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IN THIS ISSUE #141 |
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Publisher:
Scott Bilker |
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Editor:
Larissa S. Bilker |
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Assistant
Editor: Denise Troy |
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ISSN
1538-6740 |
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Consumers ages 20 to
29 carry an average $5,781 in revolving
debt--which includes credit card loans--a 24
percent rise from five years ago, adjusted for
inflation, according to an analysis by Experian
of the credit records of 3 million
twentysomethings for USA Today. |
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Letter from the Publisher
by Scott Bilker
Hi,
So here we are in 2007. I hope you had a great holiday season! Back
to the business of saving money, making money, and winning the financial
game!
Even though I focus mostly on debt management, I do receive many
email questions about investing. This is a viable option after debt has been repaid. However, you can still invest through
your IRA or 401(k).
There's a new Congress and they're taking action.
Action to raise the
minimum wage and enact spend-as-you-go budgeting, but the questions are: (1)
What does this mean for the economy? (2) What does this mean for me? (3)
How can I be on the winning side to make money instead of losing?
Tough questions.
My personal feeling is that, barring any major/new military action,
the economy, and specifically, the stock market will have a banner year.
You know that the real estate market has been starting to slip. That is
another factor that tells me that investors will turn to the stock
market to place their bets. And betting it is. Investing in the stock market is
gambling--betting on an uncertain outcome.
Of course, you do have to place your bets in life. Some are better than
others. And the stock market, this year, is a winner--at least that's my
opinion. If you're looking for a specific tip, I do have one. It's the
stock market itself! The symbol is
NYX--the New York Stock Exchange. In the short term, it's a risky
bet. However, in 20 years you have to ask yourself, will the New York
Stock Exchange be around? Will it be doing well? I think so.
How about Google or Yahoo? Maybe, but who knows. But I am certain
the NYSE (NYX)
will be here and doing just fine.
That's the first ever, stock tip at DebtSmart. Good luck to all who place
their bets with me.
The stock market is an okay place to gamble
(opposed to slot machines, that is). But the best, surest,
investment is in yourself! What I mean is that you should be thinking
about acting on your own business ideas. I'm sure you have some that
you've been mulling around in your mind for a while now. Try one. That's
where the big payoff is going to be. That's how to control your
financial destiny.
Best,
Scott
Saving for a down payment
by Scott BilkerScott,
How do you save money to buy a home
when you are swamped with credit card bills that just seem to suck every
last bit of savings?
Darryl
Darryl,
I know exactly how you feel, since I was
in that very same position at one time.
First of all, you need to be sure that
your credit card interest rates are as low as possible. By "low" I mean
below 9.9%. There are many excellent credit-card offers available from
numerous banks, which make the rates very competitive. Look through your
junk mail for credit line offers and read the details.
Finish Reading Article
"Thank you for saving my sanity" and other reader comments...
"Thanks to your book and website! We are
getting very close to getting all of our credit cards paid off. Your
organization provides a great service!"--Brenda
"Hi Scott, I opened your Talk Your Way
Out of Credit Card Debt, and called Capital One and got my 19.8%
reduced to 14.9%--thanks for your help!"--Joshua LeBeau
"Thank you for saving my sanity about a
year ago with your book. I have since done GREAT advances on my credit
cards. I found you before it was too late."--Eileen
"I wanted to say thanks to you--your
teachings have undoubtedly taken thousands of dollars out of the credit
card companies pockets and put the money into my pocket. I view this as
a grand thing."--Craig K.
"I found your website and am so glad I
did! I was feeling like an irresponsible person because of this debt
situation, but after reading some of your articles and questions from
other readers, I am starting to feel a bit better. Thanks and keep up the
good work!"--Raquel V.
"With one phone call to Citicards and a
minor threat of moving to a different card, they did not lower my
interest rate (14.5%) forever, but offered an introductory rate of
1.99% for nine months. You are correct about making the calls. Also a
good credit history helped."--Rush Kittle
"It is very informative. I looked at my
statement and realized I was paying 17.5% on my 5,700 credit card loan.
I found your site and followed your instructions. It worked. I received
their promotion for 5.2% for the first 6 months and then 11.5%. They
said to call back after 6 months to find out about any new promotions.
Thanks so much!"--Mark Picone
Read about special offer for all three of Scott Bilker's best-selling books
Household Math™: Cutting the budget
by Scott
BilkerSusan spends 30% of her
income on housing expenses, 30% repaying her credit card debts, 20% on
all taxes, 10% on groceries, 5% on clothing, and saves what's left over.
She decides that she wants to pay back her debt more quickly, and to do
that, she needs to make a few budget cuts. Susan cuts the grocery bill by
25%, the clothing spending in half, and dedicates all the money she used
to save toward the credit card debts. How much, by percentage, of her
income is now being used for repaying credit card debt?
Answer this problem
Stop Debt Collectors Cold!
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Stop Debt Collectors Cold! Plus, for a
limited time, 4 bonus reports: |
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--> How to Get Collection
Accounts Off Your Credit Report |
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--> How to Avoid Losing Your Home
In A Foreclosure |
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--> What to Do if You Are Behind
on Your Car Payments |
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--> Confidential Interview With A
Former Debt Collector |
Read about stopping debt collectors
Ten steps to solving any problem
by Dr. Jill
Ammon-Wexler
Any problem, no matter how complex, can
be solved if approached with a creative strategy. Here are ten steps to
getting your mind in an optimal problem-solving state.
Step 1. Start with Some Focused
Questions. The first step to unleashing your true problem-solving
potential is to ask yourself some very focused, challenging questions.
Here are some very powerful questions that will often do the trick:
"What am I really trying to do?" "How am
I trying to do it?" "What assumptions am I making?" "Could there be a
simpler, better way to accomplish this?" "If I were to start all over
again today - knowing what I now know - what would I do differently?"
Finish Reading Article
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!
The Credit Repair Kit plus bonus
CD!
by Joe Sainz
What do you
think of when you hear the words "credit
repair"? I think of scam! That's because
many companies have made promises to
"fix" people's credit but then simply stole
their money. However, there are still
reputable sources for people to learn
how to straighten out their credit
reports.
Your
credit report is your financial résumé
and everyone from lenders to insurance
agents reviews it. It's vital that there
are no mistakes shown, and if there are,
that they're removed!
There are
many books on the subject, but my
personal favorite is The Credit
Repair Kit. That's because Joe
Sainz offers great practical advise for
correcting errors. Plus, he includes a
Credit Booster CD-ROM with the
book!
If you're
having trouble getting the rates you
deserve because of your credit report,
then you must read this book!
Read more
about The Credit Repair Kit plus bonus
CD...
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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
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herein. However, there may be mistakes;
typographical, mathematical, or in
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always seek the proper professional
advice before taking any financial or
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Copyright ©2007 Press One Publishing. All rights
reserved. Please do not reprint, or host on your web site, without explicit
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