14 ways to handle your debts
by Scott Bilker
There is always much advice as to how to handle your debt. As with everything in life, there are pros and cons to each strategy. Picking the right path depends on your personal situation and of course, careful consideration of the costs. My feeling is that the best choice is the smartest financial choice. That means the least expensive strategy. That said, let's take a look at a few approaches to dealing with debt.
Book Review: "Good debt, bad debt"
by Scott Bilker
Good debt, bad debt. Or, as I prefer to call them, good spending decisions and bad spending decisions. Debt itself is only bad when you have less expensive debt options that you're not taking advantage of. That said, it might be easier to keep in mind the quality of your spending decisions based on the type of debt it incurs.
Household Math™: Average rate of return
by Scott Bilker
You haven't touched the money in your investment account for the past three years. The effective annual rate of return (how much the amount has changed over the entire year) has varied from year to year. The returns were: 7 percent gain in the first year, one percent gain in the second, and a 7.47 percent loss in the third. What is your average effective annual rate of return over that three-year period?
Cash-out to pay off cards or keep debt?
by Scott Bilker
I have a 30-year home mortgage and $14,000 in credit card debt. My mortgage has 28 years to go to pay off and is at 5.875 percent. My credit cards are at 3.99 percent for the lifetime of balance to 10.9 percent--all fixed rates. Should I refinance my home with cash-out to pay the credit cards off then freeze them? I'm 57 years old and earn approximately $26,000 per year salary. Any advise for me?
Book Review: "Master Your Money Type"
by Scott Bilker
Jordan Goodman latest book, "Master Your Money Type," will help you do just that. First, of course, you need to know your money type. He talks about many like, The Strivers, The Ostriches, The Debt Desperadoes (my personal favorite type), The Coaster, The High Rollers, and The Squirrels.
Book Review: "Credit Scores & Credit Reports"
by Scott Bilker
Your credit report is your financial résumé. Everyone is looking at it. From employers to landlords to creditors--even insurance agents. And they're judging you based on your report and score. A good report and score can mean saving thousand of dollars in interest, getting that apartment, and landing your dream job.
Refinancing your mortgage
by Scott Bilker
This document is the transcribed version of the video presentation. There are two streaming version available to view online. Both these version are in both the Windows Media Player format and the RealPlayer format. Additionally, there are two download speeds available for both versions for dial-up and high-speed Internet connections.
Refinancing your mortgage
by Scott Bilker
[HIGH SPEED] DebtSmart Video Library Presentation: You should always be thinking about refinancing because your mortgage is probably the most expensive purchase you'll ever make. Notice that I didn't say your house was the most expensive purchase. That's because when you took a mortgage you purchased that money to pay for the house. The purchase of that money is paid by the interest charges.
Refinancing your mortgage
by Scott Bilker
[DIAL-UP SPEED] DebtSmart Video Library Presentation: You should always be thinking about refinancing because your mortgage is probably the most expensive purchase you'll ever make. Notice that I didn't say your house was the most expensive purchase. That's because when you took a mortgage you purchased that money to pay for the house. The purchase of that money is paid by the interest charges.
Rising minimum payments
by Scott Bilker
Hi Scott!, I have really enjoyed reading all your great info about credit card debt. However, all this talk about rising minimum payments from 2 percent to 4 percent has got me worried. I'd like to plan for additional purchases like a new car before winter but I am unsure of my financial situation if my payments jump to 4 percent. I've called my banks for an answer but they have only told me they are in the process of determining whom these changes will affect. How can I find out what the future holds for me so I can move forward in my financial planning? Thanks so much far any assistance with this one! John
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