Archive for November, 2008

Problems with Debt

Problems

There are three problems with the lives most of us lead.

  • Americans are loaded with debt – all kinds of debt; credit card debt, car loans, school loans. You name it and we “own” it. We are buried in debt. Many list money and credit card debt as one of the top reasons for divorce, and has been so for many years.  We try to pay down debt, but two things get in the way:
    • We use the bank’s methods to pay down debt.
    • Life happens
  • People are not saving enough for retirement. Even if they are saving for retirement, most people won’t have enough money to retire on and they may outlive their money.
  • Debtors have two options; pay your debt or don’t pay your debt, facing possible bankruptcy and/or foreclosure.

Solution

We need to do three things:
1. Take responsibility
2. Take your life back
3. Take your country back

Take responsibility

Many people believe money doesn’t matter when they’re young. Money does matter!! At any age!
We have to get a handle on spending. Start acting now to avoid disaster later. If you’re married, start managing money as a couple. Sometimes it’s hard to face your feelings alone without a partner. As a married couple you must sit down and discuss things like a budget, where you want to end up financially in your life together. Set some short, mid-range and long-term goals. Many couples will disagree on what monies need to be saved and spent. But that’s all part of making your finances a family affair.
Get rid of all debt as quickly as possible.

Take your life back

An excellent way to pay off all your debts is to get some help. Call an Independent Agent from United First Financial and get a free Analysis run to see if you qualify for their Money Merge Account™ system. The Money Merge Account system, if you follow the program prompts, will show you the quickest way to zero debt, by showing the way to coordinate cash flow. It gets money working for us instead of against us, using strategic payoff strategies based on your situation. It doesn’t allow money to sit on the table for the bank to use.

Discuss investment strategies. Consult a financial planner or consultant. Many times they offer free consultations.

Whatever you do, don’t wait to act. The sooner that you recognize that there is a problem developing, the less costly it will be financially. Make getting out of debt a family priority

Eliminating debts gives you options you might not have

Take your country back

By learning how to manage our own debt, we can require the same of our politicians. We need to take the lead – they certainly aren’t.

So,  to Take responsibility, Take your life back, Take your country back.

Contact Equity Benefits at bedebtfree@equitybenefits.net

Nov 04, 2008 | 1 comment | View Post

Important

“Blessed is the nation whose God is the Lord”

Psalm 33:12 (NIV)

Nov 03, 2008 | 0 comments | View Post

Why are Americans in So Much Debt?

Take back your Life

As a society, Americans need to get out of and keep out of debt. If we do that, we could  possibly have financial options, such as retirement and college fund options for you and your children that you don’t have now.  Now that’s taking back your life!
But how do people get into so much debt?  Let’s look at some of the major ways people get such debt.

Education

The average American has debt coming out of college – a lot of debt – tens of thousands of dollars of debt. Mostly in deferred school loans and credit cards.

The American Dream – Your Own Home.

Most people think of buying a home. They soon realize though, that they will be paying over twice the original rice of their house. And that’s if they secure a fixed mortgage. Other mortgages might cost them even more. But everyone really wants a house and the only way we’re going to get one is by saving for a down payment and getting that mortgage.
So that debt is OK. It’s what some consider “good” debt.

We need a ride.

But not just any ride. We get an SUV or a pickup – a sexy, really good-looking SUV. One for each spouse. If the kids are here already, maybe a mini-van and/or an SUV. All financed of course.

We have kids

Kids and everything they do costs a lot of money. By acquiring credit cards and paying the minimum payment, we can help our kids have the life they really deserve.

Anything else

By this time, money doesn’t matter. We’re really living the dream by now and don’t want to upset the apple cart.

Our County is in Debt

We certainly don’t have much guidance from our country and politicians. Our country is (depending upon where and when you check), seven to ten Trillion dollars in debt. A good portion of that is owed to foreign nations. We are part of the problem.

Get out of debt personally and we can demand our politicians be accountable with our money.  Because the Government only gets money from our taxes and efforts.

Take back your life, instead of living paycheck to paycheck or under the bondage of debt.

Nov 01, 2008 | 12 comments | View Post