COOL QUOTE " O money, money, money. I'm not necessarily one of those who think thee holy, but I often stop to wonder how thou canst go out so fast when thou comest in so slowly."--Ogden Nash Quotes from all previous newsletters IN THIS ISSUE #172 Letter from the Publisher Cool Quote Cash-out to pay off cards or keep debt? DebtSmart® Recommended Products and Services Book Review: "Get Out Of Debt e-Book Package," by Cooper and Kellam STATISTICS: Record High Debt "Your books should be required reading..." Household Math(tm): How Much Spending How to control your spending FHA Mortgages to Save America's Homeowners 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. Debtors vs. Non-Debtors Nearly two-thirds of non-debtors say debt usually results from bad decisions, compared to 56 percent for those who carry debt. Once in debt, people seem to accept their circumstances. Americans with debt are much more likely to agree that debt is just a part of everyday life (80 percent vs. 60 percent for non-debtors). 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 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. 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: 11.99%. Discover® More Card Intro Rate: 0.00%, Time Period: 12 Months, APR: 10.99%. Credit Secrets Bible Step-by-step, easy-to-learn, easy-to-use insider consumer credit secrets than any other home study course on the market.

Hi,

Saving money on computer software can be a big winner! There is so much free software available. But which ones are best for your needs? I'll talk about many in the upcoming issues, but for now, I have to say my all-time favorite is OpenOffice.

This tops the list! It is an open-source office suite created by many users in collaboration with Sun Microsystems. It runs on every platform: Mac, Windows, Linux, etc. It's just like Microsoft Office in that it contains a presentation package, spreadsheet, word processor, HTML editor and more, like a complete drawing package nearly equivalent to CorelDRAW.

OpenOffice can also convert all Microsoft Office documents. Plus, it's not a hog with memory. It runs very smoothly. In fact, one time I received a Microsoft Powerpoint Presentation that was somehow corrupted. Neither I, nor the creator could open it with Powerpoint, but OpenOffice had no problem handling that PPT file.

I would love to drop MS Office completely, but I can't because I've created so much stuff using that package. However, I am phasing out its use because MS Office is sooo expensive, and OpenOffice contains the same functionality for free. My recommendation to anyone who is not locked into using MS Office is to drop it and start using OpenOffice. You can save OpenOffice files as MS Office files, so it's easy to work with anyone that uses MS Office.

You can download OpenOffice here.

Best,
Scott
PS: NEW READER COMMENTS--THANKS!!
"I like this site a lot. It is so helpful, and I've been searching for a site with info like this. We have a 46% debt to income ratio and must make a plan and change some things up now and the articles contained herein are so helpful. Thank you so very much!"--DebtSmart Reader

"Nice website, thanks for the helpful information & great articles."--DebtSmart Reader

Hi Scott,

I have a 30-year home mortgage and $14,000 in credit card debt. My mortgage has 28 years to go to pay off and is at 5.875 percent. My credit cards are at 3.99 percent for the lifetime of balance to 10.9 percent--all fixed rates. Should I refinance my home with cash-out to pay the credit cards off then freeze them? I'm 57 years old and earn approximately $26,000 per year salary. Any advice for me?

Lynda

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I've been featuring stories by Jill Cooper and Tawra Kellam at DebtSmart for a while now. Jill and Tawra are also the authors of many money-saving books. Their latest compilation is the Get Out of Debt e-book Package. Their strategies for getting out of debt are true methods for frugal living. They dig out of debt by cutting spending without cutting happiness.

I read through the package and found many useful tips that save time and money! Here's one of my food favorites: "Make double or triple the amount when you prepare main dishes. Freeze. Label with the name of the dish and cooking instructions. Later when you are too busy to cook, put in the Crockpot on low or set the timer for the oven to start dinner before you get home."

The Dig Out Of Debt e-Book Package Includes...

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Advertisement FHA MORTGAGE DIRECT FHAMortgageDirect was established to allow homeowners to start the FHA mortgage process online. With the recent turmoil in the mortgage and housing industry, the Federal Housing Administration (FHA) has stepped in with some new programs to help American's homeowners. As a direct lender licensed in 50 states, HUD approved, and Golden Eagle certified, we are FHA experts. We look forward to assisting you!

"My nose has been stuck in your books! Not since I read Victor Hugo have I carried a book everywhere I went, and I'm just now returning to the rest of the world, armed and ready for battle. (Your books should be required reading for anyone opening a credit account, if not a prerequisite for high-school graduation.) I'm about to call Discover to try to get a late fee canceled on my mother's account. Two months ago, she realized--just as the clerk rang up her transaction--that she'd gone over her limit by $6.00. She immediately drove to the nearby Sears and paid cash to bring her account below the limit, but--surprise!--Discover charged the overlimit fee anyway. Since she didn't realize this, her next minimum payment left the balance still over the limit, and she was charged another fee. I'm going to ask to have both fees waived (I'll be glad if they'll waive at least one), and, while I'm talking with Ms. Katy Didd, I'll also ask to have the interest rate reduced and the limit raised."

Thanks!
Anne

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

Jackie wanted to figure out how much money she actually spent in the current month. She looked at all the checks she wrote and her credit card spending. Jackie noted that she hadn't used her credit card for purchases, however, she did write checks for: (1) $50 for cable TV; (2) $125 for groceries; (3) electric bill for $200; and (4) a minimum payment on her credit card of $80. How much did Jackie spend this month?

Answer this problem

In order to control your unnecessary spending, it helps to understand why you spend. Spending money is often not the problem, it is often the symptom of something else. Let's take a look at three reasons people spend money and see if we can find ways to control them.

When I was in grad school, I was sitting in an accounting class one day, and Vicki, who sat in front of me, turned around and asked me how my day was going. I said 'Oh, fine, except that I spent way too much money this morning on cd's.'

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FHA mortgage programs are giving American homeowners an opportunity to refinance to low, 30-year fixed-rate mortgages amidst heavy guideline restrictions and worldwide credit tightening. The truth is, FHA programs have been existence since 1934, but profit-hungry mortgage companies preferred placing customers into higher margin, conventional mortgages.

On average, homeowners can expect a 30-year fixed-rate mortgage at 6.25% and 15 yr. fixed-rate mortgages at 5.75% with FHA mortgage products.

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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 website. 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 website 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 ©2008 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.