Like my boss says, if you can’t measure it you can’t manage it.

This very nice lady, and her family have taken debt serious! They measure their debt therefore they are successful at reducing their debt. She is an inspiration to many of us.

I find my self identifying with her in many ways. She wants to reduce her family debt, so do we. She is a quicken fanatic and I choose Microsoft money. She will succeed in becoming debt free, so will we. Hope to celebrate with you at the finish line!

In order to meet my goal date of May 2009, we need to pay $1050/month towards credit cards a month.Here’s how August panned out:Credit Card #1: $225Credit Card #4: $300, $450, $350 = $1100Credit Card #7: $147Prosper Loan: $113Total paid: $1585Target amount: $1050Difference from Target Amount: +$535.00I know it would be hard to keep up paying $1,500+ a month, but I wonder how long it would take to pay off our debt if we could. I’ll have to run some numbers now that I have all of the minimum payments. I’m excited to see if we can be debt-free before 2009 (which would be awesome!).

Blogging Away Debt » Blog Archive » Am I Still on Track to Meet My Goal Date?

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I often check out the questions being asked on Yahoo answer, mainly about credit and debt. I do it not to feel better or worse about my self but rather to learn something.

So after watching the answers for many weeks I have made a few observations.

There are a lot of people in debt.
There are a lot of people deeply in debt.
There are a lot of people who do not know what to do next.
There are a lot of people who are at the end of their rope.
There are a lot people looking for a way out.
There are a lot of people looking for help.

It’s clear there is a huge need for accurate and timely information on debt and credit. There are so many scams out on the Internet its amazing.

Getting out of debt and cleaning up your credit is exactly like going on a diet. However we have learned that diets don’t work, change your life style is the only way to take and keep off the weight.

Getting out of debt is the same. You need to change your life style and the debt will start to go away. You have to want to do it bad enough. the pain off being in debt must be great enough to force the change. Listing to Dave Ramsey is not enough. You have to want to make the change.

but like getting into shape you need a guide, a game plan and motivation. With out these three it will be hard to succeed.

Sign up for our free 8 day course on crushing debt and use it as a base for getting back into financial shape.

have a great weekend!

technorati tags:Yahoo Answers, credit

Liz Pulliam explains “weird stuff that hurts your credit”. The article is eye opening. Below is just one instance, she goes on to talk of several more. Check out the article.

Accountant John Johnson of Springdale, Ark., painstakingly rebuilt his credit after some business reversals several years ago. But the credit-card issuer that initially helped him is now standing in his way.Capital One refuses to report its customers’ credit limits to the three major credit bureaus. Instead, the bureaus use the highest balance a customer has charged as a proxy for the limit.

Weird stuff that hurts your credit – MSN Money

technorati tags:Liz Pulliam, credit, debt

Don’t think it doesn’t happen? People not getting a jobs because of bad credit. Read the story below and see how this is becoming a reality for many people.

“US employers’ use of credit checks increased 55 percent over the last five years, according to Spherion, a recruitment and staffing firm with offices around the country, including Massachusetts.”

Companies want to know your credit history. So take the steps now to clean up your credit so you never face this type of bad luck. Get our free guide to having good credit. it’s a free 7 day e-course based on facts and not scams..

LaToya Horton was temping at a management consulting firm in Boston last January when it offered her a full-time job as a clerk. Then, the firm said it needed to check her credit.Horton, 30, of Dorchester, didn’t get the job after her credit report showed $18,000 in deferred student loans.“My credit wasn’t perfect, but I never thought my student loans would go against me,” said Horton. “The company said I could reapply once I had two years of excellent credit, but there is no way I am going to be able to pay off those loans that quickly.”

Article display page – the day.com

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And you thought only people with bad credit paid more for home loans… The article does not say if these two demographics on average have better or worse credit. Interesting read…

The Fed’s analysis of 2005 home lending data found that 54.7 percent of black borrowers paid a higher-than-typical interest rate on home mortgages. That was up sharply from 32.4 percent in 2004.For Hispanics, 46.1 percent paid more than typical for their mortgages last year — more than double the 20.3 percent reported in 2004.In contrast, only 17.2 percent of whites paid higher interest on their home mortgages last year. However, that was up considerably from 2004’s 8.7 percent.

And, some borrowers stretching to buy a home opted for creative
financing, like higher-priced piggyback loans. The use of piggyback
loans shot up more than 57 percent in 2005 from the prior year, the Fed
said.

“Indeed, the increase in the number of higher-priced piggyback loans
in 2005 accounted for more than half of the increase in the number of
all higher-priced loans,” the report said.

Blacks, Hispanics pay more for mortgages – Yahoo! News

technorati tags:mortgages, credit

True. But I would add money buys you choices and choices make me happy. For example if I have money I can afford to drive a nice car. If I don’t have money I have to drive a 10 year old car just trying to make it to the next mile.

Another example: If I have money I can afford to buy what ever I want to eat. So if I want steak two nights a week I can. If I have not money then it’s beans and rice.

For me money = choices and choices = happiness. Not sure about the rest of the world…

You should check out the article below. I like the part about fun is something you have until you’re bored…

Just like Dave says, money can buy fun, but not happiness. There is a big difference. Fun is something that you have until you’re bored with whatever you’re doing. Happiness is being content with what you have.There is actual scientific evidence to back this up. According to a study done by a Princeton economist in June 2006, once you reach a certain income level, earning more doesn’t necessarily smiling more. If anything, it could mean more stress.Money can mean breathing easier if it drastically affects your basic standard of living. Harvard professor Daniel Gilbert said that going from $5,000 in income to $50,000 will raise your spirits, but going from $100,000 to $1 million will not affect your happiness level much, if at all.

Money and Happiness

technorati tags:Money doesn’t buy Happiness, money, debt, broke

Everyone talks about avoiding late fees for your credit card, which I agree 100% with. However there is another late fee you should avoid which is overdraft protection charge. So over the holiday weekend I got hit with 3 of them at $22 a pop!

The good news is I didn’t bounce a check but the bad news is I had to pay the bank $66 just to cover my lack of planning! The funny thing is I had the money just forgot to move the money from one account to another.

I am glad I could help out my banks bottom line this month! 🙁

If credit is an issue this may be a very good way to get a mortgage. Check out the rest of the story and see if lease-purcahse is right for you and your current credit situation.

Fundamental to the financing of any lease-purchase is the lease-purchase agreement. The lease-purchase agreement must be written and signed by both parties. This should be executed early on and prior to your first rent payment. The lender is not concerned with any verbal agreement you may have made with the seller however long ago – the lender wants to see it in writing. You can buy a lease-purchase agreement (also called a lease-option, lease with option, or lease to purchase) online or at your local office supply store. Either way, be sure to put it in writing.

Broken Credit Blog — Free Dispute Letter Free Credit Repair Mortgage » Buying The Home You’re Renting

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