COOL QUOTE " A bank is a place where they lend you an umbrella in fair weather and ask for it back when it begins to rain."--Robert Frost Quotes from all previous newsletters IN THIS ISSUE #161 Letter from the Publisher Cool Quote Reading the fine print in those low-rate credit card offers DebtSmart® Recommended Products and Services 10 steps to improve your financial situation STATISTICS: Bad Jobs "He held the phone up to the shredder..." Household Math(tm): Is biweekly better? The top 10 destructive money beliefs DebtSmart® Column for your use in-print, ezine, or website DebtSmart® books and software, and other products Update Your Email Address, Subscribe, Unsubscribe, and Disclaimer Information Publisher: Scott Bilker Editor: Larissa S. Bilker Assistant Editor: Denise Troy ISSN 1538-6740 Advertising Information 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. Bad Jobs In 2005, nearly one-quarter (22.1 percent) of U.S. workers were in "bad jobs": jobs that paid less than the median wage in 1979 (in inflation-adjusted dollars), with no employer-based health insurance or retirement plan. The share of bad jobs in the U.S. economy has not changed in over a quarter century. Read more credit card and debt statistics DebtSmart® Recommended Discover® Platinum Wildlife Intro Rate: 0.00%, Time Period: 12 Months, APR: 10.99%. Advanta Platinum BusinessCard with Unlimited Rewards Intro Rate: 0.00%, Time Period: 16 Months, APR: 7.99%. Citi® Platinum Select® MasterCard Intro Rate: 0.00%, Time Period: Up to 12 Months, APR: As low as 8.49%. Blue from American Express® Intro Rate: 0.00%, Time Period: 15 Months, APR: 4.99% (for life on transferred balances). Stop Debt Collectors Cold! Stop Debt Collectors Cold! Plus, for a limited time, 4 bonus reports: (1) How to Get Collection Accounts Off Your Credit Report; (2) How to Avoid Losing Your Home In A Foreclosure; (3) What to Do if You Are Behind on Your Car Payments; and (4) Confidential Interview With A Former Debt Collector Advanta Life of Balance Platinum Card Intro Rate: 2.99%, Time Period: Until Paid Chase Platinum Visa® Intro Rate: 0.00%, Time Period: 12 Months, APR: 14.24%. Discover® Platinum Card Intro Rate: 0.00%, Time Period: 12 Months, APR: 10.99%. Credit Secrets Bible The Credit Secrets Bible contains more step-by-step, easy-to-learn, easy-to-use insider consumer credit secrets than any other home study course on the market.

Hi,

DebtSmart Street Team
Something that's really helped me get out of debt has been helping other people save money on their debts. Years before I wrote any books about the topic, I was sharing my ideas for winning the credit card game with friends and family. The more I shared, the more I learned, and the more I saved. You "reap what you sow" as is said, and it's true! Therefore, I want to invite you to join the DebtSmart Street Team. Our goal is to help our friends and family keep more of their money instead of sending it to the banks. It's easy to get involved.

Simply send an email to at least 10 people today and tell them about DebtSmart. Send them a link to the website and suggest that they sign up for the free email newsletter. Follow up by asking which articles they found interesting. Tell them about your favorite articles and what you've found that has helped you. Suggest that they take action today to negotiate lower rates with their banks. Please send the emails now. The more people become DebtSmart, the faster the banks will realize that we have the power to determine which banks profit and which should go bankrupt.

Opting Out
Are you tired of being called by telemarketers? Receiving unsolicited snail-mail about credit and insurance? Would it be nice if there were one place where you can opt-out of everything?

Well, there is! The World Privacy Forum has one web page with all the info you need to opt-out of dozens of annoying contacts. Check it out here.

Bank Questions Answered
Now, if there was only a place that can answer all your bank questions. Hmmm...of course there is. Last week, I ran across a webpage created by the Office of the Comptroller of the Currency (OCC) for help with your bank. It helps you find answers to your National Banking questions. Check it out here.

Election 2008
Can't decide whom to vote for? I found this online quiz that will help match you up with the perfect candidate--kind of like e-Harmony for politics. And, in case you're curious, the results for me were #1 Mitt Romney, #2 Bill Richardson. I guess I'm right down the middle. Take the quiz here.

New Reader Comment
"Very wonderful, I took a whole day and read the many interesting stories regarding lowering APR rates, and voila--32.2% down to 24% and 22% down to 16%. I should get two letters in the mail pretty soon. Thanks so much!!!"
--DebtSmart Reader

Best,
Scott

Taking advantage of low-rate offers is almost always a good idea. That's where the bulk of interest savings are found when you're managing your debt. However, there may be hidden costs that need to be uncovered before deciding to accept a seemingly good deal. It is imperative that you read through and understand the entire low-rate offer. That includes the letter, the back of the letter, and every bit of the fine print.

I want to talk about the details you can expect to find in those low-rate, credit card offer letters: the conditions that you need to consider to ensure you're going to get the better end of this offer. They are the details I always look at and note before jumping into any credit offer.

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Here are ten tips you can use to help improve your personal financial situation and inevitably save more money:

1. Pay Yourself Weekly This may seem a bit odd, but this is an excellent way to start building a substantial savings. On a weekly basis, pay yourself $25-$50 and immediately put it in a safe place. You can even open a special savings account where this weekly "payday" can be placed to help minimize or eliminate impulsive spending. Think about it this way, if you paid yourself $25 a week, in two years you'll have accumulated $2600 (not including interest)!!! That's almost $3000 from just putting $25 aside every week! Take advantage of this money-saving opportunity. Simple, yet very effective.

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"Your advice is turning into a family affair. My husband had an Orchard Bank card with a $300 limit, which he has had for two years. He called to protest their $69.00 annual fee, and they refused. Then he asked for a credit limit increase, which they also refused. Then he asked for a lower interest rate, and again they refused. We have paid this card off several times and always pay more than the minimum. He held the phone up to the shredder, asked if they could hear it--they said yes--and he shredded the card. Lo and behold, they called the next day and offered him a business platinum at 15% interest, but refused to increase the $300 limit. This time, my husband refused. He told them 'why should I give you 15% on this card when I already have 12% on the other card and that would be almost 30% on both cards!' Needless to say, we will pay this card off and not use it. Some other company will come along and offer him something better. We now feel that Orchard Bank is among the worst scam artists of all the card issuers. $69.00 fee on a $300 limit? I don't think so! Anyway, your good advice is rubbing off on all of us!"

--Sue and Ben Sheffler, Richmond Hill, GA

Read about special offer for all three of Scott Bilker's best-selling books

Here are two mortgages: (Loan 1) Standard mortgage for $166,792 at 6% for 30 years with monthly payments of $1,000.00 or (Loan 2) A biweekly mortgage for $166,792 at 6.1% for 25 years with biweekly payments (once every two weeks) of $500. Which mortgage is better? (Note: There are no prepayment penalties for either loan. Meaning that you can pay as much as you wish, at anytime, without penalty.)

Answer this problem

If you're not making as much money as you'd like, then you're holding onto some negative beliefs about yourself and how much money you're capable of handling.

In this article, we'll go through 10 of the most common (and most limiting) examples of how people hold themselves back financially.

Subscribers to my ezine, "The Abundant Mind," get a Money Beliefs Quiz. From their results, I've compiled these Top 10 Destructive Money Beliefs. How many can you relate to?

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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 ©2007 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.