Posts Tagged ‘motivation’

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!

8 money missteps that can really hurt you financially

And even though parts of the economy are starting to look stronger, the unemployment rate remains at 9.7%, many families are absorbing weeks of unpaid furloughs and others are simply trying to rebuild what they have lost.

Don’t compound your problems by making these eight major money missteps:

Click Here To Learn The 7 Steps

Minorities Effected by Foreclosure Crisis Podcast with Steven Williams Hosted by Marvin King

I recently did an interview with Marvin King Host of King Politics concerning the foreclosure and debt crisis in the African American Community.  He has a weekly podcast that talks about issue’s concerning the African American Community such as health, debt, foreclosure, re-gentrification, politics and more.

I highly recommend my subscriber’s or anyone reading this post to visit his website and listen to what he has to offer.

My Interview on April 12, 2010 King Politics Podcast

King Politics Website Click Here

The Real Debt Solution Coaching Club

Thanks again for subscribing to my list I really appreciate the opportunity to communicate valuable information about getting out of debt!

There are rarely times that an individual can truly say “I saw it coming” and really mean it…

But I’m about to put my reputation on the line and make a very bold prediction!!!

By June, 2010 the housing market will crash again.  Single family housing!

But there will be a little twist…Not the purchasing market – the crash will consist of families that can’t afford to live in their homes anymore.

These will not be sub-prime homeowners like the last time.  This will be good credit / good job holding American’s.

So why will this happen?  DEBT!!!  These families have good jobs but they have too much debt.  They are about to start experiencing what I call a “Pyramid Effect”

If you were to draw a pyramid on a piece of  paper and at the top of the pyramid you start with the number 1 and under that 2 and keep going down until you get to the number 10.

As you go down you’ll obviously see the pyramid getting wider and wider.  Now draw a line down the middle of the pyramid.  The line represents Income – the number on the side represent accumulated debt!

I used this example because its a great way to demonstrate how your income would need to widen to keep up with your spending.

Unfortunately there is a point of ‘No Return’ a lot of these families will have to move and cut their lifestyle because they owe too much.

If you need help contact me or visit my website before it’s too late!

http://www.therealdebtsolution.com

Steven Williams
The Real Debt Solution, Inc,.
262-745-6879

How To Stop Debt Collection Calls

I ran across this article and thought it might help my subscribers…

I recently changed phone numbers when I got a Google Android phone. The last owner of my number was a guy with several bill collectors on his ass. I just got an intimidating robocall from one of his debt collectors, which left the following message:

This message is for [name removed]. You’ve been named as a person of interest in an important matter. You need to contact this office immediately or decisions will be made without your knowledge. Press 1 or call 888-772-4172, extension 1.

I hate it when decisions are made without my knowledge.

The call came from CCF Inc., according to 800 Notes, a site where users discuss harassing calls they’ve received from unknown numbers.

If you’re being hassled by a debt collector, there are steps you can take to limit their calls. Under the Fair Debt Collection Act, if you notify them in writing never to contact you they are legally required to stop. They also cannot call you from 9 p.m. to 8 a.m. and cannot call you at work after you inform them this is not allowed.

Bank of America Mortgage Modification Plan – Good or Bad?

If you’ve been watching the news over the last year and a half it’s all about foreclosures and job loses.  Some states (Michigan, Nevada, California, Florida) have been crushed by foreclosures.  This has meant a steady decline in home values.  So the ripple effect is that people that want to sell their homes can’t get what they are worth and a lot of properties are sitting abandoned in certain neighborhoods.

The huge bailout that Wall Street received from us American Tax payers was suppose to help this situation but all they did was save their asses and pay-out big F”in Bonuses to employees that got us in the situation.  If you’ve been reading my blog postings you know that I don’t dwell on the past.  So the President and congress has came up with a program asking banks that took government money to figure out a plan to help people keep their homes.

So here’s their new plan:  Bank of America is the only bank that has stepped up so far…you must be 2 payments behind and your mortgage must be 25% more than your home is worth on the market.  If this is the case you will be eligible to refinance your home at a lower interest rate, the mortgage company will forgive the 25% principal that you are upside down in value and lower your monthly mortgage payment.

Sound’s good so far for the people that just got into trouble but what about the people that have kept up their payments?  They never want to really do what can really help people get back in shape financially.

Problem #1 – the 25% forgiven principal will not just go away.  The mortgage company is going to write that off and send the family a 1099 form for that amount as income.  BIG TAX HIT!  You see…we can run away from a house and mortgage company if we can’t afford it, but UNCLE SAM – Tax Man we can’t run from.

Problem #2 – it doesn’t stop these families from refinancing again.  I’m not into telling people what to do, but I’ve seen families in my neighborhood get new stuff by refinancing their homes and using the money to pay for it.  Not understanding that they would have to pay it all back some day.

Problem #3 – are they going to do credit checks?  If so, that may disqualify 99% of the applicants.

Problem #4 – are they going to do a full income verification?  If so, that may disqualify 99% of the applicants.

Stay tuned for more information as its released.  The details are still sketchy.

The Best Solution Get Out Of Debt Now…

Are You Suddenly ‘House Poor?

Five Steps to Get You Back on Track

The housing market is in shambles and every day the bleak news seems to get worse. With foreclosures at a record high, economists predict the pace won’t slow down for at least another 6 months. Behind these grim statistics are families who are struggling and desperate, trying to figure out how to hang on to their homes and ease their money woes.  If you’re one of those families, you probably feel like you’re stuck in a losing situation.  But you can take some steps to regain control of your finances and get back on track!

“While the Federal Reserve cut the interest rate in an effort to prevent the housing slump from spurring a recession, you should look into the other measures the government is taking,” says Barbara Williams – a self-made millionaire, success coach and spokesperson for the Success Institute of America.  “For example, investigate the possibility of re-financing a problematic loan through the government’s FHA Secure loan program. This program may help if you’ve suddenly found yourself ‘house poor’ due to creative financing that’s taken an ugly turn and sent your adjustable mortgage rate payment skyrocketing.”

But don’t rely solely on the government to save you from financial ruin. If you’re one of the millions of Americans consumed with stress over finances, it’s time to take action.

Five Key Steps to Regain Your Financial Health

1. Assess your financial situation: Make an honest assessment of your current income including the how, when and where of your spending.  Determine how much money you’re forking out each month for bills, but don’t forget to take into consideration the spending on everything from prescriptions to lunches, haircuts to dry cleaning.  It all adds up!

1. Decide where you want to be financially: By setting financial goals you will be able to focus on what you need to do in order to get there.  Is taking a second job a good idea?  Assess if there are corners that you can cut in your spending which will help you become financially fit.  Believe it or not, cutting out the daily latte may be one of the keys to reaching your financial goals faster.

1. Make goal-based decisions: Don’t just make any financial decisions – make decisions based ONLY on whether they bring you closer to achieving your financial goals.  Do you really think that signing up for premium cable TV package when you are struggling to pay the mortgage brings you any closer to your goals!  Make sure to take into consideration that better financial decisions move you forward on the path to success!  Stop rationalizing expenses.

1. Do something every day to move you closer to your financial goal: Knowledge is power and in order to stay motivated, why not keep finding new ways to stay on track?  Attend a money management workshop, read a financial advice book, find helpful internet based newsletters or possibly even ask for professional help.  Doing this everyday will keep you focused on your goals and prevent you from slipping into bad habits.

1. Learn to manage the money you have now: Money management is the most critical factor in building wealth, so it is time to learn how to live on par with your income.  If you are really motivated to make a change, learn how to live beneath your means.  This is a surefire way to accumulate wealth!

As a financial expert, Williams understands why so many Americans feel anxious about their finances. She firmly believes financial health is about more than money. She says when people are under financial duress it affects all areas of their lives. That’s why it’s so critical to take action.

“Financial problems hurt more than your bank account,” says Williams. “When you feel stressed about money, that anxiety has a negative impact on all areas of your life—your relationships, your job and your health. I bet you find yourself snapping at your family and constantly distracted by thoughts of how you’re going to pay each bill. It’s definitely not a healthy way to live.”

Williams says it’s important to start your roadmap for the future as soon as possible. “Carve out some time to sit down, grab all of your bills and outline your roadmap. Simply taking that first step will instill a sense of relief.”

###

About Barbra Williams

Williams is a highly successful entrepreneur. She built a million dollar company from the ground up with just $500 cash. She is also a success coach and mentor, specializing in personal and financial development training.  Through the Institute for Success, she has helped thousands of businesses, professionals and individuals achieve their goals.

Williams is a highly sought after lecturer/instructor who teaches management, marketing and entrepreneurship for many college and government programs. In addition, she’s popular on the guest speaking circuit.  Countless network marketing representatives, real estate agents, and other professionals including doctors, athletes and various business owners have turned to Williams for her vast expertise.

Williams and her husband Steve have three daughters.  She is very proud that her entrepreneurial efforts have allowed her to raise her girls personally- no daycare or babysitter. .  Visit www.incometoday.net for more information about Barbra Williams.

Suicide Spreads as One Solution to the Debt Crisis

In a culture where credit rating is the key measure of self-worth, the increasing response to huge debts is “Just shoot me!”

A few days before Congress passed its Housing Bill, Carlene Balderrama of Taunton MA found her own solution to the housing crisis. Just a little over two hours in advance of the time her mortgage company, PHH Mortgage Corporation — may its name live in infamy — was to auction off her home, Balderrama killed herself with her husband’s rifle.

This is not the kind of response to hard times that James Grant had in mind when he wrote his July 19 Wall Street Journal essay entitled “Why No Outrage?” “One might infer from the lack of popular anger,” the famed Wall Street contrarian wrote, “that the credit crisis was God’s fault rather than the doing of the bankers and the rating agencies and the government’s snoozing watchdogs.” For contrast, he cites the spirited response to the depression of the 1890s, when lawyer/agitator Mary Lease stirred crowds with the message that “We want the accursed foreclosure system wiped out …. We will stand by our homes and stay by our firesides by force if necessary”
Read More
Learn How To Get Out Of Debt Fast

Suicide and Depression Due To Debt

Severe debt can cause depression and even suicide
Some just can’t seem to find a way out

By Emily Starbuck Gerson
Getting depressed over an increased debt load is normal, experts say. Typically the situation is temporary and as the debt lightens, so does the depression. There are those, however, who don’t see a way out of their financial mess and become so despondent they contemplate or attempt suicide.

Today’s economic climate is enough to depress anyone:

A record 272,171 homes foreclosed in July 2008 alone.
Over the past year, the number of unemployed people increased by 1.6 million — bringing the number of total unemployed to 8.8 million.
79 million people are struggling to pay medical debt.
The average college student graduates with nearly $20,000 in debt.

Read More…
Get Out Of Debt Fast

President Obama “The People Want Our Money Back”

President Obama held a press conference this week asking for the people’s moneyback from the Wall Street Banks. They seem to feel that it was ok to pay big bonuses to their employees that were responsible for the financial meltdown of 2008-now.

I believe that this will trigger the resignation of Treasury Secretary Timothy Geithner. He is very close to Wall Street and now that the president has stepped up and outed Wall Street to the American People there will be some issues. It’s not just words from the president…he is proposing a Special Bank Tax that will bring in about $90 billion dollars to help keep the banking system stronger.

Fed Chairman Ben Bernanke is still fighting to keep the Federal Reserve Central Banking information private. I think if he wants to do that they need to take the word Federal off of their name. They don’t want this disclosure because will finally see where all of our money is going.

With all of this happening I’m still getting reports of families breaking up, individual’s committing suicide, robbing corner stores and banks because they don’t have money. They have too much debt and they don’t see a way out. There is a way out…The Real Debt Solution.com has powerful information that can help you get out of debt faster, fight back against collection agencies, repair your credit and much more!!!

Get Out Of Debt Fast