Snarky Thoughts on Personal Finance From a Dad of Two

Why You’re Broke #2: The Student Loan Burden

Don't let college costs be a source of financial ruin.

Don’t let college costs be a source of financial ruin.

There’s a common belief that student loan is “good debt” because it’s an investment in the future. A degree, people say, will result in higher earning power later in life.

College is a great thing. Most days, I wish I could go back to college. But truth of the matter is that the cost of college—or more accurately, the volume of student loan debt that students are collecting—has become one of our nation’s greatest crises. Continue reading

Your Mortgage Is Killing You: Why You’re Broke, #1

Is your house sucking your bank account dry?

Is your house sucking your bank account dry?

I started this blog post with the intention of writing a quick list of all of the reasons people find themselves in debt. But after examining the issue a bit, I realized that many of the individual reasons required some deep explanation and a post of their own. 

Personal debt is a major problem in this country and it stems from a variety of things ranging from high unemployment, low wage growth and bad luck. But people can protect themselves against the dangers of debt by avoiding bad choices with regard to their money. In short, debt comes down to spending more than your earn, and it’s a problem not just affecting poor people; there are many people with six-figure incomes who struggle to make ends meet on a daily basis.

Today, I will take a look at one major reason for people’s debt problems: their mortgage.  Continue reading