 From Credit Despair to Credit Millionaire
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Most people consider “achieving wealth” as a mystery. It
is thought that the management of money requires a
particular talent that most of us feel was left out of our
genetic make-up! We believe that it takes a certain type of
person; an expert in number-crunching, or someone who has
some special gift of financial insight to understand how to
tackle the money mission.
As
Savings Begin To Fall
As more and more people are becoming dependent on credit
cards and borrowing, saving accounts have not fallen back. The
Credit Union National Association (CUNA) collected statistics
that showed that from January to August of 2006, the rise was
1.8%. In comparison at the same time in 2005, savings rose to
2.5%.
CREDIT REPAIR: IS SELF HELP BEST FOR YOU?
You may have already seen the advertisements in newspapers, on TV, or on the Internet. You can hear them on the radio. Maybe you have received their fliers in the mail. Some of you may even get telephone calls from telemarketers offering their credit repair services. They all seem to make the same misleading claims:
Divorced And Deep In Debt, It's Not All Doom And Gloom
Almost half the letters I receive daily are from recent divorcees and for the most part their stories go something like this!
“In this world nothing can be said to be certain, except
death and taxes”
Benjamin Franklin
I, like many other good citizens from this great country of
ours, left it to the very last moment to mail off this
year’s tax return. As I entered the local post office and
saw the long line, I once again promised myself that next
year would be different. I really would make the effort to
get them off before the last minute rush.
Student loans!! Mortgage payments!! Credit card bills!! All
of these payments create anxiety and irritation but they are
all real. They are payments we keep in mind when we budget
for the month. Then suddenly, an emergency occurs, be it
small or large. Are you as prepared as you should be to
spend those extra dollars?
Behavioral economist Meir
Statman, recently said "getting out of debt is the
financial equivalent of trying to quit smoking."
Just like any bad habit, good intentions alone will not
be enough. To ensure success, we need to break our
underlying patterns of behavior. How is it we live in
the richest most powerful country in the world, but the
average American is more than $11,000 in debt. Our
European friends who live by a mainly debit card system
have an average savings of $13,000. On a recent visit to
Germany, I was shocked to find that less than 35% of all
the shops and restaurants accepted credit cards. What
would we need to do to reverse this trend and get into a
(plus) situation?
Identity Theft Hits Record Levels
In a country that prides itself on innovation and a citizen's right to privacy, why are we still living with the most
antiquated personal credit scoring system in the world?
You come home after a long
day at work only to find numerous unwanted bills in your
mailbox. As you sift though them, you start to get that
sinking feeling. You know there is no way you can afford
to pay all of them on time. It's at this time that you
remember that you have a vacation coming up and you want
to make the most of it. What you really need now is a
money makeover and this is how you do it.
What Really Happens When You File For Bankruptcy
Having a hard time paying your bills? Do they seem like they just keep
adding up? A lot of people in this situation think that filing for
bankruptcy is the easy way out.
What You Should Know About Those Debit Card Overdraft Fees
I know that there are times that I would rather use my credit card to make a purchase but my conscience tells me to use money that I have, not spend money that I don't have. For the most part I listen to my conscience. I have like most people experienced a few overdraft fees in my life time because of it. You would think that, just like a credit card if you don't have the funds, the card would be declined. All the banks use that card to their utmost advantage by letting you spend money that isn't there. They happily cover what you don't have and then charge you those large overdraft fees.
Let's Get Started, We Are Eager To Serve You!
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