Quick and Dirty Tips

Good Debt vs Bad Debt: Your Plan for Paying Off Debt Faster

Posted: 17 Nov 2021 12:10 AM PST

Many people think that all debt is bad and should be avoided or paid down as quickly as possible. However, you should break down debt into two types: good and bad. It's essential to understand their differences so you stay away from bad debt as much as possible and leverage good debt when it can help you.

This post will cover the differences between good and bad debt and some practical examples. Plus, I'll review seven simple steps for paying off your debt as quickly as possible. Understanding these concepts will help you save money, build your net worth, and create more financial security for the future.

Examples of good debt

One way to know if a debt is good or bad is to ask yourself if it pays for something that will appreciate or depreciate over time. If you use debt to finance an asset that can or should increase in value, it's typically good. And debt that finances something that loses value is terrible.

Good debt is good because it can increase your net worth or wealth over time. One example is a home mortgage, which allows you to purchase an asset that typically appreciates over time. While there's no guarantee that your home will be worth more in five years than today, in general, real estate appreciates about 3% to 5% per year.

In 2021, there are parts of the country that have seen home prices rise 20%! But it depends on where you live and the features of your property. Plus, mortgage rates are at historic lows, making them one of the least inexpensive debts to repay.

A certain amount of interest you pay on mortgages and home equity loans is tax-deductible, making them cost even less on an after-tax basis. The combination of benefits makes getting a mortgage for an affordable home one of the best possible debts.

Another good debt is a loan for a college education. While a student loan isn't backed by an...

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5 Ways to Save Yourself from Overeating this Thanksgiving

Posted: 16 Nov 2021 03:10 PM PST

Thanksgiving is a time to gather with friends and family, be grateful for all we have, and stuff ourselves silly. I'm not that concerned about the long term consequences of this. As I've said before, a single day of excess isn't going to make you gain weight any more than a one-day juice fast is going to make you lose weight.

Nonetheless, it's no fun to push yourself away from the table and realize - too late! - that you've eaten to the point of discomfort.

Here are 5 strategies that can help you enjoy this year's feast without regrets:

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Thanksgiving Tip #1: Keep the Appetizers Light

The traditional Thanksgiving menu features a lot of heavy, rich dishes - lots of starches, creamy casseroles, and everything is dripping with butter and gravy. It's not a light meal. Unfortunately, the pre-dinner snacks tend to be just as heavy and rich as the main event! All too often people sit down to dinner already half-full from the snacks they've been nibbling all afternoon while dinner is prepared.

Rather than filling up on calorie-dense appetizers like cheese and crackers, clam dip, nuts, and bacon-wrapped pineapple chunks, keep the pre-dinner snacks light: crisp radishes and snow peas with a yogurt based dip, kale chips, and steamed edamame, for example. Clearing away all the snacks about an hour before dinner will also help ensure that people sit down to the table with an appetite.

Thanksgiving Tip #2: Use Smaller Plates

Research shows that when we use smaller plates, we serve ourselves smaller portions, consume fewer calories, but feel just as satisfied as we do after eating more calories off of larger plates. Now consider that the average size of dinner plates has gone from 9 to 13 inches over the last 30 years and our rising rates of obesity don't seem that surprising.

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Wednesday, November 17, 2021