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Our
Featured Debt Relief Book Online:
Useful Personal Finance Websites
Listed below are a number of useful and extremely educational websites – both for debt reduction and
many other personal financial matters.
www.budget-sheet.com – Learn how to make a budget, free budget sheet and budgeting software.
www.best-debt-help.com – Got Debt? Learn how to get debt relief
with the top online debt consolidation services, Free Quotes!
www.homeloancrew – Affordable home equity and bill consolidation, or debt consolidation home loans, Free Quotes!
www.creditcardchick.com – credit cards for all credit types, good or bad credit we have the best credit card for you.
Best Debt Help
We can provide debt management help and advice on debt consolidation services. We can advise you on the best debt consolidation services for YOU.
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Care One Credit
has helped millions of people get out of debt. Consolidate your bills, lower your monthly payments, reduce interest rates and waive late fees. It's easy with Care One Credit
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My Budget Planner Budgeting Software
My Budget Planner is a very easy to use software program that you can download to your computer and use while online or offline. This terrific software is also available in Kids and Teens versions!
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Mvelopes
Traditionally, many people managed their money by dividing their cash into several paper envelopes. An envelope for food, entertainment, utilities etc. They then spent their money from these envelopes. They always knew how much money they had left to spend, and how long it had to last. Mvelopes Personal is a breakthrough in budgeting and spending management that modernizes this same envelope concept using advanced Internet technology. The Mvelopes Personal budgeting program is also a great system, allowing you to manage your budget online. Try it for FREE!
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Debt Relief Summary
When your debts are high and your monthly income is not enough to cover the payments, there are ways
to solve your debt problem. However, the road to financial recovery takes a total commitment. You must
decide that you want to be debt-free. You have to discipline yourself to take the necessary action to pay
back your debts. Only you can determine if you are willing to make the necessary sacrifices to achieve
this goal
Tips to Help You Live Debt-Free
Destroy Extra Credit Cards
You almost certainly need fewer credit cards than you now carry. Cut up unneeded cards. Closing
unneeded accounts will help you hold down spending and will save you a bundle on interest payments.
Up Your Payments
Credit card installment payments can be small. This reduces the immediate pain, but not the overall
expense. If you have a credit card with a $10,000 balance at a 20% interest rate, you're paying $2,000
per year in interest. That's money down the rabbit hole--and the credit card issuer thanks you.
Remember The Basics
Many people max out their credit cards because they consider it free money. It's a loan--and you've got
to pay it back, typically at a high interest rate. You won't master your debt until you learn this basic fact.
Rates Are Rising
Hitting yourself in the pocketbook with rising interest rates is no smarter than whacking yourself over the
head with a two-by-four. The Federal Reserve has raised interest rates five times since June and more
increases are expected. This generally raises the cost of consumer debt. So, if you're hurting now,
higher interest rates will increase the pain in the near future.
Consolidating Debt
If you're in hock up to your eyeballs, consolidating the debt may save money on interest payments.
Pencil it out. But, this is only the first step. Long-term, you've got to control your spending.
Stash Some Cash
Living from paycheck-to-paycheck is an invitation to a beheading--yours. Plan to have an emergency
fund that will cover your living expenses for at least three-to-six months. The amount will vary depending
on your financial circumstances and monthly expenses. For example, if you make $50,000 per year,
plan to sock away at least $12,500, or about three months' pay.
Compound Interest
Over time, you can build a hefty savings account with small steps. If you set aside $25 per week, that
comes to $1,300 a year, or $13,000 over 10 years--plus interest. Who can't set aside $25 a week?
Yikes, think what $100 a week would add up to.
Have a Budget
Compile a list of all monthly bills such as rent, utilities, car loan, gas and cable TV. Don't forget
groceries, entertainment and eating out. If your expenses exceed your net income, cut back
immediately. If not, look for ways to reduce your expenses. After you've drafted a budget, the real work
begins: sticking to it.
Keep Records
Keep a tally of all expenses. Accurate bookkeeping is vital to keep spending in line because it
underscores the importance of writing a budget and sticking to it. Ever wondered how much you spend
a month on gourmet coffee?
Plan For Retirement
Chances are you're not getting any younger. Cleaning up your credit-card expense will take care of the
present. It's also necessary to plan for the future by boosting contributions to your 401(k) plan. The
maximum contribution to such retirement plans has been increased to $14,000 this year and $18,000
per year if you're age 50 or older.
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