I’m sure if you’ve done any digging into paying off debt, you’ve run across the two most common methods of paying off debt – the Debt Snowball and the Debt Avalanche. Likewise, I’m sure you’ve seen advice from quite a few money management gurus telling you why one or the other is the better choice….
Author: Money Over Coffee
Student Loans Part 2 – Repayment
Student loan repayment has resumed after a temporary hiatus due to the pandemic. But did you know that even though your first payment isn’t due until October, your interest has already started accruing? Now that we’ve taken a closer look at student loans and the way that interest compounds on them, we’ll dive into repayment…
Student Loans Part 1 – Why is There a Debt Crisis?
13% of the American population has some form of student loan debt as of 2023; are you one of those roughly 45 million Americans? Are you struggling to get out from under the debt you found yourself in after graduation? You’re not alone! Before we dig in, I want to congratulate you on taking the…
The Psychology Behind Paying Down Debt – And Sticking to It!
Have you ever heard of Dave Ramsey’s Baby Steps? The theory behind it is simple – follow the baby steps to become a millionaire. All you have to do is save up an emergency fund, pay off all your debts, and then voila! You’re wealthy! So how come all of Dave’s followers aren’t millionaires? Because…
Do I Need An Emergency Fund?
Surprise! Your car just broke down and needs $1500 worth of repairs. Do you have the cash available to fix it today so you can get back on the road? Or will you be asking a friend to front you the cash and you’ll promise to repay them? Having an emergency fund saved up can…
Building Your Credit
Lately, Americans have been divided by different generational ideas surrounding credit scores. Some think you don’t need one at all, some think your score doesn’t matter, and others believe that a good credit score is a necessity. Let’s look at some of the reasons why… No Credit If you don’t have a credit score, you…
Change Your Mind, Change Your Money
Do you continuously search “creating a budget” or “stop living paycheck to paycheck” but still find yourself in the same old routine? Are you having trouble breaking old patterns, creating new habits, and getting on the right track? YOU’RE NOT ALONE! Let’s look at some numbers… What does this mean for you? This means that…