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Yielding Wealth | Personal Finance

Archive for the ‘Debt Management’ Category

April 14th, 2008

Exchanging Unsecured Debt for Secured Debt

Over the weekend, I wrote about how my credit card company is trying to get me to refinance my home with them, and take out some cash. For me, this is an obviously foolhardy move. Such offers usually go straight through the shredder.
But Sean left a comment that I feel is very pertinent to the […]

By miranda -- 0 comments

March 13th, 2008

Guest Post: Personal Finance Advice

Not too long ago, Yielding Wealth ran a contest in which readers submitted questions to Linda Leitz. Leitz is the author of the book We Need to Talk: Money & Kids After Divorce. Throughout the rest of the month, I will be posting her answers to the four best (and most common) questions I received.
Today’s […]

By miranda -- 0 comments

December 7th, 2007

What’s Your Credit Card Interest Rate?

If you haven’t been reading those notices that come in your credit card statement, or if you haven’t looked on your statement for your credit card interest rate, you may be in for a rather unpleasant surprise.
Some credit card companies (Discover notable among them) are in the habit of periodically checking your credit report. They […]

By miranda -- 0 comments

October 31st, 2007

Ask the Piggy Bank: How Can I Avoid Foreclosure?

With the news that 2 million foreclosures are expected by 2009, many people are wondering if their adjustable rate mortgages will come back to haunt them when the mortgage interest rate reset takes place. One of the questions I was recently asked was this:
How can I avoid foreclosure?
The answer to such personal finance questions is […]

By miranda -- 8 comments

October 29th, 2007

Equity = Ownership

One of the more confusing financial terms that many people run into is equity. This is true whether you are talking about your home or your business. The Accounting Solver offers a rather enlightening graphic, and points this out about equity and business ownership:
The basic accounting equation dictates: the more Liabilities, the less Equity, and […]

By miranda -- 1 comment

October 24th, 2007

Predatory Lending Bill Does Little in Way of Education

While the predatory lending bill introduced into the House earlier this week does, in fact, show some promise in curbing some of the practices that led to the subprime lending crash, it is somewhat low on education.
Even though mortgage lenders and other creditors, such as credit card companies, do deserve some of the blame for […]

By miranda -- 0 comments

October 19th, 2007

What Are American Consumers THINKING?

One of the hardest aspects of financial planning is the discipline it takes to curb your habits and re-focus. And overcoming habit is hard. But at this point, some things seem ingrained in the American consciousness to the point of ridiculousness, as MarketWatch points out:
Yet still, despite falling house prices, soaring energy prices, a credit […]

By miranda -- 0 comments

September 14th, 2007

Are You Taking Responsibility for Your Personal Financial Situation?

One of the more interesting things in life is how personal responsibility can help you along. This works in all aspects of life, including your personal financial situation. In order to start yielding wealth, it is important that you stand up and take responsibility for your personal financial situation. Yes, there are many undesirable circumstances […]

By miranda -- 3 comments

September 7th, 2007

Can You Get a Lower Credit Card Interest Rate?

For October, as Get Rich Slowly points out, Consumer Reports did an issue on credit cards. My husband, always helpful, pointed this out to me when his CR arrived. “Look!” he said, “Can you use this at all?” I became excited as well. Less so when I found out how “crappy” my credit cards are […]

By miranda -- 4 comments

September 4th, 2007

Yielding Wealth: Only Buy Things You Can Afford

This whole subprime lending mess has brought to light some very real problems with our society. This whole idea of “buy now, pay later” has really caught up to us. So, even though it is possible to use credit cards to your good, it is important ONLY to buy what you already have money for. […]

By miranda -- 0 comments