Common questions you might have as you begin paying down your debt

Frequently Asked Questions When Paying Down Debt

The TDS Library

Pay Off Debts or Save First?

Gary Foreman

We ask a CFP this important question.

What Does My Debt Cost Me?

Gary Foreman

Borrowing money does cost you. You may be paying all your bills on time and have a good credit score. But, don't kid yourself; you pay a price for being in debt.

Emergency Fund or Debt Repayment?

Gary Foreman

Which should he do first?

Which to Tackle First: Smallest Bill? Or Highest Rate?

Gary Foreman

Just where should you begin when you start tackling that debt? The smartest choice for your finances might not be the best choice for your willpower to stick with your debt repayment plan. See how to pick the option that will give you the best chance of being successul on your journey to financial freedom.

Debt Book

Can Those Debt Reduction Ads Really Reduce My Debt?

Gary Foreman

Most of us have heard them. Ads encouraging us to call them and have our debt reduced. And, most of us have wondered if it can possibly be true. Here is a hard look at those ads.

Debt Consolidation Loans: A Way Out? Or Just Getting You in Deeper?

Gary Foreman

While debt consolidation loans can be a big help to some in paying off debt, they can actually make the siutation worse for others. Here is how to decide not only if a debt consolidation loan might be a good option for you, but also how big your debt problem actually might be.

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How Do I Budget for Debt Repayment?

Gary Foreman

How much debt repayment can you fit into your budget? Obviously everyone's situation is different. Use these guidelines to determine how much you can afford to put towards your debt repayment.

Use My 401k to Pay Off Debt?

Gary Foreman

More and more people are asking this question. They have trouble keeping up with their credit card bills. At the same time they have assets stashed away in a retirement plan. Does it make sense to tap into those funds to pay off current bills? Here's a look at what would happen if you did take money out of your 401k plan to pay off bills.

Balance Transfer vs. Personal Loan for Debt Relief?


Here are 6 things to consider when deciding how to consolidate credit card debt.

Should I Refinance My Mortgage?

Rick Kahler

There are a handful of variables you should consider to determine if a refinance makes good financial sense. Here are the factors you should not overlook.

Should I Prepay My Auto Loan to Pay it Off Faster?

Gary Foreman

How your car payments are applied to your loan can make a big difference in the cost of your car. Use these guidelines to make sure prepaying your auto loan is actually going to save you money.

Which Debt First?

Gary Foreman

When there's some extra money at the end of the month, which debt should be paid off first? Your mortgage? Your car? Your credit cards? The answer is different for everyone. here is how decide the best course of action for your siutation.

Do My Debts Pass on to My Kids after Death?


Whether your debt will haunt your children depends on their liability for the accounts today.

Emergency Savings vs. Debt Reduction

Derrick Gunter

Why should I save money in a low interest account when I have debts that have higher interest?

A Lot of Debt, Some Cash and a New Car

Gary Foreman

Pay cash for the car? Or pay down the credit cards?

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