Reading Is To Get Out Of Credit Card Debts May 28, 2007
Posted by Vedis in : Credit Cards , 4comments
“How did you get so deep into such debt trouble ?” This is the common question asked by a lot of concerned bloggers. Well, through the efforts of my hubby and me. OK..I am serious. What I can say is lack of self-control and knowledge about financial matters.
Getting a credit card has become too easy nowadays. I have been approached by credit card executives while shopping in the malls, doing transaction in the banks, going for trade fairs and bumping into roadshows by banks.
There are too many perks offered by banks. Banks now offer 0% credit cards on purchases from participating merchants, if you use their credit cards.
I have had 7 credit cards before (I once boasted to my hubby that I wanted to own 10 credit cards ! How silly !) while my hubby had 6.
Now, I have 2 cards while my hubby has 1 card…;D Are we out of the debts ? Of course, noop.. the credit card debts are still here, decreasing little by little.
Once we realized that our debts had snowballed to more than $60,000, we started feeling petrified. What did we do ? You’ve got it , balance transfers ! Yes, from 0% balance transfers to 9% balance transfers. From bank A to bank B and then from bank B to bank C.Then, thought of personal loans and secured loans.
We used to put the blame on the banks. But, now we have come to realize that we are at faults. We lack of self control. Once we admitted we were at faults, we actually took up our responsibility. We sat down and calculated the total outstanding we had at that time.
Once we knew how much our debts were, the next step was browsing through the internet reading articles which provide tips on How To Choose The Right Card, Credit Card Balance Transfer Guide,Credit Building Tactics and other helpful resources.
After reading the article of Credit Building Tactics , it finally dawned on us that we can actually rebuild our credit rating little by little and with patience.
With sound credit card advice provided by thousands of internet sites like Nations Finance, we have better grasps of the ins and outs of credit cards, mortgages, home insurance and motor insurance.
We know how to get better deals after reading Where Is The Best Place To Get Car Insurance ?
Equip yourself now with more comprehensive and updated news about credit cards, mortgages and related financial advice before you are in deep, deep debt trouble like us.
How Did We Get Into Deep Credit Card Debts ? May 1, 2007
Posted by Vedis in : Credit Cards , add a commentIf this is your first visit to my blog. Welcome ! Look to the right sidebar - $60,000 credit card debts, excluding home loan and car loan.
How did you get so deep into debt trouble ? This is the common question asked by a lot of concerned bloggers. Well, through the efforts of my hubby and me. OK..I am serious. What I can say is lack of self-control.
I started off with my very first credit card in 2001. It was definitely difficult to get a credit card at that time. I still remember the lengthy and daunting process of getting the card approved.
However, getting a credit card has become too easy nowadays. I have been approached by credit card executives while shopping in the malls,doing transaction in the banks, going for trade fairs and bumping into roadshows by banks.
There are too many perks offered by banks. As an example, some banks even offer 0% credit cards on purchases from participating merchants, if you use their credit cards.
I have had 7 credit cards before (I once boasted to my hubby that I wanted to own 10 credit cards ! How silly !) while my hubby had 6.
When we realized that our debts had snowballed to more than $60,000, we started feeling petrified. We had been maxing out our credit cards regularly and paying off the balance in three months when it used to take one month !
What did we do ? You’ve got it , balance transfers ! Yes, from 0% balance transfers to 9% balance transfers. From bank A to bank B and then from bank B to bank C. Then, thought of debt consolidation for our credit cards.
We used to put the blame on the banks. But, now we have come to realize that we are at faults. We lack of self control. Once we admitted we were at faults, we actually took up our responsibility. We sat down and calculated the total outstanding we had at that time.
Once we knew how much our debts were, the next step was browsing through the internet reading articles which provide tips on how to get out of credit card debts, pay off credit card debts and other helpful resources.
After reading the articles on bad credit history, it finally dawned on us why it was difficult for us to obtain cards, car loan and home loan last year.
With sound credit card advice provided by thousands of internet sites, we have better grasps of the ins and outs of credit cards. Equip yourself now with more comprehensive and updated news about credit cards before you are in deep, deep debt trouble like us.
Show Me Money Making Biz April 24, 2007
Posted by Vedis in : Income Streams, Make Money , 2commentsHey, Vedis, why are there so many paid posts or sponsored posts on your blog now ? Aren’t you supposed to write more about debt management ?
Well, fellow. Please look to your right, yes, the right sidebar ! How much is my credit card debt now ? $58,000 ++ , right ?
Don’t you think I am taking actions to reduce my debts ? Read my debt management posts so that you understand what I have been implementing to reduce my credit card debt.
Yes, I am in deep debt trouble. No, I do not want to harp on my debt figure all the time.
Besides reducing my debts, don’t you think I should make extra money to speed up my debt elimination program ?
Look up at the blog description. A novice’s simple ways to make money online. Honestly, writing paid posts does seem simple way for me to earn extra money. And as a matter of fact, it helps me make money online, especially PayPerPost. Shouldn’t I write more sponsored posts ? I am showing you how I make money blogging and how I get paid for blogging writing opinions, products, services and websites.
To date, I have made $59.00 from PayPerPost, excluding pending posts.
Who else out there is also deep in debt trouble ? Start getting paid for blogging !
My Collection Of Debt Management In Blog Carnival April 22, 2007
Posted by Vedis in : Personal Development , 1 comment so farIf you are new to my blog, you may have missed some of my posts submitted to Blog Carnival.
All my posts submitted to Blog Carnival are related to debt management. I am glad to share my Debt Life with you here.
My post on 5 Simple Debt Reduction Method was accepted by Carnival of Debt Reduction # 82.- hosted by NCN (No Needed Network).
Another post submitted to Blog Carnival was successfully included in Carnival of Credit Card # 9. My post is 5 Signs That You Are in Debt Trouble. This carnival was hosted by Credit Card Lowdown. 12 entries about credit card, debt and personal finance were selected.
My post of ‘Wish Increase of Wealth And Happiness for Others’ was featured at Success And Abundance Mindset Carnival # 2. The carnival was hosted by Wanda of Creating Abundant Lifestyles.
The latest post is 2 Options on Repairing Bad Credit History which was featured in Carnival of Budgeting # 2 , hosted by Payday Loan Lowdown.
I prefer simplicity. You may have noticed that my posts are short and there are only a few simple tips or steps. Yes, chew a little bit at one time. Pick up a few simple tips along the way and apply them consistently daily.
I hope that these posts help you gain some insight on debt management if you are in debt trouble like me. Though the journey to debt free life may seem to take a little longer for me , I have faith that I can go through it successfully. Persistence is the Mother of Success.
Carnival of Credit Card #9 April 12, 2007
Posted by Vedis in : Personal Development , add a commentI have been showered with tremendous good news these few days.
Firstly, my 5 Simple Debt Reduction Method to Blog Carnival was included in Carnival of Debt Reduction # 82.
Then, my FIRST PPP of Make Money With Ja Kel Daily dot com was accepted.
And now, another post submitted to Blog Carnival was successfully included in Carnival of Credit Card # 9. My post is 5 Signs That You Are in Debt Trouble. This carnival was hosted by Credit Card Lowdown. 12 entries about credit card, debt and personal finance were selected.
More news here !
1. My brother-in-law lent us $5,000 to settle our credit card debts. We offered a 10% interest rate to him as we are paying 18% to banks at the moment. However, he turned down our offer. His condition is simple - return the money to him after one year. We are so glad that we can save the 18% interest on the debts, plus the interest on the interest owed!
Has my brother-in-law’s money been used discreetly ? YES ! We used it to pay off one of the credit cards which carried $2,800. The remaining sum of money was channeled to other credit cards.
2. I got a call from my bank which offers 9.88 % on a $2,000 loan ! Once we get the money, it is for sure that this $2,000 will be used to settle another credit card. Wait for my update.
By the way, my hubby has cut off 5 out of his 6 credit cards. He only keeps one. I am happy that he only keeps one credit card as he loses control whenever he spots a new watch. He is a watch maniac.
As for me, I still keep 3 out of 7 cards.
Our thoughts are absolutely creative. Each thought tends to manifest itself in our lives.Thoughts of riches, achievement, success, provided you do not deny them subsequently, come forth after their kind. You answer your own prayer because it is done unto you as you believe.
5 Simple Debt Reduction Method to Financial Freedom April 5, 2007
Posted by Vedis in : Debts / Credit Card Debts , 5comments“It doesn’t matter now.”
I have been telling my friends this recently whenever someone finds out that I am in Debt Trouble. It just doesn’t matter how we got into our debt trouble. Stop harping on what we spent on, how much we spent and why we bought those junks that we thought they were “must-haves” items at that time.
“It just doesn’t matter now.”
The most important lesson we have learnt from getting into debt is to get out of debt trouble as soon as possible.
Have we taken actions ? Yes, we have and we are. Here is our Simple Debt Reduction Method at the moment before we apply more advanced techniques for debt repayment:
1. Cut Off Credit Cards to Avoid Extra Charges. I still keep 3 credit cards. Originally, I owned 7 credit cards ! (I once boasted to my hubby that I wanted to own 10 credit cards ! Silly enough !) I am waiting to snip another credit card. My hubby has cut off 3 out 6 credit cards.
2. Write to Banks Asking for Lower Interest Rate. Now, our interest rate is between 9% to 12% per annum. 18% per annum is really a burden.
3. Spend Less. Many people have the impression that Women are the Big Spenders ! Wrong, you guys. My hubby is the big spender here. Again, you get him wrong. He doesn’t smoke, drink or flirt. He is just a watchmaniac ! He likes admiring, buying and keeping watches.
4. Make All of the Minimum Payments early or on time.
5. Use Cash if possible.
They are simple steps to implement. Just do it !
5 Signs That You Are In Debt Trouble ! April 4, 2007
Posted by Vedis in : Debts / Credit Card Debts, Loans , 2commentsStudies show that many people with credit cards pay just the minimum amount every month, and “roll over” the rest to pay the following month. The next month, they roll the charge over yet again.
That means they pay interest on the loan, every month. Plus, they pay interest on the interest they owe !
Have a check here if you are already in Debt Trouble:
1. Paying off your balance in three months when it used to take one month.
2. Not knowing how much you owe until your bill arrives.
3. Maxing out your credit card regularly.
4. Paying bills with card cash advances.
5. Paying off one credit card bill with another credit card.
To avoid credit woes, monitor your financial status closely and watch for the warning signs of growing storm.
