Debt Management

New Online Tools to manage Credit, Debt & Expenses

These are helpful online tools to help you financially. Remember, it’s no fun being stressed because your finances are out of control. Take control now, and enjoy the fruits of your efforts along the way.

 
Understand The Major Causes of Overwhelming Debt
Debt in moderation can be considered healthy debt as it can be used to purchase a new home or a needed vehicle. Too much debt can keep us in bondage and prevent us from living in financial freedom. Having debt up to our eyeballs can be very stressful. Overwhelming debt may take more than a day to appear. Rather than happening overnight, this type of debt can creep up on us. Listed are the top five causes of overwhelming debt. Check out All Financial Online Inc

Your Money
When it comes to your money, there’s no need to wing it: Several new online tools debuted at the Finovate Conference in San Francisco to help take the vagueness of out how much you really have, owe or are owed. Check them out

Managing Your Debt
Debt Coach from Bills.com offers side-by-side options for getting out of debt, including a cost-benefit analysis of refinancing, debt counseling, and different payment strategies. Check it out

Managing Your Credit Score
Mint.com, already a popular platform to create online budgets, unveiled a new tool for managing credit scores on a mobile device. The new tool is useful for people who are heading toward a major financing event, such as buying a home or car.Check it out

Managing Receipts and Expenses
As small business gets more micro and mobile, the line between business expenses and personal expenses is increasingly blurry for many entrepreneurs, and keeping track of charges and receipts has become a job unto itself.
Expensify.com has already established itself as one of the premier online tools for tracking expenses. Check it out

Managing Shared Bills
Nearly anyone who has ever had a roommate understands the aggravation of tracking down the payments for shared bills. Check out billsarein.com

 

 

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Credit Card Debt: Falling, But Still Very High

by: Palash Ghosh
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Consumer credit card debt in the U.S. has been edging down in recent years after peaking in July 2008 at $1 trillion (about the size of Mexico’s annual GDP). According to data from the Federal Reserve, as of July 2013, the average indebted household in the U.S. carries credit card debt of $15,325, although that figure is somewhat skewed by a small number of extraordinarily debt-stricken families and couples. But that average credit card balance pales in comparison with average mortgage debt ($147,924) and average student loan debt ($32,041). On the whole, American consumers currently owe an aggregate of $856.5 billion in credit card debt. This figure has been falling since the height of the global financial crisis –- not just because some creditors repaying off their balances, but due to rising defaults, thereby wiping out debts off the books as credit card companies and banks simply wrote off seriously delinquent debts. That phenomenon coincided with soaring unemployment and personal bankruptcies. read full article

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