IN THIS ISSUE #149
Larissa S. Bilker
Editor: Denise Troy
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Only 26 percent of those making less than $40,000 annually feel they are in a
good position to buy, while 71 percent feel they are not. In sharp contrast, 60
percent of those making $75,000 or more feel they are well-positioned to spend,
while only 38 percent of these consumers feel they are not in a good position to
buy. Among those making $40,000 but less than $75,000, 44 percent feel they are
in a good position to spend, while 53 percent feel they are not.
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Letter from the Publisher
by Scott Bilker
Avoid being maxed out! Hey, you know that movie Super Size Me about the
guy who ate at McDonald's until he nearly exploded? Well, there's another
documentary movie out that is the "Super Size Me" of debt titled, Maxed Out.
Director James Scurlock asked me about being interviewed for this movie
around June 2004, however, I didn't make the final cut. I guess I couldn't
sing as well as Sanjaya. ;)
It looks like a great movie (from what I've seen so far). You can see
clips, and learn more about the film
If you're looking for a more "Christian Perspective" on debt relief, then
Integrity Debt Solutions. They explain how debt forgiveness is linked to
scripture and debt elimination. I find the site to be well done. Remember
though, as with any service, you need to first get the free
consultation and then compare that to other solutions for your specific
Recently, I ran across a great consumer website where you can look up
complaints from people that have been ripped off. From
site, "Unlike the Better Business Bureau, we do not hide reports of
'satisfied' complaints. ALL complaints remain public in order to create a
working history on the company or individual in question; unedited."
DebtSmart reader, Diane Ayers, sent me this email message and it made my
day! "I have to say DebtSmart is one of the best email newsletters I have ever
subscribed to. Not only does it help me keep debt under control, it tells me
how to make it shrink and keep going on with life without the worry of
constant debt. Also, it expands on things that we do everyday. It just keeps
getting better and better. My favorite part of the newsletter is seeing
people really open up and ask for your help or suggestions, and you reply in
a compassionate manner that is not seen today. Keep up the good work; your
newsletter will always be #1 with me." Thanks, Diane!
That's all for now!
11 Easy Ways to Cut Your Spending Without Feeling It
by Scott Bilker
It's clear from the "DebtSmart Survey Results: Cutting
Spending vs. More Income" that most people believe that cutting spending is
the faster way to reduce debt. Of course, this is certainly true to some
extent. My position is that there are three main points to be addressed when
reducing debt, specifically: (1) Getting organized financially; (2) Becoming
more efficient with your current debt and spending; (3) Generating more
Here are some suggestions to expand on number (2), specifically as it
applies to spending.
1) SHOP ONLINE: If you have to make a large purchase; for example,
computer, water heater, etc., ALWAYS check out prices online. Don't be
tempted to get it at the local store without taking a look at competing
Finish reading article
"MUCH lower rates on my credit card"
"I just recently started receiving your
newsletter, and it has already made an impact on my life. I owe about
$6,000 between Discover and Visa card; I was getting nowhere even paying
extra. After your newsletter came, I went right down to the credit union
and transferred my balances and got MUCH lower rates on my credit card.
Duh! Don't know why I didn't realize I could do this before. Thanks."
Read about special offer for all three of Scott Bilker's best-selling books
Household Math™: Susan is loanly
Susan just left her boyfriend Jim because he didn't want to get
married. Susan originally planned to buy an investment property with Jim, but
that plan is over. She decides to go ahead and get the house herself. She
gets approved for a 30-year, 7% APR loan with payments (principal and
interest) of exactly $800.00. Susan decides, after making the first monthly
payment of $800.00, that starting the next month, and until the loan is
complete, she is going to add one extra dollar bill to the monthly payment.
So her next payment will be $801, then $802, and so on. How long will it
take her to repay the loan?
Answer this problem
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How to Cancel PMI
by Gary Foreman
I have a problem with my PMI. I have contacted the mortgage company on
four different occasions to talk about canceling it. I want the extra money
to start paying down the mortgage. On call one, I was told it was going to
automatically drop that same month, so I did nothing. When several months had
passed, I called again. This time I was told again it would be dropped in two
months. So again I waited. When several more months had gone by, I called
again. This time I was told it would automatically drop when the balance
reached 75%. That was two months ago. Today, I called again and guess what, I
now have paperwork I need to fill out, get an appraisal (which I pay for)
and then it should be dropped.
Is this normal or am I just being BS'd again. I had read for a long time
how difficult it is to get them to drop PMI. Now I know what they mean. What
can I do to get it dropped? Are there any rules, laws or governing bodies I
can talk to about this constant run around?
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!
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information in the Credit Secrets Bible is so powerful, we have to
disclose to you upfront that it is sold for informational purposes only.
If you don't already know, I'll be the
first to tell you... banks, finance companies, bill collectors and
credit card companies are some of the BIGGEST crooks in the world. If
you don't know the secrets contained in the Credit Secrets Bible,
you will pay tens of thousands of hard-earned dollars in extra bills,
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Banks and other institutions who take
your money, ruin your credit or deny you the money you need are very
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more powerful they become. But they won't be able to hurt you anymore!
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