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Debt Consolidation - Is It Really The Best Option For You?
It is a very common question that people pose to themselves across the English speaking world: should I consolidate my outstanding debt? There is no single answer to this question, as no two people have identical finances and other personal...
Debt Consolidation Services - 3 Things To Watch Out For With Debt Consolidation Companies
Debt consolidation services can provide a valuable service by
lowering your interest rate with creditors, enabling you to pay
off your unsecured loans and bills in a short period. However,
there are companies that would rather take your money...
Debt Negotiation Vs. Debt Management
Debt negotiation and debt management/consolidation both help
consumers pay off their debts through two different approaches.
Each affects your credit score, payoff period, and taxes
differently. Before choosing either options, be sure...
The Human Side - Debt Stress
In all the technical discussion you hear about credit card debt , the best ways to manage it and pay it off and all the rest, one thing goes largely ignored. Credit card debt is extremely stressful, and can have a very negative effect on your...
Why You May Need Credit Card Debt Consolidation
You find yourself in a situation of mounting credit card debt. You have 5 credit cards in your wallet and have been shopping more than you earn. Initially you had no problems managing your funds but it has started to snowball not too long ago. Your...
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What Do The Teen Credit Card Debt Statistics Tell?
Well, you don't really need to look into the teen credit card
debt statistics to tell what's going on. The teen credit card
debt statistics would probably look very similar to any other. I
think I read somewhere about teen credit card debt statistics
and those teen credit card debt statistics indicated that a lot
of teens in US had a significant amount of balance on their
credit cards; something which they shouldn't have (considering
their limited needs for credit). Though these teen credit card
debt statistics would give you a fair idea of how our teens are
faring in the world of credit cards it's really not so important
to talk about teen credit card debt statistics as it is to talk
about the ways of bettering the teen credit card debt statistics
(I mean bettering the teen credit card debt statistics in a
positive way).
So how do you better teen credit card debt statistics?
Well, the bettering of teen credit card debt statistics would,
as you must have guessed, start with education. This education
has to start early in the life of the teens. Here we are not
talking about just credit cards related education but the
education about managing their finances in general. Teen credit
card debt statistics cannot be improved without explaining the
actual value of money to the teens (and also teaching them how
to use it). So, for bettering teen credit card debt statistics,
we need to give them an all round education on managing money
and finances.
This can start with asking them to maintain a
record of their pocket money and how they spend them. Also,
engage them into education related to money management (of
course, you have to customize the discussion to suit their level
of knowledge and maturity). The next step would be to open a
bank account for them and teach them the various aspects of
managing it. Teach them what debt it and when it is considered
bad. Debit card could be the next step for them. Once they start
becoming comfortable with doing their bank transactions by
themselves, you can get a prepaid credit card for them
(something that has a preset limit of $200-250). You could also
use a low limit credit card (with $250 credit limit) and teach
them how to use it.
Thus you can follow a step-by-step approach to ensure that your
teens learn the best practices (and hence you can keep them out
of those horrifying teen credit card debt statistics, thereby
contributing to bettering the teen credit card debt statistics).
About the author:
What was started as an online store, has turned into a growing
collection of internet resources on subjects ranging from
Network Marketing, Investing, Health, Travel and even Credit
Cards. Visit http://www.mjesales.com for
our store or http://www.mjesales.c
om/articles.htm for more articles. This article may be
reproduced only in its entirety.
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| Oxfam policy paper on relationship between international debt servicing and poverty. Linked to table of contents and also zipped for download. |
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| 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. |
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