Free Republic

When we hear money experts talking about how the accumulation of debt seriously hinders our ability to build wealth or comfortably retire, they’re usually talking about high-interest debt, like that associated with credit cards. Usually, they’re not talking about mortgage debt, which many money experts go so far as to call “good debt.” Why? Mortgage debt is sometimes called good debt because it’s associated with an investment that is expected to appreciate in value over time. Additionally, the vast majority of mortgages in the U.S. (92%, according to the Federal Reserve Bank of St. Louis) are fixed-rate, meaning the interest...

A little over a year after my husband and I bought our house, we refinanced our mortgage. Refinancing means paying closing costs again, but we'll break even after just four years. We could pay off our 30-year mortgage in just 23 years with the money we save, but we're putting it in a brokerage account...... The pros and cons of refinancing our mortgage Refinancing has pros and cons, and the decision to do so was one we didn't take lightly. One of the cons is that you typically have to repay closing costs. Anyone who has closed on a home...

Money Observations: Living within Your Means. The movies and Television broadcast over and over to live on other-peoples-money and to live beyond your means. But in the "Everyday Millionaires" book by Chris Hogan and on the "Millionaire Theme Hour" with Dave Ramsey, millionaires say over and over again to live within your means and to get debt out of your lives. Indeed, I did not. for the first 20 years of work, I dabbled in credit and did not have an emergency fund. Soon I found myself living paycheck to paycheck while having a decent salary. I saw something I...

When Cherie and Brian Lowe of suburban Indianapolis threw a party last spring, 150 well-wishers came bearing casseroles. This was no birthday or anniversary bash. Mr. Lowe, a lawyer, and Ms. Lowe, a stay-at-home mom, both 36 years old, were celebrating an accomplishment: paying off $127,482.30 in debt, mainly student loans. Partygoers came from as far as 200 miles away. Some had never met the Lowes but followed their quest through a blog called Queen of Free. Guests won prizes such as personal-finance books, museum passes and homemade cleaning supplies. One friend sang "Sallie Mae Is Not My Lender" to...

<p>More American households are falling back into the debt hole, this time without the safety net of home values to help bail them out, the New York Post reported Sunday.</p> <p>Last year, total US consumer debt reached its highest point in a decade, according to a credit card industry observer.</p>

My wife and I have been looking at the Dave Ramsey Financial Peace program. Anyone here tried it? If so, what were your sucesses and what were the difficulties you had in doing it. We did some traveling over the holidays and listened to one of his books on tape and found it interesting.....but words are always easier than actions. We're ready for some pain to make some gain......but are also looking out for problems we can eitehr avoid or use someone elses wisdom when we encounter them.