June 4, 2009
- New Credit Card Legislation Expected To Have "Dramatic Effect"
The CFO of Capital One Financial Corp. was recently quoted as saying, that "new credit card legislation is expected to have a dramatic impact on the national lending landscape."
Sweeping changes meant to protect debt-ridden consumers from surprise credit card fees and charges could cause quite a few unintended changes to other credit card holders. As we mentioned yesterday, some of these changes could include reintroducing annual fees, increasing other fees, and reducing or eliminating popular cash-back or rewards programs.
Nearly 80 million Americans have credit cards and over 1/2 of those carry a balance, so these changes will certainly impact a great many households.
Really, the only way to avoid being caught in this financial game of cat and mouse is to pay off your credit card debt as quickly as possible. That way you're beholden to no one and you're not subject to any fees, questionable rate changes, or other games credit card companies play.
To learn more about the Money Merge Account® system, which is a tool created to help every single person with any kind of debt to pay off their debt as quickly as possible, simply visit The Money Merge Account link above.
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June 3, 2009
- Credit Card Companis Take Aim at Low Risk Borrowers
While credit cards have long been a good deal for people who pay their bills on time and in full, it seems as if those times might be in jeopardy.
You see, while credit card companies imposed punishing fees and penalties for those that are late with their credit card payments, they offered their disciplined, 'pay on time' customers cash-back rewards, frequent-flier miles and other perks to reward their fiscal responsiblity.
However, with Congress taking steps to limit the penalties on riskier borrowers, a source of billions of dollars in fee revenue for the credit card industry, and in an effort to make up for lost the lost income source, it appears as if the credit card companies might being going after those people with sterling credit.
Many banks are expected to look at reviving annual fees, plus curtailing their cash-back and other rewards programs, as well as charging interest immediately on a purchase instead of allowing a grace period of weeks, according to bank officials and trade groups.
If all of this is true, it truly is a sad, sad statement about our economy and the impact debt has on our society!
The only realy answer is to begin now to eliminate your credit card debt AS QUICKLY AS POSSIBLE. If banks do begin removing grace periods and rewards programs, the benefit of credit cards is quickly lost.
Although that may not be a bad things as more people will be forced to do what our grandparents did…pay for things when they actually have the money in hand!
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May 11, 2009
- Neck Deep In Debt?
If you or someone you know is struggling with too much debt and they're at the point where they don't know what to do, here are some suggestions to help them find a little peace as they fight to get out of the financial mess they find themselves in:
Set up a realistic budget. It's common sense, but unfortunately many people overlook the simple fact that unless you're bringing in more money than you're spending each month, you'll NEVER get out of debt. If this is a problem, the only way to truly get a grip on it is to set up a realistic budget and then stick with it. If possible, you should allow a little room for an occassional treat, but if you're in serious trouble, try to stretch the reward periods out as long as possible in order to maximize your ability to get back to where you need to be financially.
Contact your creditors. Even though you may think they're only out to get you, in most cases your creditors do better when you're debts. Yes, they may try to collect past due amounts or may threaten all sorts of scary 'things', but in reality they want you to be in debt to them so they're going to be willing to work with you. Unless you want your personal credit to be seriously blemished for many years to come, it really is in your best interest to figure out a way to pay back your creditors and in many cases, the only way to make that happen is to work with them.
Manage your secured assets. Debts like a mortgage or car loan are considered 'secured' because the debt is secured by the asset the loan was taken out to purchase. If you get behind on your car payments, your lender could reposes your car with little notice to you. For your mortgage, you typically have to be 90 days behind before the serious stuff starts happening, but whenever possible you don't ever want to let it get that bad. Again, contact your lenders and let them know what's going on because they're better off if you make good on your loan agreements.While being in financial hot water is never a fun experience, it's something that can be avoided with some careful planning and a little financial discipline. Having a plan in place for getting out of debt as quickly as possible is smart for everyone because when you don't have any debt, secured or unsecured, your money is freed up to work for you in other ways.
If you haven't yet taken a close look at the Money Merge Account® system from United First Financial®, you owe it to your financial future to give it a look. You could be completely debt free in as little as 1/2 to 1/3 the time you're probably expecting it to take now and that's without ANY additional income because the system works with just the money you already have.
We also offer a free 'how fast can I pay off my debt' analysis to help you see the exact month and year when you could be completely debt free. Contact Us today to learn more.
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May 6, 2009
- Credit Card Debt Is a HUGE Obstacle To Financial Freedom
According to the US Treasury, nearly 80% of American familes have at least one credit card, 44% carry a balance on their credit cards, and as a whole Americans pay close to $15Billion in penalties and fees on their credit cards.
Brad Chaffee of Charlottesville, VA says, "Credit card debt is our biggest hindrance in being able to take care of our families and set ourselves up for prosperity.
If your paycheck is going toward paying all these credit card companies off, you can't get very far," added Chaffee, who has a Web site called enemyofdebt.com. "You certainly can't use your income as a wealth-building tool — which is what it becomes when you don't have all these debt payments. I feel very strongly about that."
This is the whole idea of the Money Merge Account® program. When you pay off your credit cards and other costly debts it frees you up to be able to use your money to build wealth instead of building wealth for the banks and credit card companies.
Many people have been caught in the credit card debt trap because it's so easy to fall into. With low introductory rates and easy access to money, too many families have gotten buried under the weight of their growing debt balances.
It's time to put a stop to it though! If you haven't already looked into the Money Merge Account program, we invite you to visit www.PowerfulDebtPayoffSystem.com to get a first hand look at how this powerful money management tool can help you pay off your debt in record time.
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April 16, 2009
- Pay Off Debt, Cut Expenses, and Have Fun Doing It
We called on Mike Irons to share his thoughts on how to cut expenses, pay off debt fast, and having fun doing it:
Deciding to get out of debt does not mean that you have to sentence yourself to a bland lifestyle. You will need to make some changes, you will have to learn how to cut expenses, but you can have fun doing it.
Anyway, if you're miserable because you've pared your living down to the bone and have no (affordable) luxuries you'll probably quit your savings plan and end up back in the same mess.
Here are some ways to cut expenses and still enjoy life:
If you have kids, why not split the cost of a babysitter with your neighbors or friends when you go out?
Do you go out to a neighborhood club? Why not eat before you go out? And find out when your favorite places are running specials.
Use your computer to save money. There are plenty of online websites that offer coupons every day of the week.
Still going to Starbucks? How about drinking coffee instead of lattes? They're about one half the price. And get a small coffee or tea instead of a grande.
Instead of driving, try walking or riding a bike. You'll get exercise and save money on gas.
If you've been paying your credit cards on time get in touch with your credit card companies and ask them to lower your interest rates. You've got nothing to lose and many dollars to gain.
Take out exercise DVDs from your library and exercise at home in front of your television set instead of working out at the gym.You can find more creative ways to cut expenses and have fun while you're at it, at http://www.FindReliefFromDebt.com
Of course nothing if you want a financial tool that can show you EXACTLY how long it will take to pay off your debt WITHOUT having to make drastic changes to your lifestyle, make additional payments, or cut down on the 'fun', then you owe it to yourself and your family to learn more about the Money Merge Account® program from United First Financial®.
This powerful 'pay off debt fast' program has already helped thousands of homeowners pay off millions of dollars of equity and save even more interest. Just think, that's millions of dollars worth of interest payments they'll NEVER HAVE TO MAKE! Isn't that exciting?
To learn more about the Money Merge Account system, add your comment below, or contact us to schedule your free 'how fast can I pay off my debt' analysis.
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April 15, 2009
- Average Credit Card Debt Rises for College Age Adults
A study released on Monday by Sallie Mae, a college-financing company, reports that the average amount of credit card debt has risen for those young adults of college age.
"[The study] finds that the average undergraduate carried $3,173 in credit card debt last year, the highest level since Sallie Mae began collecting this data in 1998. In 2004, the last time the study was done, students carried an average of $2,169 in card debt.
The higher the grade level, the greater the card debt, according to Sallie Mae. In 2008, college seniors with at least one credit card graduated with an average of $4,138 in card debt, up 44% from 2004. By comparison, freshmen's average credit card debt jumped 27% to $2,038."
Once again this is a demonstration of how dependent our society is on debt and unfortunately, it doesn't appear to be getting any better.
It's important for each one of us to seize control of our financial situations, and this means eliminating debt as quickly as possible. Given the topsy-turvey state of the US economy, it's never been more important to have financial flexibility.
The Money Merge Account® truly is a revolutionary tool for helping people, young and old, pay off their debt in record time. And as these young people leave college with rising amounts of credit card debt, it's our hope that they encounter a United First Financial® representative that can show them the power of this 'pay off debt fast' system.0
April 8, 2009
- Doesn't the Money Merge Account System Achieve the Same Thing As Making Extra Principle Payments to My Mortgage?
Simply put, the mathematics behind the Money Merge Account® system present a sophisticated process that has a substantial financial benefit over increasing your monthly payments. The algorithms in the proprietary Money Merge Account system are systematically programmed to create the highest interest savings possible in the least amount of time.
The math engines programmed in the Money Merge Account system calculate the specific timing and dollar amounts required to produce the most optimum savings on each individual mortgage and overall financial situation.
Plus, making extra principle payments to your mortgage won't do anything to help reduce the amounts you owe for your other debts like car debt, student loan debt, business loans, etc.
In short, the Money Merge Account program takes into account ALL your debts and it calculates the absolute quickest path to paying it ALL off, your mortgage included.
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March 24, 2009
- Will The Money Merge Account Help Me Reduce My Monthly Payments?
The Money Merge Account® is much more than just an accelerated mortgage payment option. Other debts (e.g. credit card balances, personal loans, overdrafts etc.) can be transferred to the Money Merge Account - which means you benefit from paying less interest on all your debts instead of expensive, unsecured rates. The reduction on your minimum monthly payments can be significant.
And if you're concerned about rolling all your debts into one big balance, don't be. You'll be able to break your debts into individual repayment plans. So you can have a plan for your mortgage, a plan for your credit card balance, and a plan for your loan. We'll help you budget to pay off what you want when you want, and you'll be able to see each element of your debt falling month-by-month in line with your plans.
Be sure to request your personalized 'How Fast Can I Pay Off My Debt' Analysis.
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March 9, 2009
- Planning A Budget To Help Pay Off Debt Faster
When trying to create a budget to help pay off debt as quickly as possible, one of the BIGGEST mistakes you can make is only including the bare essentials. You know, things like your mortgage payment, car payments, utilities, telephone, groceries, and other basic necessities we need to live.
The problem is, you'll never be able to stick to a budget like that forever anymore than you could stick to a diet of Wonder bread and water. As a result, it's important to budget in a few luxury items, even if you don't think you can afford them.
Now I'm not talking about eating out at your favorite restaurant every week, but budgeting in a little money for the occassional luxury item will certainly help you stay on track with your budget. Otherwise, you may get completely overwhelmend and frustrated and not stick to it at all.
One way you can squeeze even more of these 'luxury' items into your budget is to find some lower cost alternatives that will still provide the opportunity to enjoy these luxuries, but you'll be enjoying them at a lower cost, allowing you to squeeze more of these actitivities into your monthly budget.
Start by making a list of luxury items or activities you normally spend money on. And be honest with yourself. Leavging something off the list just to make it "look good" isn't doing anyone any favors.
Some of these luxuries might include eating out, the movie theater, the beauty salon, birthday or other occassion gifts, lunch with co-workers, a gym membership, or cable tv. In reality, any item or activity NOT on your budget as absolutely necessary could qualify for this list.
Once you have this list, brainstorm some low cost alternatives that might be able to take the place of some of the more expensive luxuries. For example, instead of going to the regular movie theater, check around to see if there's a $1 theater in your area. If not, instead of actually going to the theater consider renting movies and watching them at home, saving you money on both the ticket price and the outrageous cost of the typical movie theater snacks.
Another example might be instead of spending money each month on a gym membership, find a program that allows you to work out at home. A quick search online will reveal literally THOUSANDS of such programs that teach you how to work up a good sweat from the comfort of your own home. And many of them require only a comfortable pair of sneakers and a little space in your home or apartment.
So as you continue your quest to pay off debt as quickly as possible, keep these budgeting tips in mind to help stretch your dollars are far as possible.
Of course when you can divert more of your money to paying off debt it'll help pay if off much quicker, but with the Money Merge Account® program, you don't have to scrimp and save. By simply applying the very same principles banks have been using for years to make money off your debt, you become the bank, using your money as strategically as possible, allowing you cancel years of interest and save yourself thousands in interest.
To learn more about this powerful program visit www.PowerfulDebtPayOffSystem.com.
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March 4, 2009
- Novel Idea For Getting Out of Debt
While this advice is nothing new, it certainly puts an entertaining spin on things.
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March 3, 2009
- Reducing Or Consolidating Other Debts Using the Money Merge Account System
The Money Merge Account® is much more than just an accelerated mortgage payment option. Other debts (e.g. credit card balances, personal loans, overdrafts etc.) can be transferred to the Money Merge Account - which means you benefit from paying less interest on all your debts instead of expensive, unsecured rates. The reduction on your minimum monthly payments can be significant.
And if you're concerned about rolling all your debts into one big balance, don't be. You'll be able to break your debts into individual repayment plans. So you can have a plan for your mortgage, a plan for your credit card balance, and a plan for your loan. We'll help you budget to pay off what you want when you want, and you'll be able to see each element of your debt falling month-by-month in line with your plans.
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February 23, 2009
- 10 MUST HAVE Criteria for Any 'Pay Off Debt Fast' System
With so many different options and people promoting different products and services to help you pay off your debt as quickly as possible, it can be just a tad confusing trying to figure out which one is best.
So, we got together with a group of experts, friends, and other people we know of that have either struggled to get out of debt, are still working on getting out of debt, or their primary occupation is helping people get out of debt and we came up with a list of 10 different criteria ANY program, tool, or system should have.
If the program you’re considering is missing EVEN ONE of these elements, chances are it’s probably not going to be as effective as it could be, or help you get out of debt as quickly as possible.
1. No need to refinance your existing mortgage
To be truly effective at helping you eliminate your debt you shouldn’t have to completely restructure your current financial situation. Yes, it may be helpful to refinance your existing mortgage if you can get a better rate and the upfront money doesn’t throw a wrench into things, but it shouldn’t be a requirement to make the program work.
And if you do decide you want to refinance, you should definitely speak with a qualified financial advisor.
2. No extra income required
Now this is another one that may not make sense to some people. Yes, with a little extra income each month you should be able to pay off your debt faster, but again, it shouldn’t be a requirement.
You see, unless you’re upside down on your finances each month, there should be a way to eliminate your debt without having to resort to a second job, hawking family valuables on Ebay, or doing anything else to generate extra income.
The money you’re currently making now SHOULD BE sufficient, again assuming you’re not underwater each month.
3. Little to no change in your current lifestyle
This one’s a big one. You see, most ‘get out of debt’ programs require you to make dramatic changes to your lifestyle. They expect you to cut off the cable, stop eating out, stop buying new clothes, and basically becoming a financial miser.
Now, would doing all of these things help? ABSOLUTELY!!
However, they shouldn’t be a requirement to make the program work, otherwise you’ll get frustrated and most likely never actually use the program to its fullest potential.
4. Super-simple to use
This is another big one. Many get out of debt systems out there require you to do some pretty rigorous calculations and math on a consistent or on-going basis. Are you serious?
Who in their right mind wants to spend hours each month adjusting and recalculating just to make the system work?
I for one don’t and wouldn’t expect anyone else to. For any system to be truly effective it MUST be super-simple to use meaning you may have to go through a setup phase once, but after that it should just work. Plain and simple.
5. Help you analyze future purchases/consequences
Now this one isn’t so much a requirement as it is a ‘nice to have’. However, if you can find a system that can help you get out debt as quickly as possible PLUS show you the consequences of future purchases and what it would do to your financial situation, what a bonus!
Remember, any system you use should help you become more informed and educated as it relates to your finances and the ability to evaluate future purchases could be a HUGE help as you work to build real long-term wealth.
6. Available 24/7 - not a static solution
This is another problem with many of the ‘get out of debt’ programs out there today. It involves some static spreadsheets, or paper printouts that have to be updated manually by you. Seriously now, do you really want to have to go through this every time you want to see your status?
With the technology we have available today you should look for a program that is a DYNAMIC solution that automatically takes into account any extra income you might come across, changes in your job situation, a decrease in interest rates, etc.
There’s absolutely no reason at all you should have to fiddle with anything to take these factors into account!
7. Low cost – relative
Listen, if you’re trying to get out of debt, doesn’t it make sense you’re trying to limit your expenses? Of course you are!
But price is definitely NOT the only thing you should look at. You’ve got to look at the relative cost of any potential solution. In other words, not just how much is the sticker price, but also how much could it potentially help you save?
In other words, you can’t just look at the stick price you’d pay today for something. You’d got to look at the cost, plus any potential savings to determine if it’s a good investment.
For example, let’s say you found a program that has a price tag of $97-297 but you know you’ll never use it because it too hard to figure out, or it’s not easy to maintain, or any other host of reasons. I’d say it’s probably not worth the cost because it’s not really going to help you.
On the other hand, if you found a system that cost you $99K but it could save you over $100K in interest and you KNOW it would because it’s easy to use and maintain then I’d say it’s a GREAT investment because even though it costs a lot it saves you more in the long run.
Make sense?
8. Lifetime solution
If you’re going to invest your money in a system to help you get out of debt, then it’s got to be something that will last you a lifetime. It can’t simply be a one-time affair that only works for a short period of time. It needs to be something that you can set up right now, and feel confident it will still be helping you for the next 20 years if necessary!
9. Has been proven to work
This one simply goes back to the ol’ credibility thing. It’s the pioneers that come back with arrows in their backs, so be sure you feel confident that whatever system you’re investigating has already worked for others. And not just a handful of folks. It should be hundreds, if not thousands of people!
Don’t be afraid to do some research on your own and at the very least ask to see some testimonials from people that have used the system.
One word of caution here though. As you’re researching ANY program you’re most likely going to encounter some negative comments. This is pretty typical with anything successful, so be careful not to look at just the negative comments.
10. Doesn't trash your credit
Finally, any system you use to pay off your debt should only help your credit. If the program you’re looking at threatens to hurt your credit in anyway, run the other way as fast as you can!
Remember, we’re trying to eliminate debt so we can better our financial situation. Anything that goes contrary to that should be avoided like the plague.
Okay, so those are the 10 criteria you should keep in mind as you search for the right tool to help you pay off your debt as quickly as possible. While this isn’t an all-encompassing list, it is a pretty thorough list that should help you make a decision you can feel good about.
Now, as these relate to the Money Merge Account® system, it passes all 10 of these criteria with flying colors! In fact, in all of our research and investigation we haven’t been able to find another program that even comes close to meeting all 10 criteria.
Remember, we offer a FREE ‘How Fast Can I Be Out of Debt’ Analysis to help you see for yourself exactly what the Money Merge Account system could do for you.
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February 17, 2009
- Pay Off Debt - There Are Many Options Available
As we hear more and more about the struggle our economy is facing and the potential for things to get even worse, it should be a signal to everyone that RIGHT NOW is the time to get out of debt.
Actually, we should've either started the process several years ago while times were good, or not even gotten ourselves into debt in the first place, but it doesn't do any good to lament about it now!
Anyway, as we each individually begin the difficult process of figuring out how best to pay off our debt, it helps to know what our options are. And there is no shortage of 'experts' touting their solution as the answer to everyone's problems.
The problem with that is that there's really no 'one size fits all' solution. It's CRITICAL that you weight the pro's and con's of each potential solution, consult with experts if necessary,and ulimately make the decision based on what's really right for you and NOT what some TV commercial or other advertisement is telling you what you should do.
Now, for those that are serious about getting out of debt for good, these are some of the options available:
Remain status-quo and continue making payments against your debt as laid out by your lenders or credit card companies. While this options will eventually get you out of debt it's a well known fact that you'll end up paying multiple times the amount of money you owe because of the interest charges. ESPECIALLY if all you're doing is making the minimum payments.
Debt consolidation - entails taking out one loan to pay off many other loans. Can make paying off your debt easier because everything's consolidated into one monthly payment with hopefully a lower interest rate, but there's no guarantees.
Debt settlement - the process of negotiating with creditors to pay off part of a balance on debts. Could be a good solution for people that are seriously underwater each month on their debts.Unfortunately, in most cases this can do serious harm to your credit as the first step for money of these programs is to have you stop making payments on your debt. If you want to pay off your debt quickly, without cheating your lender (a personal viewpoint) or harming your credit, this probably isn't the way to go.
Consumer Credit Counseling - offers consumers education on how to avoid incurring debts that can't be repaid. The process often involves negotiating with a person's creditors to establish a debt management plan with reduced payments and interest rates.
Debt Snowball - this method is touted by many well known financial experts as the 'best way' to pay off all your debt quickly. Essentially you make a list of all your debts, complete with all the payment terms, interest rates, etc., and then you arrange them from highest interest rate to lowest. You then begin attacking the highest interest rate debt first, then once that's paid off, you take the money you were using to pay off the first debt and apply it to the second debt until it's completely paid off.While this can be a good solution, it doesn't always take full advantage of EVERY available asset you have. Plus, many of these programs amount to nothing more than a static spreadsheet. Again, it can certainly be effective at helping you pay off your debt quickly, but it's definitely not the easiest way to go about it.
The Money Merge Account® system - an Internet based software program that takes into account all your debt as well as all your available credit, income, and other financial 'tools' that could be used to help you eliminate your debt quickly. It then plugs everything into some complex financial calculations and using factorial math (taking EVERYTHING into account) it creates a step-by-step road map for eliminating your debt as quickly as possible.Again, these certainly aren't the only options available, but these are some of the most popular. Before you begin ANY program to pay off your debt fast, you'll definitely want to do your own research to determine what's best for you.
If you'd like to learn more about the Money Merge Account system from United First Financial® we invite you to request your FREE analysis that will tell you exactly how long it will take you to eliminate all of your debt, mortgage included, without making drastic changes to your current lifestyle.
Visit 'Get Out of Debt' today to request your FREE analysis!
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February 7, 2009
- Credit Card Companies Can Make Up Their Own Rules
According to a PBS Frontline report, there is no limit on the amount a credit card company can charge a cardholder for being even an hour late with a payment.
"In 1996, the U.S. Supreme Court in Smiley vs. Citibank lifted the existing restrictions on late penalty fees. Back then, fees ran to $5 or $10, and usually did not exceed $15. After the Court's decision, fees soared, reaching upwards of $30. Since then, the amount of revenue the companies generate from fees (including late charges, over-the-limit fees, and charges for returned checks) has doubled. Duncan MacDonald, one of the lawyers who worked on the Smiley case, predicts penalty fees could rise to $50 in another year"
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January 19, 2009
- Banks Willing To Forgive Consumer Debt, But Not Forget
While many forecasts expect the current financial downturn to only get worse in coming months, many banks appear willing to take a little as 70% of the amount of debt owed in effort to get "whatever they can". But before you rush off to call your bank to tell them you're only paying 70% of the debt you owe, remember, they're not doing it for you. They're doing it for themselves and they're going to make you pay one way or another.
Even though you might be able to eliminate 70% of the credit card debt you owe, banks will do everything they can to ensure your credit report reflects this 'debt settlement'. So if you're staring at a mountain of consumer debt and don't know how you're going to get caught up, you might want to carefully consider approaching your bank about a debt settlement.
Remember, this should NOT be construed as financial guidance or advice. You need to consult with a liscensed professional regarding all financial matters, but just know there are options available. Unfortunately, there are consequences as well that none of us has control over.
If you're like to eliminate your debt using a powerful system that won't impact your credit rating, will have very little to no impact on your lifestyle, and can help you get rid of ALL your debt in as little as 1/2 to 1/3 the time, then we invite you to check out the Money Merge Account® program from United First Financial®.
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January 14, 2009
- Consumer Debt Levels Drop For First Time in 50 Years
When the Federal Reserve released it's third-quarter analysis of consumer and business spending on December 10, we found that U.S. consumer household debt had dropped by 0.8% or a measely $117.4 billion. Basically, that means we're still stuck with close to $13.9 TRILLION in consumer household debt.
Can you believe that? $13.9 TRILLION of consumer debt we've obligated ourselves to pay?
Unfortunately, it's not just our government that's over-extended itself. Us as consumers have followed right along with them and have stuck ourselves out on a very precarious cliff.
According to the report the leading factor in the drop, which was actually THE FIRST since the Fed began tracking consumer spending habits more than 50 years ago, was home mortgage debt. That debt fell by an annual rate of 2.4 percent in the quarter. ,which continues a two-year trend of declining growth rates in home mortgages.
According to Drury University economics professor Bill Rohlf Jr., "You've got people who are panicking, (they) realize that there's a recession coming, and they're trying to get a handle on their financial situation," he said. "Rather than expanding their debt position, they're trying to retrench and pull back so they're better able to handle themselves if the recession is an extended one."
Well, it's about time! After extending ourselves for so long it's refreshing to see people realizing they need to get a handle on this out of control debt situation.
If you're still trying to find a way to get a handle on your own debts, we strongly encourage you to take a serious look at the Money Merge Account® system. It's a powerful tool that can help you eliminate ALL your debt, saving you thousands, potentially HUNDREDS OF THOUSANDS of dollars in interest payments, WITHOUT making any change to your lifestyle.
Obviously a tool like this isn't for everyone, but if you'd like to learn more definitely go to 'Get Out Of Debt' and request your FREE analysis to see exactly how quickly the Money Merge Account system could help you eliminate your debts.
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December 17, 2008
- Help Fight Fraud
Here's a pretty funny little cartoon I ran across:
This cartoon comes courtesy of Steve Rhode of GetOutofDebt.org.
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December 16, 2008
- 9 Steps to Getting Out of Debt
If you find yourself buried in debt and you're not sure which way to turn, here are 9 steps for paying off your debt based on Suze Orman's book, 'The 9 Steps to Financial Freedom':
If you're in credit card trouble, cut up all your cards except for one which you should keep ONLY for emergencies.
Pay AT LEAST the minimum each month, if not more.
Pay off the card with the highest interest rate first.
Negotiate the best interest rate possible, even if that means switching cards every 6 months.
Understand how EVERYTHING about your card works - all fees, penalties, interest, etc.
Honor ALL debts equally, and pay it all off - whether it's your VISA or money you owe a family member.
After you've paid off one debt, apply the money that was going to that account to the next debt to be paid off.
If you're not sure if you can manage it all yourself, consider contacting a credit counseling agency. Better yet, if you're at least breaking even on a monthly basis, consider getting on the Money Merge Account with United First Financial. This program will help you pay off your debt in 1/2 to 1/3 the time WITHOUT any extra income.
Once you get out of debt, STAY OUT OF DEBT!Now, there are lots of theories, ideas, and programs out there for how you can get out out of debt so be sure to review your options thoroughly and select the one you feel best meets your needs.
There's absolutely no feeling in the world like the freedom that comes from being 100% debt free!
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December 15, 2008
- Getting Out of Debt Is Easy To Do, But…
This is a saying from a good friend of mine, Michael York, although I think he borrowed it from the venerable Earl Nightengale. He says, "it's easy to do, but it's easier NOT to do it."
While this statement applies to a great many things in life, it most DEFINITELY applies to getting out of debt. There's a myriad of reasons you find yourself currently in debt, but it doesn't have to be this way.
And while it's certainly possible to get yourself out of debt simply following sound financial management principles, far too many people can't make it work for one reason or another.
Here's a short video clip with some great ideas and suggestions for eliminating the debt that's holding you down:
If you're sick and tired of trying to get yourself out of debt and you want to do it in 1/3 to 1/2 the time it would normally take with NO ADDITIONAL income, visit the 'Debt Free At Last' link above to learn about a revolutionary tool that can help you do just that.
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December 13, 2008
- American's Have $971 BILLION of Credit Card Debt
According to the Federal Reserve G.19 Release from November 2008, American's owe a total of $971 Billion to credit card companies. That ends up being $3,184 of credit card debt per person, or $8,299 per household. And in spite of the troubled economy we're facing, the amount of consumer debt rose 1.2% in the month of September, up from a .4% increase in the previous month.
It certainly points to the fact that no matter what the talking heads want us to believe, American's are spending money. In fact, in 2007 the amount of credit card debt rose 7% over the previous year and points to the sad fact that as a country and as consumers we're WAY TOO reliant on credit cards.
One of the challenges we're currently facing as a country is crippling credit crunch that lead to the governments $700B bailout just a few short months ago. As more and more banks began tightening their credit requirements and started pulling back on the amount of credit extended, we've all felt the impact. Unfortunately, until we're able to get a handle on this staggering amount of consumer debt, we'll continue to live in fear.
The only way we can truly be free from the emotional ups and downs that comes with living under the weight of an average of $8,299 of credit card debt per household is TO ELIMINATE OUR DEBT!
The mission of the Fiscal Freedom FightersTM is to help you learn how to get out of debt. This is the only way we can regain our prominence as as country and eliminate much of the stress and fear that comes with debt.
To learn more about how you can get out of debt in 1/3 to 1/2 the time, Contact Us to learn about a revolutionary money management program that acts as you're full-time financial advisor that's with you 24-7-365.
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