Dance Off $103,000 of Student Loan Debt
- Created on 03 April 2015
Let's be clear. Tim Otis and his wife didn't dance the debt away. They buckled down, got serious, and worked their keisters off to dump $103,000 in student loan debt.
The dancing came after!
I first learned of Tim's story after reading his riveting (yes, paying off debt is exciting) tale of decisions, sacrifices, and lessons learned from a friend on LinkedIn. Maybe I need to spend more time on LinkedIn - I've been missing out.
Thankfully, he was down to talk about dancing off debt on this episode of the Midday Money Show. We had a great discussion on how the Otis clan accomplished their goal including tips on how you can too!
The Best Debt Dumping Approach
- Created on 02 April 2015
The proverbial fence sitter is back folks! I'm doing a little research for my upcoming book (yes, you are the first to hear it straight from the source - more on that soon) about the best approach to dumping debt.
Everyone has an opinion - and so do I. The best approach is the one the works best for YOU! Can I be anymore noncommittal?
I should have come of age in the 70's.
When it comes to dumping debt, I'm all about peace, love and harmony - i.e. doing what works for you.
Avoid For-Profit College Scams
- Created on 31 March 2015
For-profit colleges and programs are receiving a lot of bad press lately. For good reason.
The Consumer Financial Protection Bureau has sued Corinthian Colleges for predatory lending practices. How does a college qualify as a predatory lender? This is crazy.
Predatory lending is a practice that tricks a borrower into accepting terms that are unfair through deception, misinformation, or other coercive tactics. In this case, Corinthian College is accused of taking advantage of ill-informed students by steering them into huge loan programs to fund programs of questionable credibility.
Corinthian is not the first for-profit academic institution to inflate their results. I have a few thoughts on how students can protect themselves from being victimized by the next educational scam that presents as a wolf in sheep's clothing.
Students Declare a Debt Strike
- Created on 28 March 2015
This is an interesting turn of events. Former students of the for-profit Corinthian College system are going on strike and refusing to repay their student loans.
According to one member of the Corinthian 15, students have been duped into assuming exorbitant loans for sub par educational services and left with little means of finding work in their area of study.
Add to that, Corinthian College - one of the largest for-profit university chains in the country - was forced to sell 50 campuses and seek bankruptcy for another 14 last year after being sued by the U.S. Department of Education.
Take the Gloves Off: Real Life Car Debate - Lease vs Buy
- Created on 25 March 2015
WonderMan finally gets his say.
Yep. We made Midday Money Show history by allowing my wonderful hubby (thus his moniker) his time to express his side of the Lease vs Buy debate. I had a little scheduling snaffu - it happens - and WonderMan was generous enough to step in as a Midday Money Show guest with about 5 minutes notice.
I'm tickled at just how ready we were to strap on the gloves without much preparation. That means this is an honest to goodness, real life issue that we're having. While we didn't go Real Housewives and flip tables or anything, it has been interesting for me to really listen to both of our points.
Budget Friendly Baby Birthday Bashes
- Created on 18 March 2015
In the past few weeks, I’ve been on the pewee party circuit. Including mine, we’ve celebrated a 1, 2, and 3 year old birth fest in the past month alone.
In my case, I didn’t have children while working out of $107,000 of consumer debt. So kid’s clothes, social itineraries, and other necessities – 3 hots and a cot for instance – were not on my financial radar. Fun stuff sacrifices didn’t impact little cuties with puppy dog eyes and smiles that render parents senseless.
However, we’re diving in (more like being dragged) to the social participation end parenthood. Kid’s parties are all over the map. Gone are the days of cake and ice cream, a few manually inflated balloons, or your dad’s made up games in the back yard.
Buy vs Lease: The Debate Continues
- Created on 16 March 2015
At least at my house. Why is this still a topic of conversation?
Because two rational, intelligent beings with the same ultimate goal can view a topic from different perspectives. Uuugh!!!
So this conversation has been ongoing - mainly in joking form - for some time. My husband continues to point out lease commercials on TV, in print, or online. I assume he likes to push my buttons. I'm trying not to react...not always successful.
I have a deep, visceral aversion to leasing cars. I've written about it a number of times: