Category: debt

What Farmers Can Teach Us About Finances

Dear Readers: In the fast-paced financial world we live in, with its focus on trading trends, online platforms, and market movements, it’s easy to get lost in the weeds and lose sight of the grounding principles of managing money that are essential to long-term success. So with spring in the air and buds on the…


Not Really an Emergency

Dear Dave, My husband and I are close to having our home paid off and being completely debt-free. Can we dip into our emergency fund to pay off the house? Enid   Dear Enid, I’m not sure I’d recommend doing this. I might think about it if your emergency fund is way too big, plus you have a very small amount…


High School Science Teacher Shares How He Paid Off $57,000 in Student Loans in Just One Year

Jonté Lee, a high school teacher from Washington, D.C., went viral in 2020 for turning his kitchen into a chemistry lab to enrich his students’ virtual learning experience. However, he has also made headlines for paying off over $57,000 in private student loan debt in just one year. In an email interview with The Epoch…


Couple Build Tiny Home to Pay Off $125,000 Debt in 2 Years, Embrace ‘Tiny Lifestyle’

Determined to get out of their six-figure debt, couple Marek and Ko Bush drafted a plan to downsize their debt by miniaturizing their home. Two years later, after moving into the tiny house they designed, the couple became completely debt-free—and ready to tackle the next project in their lives: building a family. Their baby girl…


Queensland Government Risks Future Debt Burden: Auditor

Auditor-General Brendan Worrall has handed down his report into the Australian state of Queensland’s finances for 2020, finding that the state government is at risk of unduly burdening future generations of Queenslanders with debt. This is primarily being driven by the pandemic’s impact, which has seen Queensland’s revenue going down and expenses going up. Over…


Should You Refinance Your Student Loans?

If you’re feeling crushed by your student loan debt right now, you’re not alone. I’ve been there. I get that it can feel like a huge burden you’ll never get off your shoulders. But listen: There’s light at the end of the tunnel! There are plenty of ways to get intense about paying off debt….


Timeless Wisdom: National Debt, or National Greatness

The United States has passed a foreboding milestone: $28 trillion in national debt. In 2021, the federal debt alone is projected to be 102 percent of gross domestic product—which does not include the $1.9 trillion “American Rescue Plan” that President Biden recently signed into law. The debt-to-GDP ratio has only exceeded 102 percent twice in…


You May Already Have Some

Dear Dave, I started listening to your radio show recently, and I heard you say people should have 10 to 12 times their yearly income in life insurance. I’m single, with no plans to get married. Plus, I don’t have any children. Do I still need a big life insurance policy like that? Kris  …


Report Shows Manitoba Hydro Debt the ‘Scandal of the Century’: Premier

WINNIPEG—Premier Brian Pallister says the handling of Manitoba Hydro under the former NDP government is “the scandal of the century.” A review of the Crown corporation released last week found a lack of government oversight led to cost overruns and a large increase in debt. The review by former Saskatchewan premier Brad Wall delved into…


3 Ways to Stop Spending and Start Saving

Did you know nearly 40 percent of Americans can’t cover a $400 expense from their savings? People give many different reasons for not being able to save money, and I’ve heard them all. Some people do have it harder than others, but I’ve also seen enough single moms work three jobs to change their family…