debt
Rather go to bed with out dinner than to rise in debt.
– Benjamin Franklin
Debt is having a crippling effect on too many American households. With the trends towards materialism and a credit-based society, it’s nice to have some sound advice and useful education about how to avoid debt, how to get rid of debt, and ultimately how to free oneself from the bondage that is created from a lack of discipline when it comes to spending.
This section of Prosperopedia.com is dedicated to providing news, tips, and useful information about debt management, including how to get yourself out of debt, how to properly use debt in the right situation (think mortgage for a home, financing a business…and little else), and how to teach your kids and others the principles that will help them avoid the pitfalls of spending more than they earn.
We hope you enjoy reading and interacting with the content you find here.
How to Get Out of Debt
If you have substantial debt, you're much like the average American, who carries a personal debt load of about $30,000. That number doesn't even include a mortgage, which is usually considered a good kind of debt. Instead, that $30,000 average debt load (as reported...
Wells Fargo Debt-to-Income (DTI) Guidelines and Recommendations
Wells Fargo is one of the largest lenders in the United States, one of the biggest banking institutions in the world. They offer all sorts of loans ranging from traditional home purchase mortgages to student loans, personal loans, auto loans, and business loans. Wells...
How to Cancel Your Audible Account
Audible, the world's leading platform for distributing audiobooks and other spoken audio entertainment, is great for a lot of things. In my household, my wife and kids and I use Audible almost every day for entertainment or to educate ourselves on one topic or...
What Factors Affect Your Credit Score?
Credit Reporting Agencies and FICO Score Understanding how significantly your credit score affects your access to borrow money, you naturally want to know what factors affect your credit score. I will answer that question for...
MyEdDebt.gov Debt Resolution Portal for Defaulted Student Loans and Grants
Student loan debt is having a crushing effect on current students and graduates, whose college dreams often have turned into nightmares as they realize that the job and career for which their specific degree has prepared them is likely not worth the cost of obtaining...
One for the Money, Guide to Family Finance
If you want to be successful raising a family, one of the most important skills you can develop is managing your finances. In the 21st Century, being a parent is more expensive than ever. A USDA report released in 2017 estimated that it will cost parents...
How to Become a Millionaire
I’m going to share with you the formula I’ve followed to become (together with my wife) a millionaire. But first, some context. The United States has more than 11 million households reporting a net worth of more than 1 million dollars based on the latest...
Getting a Home Loan with Bad Credit
One of the primary factors lenders consider when you apply for a mortgage is your credit score. They normally use what’s called a FICO score, which is a number that ranges between 300 and 850. Lenders use this number to assess your trustworthiness, as it...
Dave Ramsey’s 7 Baby Steps for Saving Money, Paying Off Debt, and Building Wealth
Dave Ramsey is a popular radio show host, an author of several books about financial management and developing life skills. Besides being a great teacher, he is also, not coincidentally, a successful businessman and a devout Christian. His Financial Peace...
How Much Home Can I Afford?
When you’re shopping for a home, one of the very first questions you’ll ask yourself is, “How much home can I afford?” I’ll answer that question for you in this article using the information lenders use to qualify you for a loan amount as well as some...
FHA Loan Debt to Income (DTI) Ratio Guidelines
FHA Loan Debt to Income (DTI) Ratio Guidelines FHA loans allow first time home buyers and others who are just starting out or who may be financially disadvantaged to purchase homes through a government assisted program that differs from conventional loans....
The Simplest Financial Management and Debt Reduction Plan Ever
The materialistic, super-indulgent world we experience today has created a very large demand for debt reduction programs, debt counseling careers, thousands of apps for managing personal and family finances, and a thriving market where millions of people...
How To Become Rich – The Richest Man in Babylon Formula
The Richest Man In Babylon is a fictional story with sound principles that have helped people become wealthy through their application. This first part comes from the part of the book “Seven Curses For A Lean Purse”. Heed the advice in each of these...
EveryDollar – The Free Budgeting App from Dave Ramsey
EveryDollar is a budgeting application that is used by millions of people and families to keep track of how they spend their money and to do other budgeting activities. The EveryDollar app is a comprehensive monthly budgeting tool, allowing users to enter...
