Tag: debt payoff

April 10, 2025 Off

Cash Your Coins, Boost Your Finances

This article explores ways to turn spare change into cash, as fewer people use cash these days. Options include online tasks (surveys, app testing) for potential earnings of $225-$1000/month, and exchanging coins directly. Banks and credit unions may offer free or fee-based exchanges, while Coinstar and Publix machines provide convenient, albeit fee-based, coin-counting services. The article suggests using the converted cash to pay off debt, build an emergency

December 30, 2024 Off

Retirement Savings vs. Debt: Should You Borrow From Your 401(k)?

By The Admiral Staff

A reader considering paying off $10,000 in debt with a loan from their retirement plan is advised against it, despite the appeal of paying interest to themselves and avoiding taxes. The financial advisor cautions that taking the loan would hinder retirement savings growth, prevent further contributions (potentially missing out on employer matching), and carries risks like immediate repayment requirements upon job loss, leading to taxes and penalties. Instead, they suggest exploring options like debt consolidation loans, balance transfer credit cards, or the debt snowball

November 6, 2024 Off

Breaking the 700 Barrier: Simple Steps to Boost Your Credit Score

By The Admiral Staff

This article suggests four actionable steps to boost a credit score above 700, all achievable within a week. First, write a “goodwill letter” to creditors explaining past mistakes and demonstrating a commitment to improvement. Second, utilize the free website Credit Sesame to identify specific areas for improvement based on your unique credit profile. Third, explore MoneyLion to potentially lower credit card interest rates by up to 70%, accelerating debt payoff. Finally, switch to a debit card from Chime to avoid

September 15, 2024 Off

18 Days to Debt Freedom: Your Challenge Starts Now

By The Admiral Staff

This article outlines an 18-day challenge designed to help people pay off credit card debt. It begins by suggesting users apply for a low-interest personal loan through AmOne to consolidate debt. Subsequent days involve steps like assessing debt with Credit Sesame, earning extra money through apps like Bingo Cash and Survey Junkie, canceling car insurance via EverQuote, and utilizing price-tracking tools. The challenge also includes a week-long “no spend” period and encourages users to earn money playing games like

March 17, 2024 Off

From Broke to Budget Boss: How I Paid Off Half My Student Loans at 25

By The Admiral Staff

This article details a young woman’s journey to paying off nearly half of her student loan debt while earning $15 an hour. She emphasizes that budgeting is key to taking control of your finances. The process involves tracking spending, setting financial goals, analyzing expenses, building a budget (using tools like YNAB, spreadsheets, or pen and paper), assigning a purpose to every dollar, staying vigilant with spending, and being realistic with adjustments. The author stresses that budgeting isn’t rigid and encourages incorporating

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