The Latest Debt & Finance Blog

Man figuring budget on a calculator

Now Frugal Man Needs a Budget as Retirement Approaches

By Bill Fay | February 3, 2014

I stumbled upon one of those online calculators the other day. It’s the one that shows you how well you’re budgeting money for retirement savings, and it returned some distressing…

Financial guru Tarra Jackson offers money advice

High Cost of Keeping up with the Joneses

By Bill Fay | January 23, 2014

There is a family that is famous all over America for maintaining the appearance of wealth for the benefit of others. You know them as the Joneses. They have the…

One hundred dollar bill on top of a credit card

Frugal Man’s New Year’s Resolution: Only Pay with Cash

By Bill Fay | January 8, 2014

I took $20 the other night to the only restaurant I eat at – the one that gives half off everything on Tuesdays – and felt confident I had more…

Senator Elizabeth Warren speaking

Politicians Scramble to Fix Broken Student Loan System as Write-Offs Soar

By Bill Fay | January 8, 2014

Americans are taking out more loans than ever to pay for college and defaulting on them in record numbers. Politicians, most notably U.S. senators Dick Durbin, D-Ill., Jack Reed, D-R.I.…

Gift card display at a store

Frugal Man: ‘Bah, Humbug!’ to Gift Cards at Christmas

By Bill Fay | December 23, 2013

Christmas, as you might imagine, is a tough holiday for people like me. The premise of the holiday is no longer about giving or even receiving. It’s about spending. We…

CashCall mortgage information

CFPB Files Lawsuit Against CashCall for Illegal Online Loan Servicing

By Bill Fay | December 19, 2013

The Consumer Financial Protection Bureau (CFPB) sounded the alarm about online loan services, filing a lawsuit against CashCall Inc., for collecting exorbitant amounts of money the bureau says consumers didn’t…

The Federal Trade Commission Now Reviewing Student Loan Relief Industry

FTC’s Focus on the Student Loan Relief Industry

By Bill Fay | December 17, 2013

It’s hardly a surprise that loan consolidation is a popular option for people looking to lessen the burden of their student loan debt. Too many students today graduate with too…

Speaker of the House John Boehner speaks before the budget deal

U.S. House Passes Budget Deal; Senate Likely to Follow Suit

By Bill Fay | December 13, 2013

Democrats finally scored a victory in the U.S. House of Representatives on Thursday, joining Republicans to pass the Bipartisan Budget Act by a stunning margin of 332-94. The unanticipated truce…

People shopping on the holidays in a store

Holidays a Tough Time to Reduce Debt

By Bill Fay | December 10, 2013

The inevitable collision between year-end spending and budget restrictions is making this an uncomfortable holiday season for two vital groups in the American economy: Consumers and the federal government. American…

Education Secretary Arne Duncan talking to the media

Department of Education Nets $41.3B Profit in 2013 from Student Loans

By Bill Fay | November 27, 2013

A new government report shows the U.S. Department of Education generated $41.3 billion from federal student loans in the 2013 fiscal year, making it the third most profitable industry in…