DebtSmart® Email Newsletter
December 28, 2005
financial success! A Free Email
Newsletter from DebtSmart Online and
Press One Publishing.
Letter from the Publisher
by Scott Bilker
you had a wonderful holiday!
eye on CNN's, American Morning
show tomorrow (6 AM to 10 AM Eastern). I
was interviewed today by Miles O'Brien
on the topic of increased minimum
payments. It may run in the 9 AM hour
but could be anytime during the show.
There is a chance that it could run on
Friday instead. (FYI, I'll be talking
more about increasing minimum payments
in the next email newsletter on
this is it--the last email newsletter of
2005! It's that time of the year where
everyone is thinking about their New
Year's Resolutions. What resolutions
will you be making? I don't
think I'll be making any this year.
That's because I'm still working on last
year's. Hey, I started jogging a few
months ago. My endurance is definitely
better, but I haven't lost any weight.
Oh well, baby steps.
are making a New Year's Resolution,
don't be locked into doing it just
for the New Year. You can start today!
You'll feel better. Don't wait--start
now! If you're planning to spend less
next year, then start spending less
today. If you're planning to pay more
toward your credit card debts, then
start with today's bill stack.
what I'm trying to say is that you can
start taking action anytime. The best
time is right now. Just do it now.
should start eating less right about
now. Hmmm, I don't think so. I'll start
Corresponding with you through this
email newsletter has been my pleasure.
I'm looking forward to delivering to you
even more content-rich information
designed to help you save money in 2006!
healthy and happy New Year!
a debt settlement adversely affect our
by Scott Bilker
drowning in debt--over $80,000 in credit
card debt, some at over 30 percent! We
are taking a second mortgage out on our house to
pay it off. Should we ask the credit
card companies to lower our payoff
amount for paying off the balance in
cash? Will this adversely affect our
credit rating? Even a 10 percent
reduction would pay for a car for my
son. Your advice is appreciated!
are very excited because your advice
"Hi Scott -
we are very excited because your advice
works! My husband called Capital One to
try to get them to combine two accounts
into one and lower his rate. Both cards
were paid off, and one we had shredded
while we were on the phone with them
when they would not raise the limit -
they actually HEARD him shred the card!
At first they said no, but then when my
husband said he would shred the other
card too and go with BOA instead, they
changed their tune. The combined the
limits of both cards onto one. Even
though the limit is still less than
$1000, it proves your point that it does
PAY to make that call! Now I am going to
try to get them to combine mine...
Ben Sheffler, Richmond Hill, GA
Read about special offer for all three of Scott Bilker's
by Scott Bilker
You borrow $25,000 at 8% for 5 years to remodel
your kitchen and bathroom. Your loan requires 60 monthly payments to completely
pay off the loan. After you get the loan, one of your friends tells you that you
can save money by making payments more frequently. He tells you that this
happens because you pay off some of the principal earlier and are not charged
interest on that principal afterwards. Sounds good. Here's the question. If you
convert that 5-year (60-month) loan into a loan that requires 130 biweekly
payments (still 5 years), how much money will you save in overall bank payments?
by Terry Rigg
that is familiar with The Complete
Budget and Bill Organizer, you already
know that I recommend that you use your
checking account to pay bills and cash
to cover your household expenses.
of the different items that the average
individual or family spends money on, it
can be difficult to keep it separated.
You need to have money for groceries,
car gas, school lunches, dining out and
entertainment just to name a few.
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 check out certain companies personally so I can recommend the
ones that are worth considering!
If you would like to speak with a representative from a...
more at the DebtSmart Help Center
money on clothing
by Gregory Thomas
that you spend on clothing--do you know
how much that is? One hundred, two
hundred, maybe even three hundred a
really necessary to spend that much
money on clothes? Maybe not!
adjusting your spending habits and
learning to shop a bit more
conservatively, you can save yourself
hundreds, even thousands of dollars a
rule of three
by Michael Angier
United States Marine Corp believes
strongly in what they call "The Rule of
Three." They've found that implementing
this rule saves lives, gets more done
faster and more efficiently.
article on The Corp in INC. magazine
says, "The rule dictates that a person
should limit his or her attention to
three tasks or goals. When applied to
strategizing, the rule prescribes
boiling a world of infinite
possibilities down to three alternative
courses of action. Anything more and a
marine can become overextended and
confused. The marines experimented with
a rule of four and found that
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 ©2005 Press One Publishing. All rights reserved. Please do not
reprint, or host on your web site, without explicit permission. However, if you
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you, to e-mail it to a business associate or a friend. Thank you.
IN THIS ISSUE #114
Larissa S. Bilker
Editor: Denise Troy
The credit card industry
says the average household consumer debt is about $9,000,
and it's reported to be closer to $13,000 when you
exclude the households that pay their bills in full each
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