Money Saving Tips: debt reduction - billeater.com

Five Ways to Save Big Money in 2012

Guest Blogger — Wed, 18 Jan 2012 20:17:55 +0000

The beginning of the new year offers new opportunities to save money. By adopting a healthier attitude towards finances and spending habits, further financial burdens can be alleviated. Here are 5 recommended methods to saving money:Read the rest...

4 Ways To Help Your Budget

Jessica Bosari — Sun, 15 Jan 2012 01:00:00 +0000

As tough as the economy is these days we all are looking for ways to save money. Something that will help us all get to the end of the month a little bit more intact. When we are not looking to save a little money we are looking to make a couple of dollars wherever we can. I have rediscovered a few ways that might help everyone get over that financial hump a touch easier. The great thing is that most of my suggestions are also environmentally friendly.Read the rest...

4 Steps to Successful Money-Saving Habits

Jessica Bosari — Sat, 14 Jan 2012 03:58:32 +0000

The secret to saving money is by creating a successful, good habit. The grand things in life are often just out of reach because of price. The only way you will obtain the items you want, vacations you desire and the financial freedom you deserve is through short-term sacrifice of saving money to gain the long-term benefits of reaching your financial goals. This article will share the four essential steps of building a great habit of saving money successfully.Read the rest...

Saving Money in a Tight Economy: 7 Wonders of Personal Finance

Guest Blogger — Thu, 29 Dec 2011 13:00:00 +0000

Those in the personal finance industry can come up with some very creative thinking from time to time on different ways to better your fortunes. A little while back, a fellow posted on is website about how he managed to save $1,400 a month simply by moving house.Read the rest...

Not all Debts Are Bad

Jessica Bosari — Wed, 28 Dec 2011 01:00:00 +0000

One of the main problems with today's economy is that most Americans are in over their heads with debt. Credit card interest rates alone make up a huge chunk of the debt many consumers deal with from month to month. Many people are making car payments that last longer than the car they bought with the loan. With all that red ink, does the old idea of "good debt" still make sense?Read the rest...

Saving Money: Get Your Passive Spouse Involved in the Finances

Jessica Bosari — Fri, 23 Dec 2011 13:00:00 +0000

Spouses can be passive in many different ways. A husband who is actively involved in helping to raise the children might be passive when it comes to handling the household finances. While there are some benefits to one spouse taking care of all of the financial organization and decisions, the potential strain on the relationship when one partner refuses to participate in the finances can be extremely damaging.Read the rest...

Clean Up Your Finances This New Year

Guest Blogger — Tue, 13 Dec 2011 15:00:00 +0000

Is it time for you to set some New Year's resolutions? Many people look to exercise more, eat healthier and even spend more time with their family. But one of the most popular New Year resolutions involves a person's current financial situation. Just like other improvements, people want to clean up their finances and make sure that at the end of the year they are not still stuck with poor spending habits and a pile of debt.Read the rest...

Be a Smart College Student, Avoid These Money Mistakes

Mallory Hall — Thu, 08 Sep 2011 05:00:00 +0000

While many high school graduates are excited to be going off to college for the first time, with this newfound freedom comes huge financial responsibilities. Since you will finally be living on your own and trying to enhance your personal finance skills, the lessons you learn and the mistakes you make could impact you for the rest of your life. Be smart with your money and avoid making these mistakes:Read the rest...

7 Ways to Psych Yourself Rich

Jessica Bosari — Thu, 04 Aug 2011 05:00:00 +0000

Whether your goal is to pay down your credit card debt, save for retirement, or simply scrape together enough cash for a night on the town, saving money takes discipline and hard work. Some people feel so overwhelmed by the prospect of creating a financial plan and saving money that, instead of taking action, they freeze. People who allow fear to freeze them into financial passivity rarely achieve their monetary goals. Here are seven simple steps you can take to conquer your financial fears and start saving today.Read the rest...

Even the Whitehouse is Doing it...Sell Your Extra Stuff for Cash

Jessica Bosari — Fri, 29 Jul 2011 05:00:00 +0000

You know times are tough when Michelle Obama is tacking a couple “Garage Sale” signs out along Pennsylvania Avenue in Washington D.C., but that is pretty much what the White House is doing according to recent reports. Whereas you probably won’t see the First Lady out on the front lawn welcoming patrons to peruse the Obama’s wares, the White House recently made headlines by selling off excess property in effort to help pay the bills, as well as set the example for the rest of Americans to follow.Read the rest...

Debt Settlement: Two Times it Makes Sense

Jessica Bosari — Thu, 21 Jul 2011 05:00:00 +0000

In today’s economy, the question has shifted from families making ends meet, to what they can offload or settle to make those same ends meet. With the disappearance of the middle-class and country quickly dividing into the “haves” and “have nots”, people every day are scrambling to ensure they are on the sides of the “haves”. In their efforts, many individuals are settling whatever debt they are able to, taking the financial hit to their credit reports, and hoping to ride out the remainder of the recession with less debt on their shoulders.Read the rest...

Financial Education - Is it Working?

Jessica Bosari — Tue, 12 Jul 2011 15:20:13 +0000

Most agree that financial literacy is not a skill that comes innately to most. With the labyrinth of interest rates, taxes and financial products to navigate, financial education would seem like a valuable tool for guiding consumers into making responsible choices regarding their money. Yet, is it really working?Read the rest...

How to Save Money No Matter What!

Guest Blogger — Fri, 24 Jun 2011 16:41:03 +0000

With many societies experiencing tough times, the idea of saving may have been totally forgotten as families struggle just to keep up with the basic expenses. Saving is hard especially when there seem to be nothing left to set aside.

Nevertheless it is still wise to at least try and review what else can be trimmed off from the budget to get that extra amount for an emergency or retirement fund.Read the rest...

Spend Less and Shop Better When You Sell Your Stuff

Jessica Bosari — Wed, 22 Jun 2011 05:00:00 +0000

Are you an impulse shopper who is out of control with your spending? Do you feel like you should always have the latest gadgets or designer clothing, but know that you should not spend the money on them because they are items that you do not really need or cannot afford? If so, a new shopping strategy called spend what you sell may be the answer to saving you hundreds of dollars a year while still allowing you to buy some new items.Read the rest...

Bad with Money? Blame Your Brain

Jessica Bosari — Tue, 21 Jun 2011 02:53:28 +0000

It can sometimes be difficult to decide the value of a certain piece of merchandise and whether purchasing it is truly worth the cost. Scientists at the University of Pennsylvania have now determined the area of the brain that is responsible for making decisions about value. Tests utilizing functional magnetic imaging have identified the ventromedial frontal cortex as one of the most active areas when an individual is carrying out these tasks and therefore this area of the brain can be looked at as the area responsible for decisions made based on value.Read the rest...

Why Aren't You Saving Money Like This? Five Ways to Save

Heather Hollingsworth — Thu, 16 Jun 2011 05:00:00 +0000

If you have access to the internet at home or through your smart phone, you could be enjoying a completely new type of savings. Online memberships and coupon aggregate sites are popping up all over the internet. These sites make it easy to find the coupons or discounts that you will really use. Some of them will send the savings information directly to your social networking account. Others allow you to cash in on savings because you have agreed to join their site as a member. The nice thing about finding high tech deals is that the coupons and discounts can be personalized so you only receive information about products that actually interest you. You use the discounts more often because they apply to your life.Read the rest...

One Year Plan to Financial Health

Tim Iandoli — Wed, 08 Jun 2011 02:52:17 +0000

Creating a financial plan is a necessary tool in planning for a successful future. The first step is to create a rough outline of what your end goals are and a few targets to get there along the way. The following are a few things you need to keep in mind when drafting your first outline.

First, you need to gather your monthly bills such as; credit cards, cell/home phone bill, cable/satellite, insurances, mortgage and utilities. These bills are necessary as they keep your home running and your credit score inline Secondly, determine what weekly/monthly expenses are necessary such as; gas, groceries, and janitorial supplies and daycare if applicable. The last set of expenses come from luxuries; cigarettes, alcohol, dining out and shopping trips to the mall.Read the rest...

Bankruptcy: What You Need to Know

Cheryl Johnson — Thu, 02 Jun 2011 05:00:00 +0000

Filing personal bankruptcy is becoming more common, especially in this tough economy. Some of the stigma associated with bankruptcy has disappeared over time. People use it to wipe out debts, stave off foreclosure or just start over. Still, while it’s nothing to be ashamed of if you feel it’s your best option, you need to be aware of the ramifications of filing. It affects your credit report for 7-10 years and can negatively impact interest rates on credit cards and loans and even insurance premiums. Bankruptcy can negatively influence prospective employers. It also usually won’t eliminate child support, most student loans or taxes owed.Read the rest...

How to Reduce Credit Card Debt Fast

Guest Blogger — Wed, 13 Apr 2011 19:16:41 +0000

Credit cards can be a great asset as they allow you to have access to a line of credit that you may not have otherwise if it were not for the credit card. Used right they can really aid your cash flow each month. On the other hand, if you have already accessed this line of credit and find yourself now in the position of having to pay this debt back and want to do if fast, then there are some things you can do speed up the paying-back process (which will also save you lots of money on interest payments!).Read the rest...

Need it? Want it? Five Tips to Help You Be Honest with Yourself

Heather Hollingsworth — Fri, 08 Apr 2011 16:18:02 +0000

There is a fine line between what you need and what you want sometimes. Do you need cable service? Or can you get by with a less expensive option? Is it necessary to purchase a laptop when you do most of your work on your desktop that is in great shape? Separating what is a need from what is a want can be painful, but it can help you stay on budget so that you can afford the things that are really important to you in the long run.Read the rest...

3 Ways Insurance Helps You Get Out and Stay Out of Debt

Guest Blogger — Wed, 09 Mar 2011 00:44:43 +0000

An insurance policy is a contract that protects you financially in case you are caught in an unforeseen situation. Thus, insurance policies are there to cover for all the times that you are involved in a risky situation. You should also remember that your insurance may also help you if the financial disaster that is affecting you is debt. Thus, if you are in debt, then you can make use of your insurance to provide you relief from it instead of using various debt solutions such as the consolidation of debt. Read the rest...

Americans Finally Get It, But Is Saving Money Slowing Recovery?

Heather Hollingsworth — Thu, 03 Mar 2011 06:00:00 +0000

The numbers show that Americans took home more money in January than economists had expected. The 1% gain in income was much higher than the 0.3% that most analysts were calling for at the beginning of the year. Changes in taxes are responsible for the majority of the extra cash that workers took home. Unfortunately, the rise in income hasn't resulted in a large advance for the economy, which is still holding steady at old levels.Read the rest...

Credit Repair after Divorce

Jessica Bosari — Tue, 01 Feb 2011 21:38:14 +0000

If marriage is the most beautiful relationship between soulmates, divorce must be the ugliest. Even an amicable split can leave the finances of both parties in ruin. No longer is there another income to pay half the bills. More often than not, the credit rating of each spouse falls to shambles.Read the rest...

Three Important Credit Card Consolidation Myths

Guest Blogger — Mon, 31 Jan 2011 14:08:17 +0000

When you have a lot of credit cards, you look for debt relief options to get rid of these debts. But you need to remember that you must have correct information before you enroll into any of these programs. You may come under lot misconceptions that may put you into more financial troubles. These myths need to be explained so that you don’t fall into further debts. Before you go for credit card consolidation, you must get all your myths explained.Read the rest...

Tips on Renting A Room For Extra Income

Guest Blogger — Thu, 20 Jan 2011 18:14:32 +0000

With the economy as it is and the job market in a bit of a slump, people are doing whatever they can to save a few dollars or make a few extra. Ebay, Craigslist, and similar sites are doing very well as people try to sell their belongings and long-kept valuables that are now antiques or collectibles. Hard times usually bring about creative means to make ends meet or to supplement regular incomes. One avenue explored by many homeowners is renting a room in their home; either to a friend or oftentimes a stranger. This can be beneficial to both parties or it could be a disaster for either or both parties.Read the rest...

Resolved to Organize your Finances? How to Make it Work

Heather Hollingsworth — Wed, 05 Jan 2011 14:36:52 +0000

Keeping your finances organized can help you stay on budget and keep track of your spending. It can also be a daunting task if you haven't been organized all along. Many people plan to organize their finances, but never seem to get around to it. The idea of digging through all of the documents from previous years and sorting it neatly can be overwhelming. If you have been putting off financial organization, this is the perfect time to tackle the beast. Since you have to put your taxes together anyway, why not take a little extra time to put it all together in an organized fashion?Read the rest...

3 Steps to Successfully Renegotiate Your Rent

Fletcher Martin — Tue, 14 Dec 2010 12:39:07 +0000

Unless you’ve been featured in Forbes, you probably have rent or mortgage payments that have become a bit harder to handle since the recession hit. Thousands of renters out there continue to pay more every year because the landlord wants to account for “inflation.”Read the rest...

How to Handle Mixed Financial Messages

Fletcher Martin — Thu, 09 Dec 2010 20:52:57 +0000

We live in a society that snatches up new ideas and runs with them, without necessarily taking the time to assess the value of them. The unfortunate truth is that not every idea or opinion you or anyone else has is a great one or even halfway acceptable. This is part of the reason we hear so many mixed messages when it comes to financial advice.Read the rest...

Emergency Fund vs Credit Card Debt: What’s the Top Priority?

Fletcher Martin — Wed, 08 Dec 2010 12:16:44 +0000

Is it better to start an emergency fund or pay off your debt as quickly as possible? If you are anything like most human beings, you want a definitive push in one direction or the other. Most financial advisors and ten-year-old kids can tell you which is better to go with by simply looking at the numbers. However, like all things in life, it is not quite so simple. This is a great example of people thinking the world is in black and white.Read the rest...

Debt Free with No Clue? How to Manage Your New Found Freedom

Fletcher Martin — Tue, 07 Dec 2010 13:55:20 +0000

Congratulations! After being in debt for what probably seemed like an eternity, you are finally completely free from all debt. Now you’re probably wondering what you should do from here, right? A common problem for those newly freed from debt is what to do with their new found financial freedom.Read the rest...

Seasonal Jobs That Can Inject Some Life into Your Savings Account

Jessica Bosari — Tue, 26 Oct 2010 20:39:39 +0000

People have experienced many financial hardships linked to the current economic situation. Many lost jobs or endured deceased working hours. Many individuals exhausted unemployment and savings resources. The necessity to tighten budgets and reduce consumer spending leaves families without a means to replenish savings or retirement accounts, pay down debt or indulge in a simple night out. Financial experts encourage individuals toward generating some form of supplemental income to accelerate debt repayment and to replenish or resume savings accounts.Read the rest...

Techniques to Pay Down Debt: Math or Emotion? They Both Work!

Jessica Bosari — Thu, 21 Oct 2010 13:57:16 +0000

The current economic situation caught millions of Americans off guard. However, the circumstances may well be the motivation that encourages people toward permanently eliminating debt from households. Statistics indicate that consumer debt surpasses $2 trillion and that mortgage debt exceeds this amount by 4 times. In some locations, unemployment escalated to over 15%. Overall, jobs are in short supply and many positions no longer exist.

Read the rest...

Want to Be Debt Free? Fake It Till You Make It!

Jessica Bosari — Wed, 20 Oct 2010 15:26:28 +0000

Everyone has heard the adages about how you live your life. You are what you eat. You are judged by the company you keep, and so on. Many of these philosophies also apply to financial success. Fake it till you make it is the strongest of them all. You might be thinking that acting like a wealthy person means you should run out and buy luxurious toys and take expensive vacations but that’s not how wealthy people really live. That’s how people who had wealth and lost it all do it.Read the rest...

What to do When the Financial Road Gets Rocky

Jessica Bosari — Tue, 19 Oct 2010 15:23:11 +0000

Most people learn from an early age that devising a plan helps in accomplishing goals. People methodically research what time and efforts an accomplishment requires and proceed to follow the necessary steps involved in reaching the desired result. This philosophy also applies to the financial world. A fundamental rule for achieving profitable finances involves having a strategy. But it’s never sunny all the time. Unexpected situations may temporarily derail objectives, but it is important to know what to do when the financial road gets rocky.Read the rest...

Top Ten Signs You Need a Financial Makeover

Jessica Bosari — Tue, 12 Oct 2010 15:06:21 +0000

Not unlike facing parents after mischievous events or having to pull weeds on the weekend, dealing with financial problems is an unpleasant task. Sticking one’s head in the sand and hoping it will all go away, does not solve the problem. The effects of procrastination only compound the dilemma. Curtail financial devastation by recognizing early warning signals and adopting a proactive approach. Learn the top ten signs you need a financial makeover.Read the rest...

The Do's and Dont's of Personal Finance

Jessica Bosari — Fri, 08 Oct 2010 16:00:46 +0000

When you think about your personal finances, you have to think about what works best for you. The same thing that works well for one person may not yield the same results for the next person.

However, there are do’s and don’ts that all individuals should pay attention to regarding their finances. Here’s a list of things that you should implement into your personal finance strategies, and some things you should avoid at all possible costs.Read the rest...

The No-Student-Loan College Education: How to Make it Work

dlawwill — Mon, 27 Sep 2010 20:38:16 +0000

Student loans are an unfortunate reality for many new college graduates. Another stressor for new graduates is the wondering of how they will pay their loans back without suitable employment. Fortunately, student loans are not the only option for paying for college. If you’re ready to enter college but don’t want to take on an enormous burden of student loan debt upon graduation, learn ways in which you can attend college without taking out expensive student loans.Read the rest...

Save Over $5,000 on Your Car Loan with MoneyAisle

MoneyAisle.com — Tue, 21 Sep 2010 17:42:46 +0000

These days, people are looking into new and easy ways to save money. Whether it is a coupon for groceries or cutting back on eating out, gas consumption, usage of electricity – you name it, people are doing it. Americans are becoming savvier shoppers, interested in living their lives, but in a more responsible way. These saving efforts don’t have to be limited to material items or the obvious cuts around bills. Another way people are saving is by refinancing, which saves quite a lot of money for only a little bit of work.Read the rest...

Taking the Plunge Into Dumpster Diving: Do it Right, Get Free Stuff

Guest Blogger — Fri, 27 Aug 2010 18:16:39 +0000

Ewww! You might think. Dumpster diving? Climbing into a big box full of people’s trash is not for everyone, but that’s not what dumpster divers really do anyway. By using some common sense and keeping your wits about you, you’ll find used but useful items, some of which may even be valuable. It's an environmentally sustainable practice that saves money and reduces landfill waste. Here are some tips for embarking on your treasure hunt:Read the rest...

What to Do When You're Saving too Much Stuff

Jessica Bosari — Thu, 26 Aug 2010 14:15:15 +0000

Skokie, Illinois fire rescuers recently drilled a hole in the ceiling to rescue an 82 year-old woman from her apartment. They couldn’t use the door because the space was piled to the ceiling with hoarded stuff. Earlier this year, an El Paso, Texas woman died by fire when the newspapers she had hoarded fed the flames. Firefighters couldn’t get through the clutter to save her. These may sound like extreme cases, but hoarding is becoming an ever-increasing problem. Those who find themselves in cluttered surroundings could end up like one of these women if they don’t take steps to clear up the clutter now.Read the rest...

Living on One Income: How to Make it Work

Jessica Bosari — Wed, 11 Aug 2010 13:59:51 +0000

Even in the best of financial times, living on one income is a challenge. From necessities like food, shelter, clothing, medical bills, transportation, and taxes to "wants" like entertainment and leisure, the drains on a family's financial resources are many.

This is especially true in this American society built upon conspicuous consumption. Living frugally can seem impossible and unfair, especially when it seems that so many other people live wasteful lives. How does a family manage not only to survive, but to prosper with only one income?

Read the rest...

Guest Post from In the Trenches: Set Your First Financial Goal

Carol Schultz-Weil — Wed, 11 Aug 2010 01:09:18 +0000

Today's guest post is from Carol Schultz-Weil, author of In The Trenches, a personal finance survival guide intended to help people just like you overcome past financial disasters to build a better and stronger financial future.

Life is like a treadmill…if we don’t make a conscious effort to keep moving forward, we will automatically begin to slide backward.

This is true of every area in our lives, whether it be relationships, health, finances, or even house cleaning. The momentum of our decline can even speed up when unexpected tragedies and events occur. I wrote In The Trenches to help others keep moving forward rather than sinking backwards.

In The Trenches, what does that sound like to you? The term it is one commonly associated with the military and conjures associations of a battlefront. Indeed, In The Trenches is a defensive posture with an offensive goal. "How does it apply to finances?" you may wonder? Read the rest...

3 Personal Finance Software Solutions for the Monetarily Challenged

Jessica Bosari — Tue, 20 Jul 2010 18:34:10 +0000

Let’s face it. We’re not all financial geniuses. Some of us need help in figuring out budgets and sticking to financial plans. One way to get help is to use financial software that helps you with the mathematics, planning and decision making involved in personal financial planning. By getting familiar with the different types of software out there, you can choose the program that is right for you and your needs. Read the rest...

Five Good Reasons to Dip Into Your Emergency Fund

Jessica Bosari — Mon, 19 Jul 2010 20:29:57 +0000

Hopefully you have a fund containing enough to cover your regular living expenses for at least three months. Such emergency funds have never been more important than now. If you haven’t yet been forced to dip into that account, you’re probably one of those contemplating it after a layoff or as the bills get harder to pay every month. At what point is your situation an emergency? When should you throw in the towel and accept that you need to use some of that emergency money you have been stashing away?Read the rest...

How To Get Out Of An Upside Down Car Loan

Jessica Bosari — Mon, 12 Jul 2010 16:27:50 +0000

What can you do if you are caught in a car you cannot afford? First, you'll probably end up with an upside down car loan. Longer term loans, like the six-year loan in the example, are appealing to many people because it means a lower payment. Many car buyers believe it’s a way for them to buy more car without breaking the budget. The flip side of longer loans, though, is that while you do have a lower payment, you’re also building less equity. Especially with new cars, where the value drops so quickly after the purchase, the value of the vehicle is dropping faster than the balance due on the car loan, leaving you upside down.Read the rest...

5 Painless Ways to Save Money

Jessica Bosari — Wed, 07 Jul 2010 18:05:38 +0000

Guilt makes you want to slow your spending. Anxiety makes you want to save towards a nest egg. But the process of alleviating these feelings takes so long to show progress, we often feel used and abused before we ever experience relief from our guilt and anxiety. In the beginning of any savings plan, you are likely to feel the same guilt and anxiety that overspending brought you, with the added negative feelings brought on by restricting your spending. So until you can get some positive reinforcement going, it's smart to practice some simple saving tricks that leave you feeling less deprived. Here are 5 painless ways to save that may help you get the ball rolling:Read the rest...

Avoid Strategic Default Penalties: What You Need to do Now

Jessica Bosari — Tue, 06 Jul 2010 11:48:01 +0000

In June 2010, Fannie Mae increased their efforts in spreading a public relations campaign that urged against strategic default and discussed the possible penalties of engaging in a strategic default. Fannie May, or the Federal National Mortgage Association, is a mortgage finance broker owned by the government that stated it would soon start taking legal action against debtors who had chosen to leave behind mortgages despite having the ability to pay them. Fannie Mae also indicated it would change the waiting period for borrowers who wished to receive a new loan after they had experienced a foreclosure from five years to seven years. This policy would affect all borrowers seeking new loans after foreclosures unless borrowers could show to their prospective lender that they had defaulted on their initial loans due to fiscal hardship. Borrowers would also have to had contacted their lenders and sought a workout.Read the rest...

5 Tips for Saving Money the Old Fashioned Way

Jessica Bosari — Thu, 01 Jul 2010 00:14:38 +0000

In a time of high tech, many of us are surprised to find that the old ways are still the best ways when it comes to saving money. The same things that helped our great grandparents through the Great Depression can help us now. Our troubles today are nothing compared to life then, so imagine how much more powerful their techniques can be for us now. Here are five time-tested, proven ways to save money that will probably never change. Read the rest...

Four Money-Saving Fails: What Went Wrong Here?

Jessica Bosari — Tue, 29 Jun 2010 15:34:52 +0000

Everyone has a money saving style. Unless you're filthy rich and money is not much of a concern, everyone thinks about ways to save. Some people clip coupons, some relish in promotional offers, and others just grab the cheapest product they can find. Some methods work better than others when it comes to saving money. Here are a few examples of common money-saving techniques that often fail.
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10 Sneaky Ways to Save Money

Jessica Bosari — Tue, 29 Jun 2010 00:06:04 +0000

There is no time like right now to take a good hard look at your personal finances and make saving money a goal. The following sneaky little tips and tricks can help you get past that mental hurdle that stops you from growing your savings by helping you avoid the negative emotions associated with saving money. Whether its tricking yourself into spending avoidance or getting little extra bang for your buck, the emotional boost that you get when savings starts to grow makes saving money easier to stay with. Read the rest...

Hate budgets? How to Save Money Anyway

Jessica Bosari — Sun, 27 Jun 2010 19:26:33 +0000

Read the rest...

The word ‘budget’ can sometimes be intimidating. It means that you will have to watch what you are spending and account for where your money goes. Many people will say that drawing up a budget can be just as difficult as following it. "Budget" may feel like a four letter word, but it doesn't have to.

6 Ways to Gather Snow Flakes in Summer

Jessica Bosari — Thu, 24 Jun 2010 23:31:54 +0000

As Americans become increasingly serious about living in a debt free environment, the concepts of snowballing and snowflaking continue to gain popularity. In fact, people who have accumulated and carried substantial consumer debt for decades have experienced savings growth and debt elimination by practicing these simple techniques.Read the rest...

How to Live Happily Ever After: Tips for a Financially Sound Marriage

Jessica Bosari — Wed, 23 Jun 2010 01:27:36 +0000

According to a study by Smart Money and Redbook magazine, 70% of married couples argue about money. In fact, it’s the culprit in about 50% of the marriages that fail. This problem stems from the fact that in most relationships, there is a “spender” and a “saver.” Without proper communication, these two personalities can clash, leading to arguments, stress and unfortunately divorce. Most psychologists agree that having a financially healthy relationship begins before couples tie the knot, and the following tips and ideas can help couples get on and stay on the same page regarding money.Read the rest...

Trying to Save Money But Don't Know Where to Start? How to Prioritize.

Jessica Bosari — Wed, 16 Jun 2010 01:06:50 +0000

In tough times, saving money becomes a new priority among consumers. Indeed, the aftermath of the 2008 credit crunch made a lot of us begin thinking more seriously about how we can cut expenses. As a result, the savings rate among consumers inched upwards from zero for the first time in several years. For consumers struggling under intense debt loads, such news is hardly reassuring. Their priority is to get out from under the weight of their debt. How can they do that if every spare cent goes to making the minimum payments every month? This is not the time to be baby-stepping your money goals. By prioritizing your bills, you can knock off some big debt quickly and start saving sooner.Read the rest...

7 Ways to Consolidate Your Debt

Jessica Bosari — Sun, 13 Jun 2010 14:31:41 +0000

These days, it’s hard to look at debt consolidation options without getting a heavy sales pitch. The industry as a whole is known for seedy offers that are a better deal for the debt consolidation companies than for the consumer. But when used wisely, debt consolidation helps people save money by reducing the cost of interest on borrowed money. The savings can help you put more money towards the debt and eventually pay it off more quickly than you otherwise could.Read the rest...

Money Savings Strategies to Reduce Your Debt and Your Stress

Jessica Bosari — Tue, 01 Jun 2010 17:37:04 +0000

Ever wonder how it is that you manage to spend all your money without noticing? Ever considered why you can’t save no matter how many raises you get? You can blame the economy, inflation and the cost of living, but sooner or later, you must face facts. The only thing stopping you from saving is you. Take charge of your finances with these savings strategies.Read the rest...

At risk of home foreclosure ? Get the right kind of help.

billeater — Fri, 28 May 2010 21:59:04 +0000

Unfortunately, foreclosures are continuing to plague the market. Today, home of borrowers who had secure, fixed rate 30-year mortgages are even in danger because of job loss and rising expenses. If you are having debt problems, and are at risk of home foreclosure, turn to the right kind of help. Unfortunately, there are a lot of places out there claiming they want to help you that aren't sincere.

What many "foreclosure rescue" professionals are really after is a bargain basement price on your home. You may see ads presented to look like real news reports saying the government has implemented plans to help you. They use such veiled half truths and sometimes, outright lies, to sell you on services that promise quick relief. Their main goal is to make a quick buck via the fees or mortgage payments they collect from you, and they may not not pass these fees on to the lender. Even worse, there are some scams, where they can assume ownership of your home by deceiving you.

So, what to do then? How can you make sure you're getting the right kind of help?Read the rest...

Bill Consolidation: A DIY Guide

billeater — Sun, 23 May 2010 14:51:49 +0000

Taking on bill consolidation by yourself? You've likely seen the ads for companies that offer to consolidate all of your monthly payments into one payment with an overall lower interest rate and payment amount. The allure of bill consolidation is high, but many of these companies are not reputable, and even those that are will charge you handsomely for the service. What if there was a way to achieve the same result by doing it yourself?

Well, there is a way to do it yourself, but there's no real magic. Just some good old-fashioned analysis to see how big the problem is, a plan to address the problem, and then starting the real work. Here's some guidance on how to get started with a DIY bill consolidation project.Read the rest...

Sign of the Times - Interest Free Purchases Not as Great as They Once Were...

Jessica Bosari — Tue, 18 May 2010 22:09:48 +0000

Back in October 2008, one Billeater writer had a great idea: Get free money by using interest free offers on major purchases and investing the cost of the purchase in a CD. At that time, it was common for furniture stores, home improvements stores, and electronic stores to offer big ticket items like couches, plasma televisions, and appliances on a 12 month, no interest plan. The economy was slouching and they had to do something to pull in consumers.

Back then, the 4.8% 12-month CD rate meant you could take the money you were going to spend, and put it into a CD, and pocket the interest earnings. A $5,000 purchase would net you $209.72 worth of interest. It just goes to how you how much things have changed...Read the rest...

Are These Six Habits Leading You Towards Bankruptcy?

Dan Early — Sat, 08 May 2010 15:22:24 +0000

With bankruptcy filings at record highs, it is important to look at some of the habits that lead people into bankruptcy. One of the most obvious financial habits that will cause someone to become bankrupt is spending more than you earn, but the problem is more complicated than that. Here are six habits that could be leading you down the road to bankruptcy if you are not careful.Read the rest...

Do You Qualify for Bankruptcy?

Tue, 27 Apr 2010 09:35:46 +0000

Bankruptcy is something that many people talk about but few people understand. We always hear about companies going bankrupt and we wonder what that means. Even Donald Trump has gone bankrupt, but he's still one of the most recognized billionaires today. Few people actually understand the basics of filing bankruptcy and its ramifications.

Personal bankruptcy often occurs when someone has acquired an insurmountable debt that they cannot pay. There are basically two main types of bankruptcy that an individual can file to help manage their debts.Read the rest...

Five No-Fail Debt Reduction Techniques

Jessica Bosari — Wed, 21 Apr 2010 15:59:24 +0000

Debt ruins lives and destroys our ability to finance our futures. For those buried under a mountain of bills and interest payments, the key is to find ways to reduce debt. Lowering debt levels isn’t always easy but can be achieved provided you’re disciplined and apply these five proven debt reduction techniques.Read the rest...

What You Need to Know About Taxes and the Mortgage Debt Relief Act of 2007

Jessica Bosari — Fri, 09 Apr 2010 15:05:34 +0000

According to Time Magazine, bankruptcy filings are up 35% from the year before. Many people have found relief in short sales and debt forgiveness, but this can lead to concerns about the tax implications. Not to worry, Uncle Sam has your back when it comes to default debt resolution.

How Forgiven Debt Affects Your Income Taxes

A Supreme Court ruling in 1931 established a precedent for borrowers’ obligations to pay tax on cancelled debt, just as if it were regular income. The decision was reaffirmed in 2005 on the basis that the taxpayer realizes an increase in income when debt is forgiven. You had more money in your pocket and Uncle Sam wanted his cut, but that has changed.Read the rest...

The Extra Benefits of Budgeting in Cash

billeater — Sat, 03 Apr 2010 00:35:48 +0000

There are many benefits of using cash, as an allowance, to budget your spending. The most obvious is, of course, that by spending cash only, you immediately eliminate interest or fees. These could accumulate if the same purchases were made on a credit card, or using a debit card to make your checking account overdrawn. Besides this immediate advantage, other benefits of giving yourself a cash allowance include:Read the rest...

How to Modify Your Troubled Mortgage

billeater — Tue, 30 Mar 2010 11:04:55 +0000

If you are having trouble paying your mortgage and are in danger of losing your home, you may be wondering how things got so bad and how you can keep your home. You may have heard stories about lost paperwork and denied loan modifications. While it's true there have been difficulties, lenders do want to help you.

The Troubled Mortgage Problem

The steep economic downturn left both borrowers and lenders alike unprepared for the fallout. When the housing market collapsed, people were unable to sell the homes they could no longer afford to keep. Many people also found they owed more than their homes were worth.Read the rest...

"America Saves Week" goes unnoticed...

Jessica Bosari — Wed, 24 Mar 2010 21:45:33 +0000

Even diligent money savers sometimes miss important events that can help them meet their financial goals. One such event was America Saves Week that took place February 21st – 28th, 2010. The event has been taking place every February since 2007. Why has such an important event gone largely unnoticed? It staggers the imagination to understand why a country in the midst of a financial crisis would miss the resources offered by this vital opportunity. There was only a smattering of mentions in the major news media about America Saves Week, despite the organizations efforts at outreach.

Americans Are Saving Less Read the rest...

Spending Plan: Getting your spouse on board...

Jessica Bosari — Sun, 21 Mar 2010 20:43:23 +0000

Often money problems sneak up on a couple. You may pride yourself on being careful with money, without knowing what that really means. Meanwhile, the debts pile up on your untested virtue. Eventually, you realize you are not the spendthrift you thought you were. When that realization comes, you’ve got more than some self-improvement issues to tackle, you’ve got to convince your spouse of the problem and get him or her on board to help.

Getting into debt is usually the result of a misallocation between your wants and needs. Many of us see things like hair color, nail polish, makeup, several pairs of shoes and a closet full of clothes as necessary to our careers. Yet there are many ways to look professional at work affordably, if we only set saving money as a higher priority.Read the rest...

Debt Assistance: Avoid advice from the TV

Mon, 15 Mar 2010 00:55:16 +0000

If you lay await at night worrying about your credit card debt, here’s a bit of advice: Don’t turn on the TV. Because that’s prime time for all the debt negotiation and settlement companies that advertise they can solve your credit card problems. In reality, some of these companies could make them a lot worse.

There are two types of debt assistance: debt counseling/management, and debt negotiation/settlement. The best advice is to seek out the services of debt counseling/management, as these agencies should be registered as a 501-C-3 non-profit agency. Read the rest...

Does Debt Settlement Save You Money?

debbiedragon — Thu, 04 Mar 2010 15:15:46 +0000

There is currently a lot of controversy over whether or not debt settlement works as a debt elimination strategy. Many states are considering regulating debt settlement companies as a result of an increase in consumer complaints. Several other states have already taken action to limit the damage debt settlement companies can cause for unsuspecting consumers. If you are considering debt settlement as an option to get out of high interest debt, there are some things you should know before proceeding. Here we look at questions you should be asking before you decide if debt settlement is right for your situation.
Read the rest...

What do to when you can't pay a bill

Sat, 23 Jan 2010 22:37:43 +0000

It’s getting towards the end of the month and you’re short on money. It could be your mortgage, your car, or a credit card payment that’s going to get the squeeze. What do you do?

As a general rule, most lenders don’t take collections action until a payment is at least five days overdue, which allows for any mailing snafus. And in most cases, a lender is not likely to repossess your car after one missed payment. After all, he doesn’t want your car; he wants the money you owe him.

There are two things you should know if you are ever in this situation:Read the rest...

Old School Ways Still Save Money

debbiedragon — Fri, 22 Jan 2010 20:41:33 +0000

Everyone is looking for new and creative ways to save money these days. You don’t need to devise an elaborate budget that will have your family wondering if you’ve turned into Ebenezer Scrooge overnight. Some times the best ways to save are the same things people have been doing for years - before 'frugal' was a cool word.
Here are 10 quick and painless ways to save some money right now:Read the rest...

2010 Personal Finance Essentials: What You Need to Know

debbiedragon — Thu, 07 Jan 2010 20:31:43 +0000

2009 will go down in the books as one of the worst global economic down turns in history. Home foreclosures and job losses are at record levels. Consumer spending is down and credit card debt is up causing a bleak economic and financial picture. A new year provides a fresh outlook. There are some positive trends and opportunities to look forward to in 2010.

Home Buyer Tax Credit

Read the rest...

New Year, Old-Fashioned Way to Save in 2010 and Beyond

debbiedragon — Wed, 30 Dec 2009 16:33:27 +0000

As kids, it seemed as though our parents and grandparents seemed to have some pretty crazy ideas for saving a few pennies. What did they do with all of thoseread bags that they just had to save? But in today’s cost-conscious climate, some of those ideas don’t sound so crazy—in fact, many of them seem to make a lot of sense. So, take a page out of your grandma’s book and try a few of these money-saving tips. She would be proud of you.Read the rest...

Debt Reduction Strategies For The New Year

debbiedragon — Sat, 26 Dec 2009 19:58:55 +0000

With the start of a new year just days away, many people are vowing to change the way they manage their personal finances in coming months. If you are making financial resolutions for 2010 there are several things you can do to increase your chances of success. First and foremost, make resolutions which can be realistically achieved. This can be done by setting both short and long term financial goals which allows you to focus on each step needed to reach success. By making realistic goals you are more likely to stick to your plan versus becoming frustrated and giving up. Here are a few things you can do in the next twelve months that will improve your finances and contribute to the success of your long term financial goals.
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Tips For Managing Your Money After Debt

debbiedragon — Thu, 19 Nov 2009 01:10:30 +0000

The journey to debt free living is both long and difficult but there is a light at the end of the tunnel. After successfully eliminating your debt you can begin to enjoy the freedom of living a life without the constant fear and frustration that comes hand-in-hand with debt. Without the burden of debt you can begin working toward other financial goals that were unattainable when all of your income was tied up with debt payments. Consumers who are "used" to being in debt often do not know what to do with their money once the debt is finally eliminated from their lives. Here are a few money management tips for those who have recently eliminated debt from their lives.Read the rest...

Proceed With Caution After Opting Out Of Higher Credit Card Interest Rates

debbiedragon — Tue, 03 Nov 2009 16:41:14 +0000

In the span of just a few years consumers have dramatically changed how they manage their personal finances. Regrettably some of these changes came too late to avoid certain financial disasters, nevertheless consumers have options moving forward that reduce the chances of repeating the same mistakes. One of the biggest challenges facing individuals today is eliminating high interest credit card debt. In many cases the balances carried on credit cards have taken years to build and will take years to pay off.
Read the rest...

Small Payments Add Up Quickly To Reduce Debt

debbiedragon — Wed, 28 Oct 2009 03:52:49 +0000

Millions of consumers share the common goal of getting out of debt. With this goal, they also share the frustration that accompanies debt elimination strategies that are popular today. There are many different methods of debt repayment that have proven to be successful for consumers who have waged this battle in the past. It is important however for each person to find a strategy that works for their unique financial situation. Though varied, each payment strategy has one common denominator: making payments.Read the rest...

How To Determine The Best Debt Elimination Strategy

debbiedragon — Thu, 08 Oct 2009 13:56:13 +0000

Getting out of debt is a common goal shared by millions of people. The journey to a life of debt free living is often long and filled with numerous obstacles. The people who have made the journey before you are living proof that life without debt is possible. In order to be successful you must first understand that the best way to eliminate debt is not the same for every person. All to often a person who is desperate to eliminate debt will jump at any opportunity to get the process started. While it is true that each day you carry high interest debt costs you money that could be used elsewhere, acting impulsively when selecting your debt elimination strategy can cost you more in the long run.Read the rest...

5 Steps For Developing Your Own Debt Relief Plan

debbiedragon — Wed, 23 Sep 2009 12:42:54 +0000

If credit card debt is causing you stress, then it's time to take action. No matter how much or how little you owe, the best time to start paying down your bills is right now.

Don't wait for your raise or promotion at work. Don't wait until after the holidays. Don't wait until you get a better job. And especially don't wait until you win the lottery! Each day you wait, is one day wasted.

Sure, getting out of debt is not easy. It takes some sacrifice. And some hard work. And you certainly won't get out of debt overnight.

But like the old saying goes, "a journey of a thousand miles begins with a single step."

So, are you ready to take your first step? If so, here's how you can develop your own debt relief plan:Read the rest...

Do You Know What Kind of Debt You Have?

debbiedragon — Fri, 04 Sep 2009 21:30:25 +0000

While people think about the bills they pay each month and begin to wonder how they will continue meeting their monthly obligations, some will consider filing bankruptcy in order to get a fresh start financially. Many who do intend to file bankruptcy figure all of the debts will be resolved and they get to start with a clean slate. However, bankruptcy is usually the last recommended strategy for solving debts.Read the rest...

How To Avoid The Dangers Of Debt Consolidation Loans

debbiedragon — Fri, 28 Aug 2009 14:22:25 +0000

The average American family is currently facing thousands of dollars in unpaid high interest credit card debt with many having no idea how they will get back on track financially. There is a light at the end of the tunnel in that the economy is poised for recovery, however it will takes months, if not years for some people to find the financial security that comes with being debt free.Read the rest...

Stop Dragging Your Feet: Get Out of Debt Now

billeater — Sun, 21 Jun 2009 14:55:29 +0000

With the number of Americans losing their jobs growing at a staggering rate, it's no wonder that some people who are deep in debt are running away from it instead of meeting it head on. Even when your debt is overwhelming, letting it get out of control is only going to make the problem bigger and more difficult down the line because debt will never just “go away” no matter how much you might wish it to!

It's time to stop dragging your feet and take action to get out of debt now. Here's what you can do:Read the rest...

Sensible Steps to Getting Out of the Cycle of Debt

MikeV — Wed, 22 Apr 2009 21:58:10 +0000

Everyone right now has been focused on the economy and how it affects everyone - the nation, the giant corporation, and the individual. Debt has gotten out of control and people and companies are feeling the pinch - and the loss of sleep at night. While most of us cannot do anything about the national debt or the economy, you can do something about your own debt that will enable you to sleep better.Read the rest...

Avoid Debt Reduction Scams

billeater — Fri, 10 Apr 2009 23:47:52 +0000

The debt reduction vultures are circling. Yep, it's a shame, but bad economic conditions are great times for a certain breed of company that preys on the financially weak.

The Federal Trade commission has gone after companies citing the following examples of fraudulent business practices:Read the rest...

misrepresenting how much they could reduce consumers’ debt
not disclosing to customers that taking their advice to stop paying creditors would likely get them sued
not disclosing that account balances would grow from interest, rate increases, late fees, and other charges
falsely advising their customers that negative entries on their credit reports from participating in these programs would be removed once the program was completed.

Getting out of Debt: The Debt Avalanche

billeater — Mon, 02 Mar 2009 19:25:44 +0000

There are a number of methods you can use to get out of debt. Probably the most commonly known method was made popular by Dave Ramsey; the Debt Snowball. The snowball is a useful method for digging out of debt which involves paying your smallest balance first to provide quick rewards. Having an account paid off quickly helps motivate you to keep going, and with each debt you pay off you free up more money to make payments on other debts (sort of like a snowball rolling down the hill – as it picks up momentum it gets larger).

The only downside of the debt snowball is that you typically pay more interest and over a longer period of time than you would if you used an interest-rate based method of repaying your debts– like the Debt Avalanche.Read the rest...

Debt Reduction - Don't fall for the minimum payment due

billeater — Sat, 07 Feb 2009 16:30:38 +0000

Credit card debt is one of the most expensive, and hence, most difficult debts to overcome. One of the most misunderstood aspects of credit card debt is the minimum payment, or "minimum amount due". Many, if not most, consumers think that paying the minimum payment on their credit card bills is the best practice, and if they do so, their credit card balances will be paid off in a reasonable amount of time. What they don't know is that credit card debt, on average, takes three times as long to pay off as a conventional loan. A balance of $2500 could easily end up costing $10,000 or more once it's finally paid off.

Read the rest...

Fantastic Video on the Credit Crisis from Jonathan Jarvis

billeater — Wed, 28 Jan 2009 15:58:36 +0000

Found this fantastic video from Jonathan Jarvis of crisisofcredit.com. Explains, in very simple terms, how the greed of Wall Street raided the pockets of Main Street. Jonathan is a graduate student, and is having a bit of trouble with his bandwidth bill. So, if you like the video, consider visiting his site and making a donation or buying a t-shirt. Read the rest...

Don’t Forget about Your Credit Health In 2009

billeater — Wed, 07 Jan 2009 03:06:02 +0000

We tend to make New Year’s Resolutions to get fit or get out of debt, but few of us make a conscious decision to improve our credit.

This guest post by Kenneth Lin, CEO and Founder of Credit Karma

Jeff Strain from TheStreet.com estimates that poor credit could cost a consumer over $1 million dollars in extra interest and fees over their lifetime, so shouldn’t this be at the top of your New Year’s list? Improving your credit will take time so a now is the perfect time to get started.

Here are some tips for a better 2009...Read the rest...

Debt Reduction Strategies

MikeV — Sat, 03 Jan 2009 06:00:00 +0000

Getting out of debt is something that everyone ought to strive for. In a volatile economy, it is very important to steer clear of debt so that you stay afloat. Here are some important debt reduction tips that will enable you to get a grip on your finances and live debt free.

Put a Good Budget in PlaceRead the rest...

Prepay your loan interest and save thousands on debt

billeater — Sat, 20 Dec 2008 02:20:13 +0000

Choosing to pay even a little extra on your loans can save you thousands of dollars. This strategy works the same for mortgages, student loans, auto loans, or really any loan that allows you to prepay interest.

For example, suppose you had a $10,000 student loan, at an interest rate of 7%, and a repayment period of 10 years. If your first payment on that loan was January 1st, 2009, you would continue paying through January of 2019...your monthly payment would be around $116, and at the end, you would have paid $3933 in interest charges...Read the rest...

14 tips to improve your FICO credit score

billeater — Tue, 14 Oct 2008 06:00:00 +0000

Trying to raise your FICO credit score is like getting into good physical shape...it takes a bit of time and you won't see results immediately. But, a bit of time and work will pay off.

An excellent FICO credit score will allow you to get the lowest interest rates on loans of all types, including auto loans and mortages. And, likewise, a poor or low FICO credit score can cause you to either pay a high interest rate, or maybe not even qualify for a loan at all.

While there's no quick fix to raise your score, there are steps you can take that will improve your FICO score...we've listed 14 of the top tips here, in several categories:Read the rest...