The Consumer Protection Bureau reported that Sallie Mae is number 1 in the list of the most complained company for student loans. Among the problems encountered are: not being able to speak with anyone in the company who can negotiate a repayment plan when the borrowers are unemployed or experiencing financial hardship.
Many student loan borrowers are also frustrated in not being able to refinance at such low rates that presently exist. And when there are ads regarding repayment plans, they are not able to access them. Even when they make partial payments for as much as 50% of their income, these good faith payments still led to default and delinquency.
These naturally worry them that the defaulted loans will become due in full. They also feel bad that some encourage them to send payment on what they can afford without letting them know that this action could lead to default. Then there is also the problem of the debt collectors claiming the authority to grab Social Security checks and garnish the earnings without court order.
There is also the worry that when the main student loan borrower dies, the process to handle this scenario is not clear. Some lenders also charge them forbearance fees to show they are having a difficult time financially. These people are already having a hard time. Why push them any further?
Such are the problems that exist which the student loan borrowers face when they try to settle their account. Up to now the problem has not been solved because there are those who probably want to make a living out of this and this sickens me to no end. Can this problem be solved? We just have to keep trying, won’t we? It is possible by arming ourselves with the right ammunition by learning as much as possible on this issue.
We can’t just suffer in silence so we can keep telling the world the unfairness that is going on and perhaps, some will find it in their hearts to cut the students some slack and help them out. I know I have been trying to look around. I found this one that might help from someone who is an insider in the debt collection business.
Here’s what the creator of The Student Loan Blue Print promises to deliver to you:
The complete authoritative reference on defaulted Student Loans which will save you hundreds if not thousands in collection fees.
You get a detailed blueprint for every phase of the defaulted student loan… even if you can’t spell “no statute of limitation”, you’ll quickly learn how to solve all your student loan problems.
“Insider Secret” from me, the Rogue Federal Student Loan Collector – which will save you the extortion collection fees and get a reduction.
How to use the insider knowledge against the collection companies.
Here are two of the RAVE REVIEWS!
“I followed The Student Loan Blue print exactly to a tee. The results were awesome. I just received my first tax return in over 4 years. Not to mention I settled out on my student loan for LESS” Ryan Paine Phoenix, AZ
“I just graduated and tried to find the job of my dreams. It wasn’t as easy as everyone said. I tried so hard but no one would hire me! After 6 months my deferment finally ran out, and it wasn't till 11 months after graduation that I was able to find a job. Once I started to work I was told I would be garnished. It was so embarrassing! I didn't know what to do until I found The Student Loan Blue Print. Not only did I stop the garnishment, I was able to fix my credit, and now I am going back to school to earn my masters degree. I even qualified for a new loan!” Jasmine Smith Queens, NY
Then best of all if for any reason you’re not completely happy, you are protected by a… Full 60 Day Guarantee.
This is the deal: simply order the course. Give it a shot. Within 60 days show us how you tried to make it work, and if for any reason whatsoever you could not… then you get back every single dime. Here is the link again: The Student Loan Blue Print
This looks ridiculous and sounds fishy to me and affected me so much I just had to write about it again. It feels like the government is helping the debt collectors due to a loophole in Missouri. Don't worry because the Missouri Supreme Court has a new ruling that may stop this practice. You see the bank got a letter so they won't be prosecuted for whatever they mention in the court.
This granted the debtors "use Immunity". This letter is common in debt cases where the Missouri law can allow that kind of immunity for the examination of the debtors' assets and so the circuit judge ordered the debtors to reveal all. Thank goodness the Supreme Court overruled this.
What happened to the Missouri constitution's Bill of Rights that declares "no person shall be imprisoned for debt, except for nonpayment of fines and penalties imposed by law”? You see in this case the debtors were set up and could have been made to pay all the debts to avoid going to jail. So perhaps, the Supreme Court had this in mind when they overruled the circuit court.
Imagine that, how low will they stoop down just to punish people? Don't worry though for just because it has happened a few times does not mean it will go unnoticed. The Supreme Court overruled the circuit court. The Bill of Rights in the Missouri constitution says that nobody can be imprisoned for debt but they found a loophole around this.
When the debtors are sued and are asked to appear in court and don't come, the creditors after winning a judgement against the consumer could ask the court to schedule a hearing to check on the latter's assets and bank accounts. When the debtor does not show in court the creditors ask the court for a body attachment to arrest and hold him for a court hearing.
If the debtor does not show in court for the hearing, he is then arrested. The bond is set at the full amount owed. So he is not really arrested for non payment of debt but for not appearing in court. Regardless, the result would be the same. Thank goodness the Missouri Supreme Court ruling may put a stop to this practice.
A Student Loan Debt Should Not Break a Relationship
It’s true debt should not be a reason to break up a relationship. What should break a relationship is irresponsible behavior and that Peter Pan syndrome. It does not matter if the person has debt if he is working hard and is working out solutions to the problem. What a person in debt should not be doing is thinking of getting more in debt instead of trying hard to get a job
5 Reasons People Fight About Money—And How to Stop
One reason for fights about money is arguing about it when talking about it once a month without focusing on the past but on what can be done to see realistically the financial situation would be better. Only then can they solve the problem as a team.
Another problem is when the stay-at-home mom gets an allowance and has to stick to it and she does not know what they have as the husband is sole owner of accounts and so on. Mom should demand to be co-owner and if there’s a problem, both should work it out together.
Keeping a secret from each other is also a reason for fighting over money. Lies destroy a relationship and should have no room in a marriage. Be accountable from now on. Another reason is following in lock step as in not maximizing retirement savings and instead paying to reduce the mortgage.
This may not be right for both depending on circumstances. The last reason could be focusing on the perfect budget and not on talking about it the proper way addressing what could be wrong and how best to meet the challenges.
I really like what I found for you today because it is about buying things for less. I am all for anything that will help our bottom line and there are six ways to do this instead of having to go out and get another job or spend less. First is to ask and you shall receive. Come on, don’t be shy and end up paying full price.
Then, make it your job to save on everything by looking for coupons and bargains. You can also shop consignment and save for there are practically new stuff that you can buy at the fraction of the cost or if you go to affluent areas, you might find something that were never used at all. You can also buy at Ebay and Craigslist. If you are a senior or a student, ask for a discount. Be patient and you will be rewarded. Go click the title above and get the details.
This is what I wrote to New York Times after reading about the crushing college debt: I am glad The Times is publishing this series for it is about time that we face this and get a solution. We do not want the students to protest the high cost of college in an unruly manner due to the frustration of not getting any help. But no one can really blame them for fighting back and taking action.
You have real live examples in this post like that of Cherild Diaz who has watered down her hope in getting to a dream school. Then there are others who are even deciding to skip college altogether. Is this what we want for our future citizens?
Why don’t we give them a break with the Student Loan Forgiveness Act of 2012, introduced by Representative Hansen Clarke, a Democrat from Michigan? We’ve thrown a safety net to big banks so why not do the same for the future of the country?
Your China Cabinet alone is a treasure chest. When you got married you probably chose a pattern for your fine china. If you are like me the bone china plate I bought for a hundred dollars many moons ago is probably worth double what I paid for it especially the company that manufactured it retired it.
Return that sweater you bought sometime ago that somehow didn’t look right when you got home. Then if you are ready to get a new fridge, get one that is energy star–rated for that will use 20 percent less energy. Don’t throw away your old iPod and other electronics as they may fetch more money than you think. All these will help you find more money.
Produced by entrepreneurial blog Geekpreneur (www.geekpreneur.com), creators of the popular Geek's Guide to Twitter, the book covers methods as varied as TwitPitching, app-building, trend-spotting and affiliate selling, and is filled with practical ideas for everyone. Illustrated with case-studies and proven examples, 99 Ways to Make Money with Twitter reveals how individuals and businesses are using microblogging to build brands, land sales and win new customers. Each chapter explains where to start and how to do it, and even provides a real-life commercial model to copy.
There are more ways to find money around the house so please click the above title “Find $285 Under the Couch” and you should be able to read the whole story if the news provider has not taken it down yet.
Eat well and at the same time, save your money. You can make a better pizza at home and probably cook it better and more nutritious too. The person who wrote the original copy of the article learned his lesson when he was served by an acclaimed pizza place in Manhattan worth $15 which he said is probably four times what the ingredients would cost in a super market.
He said preparing a pizza takes three things: confidence which you will have to develop if you are like me, practice which has to be done correctly so it can be perfect, and lastly the food processor which you have to be friends with as you will use it to make the dough in five minutes.
There is a video you can see on the pizza preparation, so please click the above title “For Chefs at Home, a Pie Above the Rest” and you should be able to read the whole story if the news provider has not taken it down yet.
They say interest rates are going up so let us start making an escape plan. It is true that it may not have increased yet but anytime there are plans for such a scenario, let us have our own plans of escape ourselves. The first thing we should address is the line of credit. The next is the floating rate loans before the increase in interest rate. Why? Because every time there is a rate increase, the major banks will follow suit.
If you are thinking of buying a home, then fixed-rate mortgages are the way to go. The variable rate will rise in tandem with the interest rate. Anyway, the fixed rate are still attractive. Don’t be complacent with this issue as most will not be able to afford the higher rates.
Get in the know to protect yourself, so please click the above title “Start Planning Your Rising Interest Rate Escape Plan” and you should be able to read the whole story if the news provider has not taken it down yet.
It is a good thing the FTC is cracking down on the debt collectors who scam the supposed debtors. More and more fake collectors are calling from overseas. One even threatened somebody that she is only thirty minutes away from being arrested for the police car is on its way. She was told to pay $300 right away to prevent from being arrested, the nerve!
But Kirit Patel, who outsourced the fake calls to a center in India, was arrested after adding more money into his $5.2 million bank account. The district court closed down Patel’s two companies based in California temporarily. Why temporarily, I don’t understand. He should be put in jail along with all his cronies for making such terrifying phone calls that violate the Fair Debt Collection Act and the FTC Act.
Get in the know to protect yourself, so please click the above title “Debt Collection Scam Made Threats, Extorted Money, Charges FTC” and you should be able to read the whole story if the news provider has not taken it down yet.
Someone said anyone can retire a millionaire because the secret is it’s all in your head, in your attitude and state of mind. There are tips on how you can control your mind so you can retire a millionaire. The best tip is that becoming a millionaire is not about money so you don’t have to spend time studying the economy. Here are some more:
Stop doing what you hate and instead do what you love. Being positive will also make you achieve what you want more than the opposite. Think differently because that is how you will find the real you. Live with passion and invest in yourself. If you know what you want, do that and live in the moment each day to the fullest. Then give back and make a difference to make this world a better place.
You will love reading this article as I did, so please click the above title “10 Secrets To Being A Millionaire And Enjoying It” and you should be able to read it if the news provider has not taken it down yet.
Although I am not a fan of automation (I still believe in talking to people directly) still with finances we need all the help we can get. An excellent example of this is the 401 (k) where the employer automatically deducts some percentage of your salary and puts it in the 401(k). I know of some people who have accumulated $179,000 due to this program.
It is so easy to automate some of our financial dealings saving us money in the process. Because even if you’re late one day in paying your credit card for example, you could be penalized $38, the last time I checked. So I am on automatic balance pay on my credit cards. You can also automate the paying of all your bills with the use of credit cards that give you a cash back. You can also make saving for an emergency fund, retirement investing, saving to buy a home, saving for a wedding automatic. If you need help on this, just let me know.
You can even automate your tax preparation. Last year was the first time I used Turbo Tax and it was a snap. This year will even be better because it has a built-in feature to import the tax info of the previous year’s directly into this year’s taxes. The tax forms you need can be downloaded directly too.
You will love reading this article as I did, so please click the above title “5 Ways To Automate Your Finances” above and you should be able to read it if the news provider has not taken it down yet.
Here are six different tax credits that could put serious cash into your pocket:
1. Residential Energy Credits - The credit for installing double paned windows for example have gone down from 30% to 10% and now there is a lifetime limit on these credits. But check with your state and local governments to see if they offer any additional credits. By the way, be careful about sealing up your home too tightly as there have been reports of people getting sick from the fumes that are trapped indoors.
2. The Child Tax Credit - This is non-refundable yet comes with an additional tax credit which is refundable. The credit is worth up to $1000 per child but is only refundable up to 15% the amount of earned income.
3. Adoption credits - are refundable and worth up to $13,360 per child and your employer may pay the same amount. There are other benefits that you can get from the IRS.
4. Education credits come into two forms: refundable and non-refundable subject to income limits.
5. Credits for Retirement Savers - The credit is worth $1000 for retirement contributions of up to $2000. The trouble is if you don’t have enough taxes to use the credit, you may not qualify for it.
6. Alas there is no longer credit for hybrid cars but these credits are just some of the ones available. Find more at IRS website or Google “irs.gov business credits”.
You will love reading this article as I did, so please click the above title “Tax Credits You Won’t Want To Miss” above and you should be able to read it if the news provider has not taken it down yet.
While it is better to be debt-free, there are times when borrowing money is a legitimate option, but there is one debt that all of us owe our neighbours. In fact apostle Paul said, not to owe anything to anybody except for your own obligation to love one another. It is our ongoing debt and when we do love our neighbour we obey God’s law. I can’t put a lot here but read the full article and you will be satisfied.
You will love reading this article as I did, so please click the above title “Debt” and you should be able to read it if the news provider has not taken it down yet.
Here we go again with some tips to save money. I don’t get tired learning more ways to keep money in our pocket though, rather than getting concerned about not having enough money to pay the bills. Some of them you probably know for I have been writing about them since Day One. So fasten your seat belts for here we go.
1. Use the right credit card.
I know we should not use credit cards but sometimes they are a necessary evil. They are okay to use as long as you can pay off the balance when the bill comes along. But pick the right card that will give you good cash back. My card now is AAA card from Bank of America that gives three points for every dollar I spend. You can easily find the the right credit card
to easily save $500 a year from this.
2. Find the right cable provider.
Comcast has what they call triple play in internet, telephone and cable for $100. Before it expires, call to say you are going to switch to another company if they don’t renew it.
3. Keep the old car instead of buying a new one.
This can easily save you $5000 from taxes, gasoline, insurance and depreciation.
4. Use coupons.
You can clip them from the newspapers or surf the net to find the coupons if you think ahead of what you need to buy. From entertainment to dining in restaurants, coupons are there for the taking and can save you around $1000 a year.
5. Save on travels.
You can easily get hotel rates at 40% off the regular price. Do the math and you will find 20 nights at a hotel with $50 a night savings will net you $1000 a year.
6. Check your insurance rates.
You can easily get a cheaper one but make sure the company you change to is stable and that they have good customer service. This could easily save you $500 a year.
7. Do online shopping.
Browse the brick and mortar stores for what you want to buy. Then look them up on the web to get some savings and you don't have to pay tax. From cell phones and gift cards you can buy at Amazon where you can compare prices before you buy and save at least $700 a year.
8. Buy knockoffs.
The author saved a lot of money from buying cartridge for his printer at eBay.
9. Make your money work hard for you.
Put them where they will earn you money like at Ing Direct where they will even give you $25 for opening an account.
10. When something goes wrong, complain well.
If someone promised you something and didn‘t deliver, by all means complain about it. Make a record of your contact with the company, the time and the name of the person you talk to and the issues covered. Remember you are not cheap; you just want value for your money.
You will love reading this article as I did, so please click the above title “Save Money Every Day: Ten Painless Tricks” above and you should be able to read it if the news provider has not taken it down yet.
Here’s a good article that says our financial failure is due to the enemy we have inside us and that’s the DNA of financial trouble. Usually it lies dormant but wakes up when stimulated by greed. The desire for money lives within us and unfortunately some do anything at the expense of others and this leaves no room for faith.
So that is what happened, we hid behind such masks as “we have to make a living” and “I have to profit from this“. When a neighbour needs money, the evil one lends him some for a profit. A little bit may be okay but not to the point of holding the neighbour hostage to his debt. That is being an unchristian way of doing it.
Let us therefore keep our minds open to what he is happening around us and get off that bus that is leading to financial misery. We do not have to enslave ourselves to the debt and bondage existing all around us. We do not have to fall deeper into this bondage. You will love reading this article as I did, please click the above title “Debt, Death, and Taxes” and you should be able to read it if the news provider has not taken it down yet.
The first thing to do is to have some goals because those who are most successful at this are those with goals. Make the goal specific rather than general like saving for the future. Instead, make the goal saving for an emergency or something like that. The next thing to do is create a plan of action like paying off the credit card remembering that no one can save and amass debt at the same time.
Then make the savings automatic. Ingdirect.com is my favourite way to save. They have a system where you can save automatically and they pay higher interest with no minimum balance required. They now have checking accounts and a way to deposit cheque directly. While you do try to get out of debt, make sure you watch what you spend your money on.
This article I am sharing with you has a cool way to save and avoid debt. With every cup of coffee, piece of cake and cigarettes you buy, put away the same amount in a cookie jar. If you can’t come up with the matching amount, then you can’t afford to indulge. Putting away a dollar a day will net you $365 a year.
If you want to read the complete article on how to save, please click the above title “7 Tips to Savings Bliss” above and you should be able to read it if the news provider has not taken it down yet.
There are two sides on the question whether to hire a tax pro or not. There are a lot of free advice and discussion forums but let us check out what it cost some who did not contact and discuss their situation with a tax pro. S-corp rules could be confusing. Nowadays, without a payroll set up for 2011, one could be in for an audit. And if the payroll is set up now, there will be penalties and interest for late filing.
How about a home buyer tax credit? If you received this and decided to rent it out because you want to rent an apartment close to where you work, not talking to a tax pro in advance will cost you. The tax credit has to be repaid and the 2010 tax return amended and will cost more in penalties and interest on the credit repayment.
If you are curious as to whether to hire a tax pro or not, click the title “The Pros and Cons of Hiring a Tax Pro” above and you should be able to read it if the news provider has not taken it down yet.
The interest rates on our cash accounts are so low we are losing the purchasing power of money. What is one to do?
On savings accounts and CDs, we could diversify with stocks that pay dividends, bonds that are either investment grade or linked to inflation.
There is some good news for credit card holders. The banks are now not allowed to raise the interest rates at will and they are to notify the credit card holders one a half months before the increase. Still, there is no telling how high the rates can go. And the credit history means more now that the gap between the rates for the good and bad credit has widened.
If you are thinking of buying a new car because of the low interest rates, bear in mind that the car dealer’s interest rate is much higher. Some sign up for the sake of convenience . But shop around for lower rates as they may be way better than the dealer’s offer.
As for mortgages, if you’re thinking of refinancing, experts say you should at least cut off two percent from the current rate to make it advisable. Then we have to factor in the cost of the mortgage insurance that has gone up. The best thing to do is to obtain a good faith estimate from the lender who is required to give it to you and the total monthly payment. Then find out how much you’re going to save each month.
If you are curious to know how to survive the low interest rates, click the title “Key Moves for Surviving Low Interest Rates” above and you should be able to read it if the news provider has not taken it down yet.
Most of the $798 billion debts that the Federal Reserve said the Americans have are mostly on credit card. This can destroy the family’s finances because of the high interest involved and limiting the options when emergencies come around. Besides saving for a home, retirement or a child’s education is in jeopardy because funds are going to credit card payments. This is not to mention that your credit score will be affected.
The good news is you can get rid of the credit card debt by doing the following:
1. Stop using the credit cards.
2. Reduce the credit card interest rates by calling the credit company and asking for a lower rate. A study showed that more than 50% of those who called reduced their rate by about one-third.
4. Get extra cash by finding hidden savings. The are links on how to find hidden savings in the bottom of this page.
5. Avoid these mistakes: Stay on track and don’t be unrealistic on your approach. Borrowing from the 401K should be a last resort. Why? If you leave your job, you will have to pay the loan or IRS will charge you a 10% penalty if you are below retirement age. Besides, it will affect your retirement . Another mistake is not saving the maximum for 401K when the employer matches your contribution. The last mistake you could make is to give up.
If you are curious to know how to do this click the title “How to Crush Your Credit Card Debt Once And For All” above and you should be able to read it if the news provider has not taken it down yet.
When you pay with credit card, some restaurants charge a default tip of 20% instead of the 15% we are used to pay. In this economy some people are inclined to resent it. Some restaurants believe that that setting the automatic prompt for the 20% tip in their handheld
terminals is justified for the excellent service they provide. Not! (at least to some).
I think that’s being presumptuous, don’t you think? There will be negative feedbacks, I am sure. Worst for the restaurant if we change our habit of eating out every day. That said, most restaurants leave it to the diners to tip less or high depending if the service warrants it.
If you are curious and want to know which restaurants were mentioned just click the title “Is the New Restaurant Tipping Now 20%?” above and you should be able to read it if the news provider has not taken it down yet.
Going to college without going broke is something people desire so it is important to know what to expect on this first day. Knowing what to do may set the stage for making sure everything is fine and you can set the stage to do something about your life and make the necessary steps to circumvent any negative factor that may appear.
The first day is the same whether you go to college the first time or you’re in grad school. It really is just an introduction to the course and what it is all about. The introduction comes in different ways. Some professors will take time to get to know each other by having each one introduce himself, the name the year you’re in, your major and why you’re here.
Other professors will just go about the business and start with the very first lecture. The syllabus will be introduced, either with the professor reading it, drawing attention to salient points. Others may invite discussion while others may just distribute the syllabus and dismiss the class early. However it is done, you should read it carefully so that after digesting it, you can then relax and turn your attention to how to save money while you’re in college.
You can get the full report if you click the above title especially if you want to find out the details on what to do in college. You should be able to read the full report if the news provider has not taken it down yet.
We hear a lot of stories as to the things that are wrong with the stock market. But here are some reasons why the stock market may go up in the US.
1. Stocks are cheap and are selling below their value. Consumers are buying goods despite the bad economy, the US manufacturing has expanded and the emerging markets are strengthening.
2- The crisis in Europe does not have to lead to a global financial crisis.
3. The US is not a bad place for investors to park their money in. It is the best among the bad.
4. The election year favours gains. From the statistics that have been compiled since 1900, the fourth year of the presidential cycle is second best for stocks and with the administration hell bent on stimulating the economy, the stock market is scheduled to follow suit.
5. Corporate earnings report are strong and so is the outlook for profitability.
6. The trend can’t last ad infinitum. Worries and fears will pass and investors get back to pick stocks.
7. China will still be strong and will not be affected that much by what is happening in Europe.
8. Historically, stocks are poised to go up.
9. The auto and housing markets are recovering.
10. The volatility was caused by unusual factors like the debt crisis, the political problem in the US, the earthquake and tsunami in Japan and soon the uncertainties will fade away.
You can get the full report if you click the above title especially if you want to find out the details on why the stocks may rise in 2012. You should be able to read the full report if the news provider has not taken it down yet.
1. The first thing to do to make sure you earn money from your blog is to find out if there is a market for the blog topic. Then ask yourself what kind of commitment you have for this blog.
2. There are a lot of tools at your finger tips online but use the right tools. To help you make money, use these tools: Facebook, Twitter, You Tube, Google Reader, Google Analytics, Google Webmaster, Google’s Page Speed and so on. If your blog is just for fun, you can use free blogger and word press or just use Facebook but to make more money with it, you have to have your own domain.
If you want to make money online as an affiliate, you have your own domain and proper hosting with a company that is reputable like Site Build It
which includes domain registration and now has buy one get one free or at Bluehost where you can get a free domain registration. An autoresponder service is essential, too and there is none better than http://www.aweber.com
3. The third thing one needs to do is to be social, get connected with people. Respond to comments on your blog. Get connected to others through Facebook, Twitter and other social network. Leave comments on the other blogs related to yours. This is the way you build your credibility and your business.
4. You can‘t just blog once and leave it. No, you have to blog often. You may not have the time but you can easily outsource this by hiring freelancers or using the PLR that you are accumulating in your hard drive. Check for broken links for they will turn the search engine and the readers off with this broken link checker.
5. Plan what you have to do to make your blog a success and work your plan. Create a schedule of the work you have to do and stay on track..
You can get the full report if you click the above title especially if you want to find out the details on how to earn money from blogging. You should be able to read the full report if the news provider has not taken it down yet.
Age-Old Financial Advice: Things You Should Not Do With Your Money
There are things you should not do with your money at every age level. I know there are reports out there on what to do with your money but we will do it differently and instead focus on what not to do. After all we learned a few things from the financial fiasco we faced.
In your 20s, you should not buy a car. You’re either still at school or starting at a new job. If you buy a new car you’ll find yourself surrounded by bills for car payments, maintenance and gasoline. Instead, use the public transportation or buddy up with friends to carpool. Or move closer to the job so you can walk or bike to work.
In your 30s, don’t spend lots of money for your wedding. The bills will haunt you later when you don’t have a down payment for a home. Elope or just have a simple wedding. In your 40s, don’t withdraw from your 401K for any reason. You should not borrow from it either to pay for a new kitchen; trust me it will take years off your savings.
In your 50s, don’t use your retirement fund to send your kids to college. It makes better sense for them to borrow the money themselves that do not have to be paid until they graduate. At that time, when you find yourself with extra cash, you can help them pay their college bills.
5 Ways to Get Through College Without Debt (and a Scholarship Offer)
Here is a man who went to college and he graduated with minimal debt. One of his life goals was to help his kids finish college debt free. He knew he had to plan early to save and so opened 529 plans to put away money there for their college education.
Meantime he wants others to know the five ways to minimize debts while in school. One is to choose school wisely and to try a two-year degree first at a local college. Working while in school is also a good idea and to graduate early, take courses during the summer. Another way is to take a year off after high school to gain maturity and at the same time work to save for college.
You can get the full report if you click the above title especially if you want to find out his scholarship offer. You should be able to read the full report if the news provider has not taken it down yet.
Debt Diva: One Blogger’s True Story of Facing Reality and Paying Down Debt
Here’s a lady who finally took the debt matters in her own hands after hitting an emergency situation. After her father died leaving gambling debts and the care of her sick mother, she realized she had to pull up her socks and pay down her debts of over $60,000, $12,000 of which was from her credit card debt.
She tried paying off her debt before but she would find something nice she wanted to buy and then her effort went for naught. It was a cycle she could not shake off so she started reading the financial blogs and was lucky to have found a personal finance coach for a few months and now she is on track.
The full report is here if you want to read it. Just click the title above on "Debt Diva: One Blogger’s True Story" and you should be able to read the full report if the service provider has not taken it down yet.
If you are in the same boat as this debt diva, perhaps you need some financial coaching. Currently I’m booked with clients through the end of the year and January, but when spots open up I will let you know about it. You see this is only available to 10 clients at a time. Just leave your name and number at the contact form here; Just go to the contact form and write there that you are interested financial coaching.
Not everyone has the same way of saving money. Setting an amount to save will not work for all. The way people think about saving affects how successful they are in reaching their goal. Some are abstract thinkers and focus on why they have to save while others are concrete thinkers and focus on the how to save.
What researchers say is that those who focus on the why, save more when they set a specific amount to save while the opposite is true with the concrete thinkers. Researchers found that those who focus on both the amount to save and the how become so overwhelmed that they quit saving. If you want to read the full coverage, click that title and you should be able to read the full report if the news provider kept it on.
The solution? Those who focus on how should not set a specific amount to save and just go ahead to save as much as he can. This is a new way to go because previously the findings from the older studies is that it is better to set a specific amount to save. It is true what someone said that it matters not how much money you earn; what is more important is how much you save.
All in all those who saved more are the ones who set a specific amount to save and thought of why they were saving are the most successful savers. So once you know what kind of thinker you are regarding saving, take a look at your expenses, scrutinize them and see where you can make some adjustment. Some can save a lot of money by changing some habits like eating out less and lowering the latte consumption and finding better deals with cable company and other stuff.
How low can one get? Some debt collectors who work on behalf of major banks are now trying to collect the debts of the deceased from the spouse and kids. Some even send condolence cards which really are collection letters. What all must remember is that spouses who did not co-sign the loan and the kids are not responsible for the debts of their dearly departed beloved.
Here’s a guide that among others things will show you how to reply to debt collectors and collection attorneys in writing to avoid a court case, understand the different sources of debt collection so you can deal with them accordingly, be ready for the lies and deception the debt collectors may use against you and the best practices in dealing with debt collectors and collection attorneys.
The debt collectors even argue with those left behind that it is their moral obligation to pay up the debt. If you want to read the full coverage, click that title and you should be able to read the full report if the news provider kept it on.
It will take discipline but if you will commit to this you will get out of the debt cycle sooner than you expect.. There will some sacrifice as you will not be able to buy new things on credit. In order to make the refinancing worthwhile you must have a fixed mortgage at 4 to 4.5% interest rate and that you want to roll the debts into the new mortgage.
This is a matter of importance because the penalty for breaking a mortgage contract is either three months interest or the difference between the current mortgage rates and the existing rate. So at the current low mortgage rates, the difference in the interest rates could be steep. That is why some brokers think the value of breaking a mortgage is not worth it unless it is part of a larger consolidation of debt.
What could be done was to put together all the monthly payments one is now making and put that together as the monthly payment for the new mortgage. The new mortgage amount would be higher because you added all your credit line and credit card debts to the new amount. There will be interest savings for two years of about $14,300 in a real-life example with a shorter amortization period of 13 years instead of the former 22.years but you will have to make a commitment.
My problem with is is how about if the next interest rate in the next mortgage renewal shoots up? If I had my way, I would only refinance with a lower fixed mortgage rate for the full 13 years. What makes it exciting though is the thought you will own your home free and clear in 13 years instead of the 22 except you cannot buy anymore new stuff on credit. Here’s a Pay Off Mortgage Calculator - Engineered For A Debt Free Lifestyle.
Law Slashes Benefits for Military Widows
This is such a sad story for after serving the country to keep it safe from harm and after paying the premiums month after month so the family left behind will be taken cared of only to find that the rules of the game have changed. The widow will have to be forced to marry after the age of 56 before she can be eligible for the Survivor Benefits Plan. Click the title for a full report. The thing is You Could Be Entitled To Thousands Of Dollars Worth Of Military Benefits That Are Available To You NOW!