|
|
|
5 Surefire Ways To Eliminate Credit Card Debt
Do you have enormous credit card debt? You are certainly not alone. According to research, the average family in the United States has $7000 in credit card debt and pays about $1000 in interest each year! Throw in a late payment or two, or an...
Becoming Free of Debt
What keeps the most people from developing wealth? What is the greatest obstacle to retirement? If you could eliminate one thing to position yourself for financial peace and security, what would be? The answer to each question above is debt!...
Debt consolidation mortgage: ‘home solutions’ for integrating arrears
Credit card debts, auto loans debts, secured loans debts, unsecured loans debts – debts of all sorts and types registered against your name. It is hardly a very promising situation. Debt is an obligation from which you can’t turn away. It is...
Debt Reduction Program - Finding The Right Program For You
Find the right debt reduction program begins by asking yourself some key questions. Once you have identified your situation and goals, you can pick the program with the best results.
Ask Yourself Some Questions
What kind of debt are you...
Working Toward a Debt-Free Lifestyle
As debt becomes a greater factor in the day-to-day life of more
people, many wish that they could arrange their lives so as to
completely eliminate their personal debts. Though it may seem
like little more than a pipe dream, it actually is...
|
|
| |
|
|
|
|
|
|
Do You Have Debt - Then Don't Save
Humans are funny creatures. We don't always do what's best for
us - instead, we do what feels best at the time, and try to
blank out any reasons why it might not be the best thing to do.
It's called self-justification. Or just plain illogical to many.
Maybe that's why there are so many people who have both savings
and debts.
A Matter of Psychology
Yes, it feels better to save. Saving feels like building a
foundation for your future, while paying off debt feels like
throwing your money down the drain. That money is for the kids'
education, or for improving your house, or whatever else - and
it's in an account earning a good rate of interest. What could
be wrong with that? Absolutely lots, if you have debts.
Don't Be Fooled - Here is a Real Life Factual Example
There are almost no savings accounts that offer interest rates
as high as the ones credit cards charge. Here's a question: if
you have $10,000 in a savings account earning 5% per year and
$5,000 on a credit card at an interest rate of 20% per year, how
much money do you have? After just five years, the answer is
effectively $0 - your debt would have grown to around $12,500,
the same amount that your savings are now worth.
You might not believe it now, but it really is much better to
pay off your debt. If you used half your savings to pay off that
debt, you'd be in such a better position that it's really
amazing. You avoid five years of compound interest on the debt,
but you still get to keep $5,000 in your savings account,
earning interest - after five years, that's about $6,380.
If you'd still rather keep your savings intact instead of using
them to pay off your debts, ask
yourself this simple question:
is your pride worth $6,380 of your family's money?
Think of Your Financial Health
When you have enough money to pay off your debt, there's
absolutely no reason to keep it. Debt is for people who don't
have the money, and need to borrow it. Debt costs money, and
savings make money - you want as much of your finances as
possible to be savings, not debts. If your savings account and
credit card are with the same bank, then you're effectively
paying for the privilege of borrowing your own money from them.
Why would you do that?
There are other benefits to paying off your debt with savings.
You'll be less stressed about your debts, and your credit report
will show that you were able to pay everything back - getting
you a much better interest rate if you ever need to go into debt
again.
I know it can be hard. You just have to remember that any money
you've 'saved' hasn't really been saved at all. It's money you
should have been spending instead of making purchases with a
credit card. Yes, it feels much worse to spend money thinking
that you're spending away your future - but always remember that
when you use a credit card to spend that same money, you're
spending away your future, plus interest. Anyway, if you've got
the debt, then those savings have already been spent - stop
denying it to yourself.
About the author:
Original Source: Articles-Galore.com
Information supplied and written by Lee Asher of The Home Income Portal
Home of Serious Online Business Options.
|
|
|
|
|
| Advertisements Promising Debt Relief May Be Offering Bankruptcy |
| Cautions consumers about ads in newspaper, magazine and telephone directories that offer quick fixes for debt problems. |
| www.ftc.gov |
|
| Welcome to Debt Relief International |
| Welcome to the web site of Debt Relief International. |
| www.dri.org.uk |
|
| Debt relief steps, your free guide to debt help. |
| Articles on debt relief, and credit management and repair. |
| www.debtsteps.com |
|
| Factsheet - Debt Relief Under the Heavily Indebted Poor Countries ... |
| The HIPC Initiative is a comprehensive approach to debt reduction for heavily indebted poor countries pursuing IMF- and World Bank-supported adjustment and ... |
| www.imf.org |
|
| Special report: debt relief | Special reports | Guardian Unlimited |
| February 6: A year ago the Guardian set out to track the west's promises of action for Africa on aid, trade, health and debt relief. As G8 finance ministers ... |
| www.guardian.co.uk |
|
| Debt Relief Options - Findlaw for the Public - |
| Welcome to Debt Relief Options. This section contains information about the ... To begin, select one of the Debt Relief Options topics from the list below ... |
| bankruptcy.findlaw.com |
|
| William Brewer |
| The Brewer Law Firm. William E. Brewer, Jr., Attorney at Law Board Certified Consumer Bankruptcy Specialist. 619 N. Person Street Raleigh, NC 27604 ... |
| www.debtrelief.com |
|
| Debt Relief - InCharge Debt Solutions |
| There are many ways to get out of debt, for good, and it may be easier than you think. The first step is knowing your options, the second step is taking ... |
| www.incharge.org |
|
| Economic Policy and Debt |
| May 2006, IMF And World Bank Support Cameroon’s Completion Point Under The Enhanced HIPC Initiative And The IMF Immediately Grants 100 Percent Debt Relief ... |
| www.worldbank.org |
|
| Economic Policy and Debt - The Enhanced HIPC Initiative |
| The Initiative’s debt-burden thresholds were adjusted downward, which enabled a broader group of countries to qualify for larger volumes of debt relief. ... |
| www.worldbank.org |
|
| Debt relief - Wikipedia, the free encyclopedia |
| Debt relief is the partial or total forgiveness of debt, or the slowing or stopping of debt growth, owed by individuals, corporations, or nations. ... |
| en.wikipedia.org |
|
| Debt Analyzer, Debt Reduction Software, Home Page |
| Debt Elimination at its best! Potential savings of hundreds or thousands of dollars! Build debt reduction, timed elimination or consolidation schedules. |
| www.debtanalyzer.com |
|
| Superior Debt Relief |
| We help you get rid of credit card debt much faster than you may believe possible with credit card debt settlement and negotiation tactics, providing debt ... |
| www.superiordebtrelief.com |
|
| Debt Relief - Social and Economic Policy - Global Policy Forum |
| Aid Inflows, Debt Relief Yet to Translate into Reduced Poverty (March 20, 2006) ... Fearing that the IMF could tie debt relief to economic benchmarks, ... |
| www.globalpolicy.org |
|
| Debt Relief - Global Policy Forum - Social and Economic Policy |
| Debt Relief - Global Policy Forum - Social and Economic Policy. The Debt Relief Page Has Been Moved to: ... |
| www.globalpolicy.org |
|
| BBC NEWS | Business | Q&A: African debt relief |
| BBC News looks at the progress of international debt reduction efforts, and the sticking points which continue to hamper the process. |
| news.bbc.co.uk |
|
| Debt Relief Australia - Start Reducing Debt Today! |
| Debt Relief offers Australians in debt assistance with finding the most appropriate debt relief solution. |
| www.debtrelief.com.au |
|
| Debt Consolidation Australia, Debt Relief & Bankruptcy Information |
| Specialising in debt agreements, mortgage refinancing and bankruptcy. Company profile, calculators, solutions, media releases, testimonials and existing ... |
| www.foxsymes.com.au |
|
| Oxfam - Debt and Aid - Debt Relief for Nicaragua: breaking out of ... |
| Oxfam policy paper on relationship between international debt servicing and poverty. Linked to table of contents and also zipped for download. |
| www.oxfam.org.uk |
|
| What debt relief means for Africa | csmonitor.com |
| This weekend's $40 billion debt cancellation deal could spark major improvements in the lives of the world's poorest people. |
| www.csmonitor.com |
|
|