Open Source Blogging

Lowen wrote to me through the GetOutOfDebt.org site and asked the following question. If you have a credit or debt question you’d like to ask just use the online form. I’m happy to help you totally for free.

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“Dear Steve,

I have $102,000.00 in student loans, $21,000 in credit debt, and can’t budget my way out of a wet … Continue Reading

Judy wrote to me through the GetOutOfDebt.org site with her question below. If you have a question that you would like for me to answer for free, just submit it online here.

“Dear Steve,

Should I save the amount after paying off a credit card debt or pay down another.

Help please.

Judy”

Dear Judy,

You asked a great question and one that seems easy but has different valid and possible answers.

If you are digging yourself out of a debt hole the initial knee jerk reaction is to devote all your extra money to paying down the next card but I don’t think that … Continue Reading

Kathleen writes in with a good question:

A lot of personal finance books I read suggest putting your savings - especially stuff like emergency funds - in money market accounts. I’ve looked into them but I can’t figure out what the difference is between a money market account and a savings account. Why is a money market account preferable? What’s the difference?

First of all, let’s get some terminology straight. Most of the time, when a personal finance book refers to a “money market account,” they’re talking about a money market … Continue Reading