News:

MSNBC: Cutting debt is this year's top resolution

MSNBC is reporting on a Cambridge Credit Counseling survey that shows that more Americans are make paying off debt a priority.

Here's an excerpt of the story:
"NEW YORK - Americans seem to be gaining self-awareness about how debt-laden they are and have made paying off debt a priority in the new year, beating out weight loss as a resolution for the first time in recent years.

According to a new study by Cambridge Credit Counseling, an Agawam, Massachusetts-based credit counselor, 28 percent of Americans have made said slashing debt their No. 1 New Year's resolution in 2004."

Read the entire article at http://www.msnbc.msn.com/Default.aspx?id=3908874&p1=0

Budgeting
Many fear the word budget as though it is some terrible monster lurking in the shadows waiting to pounce every time the paycheck comes in. But this fear is unwarranted, since if anything, a budget can be a valuable asset to the family.

Credit Cards
Credit card debt is like that proverbial snowball that keeps getting bigger and bigger and card issuers couldn’t be happier.

Credit_Counseling
Many people face difficulties when it comes to the proper handling of credit. The system of credit by ethical standards should be administered by creditors and used by consumers with caution and self control. Unfortunately, both creditor and consumer fail when it comes to handling credit and the result is waves of debt crashing on the shores of bankruptcy.

Debt Consolidation
To do or not to do?That is the question and the answer depends on the person doing the asking. Ironically, many have gone the route of debt consolidation only to find themselves in twice as much debt. How does this happen?

Debt
Debt is a lot like gravity—it’s always weighing you down. Can you imagine being free to soar in the heights of financial prosperity? It does happen and it can happen to you but there are vital steps you must take before debt can truly be eliminated.

Bad Debt
Bad debts are debt like credit cards, car loans, etc., and normally include incurred debt on anything that depreciates.

Bankruptcy
Bankruptcy law was enacted to protect American citizens who, for reasons usually beyond their control, had found themselves hopelessly in debt.

How does debt-stacking work?
Debt-Stacking is a simple method of reducing debt in the shortest time possible with the money that is already going to payments. This method has saved the average consumer over 50,000 dollars in interest and cuts the time to payback debt in half.

Why credit cards take so long to pay off?
Creditors design your payment schedule to keep you in debt for a very long time. Lets look at a typical credit card with a 3400.00 balance at 16.9% interest.

Financial Freedom
In today's world building financial freedom is essential for a peaceful life. Steps to financial freedom involves:

Frugal Living
Frugal living doesn't necessarily mean giving up all your comfort and hobbies in order to save.

Americans Should Focus on Debt
“ On one hand they’re investing money each month in stocks, 401(k)s and other vehicles. But on the other hand, they’re shelling out hefty minimum monthly payments to credit card companies, which barely cover the 10, 15 or 25% interest they’re being charged.”

Personal Financial Planning
The journey of a thousand miles begins with a single step.

Can You Afford to Buy On Credit?
The promise of a better lifestyle with 'instant credit' is suffocating consumers on an ever-increasing iceberg of debt.

Home

Your Location:
Home >
News >
MSNBC: Cutting debt is this year's top resolution

Eliminate all your debt
including your mortgage!

15 minutes could save you $10,000 or more