NEW YORK—The U.S. Treasury said on Monday it expects to pay down $26 billion in debt the second quarter, down from a January borrowing estimate of $66 billion, primarily because of an increase in receipts. The second-quarter estimate assumes an end-of-June cash balance of $800 billion. The Treasury has been paring back debt auction sizes…
Russia Faces Risk of ‘Orchestrated’ Default on State Debt: VTB CEO
Russia may face an “orchestrated” default on state debt due to Western sanctions which should not be seen as a technical default, the CEO of Russia’s second-largest lender VTB Andrey Kostin said in TV interview released on Friday. As Russia teeters on the brink of a historic default, foreign investors in the country’s debt have…
Focus on the Debt First, Then Save and Invest
Dear Dave, My husband and I have paid off all our credit card debt, and we are following your Baby Steps plan. We still owe about $40,000 on two cars, and our combined income is around $150,000. Since we have a good income, we were thinking about finishing our emergency fund and contributing to our…
Sri Lanka Halts Debt Repayment Pending IMF Bailout Plan
April 13, 2022
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COLOMBO, Sri Lanka—Sri Lanka is suspending its repayment of foreign debt, including bonds and government-to-government borrowing, pending the completion of a loan restructuring program with the International Monetary Fund to deal with the island nation’s worst economic crisis in decades, the government announced Tuesday. Sri Lankans in recent months have endured fuel and food shortages…
Are You Financially Literate?
Financial literacy is the possession of skills that allows people to make smart decisions with their money. Although understanding stats and facts about money is great, no one has truly grasped financial literacy until they can regularly do the right things with money that lead to the right financial outcomes. When you have this skill set, you’re able to understand…
Russia Threatens Legal Action If Forced Into Sovereign Debt Default
April 11, 2022
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Russia will take legal action if the West tries to force it to default on its sovereign debt, Finance Minister Anton Siluanov told the pro-Kremlin Izvestia newspaper on Monday, sharpening Moscow’s tone in its financial wrestle with the West. “Of course we will sue, because we have taken all the necessary steps to ensure that…
Forget the Fed, Pay Off Your Credit Card Debt
The cost of everything keeps creeping up. And if you happen to have credit card debt, that’s about to get a bit more expensive too, thanks to a series of interest rate increases beginning this month. With inflation at its highest rate since the early 1980s , the Federal Reserve is adjusting interest rates to…
How a 28-Year-Old Entrepreneur Paid Off Debt in 18-Months
Do you ever wish there was a silver bullet to paying off your student loans faster? Paid off debt makes you feel free and changes your perspective about what you can achieve. As millennials, we’re a generation hell-bent on pursuing our dreams with a YOLO mentality. Meanwhile, our paychecks disappear into monthly bills, loan payments…
Congressman Norman: Tackling the Unfunded Liabilities Ticking Timebomb
We sat down and spoke with Congressman Ralph Norman (R-S.C.), and we discussed the balancing act that America has found itself in: how do we be punitive towards Putin’s government without pushing Russia closer into China’s orbit, while at the same time dealing with the skyrocketing national debt that, if you include unfunded liabilities, sits…
Social Security: Whistling Past the $96 Trillion Graveyard
March 22, 2022
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Commentary Social Security has a problem. As Democrats push to expand entitlements to include free preschool and subsidized child care, little attention is getting paid to the fact that Social Security is a financial trainwreck. “The program’s payouts have exceeded revenue since 2010, but the recent past is nowhere near as grim as the future. According to…
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