Are You OverExtended?

Are you managing your debt, or is it managing you? Practical guidance for managing personal debt and credit.

Get Started
  • Spending more than paying off
  • Trouble paying bills
  • Buying without down payments
  • Maxed out credit lines
  • Retirement not properly funded
  • No payoff strategy
Financial advisor

Recent Articles

How Your Debt-to-Income Ratio Affects Your Borrowing Power
Debt-To-Income Ratio

How Your Debt-to-Income Ratio Affects Your Borrowing Power

When you apply for a mortgage, a car loan, or even a credit card with a high limit, lenders don’t just look at your credit score. They also look at...

today Read More
How Your Credit Utilization Ratio Affects Your Score
Using Credit Tools

How Your Credit Utilization Ratio Affects Your Score

When you use a credit card, you are borrowing money from the bank that issued it. The amount you owe compared to your total credit limit is called...

today Read More
Your Credit Utilization Ratio: The Number That Matters More Than You Think
Credit Utilization

Your Credit Utilization Ratio: The Number That Matters More Than You Think

When you check your credit score, you probably know that paying bills on time is the biggest factor. But there is another number that quietly works...

today Read More
The Silent Warning Signs in Your Credit Report
Credit Report Monitoring

The Silent Warning Signs in Your Credit Report

Your credit report is like a financial health record that follows you everywhere. Lenders, landlords, and even some employers look at it to decide if...

today Read More

Popular Articles

How to Qualify for and Use Hardship Programs Responsibly
How Your Debt-to-Income Ratio Affects Your Borrowing Power
Is Debt Consolidation the Right Path to Financial Recovery?
Video

Consumer Credit Tips

Each video breaks down one practical way to get out from under debt and stay there — straightforward advice on credit, budgeting, and the habits that keep you from getting overextended again.

FAQ

Frequently Asked Questions

Living within your means and using credit as a tool—not a crutch. The foundation of a good credit history is a sustainable budget that allows you to pay all bills on time and keep debt levels manageable.

This rule suggests allocating 50% of income to needs, 30% to wants, and 20% to savings/debt. For those with high debt, the 20% toward debt may need to increase significantly, often requiring the "wants" category to be drastically reduced.

Debt consolidation involves taking out a new loan, typically at a lower interest rate, to pay off multiple existing high-interest debts. This simplifies your finances by combining several payments into one single monthly payment.

Different types of debt require different strategies. Prioritizing secured debts (e.g., avoiding homelessness) and high-interest debts (e.g., credit cards) is crucial, while some debts (e.g., medical) may have more flexible repayment or forgiveness options.

Budgeting apps (like Mint, YNAB, or EveryDollar) can automate tracking and provide clarity, making it easier to stick to your plan. However, a simple spreadsheet or pen and paper can be equally effective if used consistently.