Thinking of going to college, but you don’t qualify for scholarships, grants or any of the other free money so often associated with financial aid? Maybe it’s time to consider a college loan. Don’t worry, taking out a college loan is not the scary experience it used to be. Before you cross college off your wish list (due to lack of finances), get the lowdown on college loans.… Read More


The combined amount of personal debt in the US is $2 trillion which is about the GDP of England. That means Americans are in debt more than a country earns in a year. And that $2 trillion debt boils down to $117,951 per household. The statistics don’t get much better from there. Even though Americans are a hard-working and industrious people they undertake too much debt and save too little. In the 1960s the average American saved 11 percent of their paycheck and in the 1990s it had decreased to 5 percent and then in 2003 it fell to 2.3 percent. However, because of the shaky economy, savings among Americans have risen to between 5 and 7 percent of their disposable income.… Read More


Even though a college degree can give you the training to get into the job of your dreams, just remember that even though you may have a college degree that doesn’t necessarily mean that you will earn a lot of money. In fact, there are many college grads that have spent a lot on going to college and then they don’t end up making much. So if they have a lot of student loans it can be difficult for many to pay them off if they earn low wages.
Some low wage jobs according to 2010 data from PayScale shows that even with a bachelor’s degree, your wages may still not be high. For example students in the following areas can’t expect to start out earning a lot or expect to earn much more over their career. For example, engineers and those in computer science tend to get high salaries while those in the following 10 fields are paid poorly.… Read More


Several scholars and journalists are now bringing up the idea that higher-education could be the next sector to crumble. This means that smaller colleges might be forced to merge, close, or declare bankruptcy. They have spent too much and are in debt up to their eyeballs, and now with shaky student loans and rising tuition… Read More


It’s time to consider the sobering possibility that there is nothing we can do except grow up and learn to accept the consequences of our overspending. It’s time to accept that we cannot avoid a deep recession any more than we can keep winter from coming… it’s time to just let things take their course.… Read More


Didn’t I feed the frenzy by taking on credit card after credit card? Didn’t I mortgage my home with less than a solid down payment? I got caught up in the spending frenzy just as much as those crazy bankers. In some small way, I helped push us toward the economic brink.… Read More