Emergency’s happen. They are a part of life and are often times unavoidable. How you handle your finances can be the difference between an emergency being categorized as a situation, basically something that just happened or an all-out crisis. A recent survey by Bankrate showed that Americans aren’t saving money. Most Americans (63%) may not have enough money in savings to cover an unexpected $500 car repair or a $1,000 hospital emergency room visit. Emergency Funds are an essential part of any financial plan. They are basically a readily available supply of money that can be used to handle life…

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If you can you should always pay your interest on your student loans even when it’s in deferment or forbearance. Interest accrues daily and the higher your balance and the higher your interest rate the higher the amount applied to your loan every single day. Paying the interest during your grace period could save you hundreds if not thousands of dollars in the long run and greatly affect the amount your have to pay back when your loan comes due. Student Loan providers are tricky and each of them handles your payments and accrued interest differently. For instance, when you…

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We could definitely tell it was a leap year as the month of February was full of nothing but ups and downs for my household. We went into the month with a positive outlook. We knew that if all went as planned we’d be paying off our first student loan on the Debt Snowball moving on to the second. I’m happy to say that in spite of everything that went on we were able to  achieve both of these goals. The 1st Student Loan which had a starting balance of $21,000 was officially paid off on February 11th. It took us 6…

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I realized this week that debt, like death, doesn’t care who you are. Music icon Kanye West announced this week that he was $53 Million dollars in debt. That number is large but it may not be the same type personal debt that you or I might carry. He didn’t go into the nearest Hermes and buy two of everything in the store. Nor did he purchase each car on the top 10 most expensive car list, with cars ranging from 1.2 million to 8 million. He accrued the debt to fund a dream and in funding that dream, we…

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  When was the last time you logged into your student loan account and actually paid attention to how far your minimum payment was getting you? This past Saturday I did just that with my husbands student loan that we’re diligently making a $355 minimum payment on each month. Let’s just say what I saw was worse than any scary movie I’ve ever seen! Just to give you some back story we’ll be finishing up our 1st student loan (original balance $21K) by the middle of this month. Our goal is to have the second loan ($4K) paid off by…

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