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DEBTSMART® EMAIL NEWSLETTER
ISSN 1538-6740
October 22, 2003 Issue 62

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

==> I Saved $10,706.50

==> Debt Daredevil™

==> Household Math™: Minimum Payments

==> Lost Opportunities

==> DebtSmart® Help Center

==> Always check your credit report

==> 10 Things You Should Know About Credit Cards

==> DebtSmart® Resources

==> Subscribe/Unsubscribe/Disclaimer Information

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COOL QUOTE

“If money is your hope for independence you will never have it. The only real security that a man will have in this world is a reserve of knowledge, experience, and ability.”
--Henry Ford 1863-1947 American Industrialist

Click below for quotes from all previous newsletters:
http://www.debtsmart.com/cgi-pl/go/031022_en.cgi?04&7428

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LETTER FROM THE PUBLISHER
by Scott Bilker

Hi,

In this issue I’m going to introduce my comic-book alter ego, the Debt Daredevil™. Illustrated by Christopher Crammer, this debt super-hero appears many times in my latest book, “Talk Your Way Out of Credit Card Debt.” :)

Other items
1) The next email newsletter issue is going to be November 19th.

2) Holiday shopping is almost upon us. Keep your eyes out for possible gift items early because you may be able save time and money today.

3) Non-profit credit counselors are being investigated by the I.R.S. (see my article “Debt Daredevil™” in this email newsletter for more).

Have a DebtSmart day!

Regards,
Scott

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I SAVED $10,706.50
by Jill King, Philadelphia, PA

"I had to write and thank you so much for the book. I just got it yesterday afternoon and started reading it. This morning I decided to try it out on one of my cards that has a very high interest rate. This card had been only about 9.99%, but the interest rate skyrocketed last May and I didn't know why and I really didn't know what to do about it. I called the company this morning and in less then 5 minutes I found out why (I'd had trouble with another card issued by the same company) and got the interest rate lowered from 23.99% to 8.99%. One point lower than it had been before! This one call paid for the book and way more. I figured out how much I saved. It's a good thing I was sitting, because I'm sure I would have fallen on the floor when I realized I saved $10,706.50."

Click below to read more:
http://www.debtsmart.com/cgi-pl/go/031022_en.cgi?05&7428

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DEBT DAREDEVIL™
by Scott Bilker

Scott, I am new to your web site and find your tips informative. I am however, interested in your opinion of other financial wizards and their money management tactics, such as Suze Orman. She seems to be very conservative in her methods and you seem to be more on the risky side. There are also the Consumer Credit Counseling Services across the states that also lean on conservatism. How would you rate your methods in comparison to theirs? --Sherry

Click below to read article:
http://www.debtsmart.com/cgi-pl/go/031022_en.cgi?06&7428

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HOUSEHOLD MATH™

Minimum Payments
by Scott Bilker

Mary has a balance on her credit cards of $10,000.00. The interest rate on that debt is 9.99% APR. Her bank has a minimum payment policy of 2% of the balance or $15 (whichever is greater). If Mary makes minimum payments to this credit card, how long will it take her to repay the debt entirely?

Click below to solve problem:
http://www.debtsmart.com/cgi-pl/go/031022_en.cgi?07&7428

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LOST OPPORTUNITIES
by Gary Foreman

Sometimes it's helpful to take a concept out of it's original environment and see how it fits someplace else. Today we're going to examine an economic theory and see how it might apply to our personal lives.

The Economist website defines 'opportunity cost' as "The true cost of something is what you give up to get it. This includes not only the money spent in buying (or doing) the something, but also the economic benefits that you did without because you bought (or did) that particular something and thus can no long buy (or do) something else."

To put it simply, for everything you get, you give up...

Click below to read article:
http://www.debtsmart.com/cgi-pl/go/031022_en.cgi?08&7428

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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/031022_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 more:
http://www.debtsmart.com/cgi-pl/go/031022_en.cgi?10&7428

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10 THINGS YOU SHOULD KNOW ABOUT CREDIT CARDS
by Terry Rigg

Maybe these 10 items may answer some questions you have about using credit cards.

#1. Avoid using them. Credit cards accounted for 1.3 million Americans filing bankruptcy in 1998.

#2. If you use credit cards pay them off each month. Carrying a balance on your credit cards could add up to...

Click below to read article:
http://www.debtsmart.com/cgi-pl/go/031022_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/031022_en.cgi?01&7428

Archive of DebtSmart® Email Newsletters online:
http://www.debtsmart.com/cgi-pl/go/031022_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/031022_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/031022_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.