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The U.S. Federal Reserve is actively preparing for the possibility that the United States could default as a deadline for raising the government’s $14.3 trillion borrowing limit looms, a top Fed policymaker said on Wednesday.

Philadelphia Federal Reserve Bank President Charles Plosser said the Fed has for the past few months been working closely with Treasury, ironing out what to do if the world’s biggest economy runs out of cash on August 2.

“We are in contingency planning mode,” Plosser told Reuters in an interview at the regional central bank’s headquarters in Philadelphia. “We are all engaged … It’s a very active process.”

Plosser said his “gut feeling” was that President Barack Obama and Congress will come to an agreement to increase the Treasury’s borrowing authority in time to avert a default on government obligations.

Obama was due to meet with top Republicans in Congress on Wednesday to discuss the latest attempts to end the dispute over raising the country’s debt ceiling, a row which has raised the prospect of the Treaury Department running out of money to pay its bills next month.

The Treasury has repeatedly said default was unthinkable and that there was no alternative to raising the debt ceiling, and Plosser’s remarks marked the most extensive public comments on the matter from a U.S.

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I’ve been preparing our post-baby delivery finances and things aren’t looking good. Between the loss of roommate income and the addition of daycare expenses, we won’t be making those $1,200 debt payments each month.

In fact, for a while, we will only be making minimums on student loans. At best, we can hope for a killer tax refund next year to pay off the remaining debt, otherwise… we’ll be in this minimum payment boat for a while and it’s hard not to feel overwhelmed at the sudden loss of momentum.

Since we both received nice pay increases this year, we will likely have to wait two years for further income boosts.

I worked myself into a nice emotional tizzy until I remembered that I need to be more optimistic so I sat down and wrote a list.

I’m grateful we don’t have car or credit card debt. Those payments would sink us. I’m grateful my husband will graduate a few days before the baby is born. No more tuition payments!!! I’m grateful we have a healthy emergency fund and savings account. I sleep a little better with them. I’m grateful we have some household items to sell after helping someone move. We will likely be able to buy all the necessary baby furniture with that cash. Otherwise, I’m not su

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A few years ago I was talking to a friend of mine who want to get out of debt.  They had a sufficient cash flow however it seemed that they were slowly falling deeper and deeper into debt with no way to stop it.  The problem was that they didnt have a viable way to organize their debt and pay off without continually going in circles.  This is when I told them about DebtGoal. In fact, DebtGoal gets you out of debt faster. Start your FREE 7-day trial today!

In this review Im going to show you exactly how this program works, what I like about it so much, what I dont like, and finally who this program will suit the best.  Are you ready to get started?

First off, DebtGoal is not a debt negotiation company.  Instead they are a do it yourself debt relief program that allows you to pay off your debt on your terms.  In fact the chart below show exactly why they are different from a debt settlement company.

To get started with DebtGoal all you have to is sign up for your free 7 day trial.  Once your signed up into the program youll need to add all of your debts by linking your accounts directly into the program.  The great

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Knowing who to trust for financial advice can be tricky – salespeople often try to buy our trust so that they can sell us their products, but do not be fooled – 9 times out of 10, these people do not have your best financial interests at heart.

Within the world of financial services and insurance, there are independent financial advisors and tied-in financial advisors. The latter applies to a consultant who is contracted to only sell products for a particular financial services provider. You would find this type of financial advisor in an organisation such as Liberty or Old Mutual. These people would be able to compare products within the Liberty stable, for example, but would not be able to offer you anything outside of what Liberty offers.

If you want to shop around, using a tied-in financial advisor is obviously fairly limiting, unless you conduct the same process simultaneously with all the big companies, to establish for yourself which product is best suited to you. The issue of trust, however, is a key issue here. Knowing that these FA’s can only sell you a product from one financial services provider should automatically ring an alarm bell when it comes to trust. These

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