DEBTSMART® EMAIL NEWSLETTER
ISSN 1538-6740 
September 10, 2003 Issue 60

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

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IN THIS ISSUE

==> Cool Quote

==> Letter from the Publisher

==> DebtSmart® Help Center

==> Payoff or close accounts?

==> Household Math™: Average Daily Balance

==> Survey: Splitting the bill

==> New or Used Car?

==> Always check your credit report

==> What’s in your toolbox?

==> DebtSmart® Resources

==> Subscribe/Unsubscribe/Disclaimer Information

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COOL QUOTE

“My credit is horrible. They won’t even take my cash!” 
--May Gillian (Chris Rock) in “Head of State”

Click below for quotes from all previous newsletters:
http://www.debtsmart.com/cgi-pl/go/030910_en.cgi?04&7428

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LETTER FROM THE PUBLISHER
by Scott Bilker

Hi,

Tomorrow is a day of remembrance. Reflecting on the lives lost two years ago in a senseless act of terrorism. Now I know how my parents felt when they told me as a child that they remember everything they were doing the moment President Kennedy was shot.

September 11, 2001 will be vivid in all our minds for the rest of our lives.

We will never forget.

Regards, 
Scott

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DEBTSMART HELP CENTER
By Scott Bilker

Helping you with your debt is very important to me personally! If you've been reading my articles, you know that I always encourage self-help as a first step. However, being buried in debt can be very overwhelming, which is why you may want to explore other options.

One of those options is professional, ongoing help with credit counselors. I've started to personally check out certain companies so I can recommend the ones that are worth considering!

If you would like to speak with a representative from a...

Click below to read more:
http://www.debtsmart.com/cgi-pl/go/030910_en.cgi?05&7428

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PAYOFF AND CLOSE ACCOUNTS?
by Scott Bilker

Scott, I heard you this morning on the radio and didn’t get a chance to call in. I had a quick question. Once I pay off my credit cards, does it help my credit to leave that account open, or should I close this account? Thanks. 
--Nathan

Click below to read article:
http://www.debtsmart.com/cgi-pl/go/030910_en.cgi?06&7428

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HOUSEHOLD MATH™

AVERAGE DAILY BALANCE
by Scott Bilker

Most banks calculate the amount of interest you owe using the average daily balance method. That method means adding up the outstanding balance each day in the month and taking an average. On day 1 in the month your balance is $5,000. On day 15 your payment of $2,000 is credited to your balance. The number of days in the month is 31. What is your average daily balance?

Click below to solve problem:
http://www.debtsmart.com/cgi-pl/go/030910_en.cgi?07&7428

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SURVEY: SPLITTING THE BILL
by Scott Bilker

I’m sure you’ve all gone out to dinner with friends and have been in the situation of splitting the bill. I usually charge it and the other party has given me the cash, thus giving me a no-fee cash advance on my credit card. However, it was just brought to my attention that the waitress can split the bill using your credit cards.

All parties on the tab simply hand in their credit card and the waitress divides the total by the number of credit cards and charges each by that that amount. I never knew about this.

Am I the last to know about the payment option for dining out?

Click below to take survey:
http://www.debtsmart.com/cgi-pl/go/030910_en.cgi?08&7428

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NEW OR USED CAR?
by Gary Foreman

Gary,

My partner and I are planning on purchasing a car. We have budgeted for it. He would like a station wagon and wants to buy it second-hand (at least 12 months old). I prefer a brand new car, especially with car price ranging from $14,000 on up these days.

I realize that new car value drops dramatically once we drive it off the car lot. But we will know from the start what's been going on with this car and can take good care of it, which you can never do with a used car. David is of the opinion that a good second hand car is more economical than a cheap new car.

He needs the car for work - commuting between different facilities.

This is a fairly big purchase for us and I very much would like to know what you think.

--Nancy

Click below to read article:
http://www.debtsmart.com/cgi-pl/go/030910_en.cgi?09&7428

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ALWAYS CHECK YOUR CREDIT REPORT
by Scott Bilker

I cannot stress enough the importance of periodically checking your credit report! Banks are not the only ones that look at this “financial résumé,” employers, insurance companies, and many other people will pass judgement on you based on your credit history.

You want to make sure that there are no errors in these reports...

Click below to read article:
http://www.debtsmart.com/cgi-pl/go/030910_en.cgi?10&7428

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WHAT'S IN YOUR TOOLBOX?
by Sarah Pond and Michael Angier

Think tools are just for carpenters and plumbers? Think again!

Everyone has a toolbox--or SHOULD have.

We each pick up tools that will help us survive as we move through our lives. Often unconsciously, we fill our own personal toolboxes with the tools that help us acquire what we need, build what we want, overcome our obstacles and find our way.

Lawyers have certain tools that help them research, analyze and express an argument clearly. Single moms use tools that help them stay on track, focused and balanced. CEO's use specific tools--as do entrepreneurs.

Whether you're aware of it or not, YOU have a...

Click below to read article:
http://www.debtsmart.com/cgi-pl/go/030910_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/030910_en.cgi?01&7428

Archive of DebtSmart® Email Newsletters online:
http://www.debtsmart.com/cgi-pl/go/030910_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/030910_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/030910_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 to 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.

Copyright © 2003 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.