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YUCKIES: Young Unwitting Costly Kids

Who are YUCKIES? They are Young Unwitting Costly Kids—18 to 30 year olds who won’t (or can’t) leave the family nest behind, citing an inability to be financially independent. They feel it’s the norm for their parents…
Would You Let Someone Else Pay Off Your Debt?

I saw this article on CNN.com about a woman whose husband paid off her very substantial student loan debt- double-digit kind of substantial. It's a very sweet little story about how she was up front from the beginnin…
Lending Money to Strangers: Is Peer Lending the Newest Trend in Loans?

The tight fists of traditional lenders have led to a movement that is at once old and new. Peer-to-Peer lending is descriptively named, as it's the practice of private individuals seeking loans from other people inst…
Double Standard When it Comes to Walking Away from Mortgage Debt

There's a double standard when it comes to intentionally walking away from mortgage debt when debt payments may still be affordable. When it's a business and commercial real estate is involved, no one bats an eye whe…
5 Types of Debt to Avoid

Image Source We've all heard about avoiding debt if possible, such as racking up credit card debt. And when going into debt that's necessary like student loans or mortgages, only take out the minimum that you need and…
Pawnshops Are Doing Brisk Business

Image Source According to this article from Time, pawnshop business is going strong in this weak economy, up 20-25% from before. Pawnshops work in two ways: they either purchase items from people at a fraction of th…
Would You Take Out a Loan for the Wedding of Your Dreams?

My wedding day isn't for another 16 months, and my fiance and I are paying for the big day ourselves. We began trying to save up money, with a target budget around $6,000. It was going to be a stretch for us, we were…
Should I Pull Out a Loan for a Car?

I've been doing some car window shopping, and I can see that most of my options are way above the family budget. (I shouldn't really call it a"family budget"—it's mostly how much everyone is willing to contribute.)…
Advice: Should I Lend Money to a Friend?

From one of our readers: A friend of mine is switching apartments and having trouble getting money together for his first month, when he'll have to pay rent and a security deposit (equal to another month's rent). He…
Student Debt on the Rise

The New York Times' college blog The Choice recently posted about a new report that found the average debt of college graduates rose by $4,550 over the past four years to a staggering $23,2000. This news comes from th…