I am now a 25-year-old woman from middle class "privilege" facing a crushing $60,000 of debt, with a 20-year loan repayment plan. I am still treading water each month, balancing multiple jobs. Is this how I am being "compensated" for my accomplishments, Mr. Reinharz?
When you pay off your debt accounts and regain control of your finances, it's like plugging the holes in your bucket and being able to use the money as you see fit. No more siphoning away your hard-earned money.
I realized that if I continued to bail my parents out, nothing would ever change for them. They needed to get on a better financial track, and coming to their rescue wasn't going to help them do that.
So would some new Christian Louboutin shoes or a sparkly new SUV make me feel successful? Definitely, but not in the way I am craving success at this stage in my life. Here are the top things in life that define success to me at this time.
It is important to consider all issues before you make a decision on whether to hire an attorney or not. While legal representation is important, it is not always necessary.
What was it like to open up a letter announcing that the burden of a large medical debt had been taken away? "I was dumbfounded," replies Terrance Lavalle, referring to a letter he received in November from Occupy Wall Street's working group, "The Rolling Jubilee."
The government shutdown made it clear that Palinism is alive and well, if not the dominant philosophy in the Republican Party. Republicans want to fight for "something," even if they can't say what it is.
The Congress is beginning negotiations on the budget. If the end result is a budget dominated by tax increases and discretionary spending cuts, the deficit will be lower but the unfairness will be magnified.
Our leaders like to call their strategy borrowing, but it is really tantamount to stealing -- from our children, worse yet. Why? Because we have no plans to pay the debt.
Let's accept the premise that U.S. federal debt is out of control and cannot be reined in by efficiency in the health care sector. The way the government is cutting the deficit is the absolutely, objectively worst way the government could cut the deficit.
What is the worst kind of debt to carry? Is it student loan debt, credit cards, a mortgage -- or something else? Even the experts don't always agree on which debts are "good debt" and which ones are "bad," so imagine how confusing it can be to consumers who are dealing with debt!
NIF is a nonpartisan network of educational and community organizations that regularly convene people to exchange views on major issues. Throughout 2011 and 2012, the group brought typical citizens together to deliberate on options for tackling the debt.
When choosing a college, remember that tuition cost shouldn't be the only way to calculate the value of your degree -- investing in schools with better internships, contacts or special programs can help you continue to build wealth years after you graduate.
Grenada's biggest weakness is also its greatest strength: its people, and their perception of money and debt. Grenadians and other nationalities need to wake up and take charge of their finances.
Now I have less stress, more freedom and am a happier person because I don't have the weight of debt and an unfulfilling job to weigh me down. And I didn't even realize my job was an issue until I changed my mindset and came out from under the "traditional" work mentality.
In the 11th hour last Wednesday night, Congress and the president passed a bipartisan budget and raised the debt ceiling, reopening the government agencies that had been closed for more than 16 days and averting a near catastrophic default on the nation's debt. But what does all this mean?