Pay off debt

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Credit card debt consolidation - How to recycle expensive plastic money
Do you know the credit card debt figures in July 2005? £55.87billion. That is enormous. UK is standing witness to the growing incidence of multiple card holding. 6 out of 10 people have more than one credit card. According to APACS (Association of Payment Clearing Services) two third of adult population in UK is a credit card holder. Guess what, you are part of it. The average interest rate on cre... Read debt consolidation article



How to find the best deal on consolidation loans
If you find yourself having to make too many payments a month, you might consider getting a consolidation loan. Used for a variety of purposes, a consolidation loan can take multiple loans (such as personal loans and auto loans) and combine them into a single payment, or it can provide money to pay off a variety of bills and debts and consolidate them into a lower monthly payment.... Read debt consolidation article



Pay off debt
This is an article worth millions of dollars to anyone who reads and applies these things.

1. Pay off all your high interest debt. This means credit cards, high rate consolidation loans and any other type of expensive debt you have.

2. You can do this a little bit at a time, in great big chunks or all at once, but do it and do it quick. The short term interest rates are going up now and already credit card bill are doubling and maybe even tripling.

3. Now you want to know how? O.K. easy! Start a company that will produce more income than the business costs to run every month. A sample goal would be $300 a month. Is that still too much? Well, try just $10 a day then. O.K., O.K., I was trying to trick you. How about $7/day? $200.00 a month. If you have read down this far already you have the intelligence to create a company that can produce an extra $300 to $200 a month. In fact you already have one probably and don't even realize it.

4. What company, you ask? How about the money you waste every day/month/year on little odds and ends that equal $10 a day. Start with those fancy coffee drinks you have. About $3 to $4 a pop. Give those up if you can live without it and you're almost halfway there. Do you see that candy bar at the checkout stand that sure looks good right now? Save a buck and let that candy bar stay there. How about that outfit you just have to buy because it looks so cute? Can you live without one outfit a month? Get the point? Easy and you might just lose a couple of those holiday pounds you gained too.

5. So your skinny already and can't afford to lose the weight? In that case, start any business you can that will produce that extra $300 to $200 a month and apply that to your debt.

6. Now your debt is gone and you still have this extra money coming in and you want to get rich? Now you want to invest in your own business that will provide you with residual income, income earned while you sleep, and the more of these income streams you have, the better off you will become. See my article "Getting Rich -- The Key.

With three startup businesses before he was 21 years old, Matt Fox has the experience to help you create your own businesses for your financial future. See his blog at http://www.bizmaker.blogspot.com

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Eliminate debt and build wealth

Many people today believe in order to become wealthy they either have to be born into wealth or have a lot of money to make money. The fact is this just isn't true. Building wealth is a mechanical process and because it's so simple it's quite boring, therefore many people do not follow through with the formula.

The Problem

Too many people fall into a financial rut and it usually starts when we begin moving money from one credit card to another. Sure this works for a short while, but eventually it catches up with you and before you know it you have $5000 maxed out on your VISA card and $3000 maxed out on your Discover card.

The next genius move I consider was debt consolidation. While this does work and the phone calls will stop, it's not a solution for the problem at hand. Your monthly payments become lower and this provides the temptation to go out and accumulate even more debt, eventually taking you back to square one. Not to mention having a history with debt consolidation leads to higher rates on things that count later in life.

Back at square one, the next step I considered was debt counseling and the idea sounded great, they even promised to lower my monthly payments by $300. I managed to avoid this one all together and now that I look back I am glad that I did. What I later found out is that debt counseling is viewed as bankruptcy.

By this time I decided to refinance my home with an equity line/2nd Mortgage loan on my home to get out of debt and it worked perfectly. However, let me tell you a little secret. When you take out a 120k loan on a home that is only worth 90k and the neighborhood starts going downhill like ours did, you cannot sell your home for what its worth. Again, we were stuck in rut where we had to borrow money from family to sell our home. Other home owners in the area were not as fortunate.

At this point in time I was seriously considering bankruptcy. If you think that after seven years nobody will know about your bankruptcy, you are mistaken. In some cases jobs won't even higher you if you ever had a bankruptcy. Most loan applications ask if you have ever filed for bankruptcy and they do take that into account even if it has been 10 years since you filed for bankruptcy. This is when I became desperate and finally cracked the money making formula.

The Solution

In 2005 I made a new years resolution to stop spending money on things that required me to make a monthly payment. Instead, I would take my paycheck and spend it on assets, or things that put money into my pocket month after month. I like to call these assets investment vehicles. It does not matter which types of investments you choose, just as long as they are all leading to the same place financially.

Chris Rohrer is an established writer and home business owner. Chris Rohrer makes it easy for anyone wishing to get started with their own home business. http://www.mazumoney.net


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Pay off debt
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