Serial Refinancers
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!
Credit is the Lubricant for the Wheels of Business
What drives the economy? Credit is the lubricant that helps the cogs of the economic machine run smoothly, but what happens when credit stops?
I Hate Sean Cooper
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?
Debt is a Four-Letter Word
The author highlights the negative connotation of the term ‘debt’, emphasizing that it is a difficult burden that one owes to their future self. Noted financial expert, Preet Banerjee echoed this sentiment in a presentation. Numerous people are likely unaware of the substantial impact that a quadrupling prime rate might have on them, especially with the current low interest rates. The author also encourages readers to anticipate potential increases in mortgage interest rates and consider the levels of consumer debt.
Debt Consolidation and Tattoo Coverups
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.
