Debt Education

Latest Guides

  • Financial Statistics on Consumer Debt
    Every quarter since 1980, the Federal Reserve has published the Household Debt Service and Financial Obligations Ratios that measure the ratio of debt payments to personal disposable income. See the financial statistics from these studies here.
  • Guide to Secured vs. Unsecured Debt
    Many people don’t realize it, but not all debts are the same. There are two basic types of debt – secured debt and unsecured debt. At the most basic level, the difference between the two is that one type of debt is tied to a piece of property while the other type is not.
  • Credit Card Debt Statistics
    See the 20 U.S. cities that owe the largest percentage of their paychecks to their creditors, and the average credit card debt and household income for each.
  • Good Debt vs. Bad Debt
    Debt has become as American as baseball and apple pie. And though most people struggle under the burden of their debt, not all debt is bad. In fact, there is some good debt.
  • Debt Help: You Still Have Rights
    You as a debtor have rights under the law. These laws are intended to help you become debt free. If you have already used, or are planning on using credit of any kind, or incurring a debt, be familiar with those rights. The road to debt recovery can be long and frustrating, but with the right debt help you can again become debt free. We elucidate 7 important rights credit consumers possess.
  • Finding the debt solution that works for you
    Vige Barrie recalls the endless phone calls from collectors. They were coming after the $60,000 she owed on more than 10 credit cards. The worst part: She hadn't even been the one saying "Charge it!" Her husband had made and lost millions of dollars, she says, and during the last few years of their marriage, she let him use her cards because he had declared bankruptcy....

Latest Blog Posts

  • The Wrong Way to Improve Your Credit Score
    When you're improving your credit score, avoid these mistakes that will slow down your credit repair progress.
  • These Days, Cash is King
    During this time of economic hardship, Americans have turned to behaviors shunned during times of prosperity. Brown bag lunches, bargain hunting and homemade coffee have all become more familiar sights. Perhaps we’ve finally learning to live within our means?
  • Tax Time Tips: Preparing Taxes, Refund Checks, Avoiding Audits and More
    Have you filed your taxes yet? If you're like me, the answer is "No." There's been some great tax-related stuff published in the past few weeks that may help to get you motivated for your 2009 filing.
  • Do You Know How Strong Your Credit Is?
    You may know how many credit cards you have in your wallet, and how much you owe on each. But do you know what your credit rating is? Or why this might be important? Here’s a quick guide to give you the skinny on credit.
  • How to Keep Your New Year's Resolution, Even after Optimism Betrays You!
    How are you doing on your financial New Year's resolutions? Working your way out of debt as you hoped? If you're faltering, don't worry! It's only February, and there are still plenty of ways to find the motivation you need to divorce debt in 2010.
  • Friday Grab Bag: Erase Debt Edition
    It's Friday again, and that means it's time for the weekly SpendOnLife grab bag! Today it's all about erasing debt. Here's a round-up of some tips and resources that will help you reduce, eliminate, or otherwise master your debt, no matter how big a hole you're in.
  • Friday Grab Bag - 1/22/2010
    It's Friday again, and that means it's time for the weekly SpendOnLife grab bag! Here we share some of the week's more interesting tidbits from the world of credit and identity theft. Enjoy!
  • moneyStrands: My Two Cents
    SpendOnLifer Ryan has been testing out moneyStrands, an online and mobile budgeting tool that adapts itself to your financial needs. See what he has to say about this creative personal finance manager and decide if it's worth trying out for yourself.
  • Weekly Grab Bag: Best of Black Friday
    Will you shop 'til you drop? Maybe you’ll hide in a cave until the madness has subdued? Either way, I’m sure you’ve put some thought into how you’ll spend Black Friday this year and you aren’t alone
  • Why Shopping on Black Friday Costs More Than Other Days of the Year
    Am I the only one who doesn’t get Black Friday? Think of all the hidden costs that are lurking on a Black Friday shopping expedition, and then ask yourself if it’s not cheaper to shop on other (less frenzied) days of the year.
  • Boom and Bust, Spend and Save
    BillShrink shares its perspective on Americans' spending and saving habits and offers a couple of recommendations for top credit cards.
  • SmartyPig Review: My Two Cents
    I learned about SmartyPig at the Finovate conference, and wanted to try the online savings account for myself. Here's how it works, and why it's different from other online saving tools.
  • The Haunting of Credit Mistakes Past
    How scary are your past credit mistakes? In celebration of Halloween, check out these classic ghost stories with some financial twists.
  • BillShrink.com: My Two Cents
    Who wouldn’t like finding new ways to spend less and save more in their financial endeavors? I tested out the BillShrink product this past week and tell you how effective it really is.
  • Friday Grab Bag - 10/23/2009
    It's Friday again, and that means it's time for the weekly SpendOnLife grab bag! Here we share some of the week's more interesting tidbits from the world of credit, personal finance, and identity theft. Enjoy!
  • How I Paid Off $20,000 of Debt While Still Having Fun
    Jesse Michelsen is a married IT consultant with two beautiful daughters and a passion for personal finance. Before married life, he accumulated consumer debt but is now following the path to debt free living. This is his story.
  • Video: An (Abbreviated) History of Credit
    I came across this little gem trolling YouTube. I love a good video montage (who doesn't, really?) and this one—with its jazzy music and retro film footage—fits the bill.
  • Are You Irresponsible with Your Credit Card?
    Credit card debt is pretty much a black or white situation. There’s nothing gray about it. You either used your credit card responsibly or you used it...well, less responsibly.
  • 6 Cool iPhone Apps for Controlling Credit and Debt
    The six best credit- and debt-related apps to help you pay down debt, protect you from identity theft, and even occasionally rescue your credit card from the dinner bill.
  • Friday Grab Bag: College Edition
    It's Friday again, and that means it's time for the weekly SpendOnLife grab bag! This week we highlight the upcoming credit card ban on campuses, how college kids can learn about credit, and future college costs for the babies of today. Enjoy!
  • Intervention: When Friends Can't Say No to Credit
    Sushi lunches to the tune of $40, eyelash extensions in the ballpark of $300, and Louis Vuitton handbags that cost more than the down payment on my car: Purchases made by the rich and famous, or by my unemployed best friend?
  • Friday Grab Bag - 9/4/2009
    It's Friday again, and that means it's time for the weekly SpendOnLife grab bag! Here we share some of the week's more interesting tidbits from the world of credit and personal finance. Enjoy!
  • Bad Poetry Contest: Credit Edition - $1000 Prize!!
    In honor of National Bad Poetry Day, we’re kicking off a pretty awesome contest in which you could win up to $1000 toward your latest credit card bill.
  • The Medical Debt Relief Act of 2009: Just What the Doctor Ordered
    A new piece of legislation on the table in Washington, if passed, would lessen the impact of medical bills on our credit scores.
  • The Reality of the Joneses
    Do you have a "keeping up with the Joneses" mentality? You know, the mindset that you should have a better, bigger, and brighter lifestyle than those less fortunate, little people around you? Yep…you know what I’m talking about!
  • Friday Grab Bag - 7/31/2009
    It's Friday again, and that means it's time for the weekly SpendOnLife grab bag. Here we share some of the week's more interesting tidbits from the world of credit and identity theft. Enjoy!
  • Does Identity Theft Cause Post-Traumatic Stress Disorder?
    The anxiety and stress of trying to recover from identity theft can be horrific. So it’s not really a surprise to hear that some psychologists are labeling the emotional effects of severe identity theft cases as post-traumatic stress disorder.
  • Friday Grab Bag - 7/24/2009
    It's Friday again, and that means it's time for the weekly SPENDonLIFE grab bag post. Here we share some of the week's more interesting tidbits from the world of personal finance and identity theft. Enjoy!
  • The 5 Most Common Credit Problems
    Low credit scores are caused by negative information on your credit report. There are numerous things on your credit that can influence your credit score, but here are some of the most common problems.
  • Friday Grab Bag - 7/17/2009
    It's Friday again, and that means it's time for the weekly SPENDonLIFE grab bag post. Here we share some of the week's more interesting tidbits from the world of credit and debt. Enjoy!
  • Weekly Grab Bag - The Fourth of July Edition!
    Welcome to the Fourth of July edition of the SPENDonLIFE weekly grab bag! Check out some of the latest happenings in the world of credit, all related to Uncle Sam of course. Have a great holiday weekend!
  • Sound Familiar? Top 10 Money Lessons from Dad
    For many of us, our parents were the main influence for our financial outlook (for good or bad). To help celebrate Father's Day (it’s this weekend, don’t forget!), here are the top 10 money lessons from Dad.
  • Federal Reserve: Consumer Debt Keeps Dropping
    The Federal Reserve has just released consumer spending trends for the month of March. Here are the figures: Credit card borrowing fell by 6.8%. That's $5.4 billion saved! (Not as impressive as the $9.7 billion saved in February of this year, but still...)
  • Round-up: MSNBC Dateline Videos Examine America's Debt Problem
    These six short documentary segments from Dateline on MSNBC are truly fascinating. They follow the lives of real people drowning in serious debt, and the shocking (and illegal) tactics that debt collectors use to get them to pay up. A worthwhile watch...
  • Top 10 Ways to Pay for Your Wedding
    We all know weddings are about celebrating the love you and your honey have for each other, but let’s face it—they still cost a $!#&@-load. Whether your budget is $2000 or $20,000, explore these ten ways to finance your wedding.
  • Consumers Trim Debt with Cheap Thrills
    Americans cut back on credit card spending by a record 9.7% last month, but that doesn’t mean we’re not still having fun. We’re just remembering that having fun doesn’t always mean spending a lot of money. The businesses that are thriving in this recession are the ones that offer cheap, tried-and-true diversions that fit into the reformed budgets of American consumers.
  • More Stuff = More Stress
    I’ve long felt that more stuff = more stress. More gadgets, more cars, more activities…it all equates to more of us running around like chickens with our heads cut off. Maybe I’m just being nostalgic, but didn’t daily life used to be simpler?
  • Unemployed? Citi Might Lower Your Mortgage Payment to $500
    With unemployment at a 25-year high, many aren't able to cover all of their monthly expenses, including a home mortgage. One mortgage lender has decided to give a helping hand.
  • The Era of Thrift

    The latest figures prove that Americans are breaking bad spending habits and squirreling more into savings accounts. Are we becoming a nation of super savers?

  • Debt: An Old, Familiar Face
    Are you complacent when it comes to your bills? It might be time to re-examine your household budget and make sure your money is going where it really needs to.
  • What's Your Plan for Living Debt-Free
    Yes, Christmas is the biggest spending holiday of the year and your credit cards are probably dripping with debt right now. But no time like the present to start gaining control of your finances! Get a jump-start on 2009 by forming a plan now.