Staff Writer

Bill Fay

Bill “No Pay” Fay has lived a meager financial existence his entire life. He started writing/bragging about it in 2012, helping birth into existence as the site’s original “Frugal Man.” Prior to that, he spent more than 30 years covering the high finance world of college and professional sports for major publications, including the Associated Press, New York Times and Sports Illustrated. His interest in sports has waned some, but he is as passionate as ever about not reaching for his wallet. Bill can be reached at [email protected].

Bank and Saving Institute Sign

Banks, Credit Unions & Savings Institutions

By Bill Fay | April 23, 2012

American banks offer a smorgasbord of investment options. From commercial and savings banks to credit unions and trust companies, consumers have a dizzying array of choices for saving and borrowing…

the word "equity" spelled out with toy wooden blocks on table

Understanding Home Equity

By Bill Fay | April 16, 2012

Home equity is the difference between how much your home is worth and the outstanding balance of all liens on your property — how much you owe on your mortgage…

Credit Solution Strategies

Credit Solutions

By Bill Fay | April 16, 2012

Each one of these 3 credit solutions can be a viable solution for getting out of debt, depending on the circumstances you’re in and the resources you have available. Any…

Wooden model of home in front of womans hand browsing laptop with documents on desk

Using Real Estate to Take Control of Your Debt

By Bill Fay | April 16, 2012

If you have a load of unsecured debt, such as high credit card balances, your top priority should be to reduce it as much as possible, as soon as you…

Downsizing your home to help you save money

Downsizing Your Home to Reduce Debt

By Bill Fay | April 16, 2012

If you’re in over your head with credit cards and unsecured loans, a number of strategies can provide relief, such as a debt management plan or an aggressive debt-payoff strategy.…

The U.S. Capitol Building


By Bill Fay | April 10, 2012

Choose Your Debt Amount AVERAGE FEDERAL TAX RATE 0% TAXES COLLECTED BY FEDS IN 2011 $0 Trillion UNPAID TAXES OWED BY AMERICANS $0 Billion Filing Taxes No one enjoys filing…

Small model of elderly couple on calculator button that says "tax"

Tax Implications of Retirement Plans

By Bill Fay | April 9, 2012

If you take the advice of financial experts and start planning for retirement in your 20s, you can enter your golden years expecting a comfortable income. You may be able…

Retirement & Debt

By Bill Fay | April 9, 2012

  Choose Your Debt Amount Consolidate Debt in Minutes AMERICANS TURNING 65 EACH DAY 0 AMERICANS WHO SAVE FOR RETIREMENT 0% POPULATION 65+ LIVING IN POVERTY 0% Retirement Accounts Retirement…

Real Estate

By Bill Fay | April 9, 2012

  Choose Your Debt Amount Consolidate Debt in Minutes AMERICANS WHO OWN THEIR HOME 0% TOTAL MORTGAGE DEBT IN THE U.S. $0 Trillion FORECLOSURE FILINGS IN 2012 $0 Million Owning… logo with black text and colored flag


By Bill Fay | April 9, 2012

See what debt-free feels like is America’s Debt Help Organization, serving the public with thorough, accurate and accessible online information about personal finances. Call Now: (866) 612-9971 or Continue…

Retro clock next to stacked coins and jar filled with coins labeled retirement on table with depth effect

Retirement: How Much Should I Save Each Month?

By Bill Fay | April 9, 2012

Do you know how much money you should be saving each month for your retirement? Even if you are putting some money away, are you sure it’s enough? The long-held…

Young male student gazing into distance holding piggy-bank in front of university building

Credit Unions & Student Loans

By Bill Fay | April 3, 2012

Many students take out private loans to cover their college costs, but many lenders today have less credit to offer than in years past.  This has opened a business opportunity…

Two money bags and a paper model of house balancing on wooden scale

Credit Unions & Real Estate

By Bill Fay | April 3, 2012

Traditionally, banks have provided the bulk of American mortgages. Freddie Mac and Fannie Mae, two government-sponsored enterprises, may back these mortgages, but it’s been established lenders with a national reach…

Bankruptcy Law Books

Credit Protection Laws: The Consumer Credit Protection Act

By Bill Fay | March 27, 2012

Your consumer credit rights are protected in large part by the Consumer Credit Protection Act (CCPA), which became effective in the late 1960s. This act is made up of several…

Credit Scores

Credit Scoring Models

By Bill Fay | March 27, 2012

There are several models used to determine a credit score, so your score for an auto loan may be different from your score for mortgages or credit cards. What Is…

Businessman in work attire facing away from the camera looking at a wall of question marks and money bags

Debt FAQs

By Bill Fay | March 26, 2012

Your finances are an important part of your life and future. Financial responsibility and sound decision-making about your money now can save you money down the road and make it…

Young girl leaning on table looking over scattered coins and a jar of coins

What Age Should I Start Saving Money?

By Bill Fay | March 23, 2012

So what age is the right age to start saving money for your future? The practical answer is any age when you start to work and earn money for yourself,…

Happy smiling older couple sitting together on couch calculating coins in piggy-bank

How Much Do I Need to Save for Retirement?

By Bill Fay | March 23, 2012

While many people prioritize the need to save for retirement, they don’t always have an idea of their “magic number”— the amount of money needed for a successful transition from…

Divorce Decree

Divorce and Debt

By Bill Fay | March 16, 2012

You’ve probably seen video of a surfer shooting through a pipeline in a wave. It’s a precarious position, riding something that is out of human control. The object is to…

Chalkboard with guide on how to survive inflation

How to Survive Inflation

By Bill Fay | July 22, 2022

With a nod to Mark Twain, inflation has replaced the weather as the thing everyone talks about it, but nobody seems to do anything about it. Until now. Not that…

Employee resigning from his job

The Great Resignation: Why Is It Happening?

By Bill Fay | February 8, 2022

America has turned into a nation of quitters, though that’s not necessarily a bad thing. Spurred by the COVID pandemic, millions of people have joined “The Great Resignation” that’s happening…

Man handing refund of cash

How to Get a Refund on Your Student Loan Payments During COVID-19

By Bill Fay | May 3, 2021

The rules governing repayment of federal student loans contain so many nooks and crannies that it shouldn’t come as a surprise that you may have missed one created during the…

Envelope containing the third stimulus check

Third Stimulus Check

By Bill Fay | March 10, 2021

The average Joe – not Biden – figures to benefit most from passage of the $1.9 trillion American Rescue Plan. Approximately 145 million Americans will receive a third round of…

$15 minimum wage

$15 Minimum Wage Increase: Will It Happen?

By Bill Fay | February 10, 2021

Biden wants the minimum wage – currently set at $7.25 an hour – to jump to $15 an hour by 2025. The increases would be phased in at approximately $1.75…

Joe Biden announces American Rescue Plan

Details on the American Rescue Plan

By Bill Fay | January 14, 2021

President-elect Joe Biden unveiled the American Rescue Plan, a $1.9 trillion war on the prolonged suffering of Americans hardest hit by coronavirus. Included in his proposal: a fresh round of…

Image of newspaper titled Covid-19 Relief Bill with ribbon attached

Covid-19 Relief Bill

By Bill Fay | December 30, 2020

The second COVID-19 relief bill is now law – all 3,126 pages of it. The people in Congress who passed it admit they don’t know what all is in it,…

Second stimulus check on top of the first stimulus check

Second Stimulus Check Update

By Bill Fay | December 29, 2020

If you haven’t looked at your bank account this week, now might be a splendid time. The long wait for a second stimulus check from the U.S. government finally is…

Calendar with dart on second stimulus date

When Will a Second Stimulus Check be Delivered?

By Bill Fay | December 23, 2020

A second stimulus check – the financial gift from the U.S. government to help consumers recover from the economic belt coronavirus gave the American economy – needs only a signature…

Google search bar with phrase student loan benefit

Google Is the Latest Company to Offer Student Loan Repayment Benefits

By Bill Fay | November 3, 2020

If the biggest employee benefit you receive is when your company bothers to fill the toilet paper rolls in the employee bathroom, you might not want to read this: Google…

Woman deciding whether or not to pay down student loans during COVID-19

Paying Down Student Loans Before the COVID Suspension Is Lifted

By Bill Fay | October 28, 2020

If you are paying on a federal student loan, you probably already know that the government CARES Act has provided benefits that suspends payment and interest requirements through May 1,…

Campaign buttons for Trump and Biden

Trump vs. Biden: How Their Plans for Student Loan Debt Compare

By Bill Fay | October 16, 2020

Americans with student loan debt have a $1.6 trillion question on their minds: What would President Trump or a President Biden do about all that money these 45 million borrowers…

Gavel on table

Court Ruling Favors Student Loan Bankruptcy Discharge

By Bill Fay | October 2, 2020

There hasn’t been much good economic news in 2020, but if you’re buried in student loans, there was an astoundingly positive development recently. Thanks to a recent court ruling, you…

Woman applying for a new credit card on her computer

Should I Apply for a New Credit Card During COVID?

By Bill Fay | September 24, 2020

The COVID-19 pandemic has created record unemployment, erased profit margins, closed businesses and wreaked havoc on almost every family’s money outlook. It has even affected America’s ultimate get-out-of-jail financial symbol…

Sign for VA office

VA Extends COVID-19 Debt Relief to Veterans Through 2020

By Bill Fay | September 15, 2020

Veterans indebted to the Department of Veterans Affairs won a partial payment reprieve this summer that will last at least through the end of 2020. The VA action extends a…

For sale sign in front yard of house

Coronavirus and the Real Estate Market

By Bill Fay | August 14, 2020

Dorothy surely wasn’t thinking of life in a COVID-19 pandemic when she clicked those heels in the “Wizard of Oz” and opined that ‘there’s no place like home.’ But her…

Senator Mitch McConnell at a podium

Details on the HEALS Act

By Bill Fay | August 5, 2020

Congress and the White House are still debating whether the HEALS Act, HEROES Act – or some compromise Act in between – will deliver the next round of coronavirus relief…

Nancy Pelosi at a podium

Details on the HEROES Act

By Bill Fay | July 21, 2020

When the House of Representative passed the $3-trillion HEROES Act on May 15, it all but guaranteed that a second stimulus check would arrive for Americans in need of financial help…

Bankruptcy court with COVID-19 sign

COVID-19 Bankruptcies

By Bill Fay | July 16, 2020

The storm is coming. American consumers will be filing personal bankruptcies in record numbers by the end of 2020. That is the projection from bankruptcy attorneys, bankers and other experts…

Image of the stimulus COVID-19 relief check distributed by President Trump

Stimulus Checks for COVID-19 Relief

By Bill Fay | July 1, 2020

The phrase “stimulus check” is second only to “coronavirus” or “COVID-19” as something to talk about these days and people are definitely talking. About 159 million Americans have received the…