Weekly Round Up – September 6, 2013

Debt

Debt

 Before we get to the good reads!

Check out this beastly resource on how to build passive income, and let me know what you  think.

 A Few Good Reads

Here are a few of my favorite reads from the past week.

 1. Tropical island paradise tops debt league: 

The Seychelles islands in the Indian Ocean, better known for their pristine beaches and crystal  clear waters, are the most indebted nation in the world, according to a new report released on Monday. The “debt league” compiled data on government debt and private debt and looked at how much a country owes as well as how much it is owed.  According to this measure, the Seychelles tops the league of the most indebted nations, with national net debt at 152 percent of gross domestic product (GDP). In order of indebtedness, it is followed by Portugal, Ireland and Greece, countries which like the Seychelles in 2008, received international bailouts. Open this article

2. Why You Should Die With A Lot Of Credit Card Debt: 

I’m not actually recommending that you run up your credit card balance before death but I thought that was a pretty catchy headline. Nevertheless, what I am about to tell you sure came as a surprise to me when I experienced it first hand (just to clarify…I did not die) and sure enough this article from CreditCards.com about what happens to credit card debt after death confirms my story. It’s a pretty shocking loophole in the laws surrounding death, debt, credit cards, and inheritance. Open this article

3. College Leaves Grads in Debt Brewing Coffee: 

Is college worth it? More and more recent graduates – and their parents – are asking that question as they send out resumes, wait tables, and live at home – all while paying off hefty student loans. It’s long been believed that a college degree is a ticket to secure, financially rewarding employment. Back in 1974, Jacob Mincer’s Schooling, Experience and Earnings came up with what is called “the rate of return to education,” estimated by researchers at 6-10 percent. Every year of additional education is said to pad annual salary by 6 to 10 percent. Open this article

4. Is student loan debt the next housing crisis? 

As we look back at five years since the financial and housing crisis began, we see another possible bubble forming: student loans. But can the two really be compared? “Those are two different stories that are going to end in two different ways,” says Betsy Mayotte, director of regulatory compliance at the nonprofit American Student Assistance.  The biggest difference, Mayotte says, is that in the case of the mortgage crisis, there was a physical asset to walk away from — or for the bank to foreclose on. Open this article

5. Drilling take not eyed for airport debt: 

Pittsburgh International Airport likely will not use a portion of the estimated $500 million it could reap from drilling for natural gas to pay down its $339 million debt. Airport officials believe there is little economic advantage to channeling money from the Marcellus shale drilling toward the debt and away from lowering gate fees or aiding with development. Open this article

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Carnivals

This That and The MBA was included in several carnivals over the last weeks:

1. http://www.rather-be-shopping.com/blog/2013/09/01/carnival-of-money-pros/

2. http://www.frugalrules.com/yakezie-carnival-labor-day/

3. http://momanddadmoney.com/2013/09/financial-carnival-young-adults-labor-day-edition.html

4. http://moneybulldog.co.uk/carnival-of-financial-planning/

5. http://bitethebulletinvesting.com/Blog/carnival-of-retirement-labor-day-edition/

Thank you for the mentions last week. I really appreciate it. Have a great weekend!

-Christopher-

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Comments

  1. Something is going to have to give with the student loan debt in this country. Either the government bails everyone out or colleges lower their prices or people just stop going to college. I do not see the first two happening. I think education is important, but going to college is not as important as it once was IMO.

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