DEBTSMART EMAIL NEWSLETTER
ISSN 1538-6740
May 22, 2002 Issue 26

Tools for financial success!
A Free E-Mail Newsletter from DebtSmart Online and Press One Publishing.

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Publisher: Scott Bilker, mailto:publisher@debtsmart.com
Editor: Richard Crammer, mailto:editor@debtsmart.com 

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For instructions to SUBSCRIBE, and DISCLAIMER, see bottom of this email.

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IN THIS ISSUE

==> Cool Quote

==> Letter from the Publisher

==> Getting Your Overpayment Refund

==> Plugging the Leaks in Your Budget

==> Household Math(tm): Loan Comparison

==> Why Not Lease?

==> Strangled by Debt

==> Redefine What a Credit Card Can Do

==> What is Simple Living?

==> Getting Past the Idea of Budgeting and Saving Money

==> DebtSmart Resources

==> Subscribe/Disclaimer Information

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PLEASE FORWARD THIS ISSUE

If you haven't already done so, please forward this issue to one or two of your friends or business associates.

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COOL QUOTE

"In times of distress, strengthen your heart."
--Samuel ha-Nagid

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LETTER FROM THE PUBLISHER 
by Scott Bilker

Back in January I did a TV promotion for a free Debt Makeover. This was also announced in the email newsletter for few weeks. On May 13, 2002, DebtSmart Reader, Luis A. Acevedo, appeared with me on the show "Real Life" for his Debt Makeover. Additionally, I'll be working with him over the few months. You can see photos from that show at:
http://www.debtsmart.com/cgi-pl/go/020522_en.cgi?15&7428 

Thank you all for the great response to my article in the last issue, "10 Reasons to Hate Your Credit Card Bank." You can read the survey results by clicking below:
http://www.debtsmart.com/cgi-pl/go/020522_en.cgi?06&7428 

You may not be surprised to learn that many banks are begging me to use their transfer deals. I'm sure you've received many of the same the same calls.

Here's a tip, if they call saying, "transfer your balances for 6.9% right now," tell them it's too high. EVERY time I've done this they come back with "I can go as low as 4.99%." To which I reply with, "That's still too high." The response, "The lowest I can go is 2.99%." You get the picture.

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GETTING YOUR OVERPAYMENT REFUND 
by Scott Bilker

Dear Scott, I took out a debt consolidation loan to pay off five creditors. The loan company wrote checks directly to the creditors. The process took three months and by the time the checks arrived at the creditors my balances were less than the checks. Now a few creditors owe me because my payment was more than the balance! All but one has paid. They owe me $179.00, too much money to walk away from. What is very upsetting to me is that, if I owed them money, I would have to pay late fees, interest and get marks on my credit report. How do I get the money back?
--Aimee

Click below to read article:
http://www.debtsmart.com/cgi-pl/go/020522_en.cgi?07&7428 

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PLUGGING THE LEAKS IN YOUR BUDGET 
by Nancy Twigg

Ben Franklin once said, "Beware of little expenses. A small leak will sink a great ship."

Five dollars here, ten dollars there -- these little leaks may not seem like much at the time but added together, they can make a serious dent in your attempts to control your cash flow. Here are some quick reminders for stretching your dollars by controlling the most common areas of budget "leakage."

Click below to read article:
http://www.debtsmart.com/cgi-pl/go/020522_en.cgi?08&7428 

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HOUSEHOLD MATH(tm): LOAN COMPARISON

This problem submitted by DebtSmart® reader Sofia Dailey.

Assume a person is buying a $150,000 home at a rate of 7% interest on a 30-year loan, with the usual 20% down payment (so the loan would be $120,000). This person also has $20,000 in cash reserves. In which of these two scenarios would this person end up paying less money over the course of the loan?

1) Putting down the $20,000 as a down payment, increasing the down payment to $50,000, and lowering the loan amount to $100,000

2) Taking out a $120,000 loan at 7% and then putting the $20,000 as a first payment towards that loan.

3) Both (1) and (2) are exactly the same.

Click below for problem:
http://www.debtsmart.com/cgi-pl/go/020522_en.cgi?09&7428 

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WHY NOT LEASE? 
by Gary Foreman

Is it better financially to buy or lease an automobile since it's a depreciating asset? Thank you kindly.
--Mark

Like most people, Mark is probably attracted to the lower monthly payments of an auto lease. But, even with the lower payments it's usually better to buy. There are a couple of reasons that's true. You don't build up equity in a leased auto. You'll also be prone to trade cars more often and you give up flexibility if you need to get rid of the car quickly.

Click below to read article:
http://www.debtsmart.com/cgi-pl/go/020522_en.cgi?10&7428 

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STRANGLED BY DEBT?

Simplify Your Life; Lower Your Payments; Consolidate Your Debt

Connect with the Financial Circuit!

Search Rates and Terms. Find the Best Equity Loan or Line for Your Situation.

Great Customer Service from Expert Loan Agents Do It All from the Comfort of Your Home Fast and Simple Application Process Extremely Competitive Rates

Click Below to Apply Today:
http://www.debtsmart.com/cgi-pl/go/020522_en.cgi?13&7428 

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REDEFINE WHAT A CREDIT CARD CAN DO!!

0% APR for the first 6 months, No annual fee, and an APR as low as 9.99% fixed, and credit lines up to $100,000.

Click below to apply:
http://www.debtsmart.com/cgi-pl/go/020522_en.cgi?14&7428 

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WHAT IS SIMPLE LIVING? 
by Doris Dobkins

This is a question I hear all the time, and appropriate too as "Simple Living" is one of the top ten trends of the decade.

But what exactly is it? Do I have to move to the mountains, heat with a wood stove and grow my own vegetables?

I'm happy to tell you that Simple Living is not one thing or one path. It is not the same for you as it is for me. It is instead...

Click below to read article:
http://www.debtsmart.com/cgi-pl/go/020522_en.cgi?11&7428 

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GETTING PAST THE IDEA OF BUDGETING & SAVING MONEY 
by Gregory Thomas

I'm sure you'll agree that budgeting, saving money, and eliminating debt are very appealing ideas. If effectively tackled, these goals can secure your financial status for the future, and allow you to live a comfortable, debt-free life.

However for some unfortunate reason, these important financial goals hardly ever get accomplished, and most will continue to go through life consistently worried about their financial security, unprepared for what the future may hold.

Click below to read article:
http://www.debtsmart.com/cgi-pl/go/020522_en.cgi?12&7428 

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DEBTSMART RESOURCES

How to advertise in the email newsletter:
http://www.debtsmart.com/cgi-pl/go/020522_en.cgi?01&7428 

How to advertise in the online classifieds:
http://www.debtsmart.com/cgi-pl/go/020522_en.cgi?02&7428 

DebtSmart Books, software, reports, in-print and downloads:
http://www.debtsmart.com/cgi-pl/go/020522_en.cgi?03&7428 

Archive of DebtSmart Email Newsletters online:
http://www.debtsmart.com/cgi-pl/go/020522_en.cgi?04&7428 

How to use DebtSmart articles FREE in your ezine or on your web site:
http://www.debtsmart.com/cgi-pl/go/020522_en.cgi?05&7428 

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HOW TO SUBSCRIBE OR UNSUBSCRIBE FROM THIS NEWSLETTER

All recipients of DEBTSMART EMAIL NEWSLETTER have signed up voluntarily for the newsletter via our website.

TO SUBSCRIBE to this newsletter click on the below link and complete the subscription form:
http://www.debtsmart.com/cgi-pl/go/020522_en.cgi?00&7428 

Please contact mailto:comments@debtsmart.com with any comments, problems, or concerns.

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The author(s), Press One Publishing, and DebtSmart.com shall have neither liability nor responsibility to any person or entity with respect to any loss or damage caused, or alleged to be caused, directly or indirectly by the information contained in this email newsletter and/or at the DebtSmart.com web site. The information, methods and techniques described may not work for you and no recommendation is made to follow the same course of action. Every effort has been made verify the accuracy of all content contained herein. However, there may be mistakes; typographical, mathematical or in content. This email newsletter and the DebtSmart.com web site have been created for your entertainment only. You must always seek the proper professional advice before taking any financial or legal action. You have been warned.

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Copyright (c) 2002 Press One Publishing. All rights reserved. Please do not reprint, or host on your Web site, without explicit permission. However, if you found this newsletter helpful, we grant you permission, and strongly encourage you, to e-mail it to a business associate or a friend. Thank you.