Credit & Debt

The vast majority of people will never progress financially without a spending plan. If you've resisted living on a budget, it's time you seriously considered the nine benefits of creating one.

Have you ever wished you could begin again — wipe the slate clean and start over? Many who are carrying heavy debt loads sure wish they could. If you're among them, the good news is that you can make great strides in the year to come. Here's a good way to start.

Have you ever figured out what your holiday gift-giving actually costs you? We provide a few tried and true ideas to help keep the lid on your holiday expenses this season.

Chafing over the low yields available today on traditional savings products? If you have at least a three-year time horizon, you might want to consider Lending Club.

Modern life has convinced many people that cash is a pain and credit/debit cards are the way to go. Here are five reasons to reconsider your relationship with cash.

"God designed marriage to be a blessing. He intends married couples to use money — even challenges with money, even crises with money — to bring them closer together rather than separating them." So says Howard Dayton, founder of Compass — Finances God's Way, in describing the Money and Marriage God's Way small group study they've recently released.

Credit-card companies are ramping up efforts to find new customers by offering attractive sign-up perks. Just keep in mind that cards are set up to ultimately benefit the issuer, not you.

We've heard the warnings for decades: At every level (personal, municipal, state, national), we are borrowing and spending too much. The financial crisis of 2008 showed how quickly things can turn ugly when the credit mechanisms of a deeply indebted world seize up. Many fear that by attempting to "fix" the problem with still more debt, we may have sown the seeds of an eventual repeat (or worse) of the recent crisis. Whether or not that ultimately happens, we need to examine our personal attitudes about debt and make sure they conform to the Bible's clear teaching on the subject.

Husbands and wives typically respond to debt in very different ways — sometimes creating serious conflict. Understanding these eight common reactions will help you understand your spouse better and guard your relationship against the dangers of debt.

In this conclusion of a two-part series, Russ suggests practical steps a husband and wife can take to minimize the potential for debt to harm their marriage.

Recognizing what went wrong last time may help you succeed in creating a new spending plan that really works.

The Credit Card Accountability, Responsibility, and Disclosure Act of 2009 prohibits issuance of a credit card to anyone under age 21 — unless the young person has an adult co-signer or an "independent means" of repayment. We explain what this means for young adults heading to campus this fall.

Because of the emphasis placed on credit scores by lenders, landlords, and employers, knowing your score — or at least one version of it — is a smart move. We explain the options for finding out how you rate.

Think you can't get into financial trouble if you use a debit card rather than a credit card? Think again. Debit cards carry plenty of risks too.

A "smartphone" can be a terrific tool for tracking your spending and keep your finances up-to-date. We review several apps that can make it happen.

Planning your wedding doesn't have to be an exercise in frayed nerves and busted budgets. With flexible strategies, savvy shopping, and creative approaches, planning a wedding can be a positive and educational experience — for both bride and groom.

Unable to make ends meet? You may not want to hear this, but the culprit may be sitting in your driveway.

"We'd like to start prepaying our mortgage, but we can't do that and invest for retirement. Which should have the priority?" Good question. Let's run the numbers.

In the wake of a new credit-card law, card issuers have been raising rates and altering payment terms. We explain what to watch out for, and detail why you may want to make a few new rules of your own.

Faith-based personal-financial bloggers are a great — and growing — resource for readers seeking solid advice from a Christian perspective.

For financially struggling homeowners, "Home Sweet Home" isn't so sweet anymore. Although many are willing to just "walk away," there are better approaches.

The government's new Income-Based Repayment program gives low-income borrowers extra time to pay off their loans.

When a husband and wife pray together about their finances, each learns what's important to the other — and together they invite the God of the universe to be personally involved with their earning and spending.

The goal of debt-settlement companies is to persuade creditors to accept a discounted lump-sum payment in fulfillment of a debt, helping debtors get out of debt sooner. It's a tempting idea, but debt settlement is fraught with perils.

Credit-reporting errors are common, and so is identity theft. You can fight back against both. Here's how.

How do you actually implement a spending plan and stick to it? We offer an overview of several common methods used to stay on budget.

Making financial progress requires setting limits in each of your spending categories. Here's how.

Tracking your income and expenses is the first step toward becoming a faithful steward of what the Lord entrusts to you.

If you'd rather not make financial progress in 2009, we have some excellent excuses you can use.

The current pullback in available credit makes a painfully clear point: there is no reliable substitute for personal savings.

Most of us know that debt is a dangerous tool. Scripture is full of warnings regarding its use. But there are some times when its use is even more perilous than usual. Here are five times when debt can lead us into serious danger.

In these times of tight credit, you might be eyeing your 401(k) retirement account as a source of quick cash. But before you "borrow from yourself," be sure you understand the downside.

Generations of readers have discovered the secrets of building wealth from the wise teacher Arkad, Babylon's richest man — as imagined by George S. Clason in his classic 1926 book.

An SMI reader relates how he went from being debt-laden at age 26 to being debt-free at 30, and what he learned along the way.

How does your credit situation look through a banker's eyes? A simple calculation can tell you.

How much debt, if any, should you have? The Bible doesn't give a one-size-fits-all answer regarding debt. But it does offer some reasonable principles and boundaries within which we can operate.

Have a mortgage? There's a sure-fire way to cut its cost over the long term. But first, you may need to change your way of thinking.

John F. Kennedy once said the word 'crisis' in Chinese is composed of two characters: one representing danger and the other opportunity. The credit crisis of the past several months has certainly presented plenty of danger. But it may also be offering some homeowners an opportunity.

Studies consistently show that consumers spend more when paying with a credit card than they do when spending cash. But if you've decided to use a credit card anyway, you may as well maximize the benefits.

You can now track your spending, check your balances, and monitor your cash flow via the Internet — using a no-frills site that doesn't cost a thing.

Want to earn a decent interest rate while helping someone out with a small loan? That's the attractive proposition offered by new peer-to-peer lending services. While the concept is intriguing, it is also quite a large step up in risk from traditional savings vehicles. Here's an introduction.

Here are 10 simple ideas that can help you make this Christmas a no-debt Christmas.

Can you really have an all-cash Christmas? Sure. Financial tipster Mary Hunt has ideas on how to make it happen.