Credit card debt is a nightmare of a problem for a vast majority of the American population. According to the Federal Reserve, in 2012 the average household carried just under $16,000 in credit card debt and approximately 56% of them had trouble making their monthly credit card payments.

Frustrated is how I’m feeling in regards to housing. I’m making a plan to purchase something – a townhouse or house – within the next 18 – 24 months and based on what’s available in my area, I’m utterly depressed.

American consumers’ spending habits have received criticism across the board from financial experts to online bloggers. Moreover, every now and then we hear about a pop star going bankrupt. But writing on this topic once again is necessary when you consider the ground realities.

I’ve become better at predicting the future or should I say, plotting out what might happen based on a choice I’ve made. I’ve developed this through trial and error. Thankfully, many of my poor choices occurred when I was young and I had time to repair them. That’s not the case for an old friend. He knowingly made one terrible choice many years ago and has been paying for it ever since.

Mortgage insurance may mean different things to different people – some people may see it as a life insurance policy that clears any outstanding mortgage debt in the event of your death, while others may think that is relates to protecting your mortgage repayments in the event that you lose your income.