|Debt Relief Information||
Let us create a 3d Digital eBook for you! DigyCat.com
Learn How to Get out of Debt
Debt is becoming number one problem in the United States Today. The average American family has at least $8,000 in credit card debt and most college students who just graduate from college have $3,000 to $5,000 credit card debt in their first year after college.
I love what the founder of the wisdom center Dr. Mike Murdock says about debt, he says that "Bad debt is a sign of lack of financial wisdom." If we don't know what to do with our money, we tend to spend it on something that will lose values in times. Robert Kiyosaki calls the things that will lose value "Doo Dads" Doo Dads can be a luxury car, a boat, jewelry, expensive clothes and so on.
Most people are never taught financial knowledge by their family or when they are in school. So as soon as they get out of school, they go crazy, because a lot of banks are offering them credit cards as soon as they finish their college education. They start buying things now and pay later. What they don't realize is that credit cards' interest is very high! It can be 18 to 29%. If you make late payment and go off allowed limit, the penalty period interest rate is extremely high!
It will take 20 years to pay off $1000 credit card debt if you only make the minimum payment every month. So be careful and watch out before you decide to buy something. Be careful of the words "Easy low monthly payment." They are very deceiving. When you get into debt, you will have to pay the interest if you can't make the payment in full.
Why the problem is getting worse? Most people rather spend their money on watching movies, eating out and buying clothes rather than buying books, tapes and videos that will teach them financial knowledge. They are not concern about their financial well being. Remember this, "What you don't respect, it will flee away from you." If you don't respect your financial life, you will find yourself deep down in poverty. Financial blessing will flee away from you if you don't respect it.
Most people who are deeply in debt do not want anybody to know that they are in debt. They are scared when their friends tell them that they have been spending too much. They get offended when someone tells them to get help or to buy books, tapes or go to a financial seminar that can give them financial knowledge and information, so they can learn to dig themselves out of their debt. They never consult and discuss their financial problem with a qualified financial planner or mentor.
What do I do now? Well delay of gratification is one of the solutions; don't buy it if you don't have the money to buy it! Wait, wait, and wait! I know it is very hard to fight on your emotion. You want the things you want today instead of tomorrow, but discipline yourself when it comes to buying.
It doesn't make any sense to buy a coffee table that cost $200 on credit and in 1 year you have to pay the bank $800 for the coffee table because of the interest that comes from the credit card. You can't even sell the table for $200 anymore! Be smart; use your mind before you buy, not your emotion, because our emotion can deceive us. Think, think and think, before you purchase something. Pay it cash if you really want it. Don't trade your future for today's gratification.
Get financial education! Get it now and don't delay it. You can always earn your money back, but you will never be able to earn your time back. The longer you delay the process of learning, the deeper you will get into debt and financial trouble. One of best financial education tool that is available today is "Choose to Be Rich Series" by Robert Kiyosaki. There 12 tapes or CDs and one video that talk about how to become financially literate.
It cost $150 to $200, but its well worth it. If some people are willing to pay $20,000/year to go to college, why can't they spend $200 on financial knowledge that will teach them to be smart financially for life! Don't be stingy to yourself when it comes improving your knowledge and education. If your gas tank for your car is worth $60 to refill it, your brain is worth more than $60.
Run a financial statement! You must know how deeply in debt you are! I love the depth indicator in every swimming pool. It tells me how deep the pool is, so I know what to expect. If you're not a good swimmer, you'd better stay in the pool that is not too deep, but as you become a better swimmer, you will be able to move to a deeper pool level.
Many people drown because they don't pay attention on the depth indicator in a swimming pool. It can be very fatal when someone doesn't know how deep the pool is. The same thing can happen if you don't know how deeply in debt you are.
You must know how deep your debt is! I am surprised that most people I talk to never look at their bank and credit card statements and they are not sure how much money they owed to the bank! When I ask them, how much do you owe the bank, they told me that they are not sure, or they are too scared to see their financial statement, but they are making their monthly payment and they don't even know the interest rate of their credit card!
Write it on a piece of paper, get the total balance you owed, so you know how to set a goal in paying off your debt. Remember this; you can't hit a target that doesn't exist! You must write it down on a piece of paper, or even a computer software programs like Microsoft Money or Quicken that will help you to keep track all of your expenses.
One thing that I found very useful is having a PDA (personal digital assistant) or Pocket PC to keep in track your expenses. A PDA or Pocket PC can help you balance your bank accounts, credit card accounts and manage your expenses.
Look everybody makes mistakes, it's human but we can't make the same mistakes over and over again! We have to learn from our mistakes and learn from them. The difference between the have and the have not is the amount of proper applied information that they have.
ฉ Copyright 2005 http://www.pebden.com, Author: Entjik Jeffrie, All Rights Reserved.
Debt Releif - Google News
This RSS feed URL is deprecated, please update. New URLs can be found in the footers at https://news.google.com/news
What You Should Know About Bankruptcy
Filing bankruptcy is not only a last resort legal action; it is also a very complicated legal action that definitely needs the expertise of a lawyer. When thinking about bankruptcy, you first need to decide if bankruptcy is right for you.
Personal Debt Reduction Practices
Personal debt reduction practices, the steps people take to relieve the debt in their lives and to become more financially free, are a hot topic among financial circles. American spending habits are producing more people who are deeper in debt rather than people trying to achieve financial freedom.
Are You Beating Up On Yourself About Debt?
When you hear the word "debt", whats the first thought or feeling that comes to you? For most people debt is "bad" or it becomes the "enemy" and is something that should be avoided like the plague.Having debt does not make you a bad person.
Is My Credit Card Debt A Problem?
For most Americans, credit card debt is a dangerous and growing problem. The average American family has more than $8000.
Bankruptcy: What the New Law Means to You
On April 20 of this year, President Bush signed a bankruptcy reform law. When this law goes into effect in October of this year, it will be much more difficult for Americans to use Chapter 7 bankruptcy to get a fresh start on their financial lives.
Debt Help and Advice for the UK
At some time or another during our lives most of us will overspend and get into debt. Sometimes we can get our finances back on an even keel by cutting down on a few luxuries.
What is Bankruptcy?
Personal bankruptcy is a legal way to give people with overwhelming debt a fresh financial start. However, it is important to realize that certain forms of debt, such as student loans, are not forgiven through the bankruptcy process.
Yes to Less Debt
Feeling stressed by the amount of debts you have? Threeyears ago Michelle was struggling on a nurse's salary. Shehad run up huge debts with a number of courtjudgments against her name.
Slowing Spending - The Key To Your Debt Plans Success
Anyone who embarks on a debt reduction program should know the rules for success. There aretwo.
Fast Track Out of Debt
You go to the mail box and scan - a couple fliers (nah), your magazine subscription (yes!) and bills (groan). Every month the bills show up and as you sigh and take out your check book you wonder if you will ever be free.
The Effects of Consumer Debt
Consumer BorrowingConsumer borrowing in the UK has now crashed through the ฃ1 trillion barrier. 80% of this is due to credit card borrowing, loans and mortgages.
New Bankruptcy Law Makes it Harder to Stop Foreclosure
On October 17, 2005 President Bush's sweeping bankruptcy reform law goes into effect forever changing the rules of debt collection in this natiion. Consumer advocates and the public appear to be completely unaware of the total and complete victory of the creditors under the new legislation.
Debt is The Master of Souls
Wholeness requires separation. In order for you to experience yourself as being whole, you spend most of your live experiencing being separated, trying to get back to wholeness.
Bankruptcy Interest Increases as Deadline Approaches
Congress recently passed sweeping legislation that will significantly reform American bankruptcy law. Designed to eliminate the "convenience bankruptcy" of compulsive gamblers and the financially irresponsible, this legislation will make it more difficult for those seeking bankruptcy protection from the courts to have their debts relieved.
Eliminating Credit Card Debt
The overwhelming task of eliminating your debts can often seem like an uphill battle. Without the knowledge and expertise of a professional on your side, unfortunately, the odds are not in your favor.
The Five Most Popular Questions About Bankruptcy
WILL MY CREDITORS STOP HARASSING ME?Yes, they will! By law, all actions against a debtor must ceaseonce bankruptcy documents are filed. Creditors cannot initiateor continue any lawsuits, wage garnishees, or even telephone callsdemanding payments.
The 5 Secrets to Getting Out of Debt Fast
As they stare down at a teetering pile of bills, so many consumers wonder how they racked up such a large debt. The answer boils down to simple mathematics.
Bankruptcy - Bankruptcy Myths
Bankruptcy has long been a big question mark in the eyes of the consumer. After all they don't teach us about bankruptcy in school.
Whatever You Do....Dont Save Money!
No, that's not a misprint. Even though falling interest rates are good when you want to get a loan, they are bad for people with savings accounts.
Currency Trading Fee Concept
Troubles with Global Economy; Do you see future problems with our global economic plans to make a one world system, where free trade and prosperity can rein the world over. Many world leaders have agreed a one-world system is best for all.
PrimeNews Domain Is For Sale - $5,000 For Enquiries eMail Us
© www.PrimeNews.biz - 2012