Web DebtSmart.com
Tuesday, May 21, 2024   

DebtSmart® Email Newsletter
February 7, 2007: Issue #143

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



" Creating a budget is much easier than sticking to one."
--Scott Bilker

Quotes from all previous newsletters


Letter from the publisher
Cool Quote
DebtSmart® Recommended Products and Services
How I Made an Easy $1,800 Profit with My Credit Cards
DebtSmart® Amazon aStore
More credit card and debt statistics
"Thank you for saving my sanity" and other reader comments...
Coping with Financial Stress
Household Math™: Cell Phone Plans
Stop Debt Collectors Cold!
The Credit Repair Kit plus bonus CD!
The Valentine's Day Challenge
More credit, more options!
Free DebtSmart® Column for in-print publication, ezine, or web site
Books, software, in-print and downloads
Archive of Email Newsletters online
Update-Subscribe-Unsubscribe-Disclaimer Information
Publisher: Scott Bilker
Editor: Larissa S. Bilker
Assistant Editor: Denise Troy

ISSN 1538-6740

You can add DebtSmart® News RSS feeds to your newsreader pages. Note: RSS feeds are not a replacement for the email newsletter but a fast method of finding out what's new here at DebtSmart.com.


Worst Savings Rate Since The Great Depression

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.
Read more credit card and debt statistics

DebtSmart® Recommended

Discover® Platinum Wildlife

Intro Rate: 0.00%, Time Period: 12 Months, APR: 10.99%.

Advanta Platinum BusinessCard with Unlimited Rewards

Intro Rate: 0.00%, Time Period: 15 Months, APR: 7.99%.

Citi® Platinum Select® MasterCard

Intro Rate: 0.00%, Time Period: Up to 12 Months, APR: As low as 8.49%.

Blue from American Express®

Intro Rate: 0.00%, Time Period: 15 Months, APR: 4.99% (for life on transferred balances).

Advanta Life of Balance Platinum Card

Intro Rate: 2.99%, Time Period: Until Paid

Chase Platinum Visa®

Intro Rate: 0.00%, Time Period: 12 Months, APR: 14.24%.

Discover® Platinum Card
Intro Rate: 0.00%, Time Period: 12 Months, APR: 10.99%.

Letter from the Publisher
by Scott Bilker


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.


How I Made an Easy $1,800 Profit with My Credit Cards
by Scott Bilker

Hi 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!


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 Bilker

Brandon 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!
Stop Debt Collectors Cold! Plus, for a limited time, 4 bonus reports:
  --> How to Get Collection Accounts Off Your Credit Report
  --> How to Avoid Losing Your Home In A Foreclosure
  --> What to Do if You Are Behind on Your Car Payments
  --> Confidential Interview With A Former Debt Collector

Read about stopping debt collectors

The Valentine's Day Challenge
by Nancy Twigg

Does 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...

How to UPDATE your information, SUBSCRIBE, or UNSUBSCRIBE from this newsletter
All recipients of the DebtSmart® Email Newsletter signed up voluntarily for the newsletter via our website.
SUBSCRIBE to this newsletter
Please contact comments@debtsmart.com with any comments, problems, or concerns.


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 ©2007 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.


Subscribe FREE and start finding new ways to save money and pay off your debt.

"The DebtSmart Email Newsletter is packed with cutting-edge strategies for solving credit problems. I highly recommend it."--Gerri Detweiler, radio host and author of The Ultimate Credit Handbook

NBC 10 News:
Money King Secrets
<Photos and Video>
Art Fennell Reports
<Photos and Video>
CNN: CNN Newsroom
<Photos and Video>
CNN: American Morning
<Photos and Video>
ABC: Action News
<Photos and Video>
CNN/fn: Your Money
<Photos and Video>
<See all Television Interviews>

Subscribe to the DebtSmart® RSS Feed
   Add to Google