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DEBTSMART® EMAIL NEWSLETTER 
ISSN 1538-6740 
November 19, 2003 Issue 63

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

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IN THIS ISSUE

==> Cool Quote

==> Letter from the Publisher

==> Excerpt from “Credit Card and Debt Management”

==> Credit card balance transfers

==> Household Math™: What happened to the other dollar?

==> More meaning in life

==> DebtSmart® Help Center

==> Always check your credit report

==> Do what works and stop doing what doesn't

==> DebtSmart® Resources

==> Subscribe/Unsubscribe/Disclaimer Information

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COOL QUOTE

“Lack of money is the root of all evil.” 
--George Bernard Shaw

Click below for quotes from all previous newsletters: 
http://www.debtsmart.com/cgi-pl/go/031119_en.cgi?04&7428

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LETTER FROM THE PUBLISHER 
by Scott Bilker

Hi,

As always, I hope the email newsletter finds you in good physical and financial health.

Here’s how I view money--it’s the blood that flows through the veins of your family’s finances. At the heart of the cash flow are the people that manage and spend the money in the best interest of the family.

You must make sure that there are no blockages. You must make sure that this blood circulates through all aspects of your family’s financial life.

You’re smart about your finances, which is why you’re reading this, and probably many other email newsletters about money. Be sure to pass on what you learn to everyone making buying decisions so they know, as you do, how valuable and important smooth cash flow is to the entire household.

Regards, 
Scott 
PS: The Household Math™ question in this issue is a favorite. Good luck with it.

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EXCERPT FROM “CREDIT CARD AND DEBT MANAGEMENT” CHAPTER 5 (Math and Money) 
by Scott Bilker

I want to begin this chapter with a personal story. My father asked me to help him pick out a new car. After visiting several new car dealers in the area we finally found one with a car that had the price and features we were looking for. Once the negotiations were complete, and the price was agreed upon, it was time for the dealership to add in those extras such as; tags, processing fees and anything else they could.

Finally, the balance due for the car was presented and we decided to finance it. The salesman told me the length of the loan and the interest rate. I already knew the amount to be financed so it was easy to calculate the monthly payments. It was at this time that we were instructed to go into a separate office to read and sign the loan agreement. When the contract came out of the computer the monthly payment shown was $65 a month higher than I had calculated! That $65 per month for entire length of the 5- year loan would total $3,900! I expressed my concern and was told that, “you can't figure out monthly payments with a simple calculator” and “the computer is right.” I informed the salesman that unless...

Click below to read more: 
http://www.debtsmart.com/cgi-pl/go/031119_en.cgi?05&7428

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CREDIT CARD BALANCE TRANSFERS 
By Scott Bilker

Scott, A friend told me that they heard that continually doing balance transfers from one credit card to another can negatively affect my credit rating and that they also heard that there is a limit to how many balance transfers I can do. However, they did not know what that limit is. I've read in at least one of your books that you are constantly doing balance transfers to whatever is the best offer available at the time. Is there a limit on how many balance transfers I can do in a year, or even my lifetime? Do specific credit card companies have their own limits? Will the balance transfers hurt my credit rating if I am paying down my credit cards and even paying off others during this process? --Amy

Click below to read article: 
http://www.debtsmart.com/cgi-pl/go/031119_en.cgi?06&7428

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HOUSEHOLD MATH™

WHAT HAPPENED TO THE OTHER DOLLAR? 
by Scott Bilker

My father told me this one when I was a kid. Always stuck with me. Interesting accounting puzzle. Enjoy!

Three men checked into a hotel room and were charged $30 for which they paid $10 each. The next day, the manager realized that the men had been overcharged as the real price is $25 for the room. The manager gave the bellhop $5 to return to the three men. On the way to their room the bellhop decided to keep $2 for himself so he wouldn't have to make change. The bellhop gave $1 for each man. The three men had now paid $9 each, or a total of $27. This plus the $2 the bellhop kept to himself makes a total of $29. What happened to the other dollar?

Click below to solve problem: 
http://www.debtsmart.com/cgi-pl/go/031119_en.cgi?07&7428

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MORE MEANING IN LIFE 
by Doris Dobkins

Sometimes in all our efforts to live more frugally, save money and simplify our lives, we forget why we are making these choices.

Is the American Dream still more is better or is it shifting to something more along the lines of more fun, less stuff?

I don't know about you, but I need to be reminded on a regular basis of why I am trying to save money, pay off my bills and live a simpler life. It's easy to get quickly back into the phase of...

Click below to read article: 
http://www.debtsmart.com/cgi-pl/go/031119_en.cgi?08&7428

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DEBTSMART HELP CENTER 
By Scott Bilker

Helping you with your debt is very important to me personally! If you've been reading my articles, you know that I always encourage self-help as a first step. However, being buried in debt can be very overwhelming, which is why you may want to explore other options.

One of those options is professional, ongoing help with credit counselors. I've started to personally check out certain companies so I can recommend the ones that are worth considering!

If you would like to speak with a representative from a...

Click below to read more: 
http://www.debtsmart.com/cgi-pl/go/031119_en.cgi?09&7428

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ALWAYS CHECK YOUR CREDIT REPORT 
by Scott Bilker

I cannot stress enough the importance of periodically checking your credit report! Banks are not the only ones that look at this “financial résumé.” Employers, insurance companies, and many other people will pass judgement on you based on your credit history.

You want to make sure that there are no errors in these reports...

Click below to read more: 
http://www.debtsmart.com/cgi-pl/go/031119_en.cgi?10&7428

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DO WHAT WORKS AND STOP DOING WHAT DOESN'T 
by Michael Angier

Success is simple. Just be clear about what you want and go after it. That and a few million details and you’ve got it made.

Let’s assume that you already know what you want in your life and what it would take to make you feel successful.

But how do you make that happen?

It takes a clear and impassioned...

Click below to read article: 
http://www.debtsmart.com/cgi-pl/go/031119_en.cgi?11&7428

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DEBTSMART® RESOURCES

DebtSmart® Books, software, reports, in-print and downloads: 
http://www.debtsmart.com/cgi-pl/go/031119_en.cgi?01&7428

Archive of DebtSmart® Email Newsletters online: 
http://www.debtsmart.com/cgi-pl/go/031119_en.cgi?02&7428

How to use DebtSmart® articles FREE in your e-zine or on your web site: 
http://www.debtsmart.com/cgi-pl/go/031119_en.cgi?03&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: 
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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 to 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.

Copyright © 2003 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.