By Amanda Breen It was 2017, the year before they got married, when Ali and Josh Lupo took a serious look at their finances—and realized they owed more than $100,000 in student loans. Despite working long, hard hours in human services, the couple was still living paycheck-to-paycheck, unsure how they’d afford a wedding or pay…
How to Change Your Money Mindset in 2023, According to This Couple Who Paid Off More Than $100,000 in Debt
January 3, 2023
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An Old Debt Carries Over to a New Year
Commentary “Blessed are the young for they shall inherit the national debt.”—Herbert Hoover “Rather go to bed without dinner than to rise in debt.”—Benjamin Franklin Eighteen Republican senators voted for the monstrosity known as the $1.7 trillion Omnibus spending bill, thus forever relinquishing their claim to belong to a party committed to less spending, smaller government, and…
Biden Admin and Fed Market Distortion
December 9, 2022
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Commentary Federal Reserve control over interest rates, combined with government money creation, distorts markets, causing booms and busts, high household debt, government deficits, and high real estate and education prices. President Joe Biden’s student loan forgiveness program will increase educational costs while increasing government spending by as much as $1.6 trillion. The market for nearly…
A Church Car? You’ve Got to Be Kidding!
Dear Dave, My mom took out a Parent PLUS loan in 2009 to help pay for my college education. I also took out $70,000 in student loans myself. My mom never made a payment on the loan she took out for me, and now the amount due on the Parent PLUS loan has ballooned to…
FX Swap Debt a $80 Trillion ‘Blind Spot’ Global Regulator Says
LONDON—Pension funds and other ‘non-bank’ financial firms have more than $80 trillion of hidden, off-balance sheet dollar debt in FX swaps, the Bank for International Settlements (BIS) said. The BIS, dubbed the central bank to the world’s central banks, also said in its latest quarterly report that 2022’s market upheaval had largely been navigated without…
Holiday Survival Tips From 5 Financial Pros
For Ryan Decker, surviving the holiday shopping season is all about planning ahead. In fact, if he sees a gift for one of his two young sons in March, he’ll go ahead and buy it, instead of rushing through his shopping list in December. “It very much eases the burden,” he says, making his December…
4 Ways to Limit Your Holiday Debt
There’s a magical feeling in the air this time of year, but that magic costs money. Every year, the pressure looms large to spend more to create perfect holidays. This high-cost season can leave you with debt that sticks around. According to NerdWallet’s 2022 Holiday Shopping Report, 31 percent of 2021 U.S. holiday shoppers who…
Book Review: ‘The Economy of Promises: Trust, Power, and Credit in America’
Bruce G. Carruthers, the John D. MacArthur professor of sociology at Northwestern University, has written a new book entitled “The Economy of Promises: Trust, Power, and Credit in America.” In his book, Carruthers thoroughly presents the history of America’s credit economy, going back to the beginning of the republic to modern times. This will indeed…
Inflation Top Worry for G20 Countries: Survey
Runaway inflation, an unfolding debt crisis, and cost-of-living problems pose the biggest threats to doing business for G20 countries in the next two years, data from the World Economic Forum showed on Monday. Inflation has surged to levels not seen in several decades, prompting a third of G20 countries to identify rising prices as their…
Into a Global Debt Crisis
Commentary There have been three major sovereign debt crisis episodes during the past 200 years. The first one occurred after the Napoleonic wars between 1827 and 1860. The second one occurred during and after the Great Depression and World War II, and the third one during the era of commodity-price and banking crises from around…
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