Only after you have gotten in the habit of making regular increased payments towards your debt should you begin exploring other debt elimination tricks like debt negotiation and debt consolidation. All of the shortcuts in the world can’t help you … [Read more...]
Debt Free Step Three: Your Debt Management Plan
May 30, 2006 By
Nobody can get out of debt without the right debt management plan. Pick a plan that is too aggressive and you may not be able to keep up; go with a “too affordable” plan and you won’t get out of debt as fast as you should. One the flip side, if … [Read more...]
Debt Free Step Two: How Much Debt Do You Have?
May 25, 2006 By
The second step in my Debt Free in Seven Steps system involves composing a clear picture of the debts you want to get rid of, any assets you are willing to liquidate to make debt payments, and your monthly cash flow. You will want to have copies of … [Read more...]
Debt Free Step One: Create Financial Goals
May 24, 2006 By
Faced with debt it is tempting to spend sleepless nights aimlessly crunching numbers, as if the right few calculator taps will make that red ink disappear. Sadly we both know that won’t happen---wading through your bills unnecessarily will only … [Read more...]
Debt Free in Seven Steps
May 23, 2006 By
Got debt? You’re not alone. The average American’s credit card balance is over $8,000. In 2001 we paid $50 billion in finance charges, and 1.3 million people declared bankruptcy. Fortunately, you can become debt free. If you're ready to eliminate … [Read more...]
Ouch. Interest Rates Keep Rising
May 22, 2006 By
These rising interest rates are bad news for those of us hacking away at our credit card debt. A couple of years ago I thought I was safe because my cards had so-called "fixed interest" rates, not variable prime-plus rates most cards are infamous … [Read more...]
IRS Revokes Nonprofit Status of 41 Credit Counseling Agencies
May 16, 2006 By
The IRS may be good for something. BusinessWeek reported yesterday that the IRS has revoked the tax-exempt status of 41 "nonprofit" credit counseling agencies. … [Read more...]
Pay Off Credit Cards or Contribute to a 401(k)?
May 5, 2006 By
Millions of young workers graduate in debt and wonder: When I become eligible for a 401(k) or another tax-deferred retirement plan, should I contribute to the plan even if I could use those funds to pay down debt? … [Read more...]
Consumption Smoothing: Friend Later, Foe Now
April 17, 2006 By
An artlice from Sunday's Boston Globe (story) got me thinking about the principle of consumption smoothing for the first time since I took Econ 101 about seven years ago. If I remember correctly, it basically states that after reaching a certain age … [Read more...]
I'm David Weliver. At 26, I had NO savings and NO financial plan. I was maxed out, stressed out, and fed up. Then, I changed. I repaid $80k of debt, tripled my income, and bought a home. I'll show you how to get similar results. 