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IN THIS ISSUE #143 |
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Publisher:
Scott Bilker |
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Editor:
Larissa S. Bilker |
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Assistant
Editor: Denise Troy |
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ISSN
1538-6740 |
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Worst Savings Rate Since The Great Depression |
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The savings rate for
2006 was a negative 1%, meaning that not only
did people spend everything they earned, but they
also dipped into savings or increased borrowing
to finance purchases. The 2006 figure was lower
than a negative 0.4% in 2005 and was the poorest
showing since a negative 1.5% savings rate in
1933 during the Depression. The savings rate has
been negative for an entire year only four
times--in 2005 and 2006 and in 1933 and 1932. |
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Letter from the Publisher
by Scott Bilker
Hi,
Check this out; soon the penny may be
worth 5 cents. The reason is because the metals are worth more than the
face value! According to the story I saw, a 1978 penny has $1.00 worth of
copper!
In general, the price of metals has been
increasing over the past five years. Copper hit a record high of
$4.16 a pound in May. There are 154 copper pennies in one pound. So
that's 2.7 cents per penny just in raw materials!
Today's pennies are made mostly of zinc.
A possible solution is to make pennies out of plastic. Great, that's what
we need--more plastic! Better yet is to go 100% electronic and not fuss
with
the cash.
Next topic; according to British
psychologist Oliver James, we need to watch out for what he calls the
"Affluenza Virus." It is a disorder of mindless consumerism based on an
uncontrolled quest for money and stuff. The side effects are: (1)
getting richer and (2) sadness.
And what is the cause of this?
Global warming! (Just kidding.)
From Wikipedia:
affluenza, n. a painful, contagious, socially transmitted condition of
overload, debt, anxiety and waste resulting from the dogged pursuit of
more. (de Graaf, 2002)
affluenza, n. 1. The bloated, sluggish
and unfulfilled feeling that results from efforts to keep up with the
Joneses. 2. An epidemic of stress, overwork, waste and indebtedness
caused by dogged pursuit of the American Dream. 3. An unsustainable
addiction to economic growth. (PBS)
My take--being happy with what you have
is the cure, and prevention, of this social disorder.
Best,
Scott
How I Made an Easy $1,800 Profit with My Credit Cards
by Scott BilkerHi Scott,
I recently heard you on NPR radio 90.9 FM
WBUR from Boston.
I was interested in how you borrowed from
your credit card at a low interest rate and then invested it in a CD and
earned about $1,800.
Which of your books covers that
interesting topic? I'd like to know more!
Thanks,
Leo
Finish Reading Article
"Thank you for saving my sanity" and other reader comments...
"Thanks to your book and website! We are
getting very close to getting all of our credit cards paid off. Your
organization provides a great service!"--Brenda
"Hi Scott, I opened your Talk Your Way
Out of Credit Card Debt, and called Capital One and got my 19.8%
reduced to 14.9%--thanks for your help!"--Joshua LeBeau
"Thank you for saving my sanity about a
year ago with your book. I have since done GREAT advances on my credit
cards. I found you before it was too late."--Eileen
"I wanted to say thanks to you--your
teachings have undoubtedly taken thousands of dollars out of the credit
card companies pockets and put the money into my pocket. I view this as
a grand thing."--Craig K.
"I found your website and am so glad I
did! I was feeling like an irresponsible person because of this debt
situation, but after reading some of your articles and questions from
other readers, I am starting to feel a bit better. Thanks and keep up the
good work!"--Raquel V.
"With one phone call to Citicards and a
minor threat of moving to a different card, they did not lower my
interest rate (14.5%) forever, but offered an introductory rate of
1.99% for nine months. You are correct about making the calls. Also a
good credit history helped."--Rush Kittle
"It is very informative. I looked at my
statement and realized I was paying 17.5% on my 5,700 credit card loan.
I found your site and followed your instructions. It worked. I received
their promotion for 5.2% for the first 6 months and then 11.5%. They
said to call back after 6 months to find out about any new promotions.
Thanks so much!"--Mark Picone
Read about special offer for all three of Scott Bilker's best-selling books
Coping with Financial Stress
by Debra Vaughn
Maybe your credit card debt is growing
faster than the weeds in your yard. Perhaps you have the money to pay
your bills and live comfortably now. However, retirement is coming, or a
crisis may land square on your lap that could, one day, leave you
without a penny to your name.
When it comes to reasons behind stress,
concerns about money top the list. We worry about not having enough,
spending too much, not saving enough - even having more money than we
can handle. Money related stress can be bad for both your mental and
physical health.
Finish
reading article
Household Math™: Cell Phone Plans
by Scott
BilkerBrandon is getting his first
cell phone and is trying to decide which plan to take. After reviewing
all the details, the choice comes down to two options: (Plan 1) $59.99
per month for up to 500 minutes and (Plan 2) $89.99 per month for up to
1,000 minutes. Both plans cost an additional $0.35 per minute if he goes
over the monthly limit. Brandon wants to know the minimum number of
minutes he must use in order to make it worthwhile to select plan 2 over plan 1?
Answer this problem
Stop Debt Collectors Cold!
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Stop Debt Collectors Cold! Plus, for a
limited time, 4 bonus reports: |
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--> How to Get Collection
Accounts Off Your Credit Report |
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--> How to Avoid Losing Your Home
In A Foreclosure |
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--> What to Do if You Are Behind
on Your Car Payments |
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--> Confidential Interview With A
Former Debt Collector |
Read about stopping debt collectors
The Valentine's Day Challenge
by Nancy
TwiggDoes Valentine's Day have to
be expensive? Not at all. Let me tell you a story of how my husband and
I had one of the best Valentine's Day celebrations ever by limiting
ourselves to spending $10 or less.
About ten years ago, my husband Michael
and I both left good jobs to begin a home-based business. Within a
matter of weeks, we went from two comfortable salaries to one sporadic
stream of income from our fledgling business. On the first Valentine's
Day after we became self-employed, we both knew we shouldn't spend much
on our February 14th celebration. So we agreed to try something
different. We decided to set a $5 spending limit per person for our
Valentine's Day gifts.
Finish Reading Article
More credit, more options!
Credit options are your weapon
against the banks! The key to success is using your credit lines
to save money--not to go crazy spending!
The Credit Repair Kit plus bonus
CD!
by Joe Sainz
What do you
think of when you hear the words "credit
repair"? I think of scam! That's because
many companies have made promises to
"fix" people's credit but then simply stole
their money. However, there are still
reputable sources for people to learn
how to straighten out their credit
reports.
Your
credit report is your financial résumé
and everyone, from lenders to insurance
agents, reviews it. It's vital that there
are no mistakes shown, and if there are,
that they're removed!
There are
many books on the subject, but my
personal favorite is The Credit
Repair Kit. That's because Joe
Sainz offers great practical advice for
correcting errors. Plus, he includes a
Credit Booster CD-ROM with the
book!
If you're
having trouble getting the rates you
deserve because of your credit report,
then you must read this book!
Read more
about The Credit Repair Kit plus bonus
CD...
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