Wednesday, March 14, 2007

National Survey

According to a national survey 49% of adults and 66% of students go F's on a test of their knowledge of basic economic principles.

Thursday, March 8, 2007

Benjamin Franklin Said:

Think what you do when you run in Debt; You give to another power over your liberty!

Friday, February 23, 2007

Smart Consolidation Moves

Home Equity Loan
If you own a home, and have equity in it, a home equity loan can be a smart move. These types of loans usually carry low interest rates and the interest is tax-deductible. Sometimes there are fees involved, so shop around for the best deal (and lowest interest).

Get a Personal Loan
If you have not trashed your credit rating yet, this is an option for you. Check with your credit union or bank to see what terms they can offer on an unsecured loan. If the interest rate is lower than your credit cards, you will be ahead.

Refinance Your Car
Borrowing against your car is an option if your have equity in it. If you do have equity in your car be careful not to borrow more than you can pay back before your car dies.

Cut Up Your Credit Cards
I can't say it enough time; CUT UP YOUR CREDIT CARDS!! They are not your friends!!

Friday, December 15, 2006

Commercial Debt Reduction Companies

Don’t stress it – commercial debt reduction companies are proven authorities in debt negotiation to reduce your commercial debt in the best way possible for you, especially when you’re least interested in the worst alternatives like Chapter 11.

The best debt negotiation companies are there for your small business or medium-sized company - the size of the companies involved is never an issue to these debt negotiation professionals. The heart of the matter is debt reduction to take your commercial debt through rough patches including recession that creates those limited dry spells in your cash flow.

Debt Negotiation Will Reduce Your Debt And Save Thousands Off Your Commercial Debt!

You know what’s best for your business or companies – and debt reduction companies know best how to get your business back on track. Companies across the country have chosen a debt reduction program to effectively structure their commercial debt.

Your debts can seem like an insurmountable obligation – and the most frustrating thing with commercial debt is that as hard as you work to succeed, your supplier companies demanding payment – or even larger factors like a bad economy - create bad credit issues that can be completely out of your control.

You know you offer one of the best products or services in the marketplace, and all you need to do is reduce your commercial debt, re-establish your credit rating and get your business back on track.

Debt reduction companies understand your hard work and best efforts, so you can depend on qualified counselors, CPA and legal pros in debt negotiation and debt reduction to put your debts on the firing block.

Wednesday, December 13, 2006

Hiring a Debt Consolidation Firm, Is It A Good Deal?

Do you feel like you’re stuck in an inflatable raft surging down the Grand Canyon of debt? Is your raft springing more leaks than you can plug with your ten fingers? Every month are you robbing one credit card to pay another? Have you taken out a second mortgage to pay for holiday gifts? Then maybe debt consolidation is for you, or is it?

Before you jump overboard and grab one of those tempting pieces of junk mail that promise to “cut your monthly payments in half”, there are a few things you should consider.

1. In this millennium, low-interest balance transfer credit cards are everywhere. Beware of cards that have rates that only last a few months and then swoop down with high interest rates. Another downside to switching cards every few months is that eventually the activity will show up on your credit report and mark you as a bad risk. If you are floating Peter to pay Pauline, make sure that you call the card companies and have them mark the account “closed at the customer’s request.”

2. Beware of Debt Consolidators who promise to take care of all your debt by putting all your bills in one tidy little bundle. Many Debt Consolidators are “friendly” with creditors and some times receive as much as a 15% rebate from creditors for consolidating your bills, which they in turn are charging you. Is it worth paying someone else a fee to negotiate a lower interest rate? Can you not call up your creditor and make your own arrangements? Most creditors are willing to work with you by reducing the interest or lowering your payments.

So, what are you going to do? What are your options? Here are a few suggestions for getting out of debt and staying out of debt:

1. Throw away the credit cards! Or at least keep the cards at home is a locked drawer. If you don’t have the plastic on you, you will have to think twice about the purchase. Maybe by the time you run home to get the card, common sense will have prevailed regarding the purchase your were so adamant about making an hour ago.

2. Write down everything you spend money on. Know what your expenses are including what you spend on birthday gifts, socks, banking fees, insurance (car, house, kids, life, disability), subscriptions, Ti Kwan Do classes, snacks at Burger King, (you get the picture!) Keep a daily journal of everything you buy.

3. Brown bag it for lunch, car pool, buy store brands, get rid of cable,

4. Bottom line, make a budget, stick to it, live within your means!