Here’s something I learned, the hard way, while in college. The “real world” does not necessarily begin after graduation. Getting a full-time job or your own apartment does not define the “real world” and all the responsibilities that go along with it. As soon as are earning, spending, and/or saving money, you alone are responsible for those decisions. And they do matter. Here’s why—and a few other things that I wish I knew when I was a college student. [...]

For better or worse, debt settlement is all the rage these days. The New York Times wrote yesterday about a debt-ridden freelance writer who settled a $5,000 credit card debt for half of the original balance. The Today Show discussed debt settlement on its program this morning. What is debt settlement? Does it work? And what are the consequences of settling a debt for less than you owe? [...]

We saw it coming. Last month Congress and President Obama changed the rules for credit cards by signing the CARD Act into law. A few weeks later, the credit card companies are already responding by increasing interest rates on existing customers. Have you been hit with a rate jacking in the last month? Please share your story in a comment. Here are a couple examples I’ve already seen. [...]

Nearly all of the major U.S. credit card issuers have agreed to modify debt repayment terms for consumers enrolled in debt management plans, the National Foundation for Credit Counseling (NFCC) announced yesterday. If you’re struggling to repay credit card debt and are already enrolled in a debt management plan (or have ever considered one), here’s what the changes mean for you. [...]

Something I learned far too late into my twenties is that when you’re trying to get out of debt, finding the money to pay down debts is only half the battle. Sometimes, it’s even harder to avoid going into new debt than it is to pay down debts you already have. This year, for the first time in my life, it seems that I’m finally able to pay cash for everything. I have an emergency fund, and I’m confident that even if my car broke down tomorrow, I could fix it without tacking the bill onto my credit card balance. If you’re working your way out of debt, I’ve compiled some tips to help you with this half of the battle: Avoiding going into any new debt! [...]

Most don’t think twice about borrowing money for education. After all, borrowing money to pursue a college or graduate degree is an investment, right? We even call student loans “good debt” (as if there can be such a thing)! It’s true: Education unlocks opportunity and, often, the doors to higher income. Still, it’s wise to ask yourself: Is that degree really worth the student loan debt? [...]

At first, I was shocked to read that Suze Orman is recommending you pay only your minimum credit card payments and instead save cash in an emergency fund. It’s a total about-face from what Suze and probably 98% of personal finance writers typically recommend: above all else, get out of debt. But, given these unprecedented economic times, I think I agree. Do you? [...]

Now here’s a twist on credit card promotions: American Express is offering to pay certain cardmembers $300 (on a prepaid debit card) if they pay off their balance before April 30, 2009 and close their credit card account. To take advantage, you must enroll online by Feb. 28, 2009. [...]

Channel surfing last Friday night, I caught a few minutes of Suze Orman on CNBC. She had on her show not only the worst case of “living above your means” I have ever seen, but the worst case Suze has seen, too! [...]

Loan modification companies are sprouting up left and right to take advantage of embattled home owners at risk of foreclosure. If this includes you; watch out. Some loan modification companies are nothing but down and dirty scams. [...]