COOL QUOTE " The way to learn to do things is to do things. Success teaches how to succeed. Begin with determination to succeed, and the work is half done already." --Mark Twain Quotes from all previous newsletters IN THIS ISSUE #168 Letter from the Publisher Cool Quote Capital One's Brilliance DebtSmart® Recommended Products and Services Stop Eating Your Way Into Debt! The Ultimate Cheapskate STATISTICS: Number of Credit Obligations "Mission Complete!" Household Math(tm): House Painting Inherited Debts? 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. Number of Credit Obligations On average, today's consumer has a total of 13 credit obligations on record at a credit bureau. These include credit cards (such as department store charge cards, gas cards, or bank cards) and installment loans (auto loans, mortgage loans, student loans, etc.). Not included are savings and checking accounts (typically not reported to a credit bureau). Of these 13 credit obligations, 9 are likely to be credit cards and 4 are likely to be installment loans. Read more credit card and debt statistics DebtSmart® Recommended Discover® More 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%. 37 Days to Clean Credit How I Deleted 9 Inquiries, 5 Negative Accounts, 4 Major Default Accounts, 1 Judgment, and Boosted My Credit Score 135 Points In Only 37 Days! 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® More 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,

Let's talk jobs. Getting a high-paying job is the quickest way to earn more money. Yes, I know, easier said than done. Changing careers for the job may also be a good move. What about requirements? What about college?

Well, here are five high-paying jobs that don't require a bachelor's degree:

1. Dental Hygienist: $58,000. Requirement is an associate degree or certificate from a school accredited by the American Dental Association Commission of Dental Accreditation.

2. Fashion Designer: $55,000. Requirement is an associate degree in fashion design or fine arts.

3. Diagnostic Medical Sonographer: $52,000. Requirement is an associate degree that includes a background in anatomy, physics, and physiology.

4. Forensic Science Technician: $44,000. Requirement is that you MUST be a CSI fan--just joking. Okay, the requirement is an associate degree with a background in applied science or science-related technology.

5. Paralegal: $39,000. Requirements are an associate degree in paralegal studies. However, there are certification programs that can get you going in a few months.

The bottom line is, if you're interested, start looking into these fields today! Don't wait. Make more money!

Best,
Scott
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Scott,

I've been an avid reader and newsletter subscriber for some time now. I wanted to share with you a rather funny experience that I thought you'd appreciate.

Like all of Capital One's customers, I was hit with an interest rate hike from 9.9% (purchases and advances) to 15.4% and 22.9% respectively. I didn't see the 'notification' they sent in the mail (I assumed it was some sort of solicitation), so it caught me by surprise.

I contacted them and asked if they could adjust the rate back to what it was. My husband and I have perfect credit, never a day late and did carry a balance (we used the card for all purchases so we could get the frequent flyer miles but we never let the balance get out of control). Between the interest and the fee they got from the merchant, we were certainly a profitable customer. Although our history with Capital One was exceptional, they refused to budge on the rates and informed me that this was an 'ongoing trend' in the industry. No amount of reasoning (i.e. "Is it better to get 9.9% from a customer, plus merchant fees, or nothing?") would deter them from their position.

So, I contacted my other credit card company, AFBA (Five Star Bankcard). Not only did I get a credit line increase, but they also reduced my 8.9% interest rate (no frequent flyer miles, though) to a fixed rate (for both purchases and transfers) of 7.9% and no transfer fees. I kept the Cap One card...

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At this time of year, there are usually three things people are panicking about: how to lose weight, how to save money, and how to get organized. We have already touched on losing weight, so this week I would like to touch on saving money.

Hopefully, most of you realize that you can get into deep debt if you buy a house or a car you can't afford. That seems to be pretty obvious, although a lot of people do it anyway. But that is not what I want to deal with today. The Bible talks about the little foxes that spoil the vine. What that is talking about is the little things that sneak into our lives without us realizing it. They start picking away at the vines in our lives until it destroys us. One of those "little foxes" is eating out.

Eating out is among the top causes of personal debt. Most of us hunt for the best interest rates on our mortgages, and we complain about the awful price of gas the whole time we are pumping it.

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Jeff Yeager is the ultimate cheapskate, and the author of, The Ultimate Cheapskate's Road Map to True Riches: A Practical (and Fun) Guide to Enjoying Life More by Spending Less. Jeff is quite an incredible guy. He knows how to cut back on spending--bigtime! To save money, he'll filch almost anything, even airline barf bags. One great idea he talks about is a "fiscal fast" in which you don't spend money for one week. Now that's an awesome plan! You've got to wonder what would happen if you can do it. What will you learn about yourself and your spending? I'm going to give that a try. Check out his interview with Matt Lauer on Today.

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"Dear Scott, The other day I asked for your help in getting rid of a past-due charge and an overlimit charge, which came from the fact that I was past due. I hadn't got my statement and that caused me to be $75 in the hole. I didn't think I should have to pay that fee, and you agreed! You told me to explain it to whoever was on the phone, and if they didn't budge, I should ask for their supervisor. Of course, the first person said there was 'no way' these charges would be removed. So, I asked to speak with the supervisor, and a woman came on the phone. I explained my situation and that I was a loyal customer and didn't want to have to transfer my account and hoped she could help. Almost immediately she said she would remove "BOTH" the charges!!! Mission complete! Thanks for your help, Scott. I couldn't have done it without all the great pointers that you said to me before I went on the phone with them."

Thanks,
Ted Hammock, musician

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Dave and Jennifer just got married. They each have a little debt from student loans and decide to earn extra money on the weekends by painting. If it takes Dave 15 hours to paint a house, and it takes Jennifer 10 hours to paint the same house, how long will it take if they both worked on it together?

Answer this problem

Gary,

I've heard that when parents are in debt and they die, the debts are left to the children to pay off. Is this true?

My parents had gotten a divorce a few years ago. My mom is doing well because she is a saving queen. My dad had remarried two years ago. His wife does not work but loves to spend money. So now they have a $20,000 debt.

If my father dies, his wife is responsible for the debt, right? What happens after she dies and there is still that debt?

Also, what happens if she dies first, and then my father--who gets the debt?

Judy

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