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The Latest News about debt

Here are the cities with the highest share of zero-debt homeowners

A study released today showed which cities have the highest share of homeowners without mortgage debt, ranking U.S. cities by the proportion of such homeowners who are ‘free and clear’. To assess “free and clear” homeowners, analysts used LendingTree’s proprietary database of almost all homes in the United States to calculate the proportion of homes with zero mortgage debt in each city. ...

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Consumers and the Federal Government continue spending on credit

Credit cards

Consumers and the Federal Government continue to increase debt due to spending according to a new report out Wednesday. Revolving debt, almost all of which is consumer credit card debt, increased by more than $16 billion in May, according to Lending Tree’s Consumer Debt Outlook for July 2018. That’s the largest-ever increase in revolving credit for that calendar month and the largest percentage increase ...

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Household Debt to Surpass 2008 Peak by $1 Trillion

A report released Thursday finds that American household debt is currently on pace to exceed the prior peak debt level from 2008 by the end of June, primarily due to non-mortgage consumer debt. LendingTree’s Consumer Debt Outlook for June 2018, an anlysis of the latest Federal Reserve data, found that mortgage-related household debt has actually fallen by 5.5 percent while total consumer credit – a ...

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Americans On Pace to Amass a Collective $4 Trillion in Consumer Debt by the End of 2018

debt

Analysis of the latest Federal Reserve data found that despite a recent pause in credit card balance increases, Americans are on pace to amass a collective $4 trillion in consumer debt by the end of 2018. Collectively, Americans owe more than 26 percent of their income on consumer debt, up from 22 percent in 2010. Incomes growing, but consumer borrowing growing faster ...

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How Mounting Debt Problems have Affected Households

debt

Over recent years, many households have experienced difficulties when it comes to finances. Many struggle to make ends meet, with living costs rising far more quickly than salaries. This has put many households in hot water when it comes to money, creating a huge range of problems and putting them into high levels of debt. For some households, the only ...

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Tips to Help You Get Out of a Debt Trap

Credit cards

A huge number of people these days find themselves trapped in an unenviable position purely due to the level of debt they are in. Debt can have a huge negative impact on your life, leaving you unable to do the things you want and in some cases unable to cope with day to day requirements such as buying food or ...

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How Much Money Have Humans Created? [video]

how-much-money-have-humans-created

Ever wonder how much money exists? This video compares the world’s richest people, the biggest companies, physical currency, the gold market, the stock market, global debt, and other things to give you a sense of the size of how much money actually exists.

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Good News? You can now buy airline tickets with monthly payments

Creidt cards

As adamant disciples of a debt-free life, we can’t promote paying for airline tickets at up to 30% interest, but, if you’re just silly enough to do it – here’s how. CheapAir.com has teamed up with financial services company Affirm to allow fliers to take out three, six and 12-month purchase plans to cover their airfare. In an emergency, there ...

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A Look at the Free Market Credentials of the GOP Candidates’ Tax Plans

Wednesday night’s CNBC GOP debate was touted as economic-centric. It ended up being more about the moderators baiting the candidates with ridiculous and biased questions, such as John Harwood’s query to Mick Huckabee as to whether Donald Trump has the “moral authority” to lead the nation. But there needs to be some serious discussion of economics injected into the primaries beyond ...

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The Coming Social Security War

When one faction of politicians makes a principled stance and threatens to shut down the government, the opposing faction likes to conjure up images of an apocalyptic world where the sick and the elderly are left to starve because they cannot get their federal benefits. As it turns out, the real threat to entitlements is a fully functioning government doing ...

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Disrespect for Property at Heart of Global Debt Crisis

Europe-break-up1

In the aftermath of Greek voters’ overwhelming rejection of a deal with the European Central Bank, many options are being discussed to prevent the much discussed Grexit. Demonstrating that nothing is absolute in politics, especially when money is concerned, approximately a month will transpire before the actual repercussions of the vote are known, as European leaders must meet and discuss ...

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Eurogeddon – Greece gives EU the one finger salute

Greek protester

The polls are in and Greece’s citizens have decided to reject the austerity measures required by European creditors to secure more credit. In a sort of nationalistic pride, the ‘no’ vote seems to have won as citizens agreed with Greek Prime Minister Tsipras that EU leaders were acting like terrorists. Citizens see the austerity measures as blackmail – forcing them ...

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Article V Convention – Congress Will Not Act, So We Will

Government debt continues to amass at a dizzying pace. The federal government has displayed no discipline in reining it in and reestablishing a more sound fiscal footing for the future of the country. Our founding fathers, however, had the prescience to include in our Constitution the means whereby the states, and the people, could force the government to do what ...

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Federal Government: Embarrassing to the Point of Painful

As the so-called “government shutdown” drags on, one thing is hard not to admit: the Obama Administration is acting in a manner that is attempting to extract the maximum amount of pain on the American people. While many are wondering how it came to this point, those of us who actually paid attention in Social Studies, Civics and American History ...

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How Joe Biden Spent $585,000 for One Night in Paris

Have you really thought about that? Here’s how he did it. There are more stories about this than I have toothpicks and we owned a restaurant. (Trust me, you end up with a lot of toothpicks after closing a restaurant.) I have a much different take on things but first “the facts:” When you think about it – I mean ...

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