Slowing Spending - The Key To Your Debt Plans Success
Anyone who embarks on a debt reduction program should know the rules for success. There are two. You need to stop adding to your debt. You need to find extra money to pay it off quickly.
You also need to know the deck is stacked against you. The sellers of goods and services have gobs of information at their fingertips. They know where you live. They have a close approximation of your income. They are aware of your interests. They also know your buying habits.
The information to which they have access is endless. They know the age of your car through its registration. The appliances you have because of the warranty cards returned. Where you shop because of the credit and store cards you have used. How old your mortgage is and what you owe from public recording of the deeds.
Because they have this information, you end up on a number of lists. The sorting and use of these lists are an art and science. It is the source of the mail you receive, the offers you are made, and the advertising to which you are exposed.
This makes for very effective advertising. They can target your "known" wants and desires. Huge amounts of money are spent to convince you to buy this or that product. You have heard how expensive Super Bowl ads are each year. They pay this type of money because it works.
Then to top it all off they make it so easy to buy. If you don't have the cash, they provide you with credit, easy-pay plans, personal loans; anything to make the purchase possible. Many companies make as much from their financing divisions as they do from selling you their products.
So what do you do? How do you fight this financial onslaught and win? It requires effort and advance planning. You need to wring all the value you can from your money. Become adept at making each dollar do the work of two.
You need to budget for purchases. Even if that means that you think about it for just a few minutes before you plunk down your hard earn money. Justify your purchases; do you need it, does it make sense, can you do without? These are questions you need to ask yourself. They may fly in the face of the materialism which surrounds us all, but they need to be answered nonetheless.
You may find using a purchase-checklist helpful. Anytime a purchase exceeds what you have in your pocket tick down this list and see if it really makes sense to buy it.
*How much is it?
*Is this a sale price?
*If so what am I saving over regular price?
*What will happen if I don't buy it now?
*Can I pay cash?
*Where will the money come from?
*If not cash, what will be the credit cost?
*Is it worth it at the price with the credit cost added in?
*Does the purchase fill a need or a want? (think hard)
*Why do I need this item?
*Why do I want this item?
*Can I justify this purchase to another person?
*What would I say?
*Would I accept these reasons from someone else?
This should help in slowing you down. Couple this with not taking your credit cards with you when you shop. It does take work, but a little extra work is better than being a slave to your debt.
Now with the money you save go to work on your debt reduction plans. Work that side of the equation as hard as you do the spending side. Place as much as you can on your bills. Reduce and eliminate them.
(c)2005 David Wilding
David Wilding has for the last ten years worked with both groups and individuals to rid their lives of debt. Visit his site http://www.debtattack.com for more ideas, tools, and strategies to get rid of your debt.
 Google News Updated : Sat, 06 Sep 2008 02:06:27 GMT Seinfeld and Gates' Microsoft misfire - Los Angeles Times
Los Angeles Times - The new Microsoft commercial, featuring Jerry Seinfeld and Bill Gates out discount shoe shopping, was unveiled Thursday night on TV. Microsoft Works to Perfect Windows Vista The Bill and Jerry Show Publ.Date : Sat, 06 Sep 2008 00:55:05 GMT Why Dell Wants To Sell Its Factories - Seeking Alpha Seeking Alpha - Dell Inc. (DELL), in a move aimed at cutting costs and improve profitability, according to the WSJ, has approached contract computer manufacturers with offers to sell most - and possibly all - of its factories around the world within the next 18 months ... Dell Trades Factories For Money Dell said to consider sale of factories Publ.Date : Sat, 06 Sep 2008 01:41:32 GMT Thailand to buy 40% more rice from farmers - Financial Times
Financial Times - By Amy Kazmin in Bangkok Thailand's struggling government has agreed to buy 40 per cent more rice from farmers this year, a decision that could boost its popularity among rural voters as it prepares to face a national referendum aimed at ending an ... Video: Locking horns over politics in Thailand -- 05 September 2008 Thailand: What might happen next? Publ.Date : Sat, 06 Sep 2008 00:49:18 GMT Transportation Dept. almost out of highway funds - The Associated Press
The Associated Press - WASHINGTON (AP) - The federal highway trust fund will run out of money this month, requiring delays in payments to states for transportation construction projects, Transportation Secretary Mary Peters said Friday. Federal highway trust fund to run out of money this month DOT says Highway Trust Fund is broke Publ.Date : Sat, 06 Sep 2008 01:21:42 GMT Qaddafi Meets Rice, Talks of Cooperation on Africa, Terrorism - Bloomberg
Bloomberg - By Viola Gienger Sept. 6 (Bloomberg) -- Libyan leader Muammar Qaddafi met with Secretary of State Condoleezza Rice yesterday and discussed cooperation on easing tensions in Africa and fighting terrorism, aiming to overcome decades of enmity with the US ... Video: Inside Story - Rice visits Libya - 03 Sep 08 - Part 1 US Libya relations in 'new phase' Publ.Date : Sat, 06 Sep 2008 00:57:47 GMT Can Palin also galvanize the US left? - Reuters Reuters - By Ed Stoddard - Analysis ST. PAUL (Reuters) - Sarah Palin is the magnet John McCain needs to attract religious and social conservatives who are not convinced he's one of them. McCain's big gamble US election at-a-glance: 5 Sept Publ.Date : Fri, 05 Sep 2008 23:01:33 GMT Boeing machinists to strike as contract talks fail - Reuters
Reuters - By Bill Rigby and Laura Myers NEW YORK/EVERETT, Washington (Reuters) - Boeing Co's 27000-strong machinists' union declared it will strike at midnight Pacific time on Friday, as the plane maker failed to improve its contract offer after two days of ... Boeing's Talks With Machinists Fail; Strike to Start (Update2) Boeing workers to strike at midnight -- reports Publ.Date : Sat, 06 Sep 2008 00:18:05 GMT RSS to HTML |
PARLOT::Ebooks, Scripts,
Websites, and more... With medical collections costing doctors millions upon millions of dollars... Read More This method is simple, but requires some discipline.First, you have... Read More Do you, like millions of other Americans, feel like you're... Read More There are two main roads to improving your personal finances:... Read More When you find yourself thinking about using a credit counseling... Read More The First Step To Debt EliminationRegardless of your personal and... Read More Should you be unfortunate enough to face a CCJ ?... Read More Debt is becoming number one problem in the United States... Read More To be out of credit card debt is your dream... Read More A Debt Checklist allows you to look at items and... Read More Most Americans are aware of the sweeping changes in U.S.... Read More Bankruptcy has long been a big question mark in the... Read More Debt Help is the stepping stone to debt elimination and... Read More Bankruptcy and Credit - What Happens After Your Debts Are... Read More A "bad credit home loan" can help you climb your... Read More It is possible for creditors and third-party collection agencies to... Read More Budgeting -- ooh, what a scary word! If you want... Read More People over extend themselves financially as a result of a... Read More Bankruptcy is one of the most difficult things a person... Read More What is a debt management system, and when do you... Read More We all know about debt. If you don't have too... Read More Strictly speaking, his advice was preceded by another Heinlein maxim... Read More Most American consumers are living too close to the edge.... Read More It is always possible to negotiate with creditors ? even... Read More Do you have multiple debts? Do you have just one... Read More
Adsense
websites
How To Avoid Medical Collections
Credit Card Debt: How to Get Rid of It
Drowning in Debt? Tips and Tricks for Getting Out of Hot Water with Creditors
Five Major Ways to Save Money
Selecting A Credit Counselor; Asking The Right Questions.
Debt Elimination 2
Bouncing Back from a CCJ
Learn How to Get out of Debt
Out of Credit Card Debt - Without Filing Bankruptcy
Use A Debt Checklist To Examine Where You Are
Mandatory Credit Counseling for Those Considering Bankruptcy
Bankruptcy ? Bankruptcy Myths
Help to Get Out of Debt
Life After Bankruptcy
Bad Credit Home Loan To Get You Out Of Debt
Is It Possible to Be Sued For My Debts?
Creating A Realistic Budget
How to Negotiate Debt Settlement
Taking The Plunge Into Bankruptcy
Debt Management Systems
Debt
Budget the Luxuries First!
Bankruptcy - Your Fresh Start
Debt Problems? You Can Negotiate With Your Creditors
Is There A Way Out Of Your Debt Problems?
Affordable and Reliable Web Hosting Starting at $4.49/Month
How to Negotiate Debt Settlement
People over extend themselves financially as a result of a... Read More
Bankruptcy As An Option
If your financial worries are preventing you from sleeping at... Read More
How to Negotiate Debt Settlements
Knowing how to negotiate debt settlements is the key to... Read More
Dealing with Thingitis
Debt is quickly becoming an epidemic in America. However, through... Read More
Mr. Cheapies Frugal Budget Tips
So you feel like a hamster spinning your wheel? The... Read More
Slowing Spending - The Key To Your Debt Plans Success
Anyone who embarks on a debt reduction program should know... Read More
Reducing Debt Before Its Too Late - How to Avoid the Pitfalls of Creeping Debt
Reducing debt usually isn't a high priority for people until... Read More
What You Should Know About Bankruptcy
Filing bankruptcy is not only a last resort legal action;... Read More
Establish Money Saving Goals For Added Success
Having something tangible to strive towards can work wonders for... Read More
Repair Bad Credit Yourself
In March 2005, the U.S. financial services industry succeeded in... Read More
Utah, the Nation?s Bankruptcy Capital
Congress recently passed the Bankruptcy Abuse Prevention and Consumer Protection... Read More
Tips To Take Control Of Debt Collection
Yes, debt collection tips can help. You may think you... Read More
What Is A Chapter 13 Bankruptcy?
Many consumers that are bogged down in debt frequently turn... Read More
Bankruptcy, Is It A Way Out
Negotiations with creditors have failed. Repossession is imminent and foreclosure... Read More
The New Bankruptcy Law -- How Will It Affect Debt Negotiation?
In April 2005, Congress made sweeping changes in U.S. bankruptcy... Read More
Is Filing for Bankruptcy an Option for You?
Bankruptcy laws give debtors a way to resolve debt by... Read More
Deal with All Your Debts with Care!
Lots of people take a large ammount of loans and... Read More
Debt
We all know about debt. If you don't have too... Read More
Hide That Car! Fighting the Repo Man
Vehicle repossession may appear justified in circumstances where a person... Read More
Corporate Debt Management ? Perspective on the Why
Entrepreneurs have a tough time in their formative years. They... Read More
Bankruptcy - The New Scarlet Letter
Nathaniel Hawthorne's book The Scarlet Letter states in Chapter 2,... Read More
How to Protect Yourself: Debt Collections
So you are getting collection calls? You're desk is full... Read More
The 5 Secrets to Getting Out of Debt Fast
As they stare down at a teetering pile of bills,... Read More
What is Bankruptcy?
Here is a useful guide to bankruptcy. It should be... Read More
Benefits and Drawbacks of Bankruptcy
Outlined below are some of the benefits and drawbacks of... Read More
Debt Relief |