Bravo Oprah

Bravo Oprah!

[tag]Oprah[/tag] is famous for giving away great studio prizes. Some have included new cars, [tag]paying off debt[/tag] and the list goes on.

But this gift give away was a little different. 300 audience members where given a $1,000 [tag]gift debt card[/tag] which was sponsored by Bank of America. Here’s how it works. You can give the money to an individual or split it up amongst several different charities. Family members are not eligible to receive the money.

Oprah is using her high profile to promote giving back to the [tag]community[/tag]. Times are tough out there for the average American Family so with this small jester Oprah has put a spot light on giving.

This year we hope to help at a homeless shelter for [tag]thanksgiving[/tag] and we always do a big round up of clothes and old toys for donation during the holidays. What can you do to help?

Debt fighting tools -Part 2

I use [tag]Microsoft Money[/tag] to track my finances. I bought the program 3 years ago and have resisted upgrades because it still does the job. [tag]MS Money[/tag]  has a great [tag]debt tracking[/tag] tool included. If you are just getting started in your journey to pay off your [tag]debt[/tag], the last thing I want to do is encourage people to go out and spend money.

There are many online tools you can use for free. I found this one on
Check out this past post with more tools.

A budget is not Evil

But living with out one can be…

Some people say [tag]budgets[/tag] are “evil” or the big bad “B” word. I don’t get it. Maybe I am just one of those people who think you should know where your money is going, at all times.

A budget is simply a term for measuring the [tag]income[/tag]and outflow of your money. Having a realistic budget and sticking to it is the only real way to get out of debt.

Everyone is looking for the “Silver Bullet” or the quick fix, but guess what? They don’t exist, unless you win the lottery. That aside there really is no quick fix to [tag]getting out of debt[/tag]. There are no letters that will make your debt disappear with out completely trashing your credit.

1. It starts with creating a budget and sticking to it!
2. Keeping current on all your debts
3. Reducing your costs. (Example Less take out food and more home cooking.)
4. Increase your income. Ebay is a great way to raise some money from your old junk.
5. Apply the new found income to one debt at a time.
6. Apply over and over until all debt is paid.

It really is that simple. Time, Dedication, Motivation and Action!

You can pay [tag]Dave Ramsey[/tag] for his books or his website but that’s what he will teach/preach you. Of course there will be a few small differences from one expert to another, for example Ramsey will says attack the smallest debt first and others say take the highest interest rate cards first.

This debate will rage on into infinity. But one fact will always remain if you do not take action you will not change your financial situation. If you are not willing to make a budget you might as well give up now. With out a plan you are 99% on your way to failure. So take out some time right now and grab a pen and paper, open an excel sheet, fire up quicken or [tag]MS money[/tag] and get to it.

It really is not that hard and it will put you on the road out of debt.

Living on One Income

When our child was born there was no question that my wife would stay home. We gave up an income but our child gained so much from having her mother with her everyday.

So how did we do it on just one income? We cut cost, big time! Yes, I gave up my fancy car, we gave up nice vacations, etc… but what we got back in terms of our child’s growth and happiness can not be judge in terms of dollars. The three of us live on one income and are very happy.

Life is about choices and in this case I choose the happiness of my child over material things. In very near future my wife will go back to work but I am so thankful my child had two great years with her mother.

Making the decision to step out of the work force to raise children can seem overwhelming. Some families consider it impossible to live on one income in today’s world of huge mortgages, large credit card balances and looming college costs. Yet some parents do manage to make the leap homeward.

How to survive as a one-income family (Page 1 of 3)

technorati tags:,

Debt Evaluation Calculator

If you need a free online tool to evaluate your debt to income ratio check out this site on money central, it give you a step by step to input debts.

Debt evaluation calculator, debt evaluator, debt ratio – MSN Money

technorati tags:,

Debt or a house

This person rights into Dr. don at Bankrate and ask should they pay off their credit card debt or save for a down payment on the house. They have 8 months rent free. He says save the money for the down and skip paying down the debt.

I am not a financial advisor but I think this is horrible advice. You should pay the credit card debt to nothing and then focus on buying a home. We as American need to learn to stop buying things we can not afford. The Credit Card debt is a symptom of poor budgeting and financial focus.

This Dr. is prescribing the wrong medicine. Get rid of the debt and then move on to the house.

Deciding between debt and down payment

Deciding between debt and down payment

technorati tags:, ,

We dont take cash

One store in D.C. no longer will accept Cash as reported at

“The [tag]Snap Café[/tag] in Washington, D.C., made the news last week when it decided to stop accepting cash. If you want one of their crepes, you’ll have to pay with plastic.”

The article goes on to explain Government entities must accept cash but private business are not obligated by law to accept [tag]cash[/tag].

So Snap Café is with in their legal rights but I think it’s crazy and is a sign that our country is absolutely addicted to credit. This addiction will have sever negative financial implication on our nations for years to come. In essence we are mortgaging away our future as a nation. [tag]Debt[/tag] will Crush our future.

Compound to wealth

Sometimes it’s hard to think about wealth when the debt load is high. Compounding is the tool almost all “rich” people use to keep growing their wealth.

“Compounding,” Albert Einstein said, “is mankind’s greatest invention because it allows for the reliable, systematic accumulation of wealth.”

Getting rich is simpler than you think – MSN Money

technorati tags:, ,

Dont Give UP

I don’t usually like to quote songs; something about it seems so cheesy. Anyway it’s almost the weekend so I thought I would put up a post to maybe give some people hope there is light at the end of the tunnel.

On the radio was a song by Peter Gabriel called “Give Up”. I personally never heard the song before and it’s not really my type of music but I caught a part of a lyric that made me stop and think. It went like this, “When times are tough don’t give up…”

Simple but powerful advice.

How does this relate to having good credit or crushing your debt? I can speak from experience that when you are so deep in debt you feel like you are being crushed. Life seems bleak and cold. It seems like you are a second class citizen in this free country. You are ashamed of the hole you have dug for yourself. When you reach the breaking point you will do one of two things break down and give up. Or you will pick yourself up and make a game plan. It starts with setting up your budget and starting to pay off your debt.

You fight to find every extra dollar in your household and you apply it to your debt. If you keep this up you will start to win the war on debt. Things will start to look up. Life will get better. But it starts with making the first step. It starts with a choice, a choice to be free.

So when times are tough don’t give up! Search this free blog for answers. Check out other sites we link to. All the answers you need to fight this battle against debt are right in front of you and best of all they are free!!! Email me, post on my blog I will do everything in my power to help.

Keep Crushing that Debt!!! You will win the war.

Have a great weekend.

One of my bosses from way back gave me a picture similar to this and somehow it just fits this post. I am sure many have seen this one before:
Dont give Up!

Debt stops some from Duty

A growing trend that is not only effecting non-military personal now is starting to make an effect on those that can now serve. More and More military personal are racking up too much debt and are then unable to serve. They are considered a “risk”. The Pentagon says the debt load over 30% of their income can make them vulnerable to bribery and treason.

Is this a deliberate attempt to get out of serving? “While the number of revoked clearances has surged since the beginning
of the Iraq war, military officials say there is no evidence that
service members are deliberately running up debts to stay out of harm’s

Thousands of U.S. troops are being barred from overseas duty because they are so deep in debt they are considered security risks, according to an Associated Press review of military records.

Troops’ debt a growing security concern – Yahoo! News

technorati tags:, ,