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Subject: The Good Side of a Bad Situation |
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Our nation’s economy has taken a serious downward turn. No doubt you have heard
about the Wall Street smooth talker who swindled investors out of 50 billion dollars. Or,
jobs are being snatched from under the feet of hard working Americans. Lastly, how the
big three automakers received a hefty bailout while the rest of us are left to figure our way out of this financial conundrum. Our greatest fear of a recession is now
officially our reality. |
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When Katrina hit our southern shores, it devastated the lives of millions of people. In
like fashion, there is a second wave of foreclosures due to hit in 2009. Unbeknownst to
main stream America, many of the subprime loans have not matured. For this reason, I
want to encourage you to act now to eliminate your consumer debt. |
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You must protect yourself and your family because foreclosures may just be a tip of the
iceberg of what’s to come if things don’t make a turnaround. So strap in, it may be
bumpy ride when this second wave of foreclosures slams the financial sector. |
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Job loss is at an all time high. More than 2.6 million jobs have been lost and more are
expected to take the plunge. If employment continues to decline, people will not be able
to pay their bills, and that’s an unnerving thought. |
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I don’t want this article to sound like a dooms day speech, but after reading an article by
James J. Saccacio, the chief executive officer of RealtyTrac, it encourages me to pay
more attention to what is really going on. He said, “Foreclosure activity in the first
quarter increased on a year-over-year basis in 46 out of the 50 states and in 90 of the
nation’s 100 largest metro areas, demonstrating that most regions of the country are
seeing more foreclosures.” |
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Who would have thought that in less than two years, 2.6 million would be jobless,
millions would have lost their homes, and homeless shelters and food banks would be
overflowing with the previously rich and currently poor? I didn’t think this would have
happened in my lifetime. Did you? |
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People are going to extremes to get jobs. For instance, one gentleman with a Master’s
degree walked the streets of New York with a sign on his back and chest handing out
resumes. Another lady printed on her t-shirts, “Hire me I’m looking for a job.”
Desperate times require desperate measures. |
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How are people overcoming the recession? For the first time in history, we are
witnessing a global recession, banking on social security for retirement is tenuous, and
a weak global market coupled with consumer confidence at an all-time low only fuels
people’s fears and further exacerbates the economic infrastructure. Is there any light at
the end of this dark financial tunnel? |
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Like Noah with the ark, don’t let this recession flood
overtake you…there is a happy ending to this story |
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Here are seven benefits to getting out of debt before the next wave of job loss and
foreclosures hit -- |
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Benefit #1 - Reduces the impact on your health
Benefit #2 - Freedom from threats of creditors
Benefit #3 - Takes the pressure off of your family
Benefit #4 - Able to create cash reserve
Benefit #5 - Reduces emotional stress
Benefit #6 - Gives you back control
Benefit #7 - Improves credit rating |
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Don’t wait for the economy to turn around. Help yourself… |
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So how can you take charge of your life? |
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Here are several tips and strategies to eliminate debt. |
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1. Know your mistake. It is prudent to take an internal look and understand what
mistake you made to get in debt. Many times, we extend ourselves too far with such
things as cars, furniture, clothes, etc., and forget that we still have to make payments on
these items. |
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2. Read the "Fine Print". Have you ever taken the time to read the fine print on your
credit card bill? You would be angry to find what hidden fees are being charged to
you...the fine print will tell the whole story. |
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3. One Credit Card. There are people that take pride in having multiple credit cards. If
you have multiple cards, you are setting yourself up for problems. Strive to get a card
under 14% interest rate and only use the card when you can make full payment within
30 days. |
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4. Reduce Your Liabilities. Liabilities are simply expenses that drain your income every
month. Unless it is creating income for you, it is a liability. Therefore, make a list of all
your liabilities and eliminate them. Don't take this point lightly. This is an area where so
many people and companies are dropping the financial ball. |
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5. Payment Plans. If you have an outstanding bill that has a payment of $25.00 a
month, add an extra $25.00 to your payment. Now your payment is $50.00 a month,
instead of $25.00. I used this technique and paid off one of our bills nine months early. |
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6. Create A Budget. As simple as it sounds, the easiest way to save money is to know
exactly how much you need to cover your living and lifestyle expenses versus how
much income you can earn. |
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7. Use Cash. This is one of the most effective ways to reduce debt. If you do not have
the money, you cannot buy what you want. Doing business with cash only is a good
way to become more financially disciplined. |
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8. Do not shop when you are emotional. The worst time to shop is when you’re
emotional about your family, life, relationship or other personal issues. Sit down, take a
deep breath and think before you make a mistake. My famous quote is "Every emotional
decision is always a bad decision." |
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In closing, you don’t have to be smothered in debt for the rest of your life all you need is
a plan and the passion to get out. |
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I just wrote a new online eBook and you can Test Drive for FREE! You can test drive our new released book entitled, "How To
Spend Your Way Out of Debt." |
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Just CLICK HERE to
immediately download the software and let me know how it help your eliminate debt. |
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