“Never was so much owed by so many to so few“, –Winston Churchill I paraphrase Churchill as a precursor to the latest data from Stats Canada about the National Balance Sheet. Remembrance Day is not… Read More »Never was So Much Owed by So Many
Straight Talk on Your Money is an excellent read to teach folks about how no matter how well you plan financially things can go wrong, and what you can do about it.
What are serial refinancers ? These are folks who keep consolidating their debt with consolidation loans, but never deal with the core issue of why they can’t stop getting farther into debt. Much like serial murder, this is bad!
Is Sean Cooper a preachy know it all, or someone who showed that anyone can get out of debt if they just put their mind to it?
The story recounts a friend’s decision to cover an old tattoo with a new, larger one, drawing a parallel with debt consolidation. While covering up the tattoo doesn’t remove its existence, the same applies to debt consolidation—it merely combines debts into one, larger sum. If the irresponsible spending continues, the debt, much like the tattoo, becomes larger. The author advises users of debt consolidation loans to have a repayment plan and to avoid treating the loan as a cure-all or using it too frequently.
