Tools for
financial success! A Free Email
Newsletter from DebtSmart Online and
Press One Publishing.
Letter from the Publisher by Scott Bilker
Hi,
Consumer
Action just released its 2006 handbook.
This everyday guide to being a smart
shopper is chock full of helpful tips
about buying a car or home, preventing
identity theft, understanding credit,
resolving problems after a purchase, and
much more. In the 2006 edition, you'll
find new information about Medicare
prescription drug plans, free credit
reports, and digital TV. You can get the
book free
here.
Money
magazine released its list of the best
jobs in America. This detailed list
includes salary information as well as
other statistical information about each
profession. Software Engineers top the
list with an $80,427 average salary and
10-year job growth forecast of 46.07
percent. You can see the list
here.
There is always much
advice about handling your debt. As
with everything in life, there are pros
and cons to each strategy. Picking the
right path depends on your personal
situation and, of course, careful
consideration of the costs. My feeling
is that the best choice is the smartest
financial choice. That means the least
expensive strategy. That said, let's
take a look at a few approaches to
dealing with debt.
"I spent
about 2 hours reading this book (Talk
Your Way Out of Credit Card Debt),
getting comfortable with the strategies.
Then, after my first phone call, which
saved me $210 per year, I was off and
running! I was able to reduce my
interest rate by as much as 9%. I called
all six of my Mastercard/Visa companies
and was able to save $1,983 per year
from the finance charges plus having a
$59.00 annual fee removed and a late fee
removed ($29.00). The $/hour saved
ranged from $141/hour to $2,464/hour and
averaged $1,334/hour. It was so easy!!"
Your auto
insurance bill arrives; it's $600.00 for
6 months of coverage, ugh. Luckily, to
make paying easier, they give you the
option of spreading this out over 3
monthly payments. The catch is they
charge you an additional "convenience"
fee of $3 per payment. The same day you
also receive a credit-line check offer
from one of your credit cards, with no
check fees, that is good for 3-months
with a 5.99% APR. What's better
(cheaper) to do? Should you
take the insurance
company's payment plan offer or use the
credit line (5.99% offer) check to pay
the car insurance in full for $600.00.
Technical Note: no matter which choice
you make, you must pay off the $600.00
principal in exactly 3 monthly payments.
Scott, first
I would like to thank you for all the
good advice you have given me through
your NEWSLETTER. In response to your
question about our (readers) experience
with telemarketers, I would like to
share an experience that happened to me
recently.
I, like
many others out there, am looking to
refinance my first mortgage at a lower
rate than what I currently have. In my
case, the loan is approximately $120,000
at 7.25% and also a second mortgage
(home-equity loan) of $10,000 that I
have at 12.25%. I decided to call a
financial institution after receiving
one of those infamous "you have been
pre-approved" offers.
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 check out certain companies personally so I can recommend the
ones that are worth considering!
If you would like to speak with a representative from a...
I was
reading a book to my kids this week
called "The Value of Saving". It was the
story of Benjamin Franklin. When Ben was
a little boy of around 8 years old, he
was already thinking of things to invent
that would save him time and money so he
would have more of both.
One day,
when he was walking along the sidewalk,
he found a penny that a rich man had
dropped. When he tried to give it back
to the man, the man said he was an
honest boy and could keep it. Do you
know what young Ben did with that penny?
He decided to save it so that when he
needed it for something important, he
would have it.
A new
baby—such a joyous occasion, and
expectant parents often enjoy the
process of planning for their arrival.
Decorating the nursery, filling the
closet with tiny outfits, stocking up on
diapers, and test driving strollers are
just a few of the things needed to be
done before the great event.
But all
these fun "to do" items can become very
expensive, and without a little planning,
new parents may find themselves buried
in credit card debt.
You can add DebtSmart® News RSS feeds to your newsreader pages. Note: RSS feeds are not a
replacement for the email newsletter but a fast method of finding out what's new
here at DebtSmart.com.
COOL QUOTE
"
What lies behind
us and what lies before us are small matters
compared to what lies within us."--Ralph
Waldo Emerson on Perseverance
Quotes from all previous
newsletters
Significant increases in
consumer bankruptcy filings occurred in every region. It
tallied 2,043,535 new filings in 2005, up 31.6 percent
from 1,552,967 in 2004--meaning that one in every 53
households filed bankruptcy petitions.
More credit, more options
Credit options are your weapon against the banks! The key to
success is using your credit lines to save money--not to go
crazy spending!
Blue from American Express®
Intro Rate: 0.00%,
Time Period: 15 Months,
APR: 3.99% (for life on transferred balances)
"CardRatings.com has been offering ratings
of credit cards since 1998 and has been featured by Good Morning
America, The Wall Street Journal, Consumer Reports®, NPR, PBS, etc.
Thanks to consumers like you, CardRatings.com has become the most
comprehensive free source for comparing credit card offers."
Stop Debt Collectors Cold! Plus four (4)
special reports! Finally, a solution for
dealing with these horrible collectors!
DISCLAIMER
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.
Subscribe FREE and start
finding new ways to save
money and pay off your debt.
"The DebtSmart Email
Newsletter is packed with
cutting-edge strategies for
solving credit problems. I
highly recommend it."--Gerri
Detweiler, radio host and
author of The
Ultimate Credit Handbook
