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Search results for debt management
Anyone who's dealt with significant debt knows how difficult it is to write out a large check every month to pay it off. Instead, financial weblog FiveCentNickel suggests paying off debt in micropayments:In short, pay what you can afford, and then scrape together whatever else you can during the month and send in multiple, smaller payments... Believe it or not, [a friend] got to the point where he was sending Citibank an extra $5 each and every day via online billpay. By making a game out of finding an extra $5/day, he managed to stay motivated and slay the debt beast well ahead of schedule.The benefit of the micropayment may be purely psychological, but if paying smaller chunks toward your debt on a regular basis is easier for you than holding onto that money and then losing it in one large chunk read more »
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Good money management is a mental exercise in self-regulation and focusing on the long-term goal, even when you're sure you just can't go on another day without buying that Kindle or MacBook. Even the most uber-organized and priority-minded people can stumble when it comes to money—how to save more of it, how to stop spending it, and how to keep doing both over and over again. While every person's financial needs are different, anyone can set up simple systems to help themselves stop buying what they don't need and almost automatically save money they'll need later. Let's take a look at 10 ways you can cut costs and do right by your money without much effort, after the jump. Photo by Darren Hester. 10. Save read more »
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