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Category Archives: The Credit Game

The Difference Between Good and Bad Debt

There is a difference between bad debt and good debt. Most everyone reading this will relate to consumer debt. It’s the debt that comes from buying things, from paying bills, etc. Investment debt is debt used to pursue a venture (opening a business, flipping a property, etc.) that will yield you profit. And although Dave

How to Get Out of Debt

Most Americans are in quite a bit of consumer debt. Consumer debt (also known as bad debt) is accrued by purchasing items that you don’t have the money to pay for. Living a rich life (materially and non-materially) requires that you have financial peace of mind. Financial peace of mind cannot come when you don’t have

The Pros and Cons of Refinancing

There are many unique situations when people begin to think about refinancing. My first piece of advice is this: Never make any decision before you have spent plenty of time studying, researching, calculating and recalculating the numbers. Don’t just trust what the brokers say (although some may have your best interest in mind); it’s not

Credit Cards- When to Use Them and When to Absolutely Not Use Them

Today I received a question from reader Dani. It inspired me to write this article: Credit Cards- When to Use Them and When to Absolutely Not Use Them She asks, I’m reading that book that lots of people recommend… the Dave Ramsey one. It suggests getting rid of credit cards all together. We have credit cards,

3 Secrets to Save $102,533.35 on Your Mortgage…That Banks Don’t Want You to Know About

Two and a half years ago, I was looking at the amortization/debt schedule of my dream home that I was about to buy. It was mind boggling how much money my family would pay in interest over the course of a 30 year loan! Even at the pretty low interest rate we had secured we would end up paying $134,739.01 in interest. That is

How to Avoid Debt

People who make a lot of money, and I mean A LOT of money are not always financially rich. I once heard about a plastic surgeon that was very well known. He had a huge practice and specialized in a high-net worth or celebrity clientele. He had a few mansions, a private jet and a

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