Credit Cards
Today we all tend to use terms like "credit", "debt", and "borrow" almost as if they are the same.Home Loan
When considering the purchase of a home, we should apply the four criteria as for undertaking any debt loan.Debt Consolidation
The financial area of debt is clouded with more emotion, misunderstanding, and poor teaching than...Avoiding the mistakes of debt
The common mistakes in financial planning are all, in one way or another, related to debt..Mortgages
what you need to know before you sign
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Mortgage advice for couples
We have come to believe that owning a home is a God-given right. We have been trained as children to expect to begin their married life in a home it took our parents a lifetime to save for! Additionally, during the last thirty-five to forty years, and especially the years 1960 to 1980, a home purchased with a fixed interest rate was the safest an surest way to build personal net worth and equity.
Beginning in 1983, however, the "rules of the game" changed; inflation slowed down and interest rates went up - a direct reversal of these two factors from the previous twenty years. It has taken a while for our society to recognize this, and I don't believe we have, as yet, accepted it.
When considering the purchase of a home, we should apply the same four criteria as for undertaking any debt. However, the economic criteria are very difficult to nail downin today's economic environment. Even in period 1960 to 1980, there was not a guaranteed way to pay the debt except for returning the home back to the lending institution.
Jobs are not nearly as secure today as they were in the past. Inflation is certainly not a sure thing, and fixed low interest rates may very well be a thing of the past.
The psychological burden of home mortgage debt is more severe than most people think, especially if a woman whose center of influence and security is in her home is involved. Studies have shown that having mortgage debt is a stressful factor and that degree of stress relates to the amount of the mortgage.
Calculate your loan interest as well as your compounding interest with our calculators.
Free
financial tips
When God created the world, He chose not to
make a money tree...
Compounding
- and the Rule of 72
Money and possessions are a very effective
tool that He uses to grow us up...
Positive
cash flow
A positive cash flow margin is absolutely essential
if you are to accomplish...
Debt
free - finding a way out
The only absolute way to avoid the
use of debt, ...
Debt
Settlement
Money borrowed today has to be repaid tomorrow -
with interest, of course.
Credit
Counseling
Credit counseling Step 1: Eliminate all credit card
and consumer debt.
Bankruptcy
Personal bankruptcies - men and women financially destroyed by debt - is always
devastating.