I graduated law school with $206,000 of student loan debt (woof). While I have paid off $50,000 in three years, I still have $156,000 to go. For all you student-loan-debt-suffers out there, no doubt your student loans affect your life.
Barry Z. Cynamon and Steven M. Fazzari are exploring how the massive debt which led to the Great Recession, the spending collapse that followed, and the stagnation that persists are all linked to income inequality. In this interview, they discuss what their findings mean for America.
Keeping control of overall debt is an important part of financial planning no matter what your stage of life. But a flat statement about eliminating all debt in retirement may be too simplistic. That's because the amount of debt you can comfortably handle is very individual and depends on your bigger financial picture.
The video is unsettling: A Vietnamese tourist on his knees begging a Chinese storeowner in Singapore for his money back after trying to purchase an iPhone 6. Within minutes the video goes viral, capturing headlines across Asia.
It's a surprisingly common position to be in: You finally achieve the impossible (or at least what seemed impossible for a long time) and become debt-free, but instead of feeling financially empowered, you have a deer-in-the-headlights episode. You're so accustomed to being in debt that you don't quite know what to do without it.
The upside down numbers in this new math economy is felt everywhere, and we've all had to adjust accordingly. Keeping an ex-husband indentured to his ex-wife for life, tied to paying large percentages of a salary? How is that justice?
This summer before Labor Day, I saw plenty of Halloween stuff out in the stores. No big deal right? Then I saw Christmas Trees displayed before Tha...
We need to readjust the way we educate physicians. Young doctors need to understand money more clearly from the start (especially the $200,000 in school loans part). But they must also grasp the hypocrisy that tells them that medical businesses, like Pharma, are inherently evil.
With so many young adults moving back in with mom and dad, that line between childhood and adulthood is blurring. Whatever your financial situation, though, you can begin taking steps to become an independent financial adult.
There's so much in our lives that allow us to exist that we walk right by without noticing -- even our breath. Today, more than you have in a while, feel that interconnectedness with the air, the soil, the sky. Be very, very aware of and in awe of the divine nature of this creation.
Successful entrepreneurs view failure as a momentary set back, not a business-ending event. When you experience failure, realize it's not the end of the world and determine to come back even stronger because of it.
The only problem is that not all entrepreneurs are able to manage their finances -- which isn't a knock since not all of us familiar with areas like accounting.
It's the revolutionary multi-billion-dollar industry nobody's heard of, and it's killing credit card debt for hundreds of thousands of consumers. It's not only disrupting, but completely undressing the traditional credit model.
Financial instruments such as credit cards, pay day loans, loans on car titles, loans on income tax refunds, and subprime mortgages have led to a profound shift in consumers' self-understandings as financial decision makers.
The smarter thing to do is perhaps focus on where loan defaults are occurring, not on how much the loans are.
The head of the Small Business Advocacy Council of Illinois has had it with the barrage of negative ads TV viewers are enduring this election season. ...