Swagbucks is NOT a Scam!!!

You're not going to get rich off of Swagbucks... but I have been using it and made about $35 in Amazon gift cards over the last 60 days. It's SOMETHING, doesn't require much effort and EVERY DOLLAR COUNTS. I recommend checking it out.

Click Here to go to Swagbucks.com 

Definitely let me hear your feedback. 

Our Life in Debt

This is a blog about being in debt.  It's also about, dealing with debt as family and as a person. I hope my candid feelings and useful information can be helpful to other with the same problems and challenges.

Debt Sucks!

How overspending with credit cards built debt and how I found a way out

1. Take stock. Before you start reducing your credit card debt, know where you stand, says Cate Williams, vice president of financial literacy for Money Management International, a large, national credit counseling firm. "A lot of people will say they've got a certain amount of debt -- $9,000, let's say -- when in reality, it's $11,000 or $14,000." You'll never hit your target if you don't know where it is, so be brutally honest with yourself.
Action plan: Write down the debt -- and the interest rate -- on every card you have.

2. Improve your rates. The quickest way to save big on your credit card bills is to negotiate a lower interest rate. If you can shave off even a percentage point or two, you can save hundreds as you pay off your debt. A simple phone call and a polite request may be all it takes. While your credit score will play a large role in whether or not you get a rate cut, it's not the only factor. "Every lender has their own approach to this issue," says Weston. "It never hurts to give it a shot."
Action plan: Call up each credit card company and request lower interest rates.

3. Track your costs. Write down all your regular, committed expenses (mortgage, utilities, insurance, car payments, minimum credit card payments, phone, gym, cable, etc.), and track other variable expenses such as restaurant meals, entertainment and travel. This will serve as the foundation to your budget.
Action plan: Study up to a year's worth of credit card bills and bank statements to get an accurate sense of your monthly spending, and keep tracking your expenses with a notebook or financial software.

How many different types of debt are there?

Here are several different types of debt. They are:

Installment Debt - Installment debt is money owed to a creditor who expects repayment over a fixed period of time made in equal monthly amounts. A mortgage or a car loan is an example of installment debt. You are making the same payment over a fixed schedule of time. An auto loan, for example, might call for 48 equal payments of $300. A home loan might call for the same payment of $1000 every month for 30 years. You are paying these loans off in installments.

On your credit report it is easy to tell if an account is being reported as an installment account. The numeric Current Status rating will be prefaced by an "I." The "I" stands for installment.

Revolving Debt - Revolving debt is money owed to a creditor who sets your monthly payment based on the current balance. Credit cards or retail store cards are examples of revolving credit. Each month your balance varies based on your shopping activity from the previous month and any unpaid amount rolled over or "revolved."

As with installment debt, revolving debt is easily identified on your credit report. An "R" prefaces the numeric Current Status rating. The "R" stands for revolving.

Open Debt - Open debt is the least common type of debt to be found on your credit report. "Open" means that each month you run up a balance and pay it in full when you get your bill. Your cell phone is a good example of open debt. The American Express Green Card is another example of open debt. You don't have a predefined credit limit and you have to pay the balance in full each month.

A debt story

We have 5 kids with a stay at home mom. We own only 1 car, a Toyota Sienna. The money you are putting into the monthly lease can be saved and used to pay down debt. I drop my husband off at work and pick him up. Sometimes, he will bum a ride off his colleagues. When it comes to a large family, food costs can get out of control. I use a system of writing down every single penny I spend. I also track my husband's spending. I avoid impulsive food buys and plan out the meals for the week and shop at 99cent discount store, and costco. We only eat out for special occasions, maybe once or twice a month. Avoid fast foods also. Don't give up. Once you make debt repayment a priority, you will quickly free up extra money every month that can go towards savings and investment.

Debt is a total killer

Does anyone have any advice or comments they would like to share on this blog. I could sure use a "pick me up" today! Speak up!

What Lies In Your Debt? It Pays to Know

When people really find out what is going on behind the scenes in the mortgage industry like we did through What lies in your Debt, they will see that there are viable options to the stress and fear that the banks have had over the public for so long. I highly recommend that anyone who has an issue with their loans or mortgages to leverage the resources this business has put together. It could be the best thing they ever did!

Click Here! to learn more and start your trip out of debt today!

Car Insurance Debt Advice

Car Insurance Debt Advice