The first day at a new job is full of excitement, anxiety, optimism and confusion. Am I dressed right? Will I fit in? Will I find the bathroom? Getting all those things right is important, of course. But some things that seem less pressing will have an even bigger impact on your future.
With the average adult nearly $27,000 in debt due to student loans and the rising costs of higher education, the debt crisis has become the newest scapegoat for the lagging real estate market and slow economic growth.
Credit card and financial debt may get all the hype, but medical debt collected by third-party collections agencies is roughly three times as large as both combined.
Being laid off is a legitimate fear if you work for someone else. The greater fear here is after the layoff, not being able to find another job and pay your bills. You should be prepared just like for any other disaster.
Any TV news organization would rather cover a train wreck than an on-time arrival at the station. But CNBC's constant denigration of the equity market begs a question: why on earth would the cable network do their level best day in and day out to scare viewers out of the markets that they covers?
The outbreak of Ebola in West Africa has claimed thousands of lives -- more than 3,000 and counting -- and it has the power to take many more. It also has the power to wreck the economies of one of the poorest regions in the world.
Moving your debt around can give a false sense of relief. It makes you feel better about what you owe. That's a problem because most of us don't change until we can't stand a situation any longer. So you don't change anything about your behavior.
ECB President Mario Draghi has been highly effective with his words alone -- moving markets with speeches and little action. However, by doing so he has also set the bar high and expectations for action are becoming the norm.
It's sort of like "On the Road" except the driver is on my car insurance. And when they finally decide to leave Maine (you're where?!), the driver has a cell phone and can call mom about flat tires, stripped lug nuts and how between the four of them, they're down to $2. OK, so it's not like "On the Road" at all.
I've heard of some families overcoming step two of Dave's debt program in just one year, while other have taken seven years. But it's the small victories you accomplish with smaller debts that can keep you steady on your goal.
The premise is simple: borrow the amount you need plus a fee per $100 borrowed now, pay it back when your next paycheck arrives. Unfortunately, what often ends up happening is that the borrower can't pay back the amount borrowed within 14 days.
When people think about buying a house, they also traditionally think about obtaining a mortgage for the next three decades of their life. It's inefficient and it's definitely not the most cost-effective way to ultimately own your home. In fact, it's rather depressing!
Should we encourage people to borrow to go to college? The expected returns to a college education clearly say yes. And, our natural bias as university faculty members is to be very supportive. But, we are obliged to caution that what may be true in most cases will not be true in all.
Where are we now? Income disparity soars, student loans threaten to be the next subprime mortgages, and millions of Americans struggle daily to make ends meet. Unmanageable, crippling debt is still harming millions of American families.
Keeping wealth can be just as much of a challenge as growing it in the first place. All of these are solid ideas you can implement today.
While leaving the U.S. may never be an issue of economic survival, the new economic climate is making it a much more tempting option than ever before.