Life happens. Sometimes you just need that bit of extra cash—say $50,000—to cover your expenses. Personal loans can pay for your wedding, honeymoon, or divorce attorney if it doesn’t work out for you two a few years down the line.  Whatever you need a loan for, we won’t judge. We’re here to rate and rank your potential lenders. SoFi is one of the most popular loan providers in the US. Here’s our comprehensive review of SoFi personal loans. In this review we’ll: Answer the question, “Is SoFi as good as everyone says?” (Spoiler alert: yes!). Show you where SoFi shines, and where it drops ..read more

I think I can sum up Dave Ramsey’s teaching in a single phrase, ‘If you don’t have the cash, you don’t need it.’ When I first heard about this message, I was a Finance major at Grand Valley State University. “Debt is a tool”, was a popular phrase in Business Finance. To a point, I still understand this message; there is such a thing as ‘good debt’ and ‘bad debt’. But, more often than not, my colleagues would use the phrase, ‘debt is a tool’ to justify unnecessary school debt (used when they just didn’t want a job while in college) and car loans. For these items, debt may be a tool, but it come ..read more

[wp_campaign_1] Do you truly want to be debt free? In my opinion, this is the most difficult step in the 7 step plan (as outlined in a previous article). Not including a home mortgage, some debt-loads can easily total upwards of $50,000 with just student loans and car loans alone. And how much disposable income (total money left after all expenses) do these individuals have? Typically, less than $200 extra a month. When we step back and look at the numbers, we could easily be in debt our whole lives!! When my wife and I started our journey together, we both brought some debt with us. We didn’t ..read more

I think I can sum up Dave Ramsey’s teaching in a single phrase, ‘If you don’t have the cash, you don’t need it.’ When I first heard about this message, I was a Finance major at Grand Valley State University. “Debt is a tool”, was a popular phrase in Business Finance. To a point, I still understand this message; there is such a thing as ‘good debt’ and ‘bad debt’. But, more often than not, my colleagues would use the phrase, ‘debt is a tool’ to justify unnecessary school debt (used when they just didn’t want a job while in college) and car loans. For these items, debt may be a tool, but it come ..read more

[wp_campaign_1] Do you truly want to be debt free? In my opinion, this is the most difficult step in the 7 step plan (as outlined in a previous article). Not including a home mortgage, some debt-loads can easily total upwards of $50,000 with just student loans and car loans alone. And how much disposable income (total money left after all expenses) do these individuals have? Typically, less than $200 extra a month. When we step back and look at the numbers, we could easily be in debt our whole lives!! When my wife and I started our journey together, we both brought some debt with us. We didn’t ..read more

Debt is agonizing. A study by Northwestern Mutual points out that out of the Americans burdened with debt: 29% delayed making significant purchases 18% delayed saving for retirement 14% delayed buying a home 8% delayed having children 7% delayed marriage These staggering stats make us wonder: are we in control of our debt, or are we being controlled by debt? That’s why if you’re dealing with debts, you should look for ways to get rid of them—for good. What if we told you that a simple debt repayment strategy is the answer to your problems? We’re talking about the debt snowball ..read more

Student loans are like any other type of credit. They charge interest, but these interest rates are usually lesser than personal or credit card loans.  However, what sounds like cheap access to money for education is taking a toll on the nation.  According to the White House, over 45 million Americans currently carry more than $1.7 trillion in federal student loans. A Department of Education analysis states that a typical undergraduate student with loans now graduates with nearly $25,000 in debt. This is because of the exorbitant cost of education and rising inter ..read more

Debt can be a dangerous thing. While it can help you get something that you could not otherwise afford, when it’s not managed correctly, it can lead to financial and mental health problems. If this sounds familiar to you, there is hope to be consumer debt free. Here are some steps you can take to dig your way out to a better, more financially stable future. Related: The BEST Debt Snowball Excel Template!! (And It’s FREE!!) What is considered consumer debt? Consumer debt is any debt an individual incurs for personal, family, or household purposes. In other words, anything that’s not a ..read more

The 0% interest rate on Federal Student Loans come to an end on August 31st, 2022. At that point, interest rates will activate again and payments will be expected monthly, just like they were a few years ago (in our pre-covid world). Instead of ignoring those student loan payments like you have been, maybe it’s time to start paying them off with a vengeance! But, should you snowball student loans? Or should you pay off student loans via the debt avalanche method? These are great questions! We’ll explore them in this post, along with many other great questions around student loans!  Relate ..read more

If you have quite a bit of high-interest debt, you may be looking into ways to pay it off faster. But if you’re considering using a 401k loan to pay off credit cards, you should know a few things first (plus why we don’t recommend you do it!). Related: FREE Credit Card Payoff Spreadsheet (Get Out of Debt in 2022!!) Can I take a loan out of my 401k to pay off my credit card debt? Technically, yes. Many different 401(k) plans allow you to borrow against your retirement savings. One of the benefits to many people is that it’s a low-interest loan option and will make it easier to pay it back ..read more