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Archive for the 'Debt' Category

I wake early and head over to the desktop to flip the power switch. Yawning, I hear the computer hum to life as I shuffle over to the next room to perform the usual foraging ritual for breakfast. Thump around a bit through the cupboards, grab a handful of cereal from the box (there’s no [...]

[This is a guest post by Elisabeth Chan, who runs Creditnet.com and holds a B.S. degree from BYU’s Marriott School of Management. Creditnet is a free resource for anyone who wants to learn more about credit. At Creditnet.com, you can compare hundreds of the best credit cards online, such as student cards and 0% interest [...]

A position opened in my department last month — a part time gig slightly above blue-light special wages with no benefits — and my supervisor was inundated with and shocked by the quality of applicants. A large portion held masters degrees and there were even a few Ph.D. graduates applying. As my supervisor scanned through [...]

Just plopped down another $1,200 $1,300 on my debt. Jesus. My whole flimsy paycheck, now exhausted. But there is still one payment remaining before the diabolical debt beast — this whole heaping $15,000+ monstrosity — will be vanquished indefinitely. Adios, you bastard. So for now; one more month of subsisting on Cheerios, Ramen noodles and [...]

I know I’ve stepped away from this site for a while but honestly have been feeling extremely drained and frustrated lately. It’s infuriating to see so many average Americans struggling financially and my heart really goes out to those who have lost their jobs recently. My Aunt received a phone call on the way home [...]

I received my loan statement yesterday and my debt, which was at a hair-raising $20,000, has shriveled to a more demure $5,400. I can almost feel languorous freedom again – it’s sooo close! But my debt-free journey is far from over. Here are some simple tidbits which helped me enormously this past year. I stopped [...]

Recently when I met with an old friend over lunch, the subject of our floundering economy inevitably weaved into our conversation. My friend works as a legal aide and felt her company was pretty secure. Yet over fragrant sips of ginger and spicy Chai, it was her parent’s business she was most interested in discussing. [...]

Former Federal Reserve Chairman Paul Volcker said the U.S. financial system, dependent upon securitization rather than traditional bank loans, is broken, and may contribute to the weakest expansion since the 1930s. Volcker Says Finance System `Broken,’ Losses May Rise The Bloomberg News September 5, 2008 This bright new system, this practice in the United States, [...]

Today I threw another $1,000 toward my debt and it feels incredible! Last year I would never have imagined making as much headway on my bills as I have this summer, and it’s been extremely encouraging. The challenging part is sacrificing in order to stash away as much of my paycheck as possible, instead of [...]

A new frugality could remake the U.S. economy—and American life. While some Americans have spent themselves straight into poverty, others industriously aspire to conserve and save. But is frugality a doctrine that can actually serve as a death warrant in a credit based society? The End of Credit Card Consumerism U.S. News and World Report [...]

“There’s quicksand all around us,” says 87-year old veteran investment advisor Charles Allmon. “We’re in an economy that’s tanking, we’re looking at the most significant economic downturn since the 1930s, and the dollar is going to hell.” New Threat: The ‘Obama’ Market The Sun June 30, 2008 Mr. Allmon has been in the stock market [...]

The dirty little secret everyone in Washington knows – “We suffer from a fiscal cancer.” David Walker, the nation’s top accountant and former comptroller general of the United States, is a highly respected public figure who has run the Government Accountability Office. (The GAO audits the government’s books and serves as the investigative arm of [...]

A financial update. Oh baby, how far we’ve come While rummaging through some older posts here on Broke-Ass, I stumbled across a lot of stuff I’d forgotten about. A post from last year showed how I’d gone from $0 in savings in January 2007 to $1,000 in savings four months later (see Surviving Paycheck to Paycheck? You [...]

In The Current Turbulent Economy and Financial Sectors, What Gives? I’ve become somewhat of a CNBC junkie lately, which has resulted in some pretty bizarre sleeping patterns. It’s not unusual to catch me propped up on my pillows at 4am, munching on some Cheerios and sneaking in an hour or two of ”Worldwide Exchange”. Month after month I’ve held my breath [...]

A Continuation Of My Struggle Battling Alleged Credit Card Debt The beginning of this story can be found at Broke-Ass Student Just Got A Whole Lot Broker with a bristled rebuttal at How To Fight Back Against Collection Agencies. I squinted at the words scrawled across the pages through the dim light, entirely absorbed in my reading, when suddenly loud [...]

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