Email Newsletter 11/7/01
DEBTSMART EMAIL NEWSLETTER - Tools for financial success!
A Free E-Mail Newsletter from DebtSmart Online and Press One
November 7, 2001 Issue 12
Scott Bilker, Editor and Publisher, mailto:firstname.lastname@example.org
Richard Crammer, Editor, mailto:email@example.com
For instructions to SUBSCRIBE, and DISCLAIMER, see bottom of this
IN THIS ISSUE
=> Cool Debt Statistic
=> DebtSmart Resources
=> Letter from the Publisher
=> Collection of Question and
=> What About Ben Franklin?
=> Debt Collection
=> The Three Little Pigs: Your
Child and Money
=> Kicking the Worry Habit
=> Review of "Living Within
Your Means--The Easy Way"
=> Subscribe/Disclaimer Information
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COOL DEBT STATISTIC
Source: Drowning in Debt, My Generation Sep-Oct 2001,
by Gary Belsky
In 1991 the country was spending 12.6
percent of its disposable income on household debt. As of Oct. 2001
the ratio now stands at 14.1 percent. Close to the 15 percent level
that financial pros flag as the line between having debt and having
a debt problem.
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Letter from the Publisher
by Scott Bilker
I'm scheduled to be on "The Mike
Show," (Business Talk Radio) for 60 minutes on Tuesday,
11/13/01, at 8:00 PM Eastern Time. Of course, scheduled means that
there's always a chance that it may not happen however, I've been on
before at the scheduled time.
The show is syndicated and heard in
about 40 U.S. states. You can also listen to it online. The online
set up takes a few minutes, and maybe a couple attempts. Also, there
are silences when they insert commercials. Try it now, save the
below link, and mark your calendar. Please write to me and let me
know how you liked the show. Listen online at:
Thanks for replying to the last
issue's survey on holiday spending! Here are some of the results:
79% of respondents said they spent
less than $1,000 last holiday season and also plan to spend the same
amount this year.
41% said that they think people will
spend the same amount this year as last year.
34% think that people will spend
86% said they didn't fly anywhere
82% said they're not going to fly
Also, in this issue we are
introducing a new feature, the DebtSmart Online Quiz. Check it out
"I believe that some people will
go out and shop til they drop but I also believe that others will
not go out to the store and buy as much as they would normally.
Those shop til you drop-ers will take their places so the economy
will pretty much stay the same. I love the newsletter. I am in debt
and am trying to get out. I find lots of tidbits of information that
I can use and pass on. My friends also agree."--Danielle
"Great Articles! Good
information. Look forward to each issue" --Bob
"Love the Newsletter!"--Tiffanie
"For our state (MN), I think
people will be spending less because of the amount of layoffs, the
State employees striking and our economy hurting now."--Denice
"I like the newsletter very
much. Keep it coming! I always find an article that is either
helpful or full of useful information that I will need at a later
"I think it is getting better
and better. I am truly impressed!!! I also like that you are able to
help so many people with your work."--Barbara
"I was divorced 4 years ago, I
had a husband who took care of all the bills for the most part, and
now I am taking control of what little amount I do have to myself,
there is a feeling of great accomplishment and pride that goes with
my being able to take care of myself 4 years later and have made
some wise decisions with your help. Thank you so much! Your online
help is available when "I" have time to read up on the
information, when I am fully able to sit down and comprehend what
choices I have . I have gotten an equity loan to transfer my
balances of my charge accounts so that the interest on the loan will
be tax deductible, and also to have a new roof put on my home
instead of just borrowing the money and the amounts of my finance
charges going to pure waste. I never knew any of this 4 years ago
let me tell ya...I have been able to increase my monthly cash flow
so I feel more secure , and able to pay off the loan faster or take
care of unexpected things that happen . You have given this blonde
some great advice and I do appreciate your help.... thank you thank
you thank you!"
Survey: How Many Credit Cards Do You Have?
The average credit card holder has 10
cards! Do you think that's too many? Not enough? How many credit
cards do you have?
Use the link below to take the
Quiz: General Credit Card Knowledge Quiz
We use credit everyday and it's
important to know the basics of handling our debt to ensure that
we're always getting the best deal. Test your credit knowledge right
now with our new online quiz!
Collection of Questions and Answers
by Scott Bilker
I receive many questions from readers
and try my best to get back to everyone directly. Below are some of
the shorter Q&A's I've received.
Saving for a Down Payment
How do you save money to buy a home when you are swamped with credit
card bills that just seem to suck every last bit of savings?
Car Debt or Credit Debt First?
I've already organized my debt with the highest interest debt to be
paid off first. Only thing is, my car loan is up toward the top...
Does it make sense to start increasing my payments on this loan?
Isn't it fixed, what I will pay on the loan? If this is the case
shouldn't I start paying on the next highest interest debt (another
credit card) instead? Thanks for any help!
Extending a Low Rate
I knew I would now be making less money to pay off the debts
incurred but never realized how difficult it would be. I am now
paying the minimum required and know that I will never get out of it
this way. Any suggestions?
Paying Off a Loan with Credit Cards
I have a home equity loan for 10 years at 8.50% for $26,000.00.
Could I pay this down with credit cards using $500.00-a-month
Buy a Car with a Cash Advance?
The logic of the 4.9% at 6 Months makes sense, BUT is it a reality?
What About Ben Franklin?
by Doris Dobkins
I was reading a book to my kids this
week called "The Value of Saving". It was the story of
Benjamin Franklin. When Ben was a little boy of around 8 years old,
he was already thinking of things to invent that would save him time
and money so he would have more of both.
One day when he was walking along the
sidewalk he found a penny that a rich man had dropped. When he tried
to give it back to the man, the man said he was an honest boy and
could keep it. Do you know what young Ben did with that penny? He
Use the below link to read the rest
of this article: http://www.debtsmart.com/cgi-pl/go/011107_en.cgi?17&7428
by Gary Foreman
Dear Dollar Stretcher, I had an
outstanding judgment against me for $1,000 to pay off an apartment
lease that was broken when my ex-husband and I divorced. The total
amount owed prior to the judgment was $1,700. The third-party
collector who's been calling me insists that I pay that amount. The
court said I owe $1,000 which has been paid in full. What can I tell
the collector to make him go away? --Sheri
Fortunately for Sheri she can take
control of this situation without too much trouble. Her biggest ally
Use the below link to read the rest
of this article:
The Three Little Pigs: Your Child and Money
by Scott Danger
I have a ten-month old daughter. As a
first-time parent, I wonder how I will handle many things. Lately,
I've been thinking about how and when I will introduce my daughter
to the concepts of money and saving and spending. I then realized
that I have probably already started this process. While I'm sure
she does not understand the concept of money, I know she knows what
a grocery store is. I know she knows that we take things from the
shelf and put them in our cart. She also is learning that she is not
allowed to do this. She also knows that the lady in the checkout
line always smiles at her. She sees her dad give the lady some green
paper and then we leave with our bags. Does she understand money and
the transaction that took place? I doubt it. But, every week we go
to the store and every time we are there, Dad gives the nice lady
his green paper and every week we leave with our bags. Eventually,
it will sink in. When we give someone the green paper, we get
things. That's the concept. Even at ten months, they are learning.
In doing research for this article, I
discovered that most experts agree that children should first have
their own money to spend at age three or four. At this age, money
should be something visual. A piggy bank is a great way to teach
children the concept of money and spending, saving and investing. As
I was searching the Internet for more information on this topic, I
found the following idea submitted by a reader on an investing web
site. The concept is simple, but it teaches children about the
benefits of saving and investing and spending in a simple and visual
Use the below link to read the rest
of the article:
Kicking the Worry Habit
by Michael Angier
I GREW UP ON A VERMONT FARM. After
college I bought a farm of my own and operated it for several years.
You might be interested to know that I learned the secret to making
a small fortune in farming. It's kind of inside information and I
don't pass it around to just anybody. Ready? Here it is: start out
with a large one, and sooner or later, you'll have a small one.
Farmers don't lead easy lives. The
work is hard and the risks are great. They're dependent on the
weather and many other things outside of their control.
I used to worry all the time. I
worried about livestock disease. I worried about getting bank loans.
I worried about the buying price of grain and the selling prices of
livestock. I worried about not having enough money. I was unhappy,
fatigued and irritable. It had become a disease.
And then I...
Use the below link to read the rest
of the article:
"Living Within Your Means--The Easy Way",
by Terry Rigg
Review by Scott Bilker
We all know Terry. He's written many
excellent and informative articles for DebtSmart. Now he's released
a new online book, "Living Within Your Means--The Easy
I personally found the online book
packed with great information! Terry covers many topics with an
easy-to-understand approach. Some of the numerous topics covered
include: (1) Organizing Your Bills and Files, (2) Good Spending and
Saving Habits (3) How to Deal with Debt, (4) What to do About Big
Money Problems, plus whole lot more.
Terry includes worksheets, links to
helpful web sites, and even how you can become a stay-at-home mom!
This online book is good and
certainly well priced. In fact, we added it to the DebtSmart product
The online book is only $10.00 and,
as a special offer to DebtSmart readers, you also receive the
DebtSmart Loan Calculator FREE when you order Terry's book, that's a
$20.00 value for only $10.00! BE SURE TO USE OFFER CODE 432 to get
this special offer.
Click below to read more about
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respect to any loss or damage caused, or alleged to be caused,
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newsletter and/or at the DebtSmart.com web site. The information,
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recommendation is made to follow the same course of action. Every
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herein. However, there may be mistakes; typographical, mathematical
or in content. This email newsletter and the DebtSmart.com web site
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action. You have been warned.
Copyright (c) 2001 Press One
Publishing. All rights reserved. Please do not reprint, or host on
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