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Using Cash vs. Using Credit

February 1, 2008

Over at MoneySavingMom.com, Mom gives us her take on using cash over credit. We both see eye to eye on this point. Anyway, her post is excellent and caused a great discussion of over 150 comments. Here’s a brief snippet:

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Mortgage company won’t let us sell the house!

January 3, 2008

Dear Dave,
My wife and I recently moved, but we still own our old house out of state and owe about $122,000 on that mortgage. We took out a 125% mortgage to allow us to do debt consolidation and give us extra cash. We owe about $34,000 on that second mortgage, so now we owe $156,000 [...]

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Tell your money what to do!

January 3, 2008

Having fun Christmas shopping? Well, once Christmas is over, it’s time to transition back to a normal daily routine. Don’t sigh, though! This is also a time where you can start fresh and make your money work for you! Here are some key points in developing and sticking to your budget this month:
Write it down. [...]

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Worried about bankruptcy…

January 2, 2008

Question:
My wife and I are both 30, and we’re afraid we may have to file bankruptcy. We make $70,000 a year, credit card debt of $23,000, a home with a $143,000 balance, $10,000 in student loans and $5000 in medical expenses. We’ve cut up the cards, but things look pretty bad and we’re thinking about [...]