DEBTSMART® EMAIL NEWSLETTER
ISSN 1538-6740
August 14, 2002 Issue 32

Tools for financial success!
A Free E-Mail Newsletter from DebtSmart® Online and Press One Publishing.

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Publisher: Scott Bilker, mailto:publisher@debtsmart.com
Editor: Richard Crammer, mailto:editor@debtsmart.com 

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For instructions to SUBSCRIBE, and DISCLAIMER, see bottom of this email.

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IN THIS ISSUE

==> Cool Statistic

==> Letter from the Publisher

==> What is Better? Fewer Cards with Higher Balances,
       or Many Credit Cards with Smaller Balances?

==> Household Math™: Mortgage Savings

==> Personal Budget Survey

==> Six Keys to Budgeting Success

==> Get Started on the Path to Financial Freedom!

==> Low Overhead

==> Eight Steps to Tackle the Money-Saving Process

==> Why Warranties?

==> DebtSmart® Resources

==> Subscribe/Disclaimer Information

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PLEASE FORWARD THIS ISSUE

If you haven't already done so, please forward this issue to one or two of your friends or business associates.

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COOL STATISTIC

"The amount that Americans owe on loans for houses, cars, credit cards, and other purchases add up to nearly 100% of their annual income after taxes. That's up from 75% in 1992, after the last recession ended."
--Business Week Online, 8/5/02

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LETTER FROM THE PUBLISHER 
by Scott Bilker

Hi,

Thanks again for all your responses to last issue's survey "The Rich; Love'em, Hate'em." Quite a mix of responses...it seems that in many ways we hate'em, want to be like them, but believe they didn't steal the money. Check out all the results at:
http://www.debtsmart.com/cgi-pl/go/020814_en.cgi?04&7428 

This issue's survey is all about budgeting. How you handle your personal financial planning. I'm looking forward to learning more from you.

Regards, 
Scott

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WHAT IS BETTER? FEWER CREDIT CARDS WITH HIGHER BALANCES, OR MANY CREDIT CARDS WITH SMALLER BALANCES? 
by Scott Bilker

My husband and I are preparing to buy a new home. We want to clean up our credit card accounts to better our chances for a mortgage. We were considering paying off our credit cards with smaller balances using other credit cards. What is better when your credit is being considered for a home loan--fewer credit cards with higher balances or more credit cards with smaller balances? The cards we are planning to pay off we are going to have closed so there are fewer credit accounts opened. Is that a smart move?

Click below to read article:
http://www.debtsmart.com/cgi-pl/go/020814_en.cgi?05&7428 

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HOUSEHOLD MATH™: MORTGAGE SAVINGS

Say you have a 30-year, 7% APR, $150,000 mortgage. You know that you're going to pay back far more than $150,000 in that 30-year period and you want to save money. You decide that you want to save 50% of the total money repaid under the 30-year terms. The question is, how much more, by percent, do you have to increase your current monthly payment to save 50% on the overall payments compared to the original mortgage?

Click below to answer problem:
http://www.debtsmart.com/cgi-pl/go/020814_en.cgi?06&7428 

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PERSONAL BUDGET SURVEY

Fixing debt and spending problems first requires knowing where they exist. To know that involves tracking spending, setting goals, and being very organized. How organized are you? Please let us know by taking this issue's survey.

Click below to take the survey:
http://www.debtsmart.com/cgi-pl/go/020814_en.cgi?07&7428 

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SIX KEYS TO BUDGETING SUCCESS 
By Nancy Twigg

Although many people cringe when they hear the word "budget," our family budget has come to be one of my best friends. One key to abundant living for us is financial peace--knowing that we are living within our means while setting aside money to...

Click below to read article:
http://www.debtsmart.com/cgi-pl/go/020814_en.cgi?08&7428 

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GET STARTED ON THE PATH TO FINANCIAL FREEDOM!

The DebtSmart® Basic Financial Package is the first step to the financial freedom you deserve! It includes Credit Card and Debt Management, How to Be More Credit Card and DebtSmart, and the No- Bills Complete Office Suite all for $59.95. Retail Value for these items is normally $79.95.

Get Started Today! Use the below link to read more!
http://www.debtsmart.com/cgi-pl/go/020814_en.cgi?12&7428 

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LOW OVERHEAD 
by Gary Foreman

When I was a boy one local department store had a jingle that featured the repeated chorus of "low overhead, low overhead". They claimed to offer lower prices because they kept their 'overhead' down. If they spent less on rent and other fixed expenses they could make a reasonable profit at a lower price.

I was too young to remember which store ran the ads. So I don't know how low their prices were or whether the ads filled the store with expectant shoppers. But I can tell you that the concept is correct.

And the same idea applies to our family finances. The lower your 'overhead' is the more...

Click below to read article:
http://www.debtsmart.com/cgi-pl/go/020814_en.cgi?09&7428 

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EIGHT STEPS TO TACKLE THE MONEY-SAVING PROCESS (PART ONE) 
By Gregory Thomas

Part 1: Do You REALLY Want To Save More Money?

Asking the question if you really want to save more money may seem a little absurd, especially since everyone probably wants to increase their savings account and have more money to spend. Less debt and more savings sounds like the best of both worlds, right?

The reason I'm asking if you REALLY want to save more money is to...

Click below to read article:
http://www.debtsmart.com/cgi-pl/go/020814_en.cgi?10&7428 

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WHY WARRANTIES? 
By Doris Dobkins

Have you ever wondered why most companies offer extended warranties (service contracts) for the products they sell? Do they already know that something is going to go wrong with your product or do they know...

Click below to read article:
http://www.debtsmart.com/cgi-pl/go/020814_en.cgi?11&7428 

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DEBTSMART® RESOURCES

DebtSmart® Books, software, reports, in-print and downloads:
http://www.debtsmart.com/cgi-pl/go/020814_en.cgi?01&7428 

Archive of DebtSmart® Email Newsletters online:
http://www.debtsmart.com/cgi-pl/go/020814_en.cgi?02&7428 

How to use DebtSmart® articles FREE in your e-zine or on your web site:
http://www.debtsmart.com/cgi-pl/go/020814_en.cgi?03&7428 

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HOW TO SUBSCRIBE OR UNSUBSCRIBE FROM THIS NEWSLETTER

All recipients of DEBTSMART® EMAIL NEWSLETTER have signed up voluntarily for the newsletter via our website.

TO SUBSCRIBE to this newsletter click on the below link and complete the subscription form:
http://www.debtsmart.com/cgi-pl/go/020814_en.cgi?00&7428

Please contact mailto:comments@debtsmart.com with any comments, problems, or concerns.

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The author(s), Press One Publishing, and DebtSmart.com shall have neither liability nor responsibility to any person or entity with respect to any loss or damage caused, or alleged to be caused, directly or indirectly by the information contained in this email newsletter and/or at the DebtSmart.com web site. The information, methods and techniques described may not work for you and no recommendation is made to follow the same course of action. Every effort has been made verify the accuracy of all content contained herein. However, there may be mistakes; typographical, mathematical or in content. This email newsletter and the DebtSmart.com web site have been created for your entertainment only. You must always seek the proper professional advice before taking any financial or legal action. You have been warned.

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Copyright © 2002 Press One Publishing. All rights reserved. Please do not reprint, or host on your Web site, without explicit permission. However, if you found this newsletter helpful, we grant you permission, and strongly encourage you, to e-mail it to a business associate or a friend. Thank you.