Posts Tagged ‘debt free’

Getting Out Of Debt Can Be Frustrating and Depressing!

It causes a lot of stress and financial problems are thought to be the cause of thousands of ruined relationships. If you are dealing with debt stress, reading some getting out of debt stories from people who have managed to get through it can be very beneficial. There are many books you can find on the subject and you can also find these stories in magazines and online.

Learn Some Tricks

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One thing that you can gain from reading getting out of debt stories is some tricks on dealing with your debt that you may not have thought of on your own. Everybody’s financial situation is different and so different methods of taking care of debt have to be devised to suit your personal circumstances.

If you are reading about how someone in a situation similar to yours got out of debt, you may be introduced to some ideas that will help you out as well. Also, many of these books are compiled by individuals who specialize in the financial/debt field. This means that they may toss in valuable debt reduction pointers in between the stories.

Find Motivation and Battle Despair

One day taking care of your debt may seem to be going well, and the next day you feel like your world is crumbling around you. When things like this happen, reading some getting out of debt stories can motivate you again.

Something you will probably find in these stories is people who were in much worse situations than you. They had to find their way out of a very deep financial hole, but they found ways to keep at it and now their lives are back

in order.

By seeing the success of someone who was buried deeper in debt than you are, you can find a lot of motivation. If they could get themselves out of that situation, you can get yourself out of this one! This can be a very powerful mental tool.

Keep in mind that no matter how dark things may seem, there is always someone out there who has gotten through worse.

Keep Yourself Out of Debt

Once you have cleared most of the debt out of your life, you will have created a real sense of financial freedom. Your income will stop vanishing into the bank’s coffers to pay expensive interest payments and it becomes all yours to spend however you want.

Now you just need to keep yourself that way. By keeping some getting out of debt stories around where you will see them once in a while, you are providing yourself with a reminder. You may be tempted to open that line of credit because the payments really aren’t that much. But when you think about the book of debt stories sitting on your shelf, you will rethink your situation and probably walk away from this destructive train of thought.

By reading up on some getting out of debt stories, you are providing yourself with a powerful motivational tool. You would be amazed at the positive effects something like this can have on even the most seemingly-hopeless situation.

If you are despairing, these stories can remind you that your situation really isn’t that bad, and that you have the ability to get yourself out of it. Not only that, they will also provide you with a means to do this by giving you some tips and pointers to use to reduce your own debts along the way.

Frank Lucas vs Chris Gardner

Today I purchased a new computer for an employee that will be joining my company on Monday.  The programming and data transfers were going to take 4 hours.  I didn’t have to do anything but press a button once.  But I did have to sit in my office to make sure the process didn’t stop without being finished.

So I was flipping through the TV channels and I ran across ‘American Gangster’ about The notorious drug dealer from the 70′s Frank Lucas.  The next movie was ‘The Pursuit of Happiness’ about the single parent/homeless/medical supply salesman Chris Gardner who transformed his life to become a multi-millionaire stock broker.

They both had choices to make.  Frank chose the wrong path by dealing drugs and Chris took the right path by transforming his mind into doing something that most people didn’t think he could do.

I guess what I’m trying to get across is that we do have choices.  I see a lot of people hurting financially and they don’t think they have a choice.  Maybe if they started thinking positive that could be a small step towards success.

Don’t be afraid to take some small steps…the regrets in life come from not trying.

Money Isn’t Everything…????

After a long day of meeting with clients and my staff I was listening to a radio show and a caller stated that “Money Isn’t Everything”.  I thought about what the caller said and I think we accept that statement to remain civil with each other, after all its not good to brag about your finances.  Even though we brag with our possessions rather than our words most of the time.

I continued to think about that statement…”Money Isn’t Everything” I couldn’t get it out of my mind.  As I started to analyze the statement I came to the conclusion that…Money Is Everything!

We need money to pay our…

Rent

Mortgage

groceries

electric bill

water bill

medicine

clothing

shoes

wedding rings/jewelry

car payment

credit card bills

student loans

vacations

traveling air plane, bus, train, etc.

savings

there’s really too many things to list!

I think that when a person makes the statement “Money Isn’t Everything” they have given up the pursuit of financial independence.

I use to be afraid to talk about money because I didn’t come from money and I always wondered by I was so fortunate rather than my friends and family members.  This was a very had thing for me to get over and I’ve really just did way with it about 6 months ago.

To me Money Is Everything!!!  It allows me and my family to experience life at a level that most never will.  I feel FREE!  I’m not bound my by my pocket book.  I experience life and I enjoy seeing my family experience life.

Here are the 7 Steps to getting your financial house in order…

1. Stabilizing your household situation – you’ll never be able to pay any debt if you can’t ensure that you and your family has a roof over your head, food on the table, utilities paid and transportation to and from work.

2. Set-up a budget – you’ll never understand how to management your money unless you know to the dollar what’s coming in and what’s going out.

3. Put together a debt elimination plan – when you have a budget you can put together a strategy to pay off your debt faster because you see what’s in front of you.

4. Establish an emergency fund – this is very important because most people use a credit card for an emergency fund and that’s a problem. If you have cash on hand more than likely you’ll rarely have emergencies and if you do have one you won’t have to go into debt to take care of it. I recommend at least $500 to $1,000 accessible cash with no penalties if used. While getting out of debt.

5. Review for acceleration of your debt elimination plan – once you have the other steps on paper there are several options that will open up for settlement offers on credit cards, automobiles, payday loans, etc.

6. Action + Action + Belief + Concentration = Tremendous Results – nothing will happen without you taking definite action with belief you can accomplish your goals and a high level of concentration to keep you focused on your goals.

7. Start saving for life experiences…Fun, Retirement, Generational Wealth

Before you sign up for any debt relief program such as bankruptcy, debt consolidation or credit counseling please read this FREE Consumer Guide To Getting Out Of Debt

http://therealdebtsolution.com/debtsolutionblog/getting-out-of-debt-consumers-guide-newly-released/

A Little Goes a Long Way: Smart Secrets to Budgeting

There’s nothing more we want than to be able to efficiently manage our money. After all, the money that we want to manage is money that is oftentimes, hard earned. This is where a budget comes in. A budget executed properly, should help you see where your money is going, get more utility out of every buck, and help you save some extra for future use.

The first smart secret to a budget is to set a goal. What do you want to achieve? Do you want to correctly appropriate your income into bills payments? Do you want to put an amount aside for a big purchase or a huge investment? By having a goal, you will be able to shape your budget to best serve your interests.

Secondly, you would want to take note of where your money usually goes. This includes bills, major but regular purchases (like grocery costs, healthcare costs, and the like), and everyday miscellaneous purchases. Only when you list down where you know your money usually goes will you be able to identify which expenses you can do without. Once you’ve identified these regular expenditures, take into consideration what you can cut back on. How much do you spend on your daily caffeine fix in the morning? How much do you spend on newspaper deliveries to your front door? The measly $2 or $5 of these small purchases cumulatively translates to more than $3600 a year! Instead of buying your expensive latte or reading the newspaper on print, put aside the amount you would usually pay for these small routine purchases in a small container. You will be surprised at how much you’re saving out of your older budget.

Being indebted is a vicious cycle on its own. You’re talking about continuous payments, not to mention huge interest rates. The best way to deal with this is to pay the minimum on all of your debts in order to avoid paying extraneous late fees. Whatever cash excesses you may have, you can opt to add on to the payments you make in your biggest debt. This way, you are concentrated on getting the biggest debts first that cost you the greatest interest rates. Doing this progressively, you’ll be amazed at how much you’ll get off your huge debts.

The last and most important step is to jot down the amount you earn the sum you spend. You can make use of computer cash management programs, or make database sheets of your own. Make a system that works for you and will help you keep track of your monthly budgeting progress.

Here are the 7 Steps to getting your debtsolution.com/debtsolutionblog”>financial house in order…

1. Stabilizing your household situation – you’ll never be able to pay any debt if you can’t ensure that you and your family has a roof over your head, food on the table, utilities paid and transportation to and from work.

2. Set-up a budget – you’ll never understand how to management your money unless you know to the dollar what’s coming in and what’s going out.

3. Put together a debt elimination plan – when you have a budget you can put together a strategy to pay off your debt faster because you see what’s in front of you.

4. Establish an emergency fund – this is very important because most people use a credit card for an emergency fund and that’s a problem. If you have cash on hand more than likely you’ll rarely have emergencies and if you do have one you won’t have to go into debt to take care of it. I recommend at least $500 to $1,000 accessible cash with no penalties if used. While getting out of debt.

5. Review for acceleration of your debt elimination plan – once you have the other steps on paper there are several options that will open up for settlement offers on credit cards, automobiles, payday loans, etc.

6. Action + Action + Belief + Concentration = Tremendous Results – nothing will happen without you taking definite action with belief you can accomplish your goals and a high level of concentration to keep you focused on your goals.

7. Start saving for life experiences…Fun, Retirement, Generational Wealth

Before you sign up for any debt relief program such as bankruptcy, debt consolidation or credit counseling please read this FREE Consumer Guide To Getting Out Of Debt

http://therealdebtsolution.com/debtsolutionblog/getting-out-of-debt-consumers-guide-newly-released/

Federal Reserve Dumps $600 Billion Into US Economy

This week we learned that the Federal Reserve (a non-governmental agency) will be buying US treasury notes in an effort to stimulate the US economy. Many pundits have express concerns about this strategy. They are afraid that it will cause major inflation and weaken the US dollar more.

In my opinion the US dollar is weak because we need it to be weak. When our dollar is weak prices do increase some but we become cheaper to other countries to buy and produce our products and services. The US market is primed for a huge rebound. There have been several so called gurus such as Gerald Celente the Trends Forecaster and other that have been totally wrong about the US dollar collapsing. These so called trend forecasters are just gambling on the future and they don’t really understand what’s really going on.

I’m not hear to tell you what to do or what’s going to happen for sure. But history has shown that the US dollar will rebound and just about every other country will keep the dollar because America is everything they could ever want.

How Desperate Can A Person Be?

While working in my office this past Friday Oct. 29, 2010 I heard a strange noise from outside.

I parked my Land Rover on the street so I can see it out of my window from my desk.  My office is in a pretty good area also.  I’ve never had any problems with people or theft.

I heard that strange noise and I did take a look at my car but I only looked to see if it was hit by another car and I really didn’t look at my entire car.  From space I park at on the street I could only see the front half of my car.  I could have seen the entire car if I was to get closer to the window but I didn’t.

The thief actually ripped 1/4 of my license plate off as you can see in the photo.  This is not the first time something like this has happened to me.  There have been several times at various locations around the city of Milwaukee that this has happened to me, my employees or business associates.

How desperate can a person be to do this.  How much will they receive if they sell it and who is the dumb ass that would buy it.  Don’t they know that their car will not automatically become registered by the state when they put my 2011 sticker on their cars license plate?

I’ve also been running through my mind what would I have done if I saw the person doing it.  Would I have yelled out of the window?  Would I have ran downstairs to my car and punched the person in the face?  I don’t know what I would have done.  This person must have been very desperate and I’m thinking they must have drug problem.  This theft happened at about 2pm so it was nice and sunny outside.

So now I’m going to have to go to the DMV and get a new sticker and order new plates.  My plates are custom plates so I don’t know what the fee will be to replace them.  All of the other times the thieves have only taken the sticker off of my licenses plate.

Here are the 7 Steps to getting your financial house in order…

1. Stabilizing your household situation – you’ll never be able to pay any debt if you can’t ensure that you and your family has a roof over your head, food on the table, utilities paid and transportation to and from work.

2. Set-up a budget – you’ll never understand how to management your money unless you know to the dollar what’s coming in and what’s going out.

3. Put together a debt elimination plan – when you have a budget you can put together a strategy to pay off your debt faster because you see what’s in front of you.

4. Establish an emergency fund – this is very important because most people use a credit card for an emergency fund and that’s a problem. If you have cash on hand more than likely you’ll rarely have emergencies and if you do have one you won’t have to go into debt to take care of it. I recommend at least $500 to $1,000 accessible cash with no penalties if used. While getting out of debt.

5. Review for acceleration of your debt elimination plan – once you have the other steps on paper there are several options that will open up for settlement offers on credit cards, automobiles, payday loans, etc.

6. Action + Action + Belief + Concentration = Tremendous Results – nothing will happen without you taking definite action with belief you can accomplish your goals and a high level of concentration to keep you focused on your goals.

7. Start saving for life experiences…Fun, Retirement, Generational Wealth

Before you sign up for any debt relief program such as bankruptcy, debt consolidation or credit counseling please read this FREE Consumer Guide To Getting Out Of Debt

http://therealdebtsolution.com/debtsolutionblog/getting-out-of-debt-consumers-guide-newly-released/

Are We Being Realistic About The Housing Market?

I was watching the national news today and the housing sells reports were just released and they were up 6% for the month of September.  Just a week ago all the news media reports were crying about the housing marketing being down.  Well this report shows us that the news media is about 30 to 45 days behind the true facts about our economy.  And they are mostly in the business of getting us all upset and emotional so we will continue to tune into their shows.

Houseing Market Up 6% in Sept. 2010

Even though the September housing numbers showed a 6% increase the levels were down 14% from the 2005 numbers of 20%.  I have a few problems with using the 2005 numbers as a measure for the current September 2010 numbers.

Problem #1 – the 2005 numbers were partially based on fraud.  You don’t have to take my word, all you have to do is look at the numbers of foreclosures and the present and past news reports about the fraudulent loans that mortgage brokers were making to unqualified buyers.

Problem #2 – they picked 2005 because that was the peak of the housing boom.  With that fact being known there will never be another time that the housing marketing will have a 20% increase unless they go back to allowing fraudulent loans.

So understanding these facts are we being realistic about how much our economy should be growing?  A 6% increase in sales in the real estate market can equal billions of dollars in profits and millions of dollars in tax revenue for local, state and federal government to share.  There are other industry’s that benefit from the housing market such as furniture stores, home improvement stores (do it yourself), fence suppliers, painters, security companies, etc.

We need a healthy housing market but we need to be realistic and admit that the 2005 highs were partially based on fraudulent loans so we can’t realistically expect to reach those numbers again.

Here are the 7 Steps to getting your financial house in order…

1. Stabilizing your household situation – you’ll never be able to pay any debt if you can’t ensure that you and your family has a roof over your head, food on the table, utilities paid and transportation to and from work.

2. Set-up a budget – you’ll never understand how to management your money unless you know to the dollar what’s coming in and what’s going out.

3. Put together a debt elimination plan – when you have a budget you can put together a strategy to pay off your debt faster because you see what’s in front of you.

4. Establish an emergency fund – this is very important because most people use a credit card for an emergency fund and that’s a problem. If you have cash on hand more than likely you’ll rarely have emergencies and if you do have one you won’t have to go into debt to take care of it. I recommend at least $500 to $1,000 accessible cash with no penalties if used. While getting out of debt.

5. Review for acceleration of your debt elimination plan – once you have the other steps on paper there are several options that will open up for settlement offers on credit cards, automobiles, payday loans, etc.

6. Action + Action + Belief + Concentration = Tremendous Results – nothing will happen without you taking definite action with belief you can accomplish your goals and a high level of concentration to keep you focused on your goals.

7. Start saving for life experiences…Fun, Retirement, Generational Wealth

Before you sign up for any debt relief program such as bankruptcy, debt consolidation or credit counseling please read this FREE Consumer Guide To Getting Out Of Debt

http://therealdebtsolution.com/debtsolutionblog/getting-out-of-debt-consumers-guide-newly-released/

Are You In A Perpetual Debt Trap?

Definition : Perpetual – lasting forever or for a long time. Continuing without interruption; constant.

While I was picking up my dry cleaning I saw a couple of advertisements that promoted buying new furniture with “No Payments For 90 Days”. This made me think of a constant debt cycle that most people including myself in the past would go through over and over again.

I call it a “Perpetual Debt Trap”. There are several types of debt(s) that we will have unless we make a concretive effort to rid ourselves of them. Because these types of debt(s) are usually based around a real need in our lives we are more apt to favor the “Perpetual Debt Trap” they place us into.

Some of the types of debts that keep us in a “Perpetual Debt Trap” are:

• Credit Cards – most credit card users start out paying off either most or all of their balance when they first get a credit card. But as time goes by most users start to carry balances and those balances get higher and higher as the years go by. But to dig a little deeper we really use the credit card for a lot of items such as computers, furniture and clothing that we really need but we shouldn’t have purchased with credit. So what happens is every time we need to upgrade to a better computer or newer furniture we continually use credit cards to or some type of credit to upgrade.
• Auto Loans – this is what 99.9% of American’s do over and over again because they have a tough time paying cash for a car. We need dependable transportation so we feel that it’s ok to either trade-in or purchase a car on credit. The larger problem comes when you constantly trade-in a car and never pay it off you’ll keep owing more and more money.
• Mortgage Refinancing – we currently see the effects of the mortgage refinancing market. People were refinancing to either pay off credit card debt, auto debt, to add on to the property or to get cash out. They never gave themselves a chance to pay down their debt and accumulate equity in their homes.

Are you in a “Perpetual Debt Trap”? Here are the 7 Steps to getting your financial house in order…

1. Stabilizing your household situation – you’ll never be able to pay any debt if you can’t ensure that you and your family has a roof over your head, food on the table, utilities paid and transportation to and from work.

2. Set-up a budget – you’ll never understand how to management your money unless you know to the dollar what’s coming in and what’s going out.

3. Put together a debt elimination plan – when you have a budget you can put together a strategy to pay off your debt faster because you see what’s in front of you.

4. Establish an emergency fund – this is very important because most people use a credit card for an emergency fund and that’s a problem. If you have cash on hand more than likely you’ll rarely have emergencies and if you do have one you won’t have to go into debt to take care of it. I recommend at least $500 to $1,000 accessible cash with no penalties if used. While getting out of debt.

5. Review for acceleration of your debt elimination plan – once you have the other steps on paper there are several options that will open up for settlement offers on credit cards, automobiles, payday loans, etc.

6. Action + Action + Belief + Concentration = Tremendous Results – nothing will happen without you taking definite action with belief you can accomplish your goals and a high level of concentration to keep you focused on your goals.

7. Start saving for life experiences…Fun, Retirement, Generational Wealth

Before you sign up for any debt relief program such as bankruptcy, debt consolidation or credit counseling please read this free consumer guide to getting out of debt at CLICK HERE!

Florida and California Foreclosures Gone Wild!!!

A former paralegal with Florida’s largest foreclosure law practice has told state investigators that the firm routinely signed court paperwork without reading it, misdated records, forged signatures and passed around notary stamps in the rush to foreclose on homes.

“This is just the beginning really,” the paralegal, Tammie Lou Kapusta, told ABCNews.com. “It’s the tip of an extreme iceberg.”

Foreclosure Mess CBS Early Show

Bank of America, JP Morgan Chase and GMAC Mortgage have halted the foreclosure’s in 23 states due to improper paperwork filings. The issue is over the volume of foreclosures that have been processed, a large number of them may not have actually qualified for foreclosure.

Right now the news reports state that bankers may have signed off on foreclosures without really reading what they were signing. This may also effect homeowners that have already been foreclosed on and lost their homes.

In my opinion this is a stall tactic by the banks to keep their stock up. Regardless of what they say there are over 1.3 million foreclosures expected by the end of this year and if we reach that number the banks will reports billions of dollars in losses for 2010. I think that they will hold off until the beginning of 2011 and then they will start kicking people out of their homes again.

For some reason we in America have a short memory span, including the news stations. Last year a group of banks pull the same stunt and right after the new year they were even more aggressive with their foreclosure process.

If you find yourself in this situation here are 7 steps you can take right now to solve your financial problems FAST!

1. Stabilizing your household situation - you’ll never be able to pay any debt if you can’t ensure that you and your family has a roof over your head, food on the table, utilities paid and transportation to and from work.

2. Set-up a budget - you’ll never understand how to management your money unless you know to the dollar what’s coming in and what’s going out.

3. Put together a debt elimination plan - when you have a budget you can put together a strategy to pay off your debt faster because you see what’s in front of you.

4. Establish an emergency fund – this is very important because most people use a credit card for an emergency fund and that’s a problem. If you have cash on hand more than likely you’ll rarely have emergencies and if you do have one you won’t have to go into debt to take care of it. I recommend at least $500 to $1,000 accessible cash with no penalties if used. While getting out of debt.

5. Review for acceleration of your debt elimination plan – once you have the other steps on paper there are several options that will open up for settlement offers on credit cards, automobiles, payday loans, etc.

6. Action + Action + Belief + Concentration = Tremendous Results – nothing will happen without you taking definite action with belief you can accomplish your goals and a high level of concentration to keep you focused on your goals.

7. Start saving for life experiences…Fun, Retirement, Generational Wealth

Before you sign up for any debt relief program such as bankruptcy, debt consolidation or credit counseling please read this free consumer guide to getting out of debt CLICK HERE!