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Bring Cash For Grocery Or Accessory Shopping October 9, 2009

Posted by Vedis in : Cash, Debt Management Plan, Money Saving Tips, Shopping, Spending , comments closed

Is your debt up to your ears that you are in need of some simple debt reduction method? If you care to spend some time online, it’s for sure that you will find tons of tips on how to reduce your debt.

I think the most important thing is the execution of the debt reduction tips. You know, knowing the tips is one thing, but being determined enough to carry out debt reduction is another thing.

You must have the discipline when it comes to restricting yourself from spending less. To avoid overspending, perhaps you may start with bringing cash only when going shopping for groceries or truck accessories.

Hubby and I have only cash to spend because both of us are in a free debt management program called AKPK debt management plan.

If I Hadn’t Been In Credit Card Debt, … May 14, 2009

Posted by Vedis in : Real Estate , comments closed

If I hadn’t been in credit card debt, I would have bought my dream Wilmington NC real estate and been happily collecting lucrative rentals.

You are lucky if you aren’t in any debt, especially credit card debt.

Never ever get yourself into credit card debt because it’s difficult to get yourself out of the debt hole.

Getting into deep debt is really fast and easy.

How To Pay Off Your Debts Quickly March 20, 2008

Posted by Vedis in : Credit Cards , comments closed

If you’re facing debt, then you need a plan. Until you do something about it, your debt is going to continue to pile up, just on the interest alone. However, with a little ingenuity and some simple disciplines, you can turn your debt around, and have a positive income to debt ratio in no time.

First, before repairing your debt, you have to stop accumulating debt. This means getting rid of those pesky credit cards! Or at least, create a strategy to use them less. One way to do this is to analyze how much debt each month you currently are taking on. Let’s say each month you charge $100 on your credit card, and you only pay $10 of it back. This means you average $90 of debt per month. (more…)

To Get Yourself Out Of Debt: Debt Consolidation, Debt Settlement Or Credit Counselling Service ? February 16, 2008

Posted by Vedis in : Credit Cards , comments closed

Debt is very limiting. It limits your earning potential by taking away from the money that you can invest and save. Debt will constantly hang over you. The only way to get away from debt is to pay it off and stop using credit.

Here are a few ways to get yourself out of debt:

1. Make a Debt Payment Plan. Many people avoid making a plan, because it involves adding all of your debt together, and the numbers can be depressing and scary. However, knowing that you are doing something about your debt helps to relieve those fears and the nagging worry that you may be experiencing.

2. Consolidate All Your Debts. A debt consolidation loan could be helpful if you ran up your credit cards while you were in business school, or if you have a number of high interest installment loans such as student loans, car loan, etc. This will allow you to roll this high interest debt into one manageable payment.

When you consolidate your debt, you take out a loan to pay off several other debts. This allows you to consolidate the money you owe into one payment.

If you have an easier time making your payments, you can avoid late fees, extra charges, and the bad credit that will inevitably result when you can’t afford to pay regular bills.

Generally this debt consolidation loan will move unsecured credit card debt into secured debt (a home equity line). So if you fail to make payments, you may be in danger of losing your home.

3. Look For Up Credit Counseling Service. Consider consumer credit counseling which will allow you to enter into a debt management plan with your creditors. There’s a possibility to reduce your monthly payments, but you’ll still be able to pay your balance in full. As long as your payments continue to be made on time each month, consumer credit counseling does not hurt your credit.

4. Consider Debt Settlement. You may have read about debt settlement as an alternative to bankruptcy or a solution to your debt.

Debt settlement reduces your debt by negotiating with your creditors. You give the names of the creditors and the amount you owe. The debt settlement company then gives you an estimate for reducing your debt along with a new, lower monthly payment.

Carnival Of Credit Card #9 April 12, 2007

Posted by Vedis in : Personal Development , comments closed

I 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 post 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.