting my credit score and report right now. My debt is around $300- $400. Not to mention, now with the holidays and having to buy gifts for my children, it has almost become impossible to pay off. My debt is with Credit One and if I don’t pay it off, it will keep...Read More...

Collections

Please give me advice on how I should best move forward. I honestly thought I paid off a loan froma store 3 years ago. I wa very shocked to see a collections service on my Equifax. The original amont was around 400. Now with interst, it is close to 700. I cannot pay this. I am laid off. If I make a deal with them to pay some if it to close the debt, I think that will show on my equifax for 6 years from the date of the deal arrangement. I think if I just wait 4 more years, it is cleared from...Read More...

Debt & Moving

Hi all, longtime reader/new community member seeking advice for handling debt while I need to move: I recently decided to work with a company to consolidate my CC debt with a personal loan. This is a huge weight off my shoulders because I had a particularly bad 3 years (2019 year being my worst yet) when it came to my mental health and personal finance that sent me spiraling to 20k+ in debt (interest payments were the main problem). As I'm sure you know or possibly even can relate, this...Read More...

Very Old Debt

Rick Campbell
I have a question. If a person has a very old debt that has been purchased by 3rd party collections. The debt is so old it has already fallen off their credit report. Can the collections agency do anything other than harass you or can they actually go for a judgment and still collect the debt? I thought after such a long time and already falling off credit reports that was the end of it. Or is a debt collectable regardless of how long its been? ThanksRead More...

Charge Off Inquiry

marcdjones
I have 2 credit card accounts that were charged off back in May 2017 and are currently on all 3 credit bureaus. I would like to know what is the best way to contact the companies that have purchased the debt so I can negotiate a pay down and have them remove it from my credit reports. Any guidance will be greatly appreciated.Read More...
Here's the US News article showing the increase in total student debt for graduates over the past 10 years. What's even worse is those numbers don't reflect the 40% of students that never finish their degree. I'm sure the total number would be even worse. If you or someone you know is considering college here are 5 tips you can use to set yourself up (at least financially) before you go to school. If you don't feel like reading, here is a video I made explaining the steps Understand your...Read More...

Paying Off Debt Fast

A Penny Pincher's Guide
Remember, there is no trick to paying off debt fast, BUT you can pay it off more efficiently and ultimately pay less in interest. Make sure your extra payments go towards the principle ONLY https://youtu.be/SeQ7xLVeanIRead More...

Debt Relief

Hello. So I have about $25,000 in credit card debt on 1 card. $13,000 has an interest rate of 2.9% until 12/31/20 at which point it goes to 9.9%. The remaining $12,000 has an interest rate of 2.9% until 12/31/2021 and then goes to 9.9%. My FICO credit score is 730 and I'm current on all payments and have been paying more than the minimum balance especially since COVID began and cancelled many things I would spend my money on. I signed up for that AM-One thing the penny hoarder sent out just...Read More...

Online Banking

Cat Nichols
Looking for online banking that would help us consolidate all our debt and income into one bank account--is there such a thing? We have six direct deposits a month and tons of auto bill pays spread over three different accounts & pay periods...searching for a way to make it easier to keep track and maybe get a break on interest too.Read More...

Student Loans at Navient

Tanya062
Navient does not allow any deferrments during covid19 as approved by our federal government. I owe $77K. Any ideas for how to reduce this or pay it off quicker? I'm only paying on interest now and want to get rid of it, finally. I am now fully retired with significantly reduced income.Read More...

School loans

My school loans are offering zero interest and forebearance for a set time (thru December, I think). Although I've continued to make the payments, maybe I should take a few months off and use that payment towards reducing my credit card balance. Thoughts?Read More...

credit card debt

Steve Hofmeister
My bank has threatened to close my account because of my credit card debt. I want to make payments, What card is out there that I can apply for to start paying off these debts and hopefully work with the bank on a decreased amount that I owe. Thank you for any help or suggestionsRead More...

Debt from 2005

Audrey Cash-Ford
Hi I received a letter regarding debt from 2005 from Washington Mutual Bank. It stated I owe them $2000.00. This is a debt from 2005 15 yrs they should not asking for that s now. What should we do?Read More...
I had an extended period of unemployment and lived off of credit cards for a while. I have $17,000 in credit card debt at 13%, and another $8,000 at 0% with intro ending in March. I was close to 50% in credit card usage a month ago, but card companies dropped my limits by a total of $10,000 last month. This will leave me around 70% in credit card usage. Though I am 100% on on-time payment, my credit ratings among the three bureaus range from 570 to 650. I am now employed and can pay back...Read More...

Should I use my savings to pay off student loan debt?

Ann Hay
Hi. First time posting. Thanks for being a great resource. I finally paid my student loan down to the point that I actually have enough savings to pay it in full. I have been debating whether to use my savings or just continue to pay on them. Right now I'm paid ahead six months so the majority of my payments are going towards the principal. Any opinions? Advice? Thanks so much.Read More...

Getting a loan without a job

Andrew Riley
Hey, I've been looking into a loan to pay off credit card debt, but given the current circumstances of the pandemic, both my wife and I are unemployed. She's on unemployment, but working as freelancer, and I'm waiting for my contract work to pick back up. Are there ways of getting a loan even if you don't have a job? I know they need to see that you're getting money somehow, but I wonder if someone knows which lenders will be okay with that. Thanks!Read More...

7 Apps That Help You Build A Savings Account

jannat ali
Start conserving now without ever checking out the bank. Working up an investment savings account is one of the toughest things to do on a tight budget. Wait, you expected to pay off your bills, settle your debt, and create a rainy-day fund? It’s a lot to ask. Not surprising that 63% of Americans don’t have enough to cover a $500 or $1,000 emergency. Without an investment account, you may need to smack down your Visa to change a blowout, which can be much more expensive if you can’t afford...Read More...

The Snowball Method for Paying Off Debt

Moore Income
I am curious to know if anyone here has used the Snowball Method for paying off debt and what the results were. I personally have done it a little differently (more like the avalanche method), only because certain credit cards I owe on are still under a "no interest" sign up bonus. To me the snowball method seems like a pretty effective way to do it. What are your thoughts? Have you tried any of these methods? What are some helpful tips you have used to pay off debt?Read More...
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