Top Tips on Debt and What George Bush Won't Tell You
Here's how to gain control of your life and get out of debt, in a nut shell. Things George Bush and his big business friends don't want you to know.
Most Americans could not afford to purchase a house without a mortgage. Also, a house appreciates or increases in value unlike credit card debt. A house loan is like a forced savings program, and unlike renting, you actually build value over time. There are also tax deductions and savings on real estate. A mortgage is a very sound form of debt. I canít say this enough. Stop renting and get a house. Else you are making your landlord rich.
Credit cards and store cards have one thing in common, they will make you poor and increase your debt. The only person getting rich off credit and store cards is the creditor, especially with high interest rates, smaller grace periods, and late fees. Tear up all but one card (keep that one for emergency usage only). Take on the adage, ďIf you canít afford to pay cash then donít buy it.Ē Ask yourself, ďDo I really need it?Ē The only things you should buy with credit are a house and a car.
Make a plan to pay off youíre your debt and donít take on any new debt. Pay off higher interest debts (usually store cards, credit cards, and payday loans). Never pay just the minimum (this will greatly increase the interest and length of the loan or debt). If you feel you are underwater with your debt and that it is unmanageable call a consumer debt agency. Make sure you look up the credit agency with the Better Business Bureau and your state attorney general as they keep tabs on these agencies. Also, most are free (donít pay for this service as credit card companies pay for it already). These agencies can be very helpful as they can renegotiate your interest rates, debts, etcÖ and put together a repayment plan that will put you back on track.
Build a 3 to 6 months safety cushion. You never know what the future holds or how much worse George Bush will hurt the U.S. economy and average worker to appease his wealthy friends. Do not keep it in your savings or checking account as most banks do not pay even semi-decent returns (banks are horrible rip offs Ė search around as there are numerous liquid investments that are safe and offer better returns on your money). As long as George Bush is president itís a safe bet that oil will bring great returns (George Bush and big oil go together like peanut butter and jelly).
There you have it, how to get control of your debt and life. We canít control George Bush and why he is wrecking the U.S. economy, but we can control our own debt and take control of our lives. Maybe George Bush and most politicians could learn something here Ė Donít spend money you donít have and donít waste it foolishly.
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ABOUT THE AUTHOR
David Maillie is Cornell Alumni and award winning writer and researcher. For more great free info, tips and ideas like this please visit the award winning and nationally top rated blog: http://www.bestbraindrain.com