Comments for My New Choice http://www.mynewchoice.com Debt free, financially independent and retired early Sun, 08 Nov 2009 05:48:05 -0500 http://wordpress.org/?v=2.8.6 hourly 1 Comment on 5 Ways To Get Financial Advice With Social Media by Ram http://www.mynewchoice.com/2007/06/25/5-ways-to-get-financial-advice-with-social-media/comment-page-1/#comment-112498 Ram Sun, 08 Nov 2009 05:48:05 +0000 http://www.mynewchoice.com/2007/06/25/5-ways-to-get-financial-advice-with-social-media/#comment-112498 I have been using Perfios - http://www.perfios.com, a completely free web based software... - Ram I have been using Perfios – http://www.perfios.com, a completely free web based software…
- Ram

]]> Comment on 5 Steps To Improve Your Credit Score by Hailey http://www.mynewchoice.com/2007/05/07/5-steps-to-improve-your-credit-score/comment-page-1/#comment-111703 Hailey Wed, 21 Oct 2009 16:53:54 +0000 http://www.mynewchoice.com/2007/05/07/5-steps-to-improve-your-credit-score/#comment-111703 Great steps. I'm gonna try and follow these and see how I do. Thanks. Great steps. I’m gonna try and follow these and see how I do. Thanks.

]]> Comment on I’m In Debt – MTV True Life by Amy http://www.mynewchoice.com/2007/02/26/im-in-debt-mtv-true-life/comment-page-1/#comment-109581 Amy Mon, 14 Sep 2009 07:07:18 +0000 http://www.mynewchoice.com/2007/02/26/im-in-debt-mtv-true-life/#comment-109581 If you watched my show True Life Im in debt im the character Amy that said i dont want a job that takes of all my time if you were PAYING ATTENTION i was looking at the correction officer post and they have the wheel 24 /7 shift so yes i would be working day and night so learn your facts before you run your mouth..if you watched the ending of it I did finally land a job and my mother didnt pay my bills just for one month when i didnt have a job.Today i have a great city job in law enforcment and i got out of debt like 3 years ago... so if you hate all 3 female characters so much you go film your own show with your liberal sarcastic ass! If you watched my show True Life Im in debt im the character Amy that said i dont want a job that takes of all my time if you were PAYING ATTENTION i was looking at the correction officer post and they have the wheel 24 /7 shift so yes i would be working day and night so learn your facts before you run your mouth..if you watched the ending of it I did finally land a job and my mother didnt pay my bills just for one month when i didnt have a job.Today i have a great city job in law enforcment and i got out of debt like 3 years ago… so if you hate all 3 female characters so much you go film your own show with your liberal sarcastic ass!

]]> Comment on The Roth IRA Rules by Your Roth IRA http://www.mynewchoice.com/2008/03/05/the-roth-ira-rules/comment-page-1/#comment-106089 Your Roth IRA Tue, 14 Jul 2009 13:51:49 +0000 http://www.mynewchoice.com/2008/03/05/the-roth-ira-rules/#comment-106089 Just a note that the figures for “The Phase-Out Rule” have changed since 2008. For 2009, they are as follows… Single $105,000 - $120,000 Married Filing Jointly $166,000 - $176,000 And for 2010, while the income limits remain in effect, the income limits for a Roth IRA conversion disappear. So if you earn too much to contribute to a Roth IRA, make non-tax deductible contributions to a Traditional IRA instead. Then convert the Traditional IRA to a Roth IRA in 2010. -Britt Just a note that the figures for “The Phase-Out Rule” have changed since 2008.

For 2009, they are as follows…

Single $105,000 – $120,000

Married Filing Jointly $166,000 – $176,000

And for 2010, while the income limits remain in effect, the income limits for a Roth IRA conversion disappear.

So if you earn too much to contribute to a Roth IRA, make non-tax deductible contributions to a Traditional IRA instead. Then convert the Traditional IRA to a Roth IRA in 2010.

-Britt

]]> Comment on How to Escape a High Interest Car Loan with Negative Equity by Lisa http://www.mynewchoice.com/2007/06/18/how-to-escape-high-interest-car-loan-with-negative-equity/comment-page-1/#comment-105856 Lisa Sun, 12 Jul 2009 22:50:22 +0000 http://www.mynewchoice.com/2007/06/18/how-to-escape-high-interest-car-loan-with-negative-equity/#comment-105856 I am paying for a 2002 Kia spectra with 73,000 miles. It is a good car, but the payment of 303 a month is killing me. I moved back to my home town, and took a $5 an hour cut in pay. With this slow economy, I need to get this payment off my shoulders. I could make a rent payment with this money. I also have a low credit score in the low 500's. Please advise. I am paying for a 2002 Kia spectra with 73,000 miles. It is a good car, but the payment of 303 a month is killing me. I moved back to my home town, and took a $5 an hour cut in pay. With this slow economy, I need to get this payment off my shoulders. I could make a rent payment with this money. I also have a low credit score in the low 500’s. Please advise.

]]> Comment on How to Escape a High Interest Car Loan with Negative Equity by LYN http://www.mynewchoice.com/2007/06/18/how-to-escape-high-interest-car-loan-with-negative-equity/comment-page-1/#comment-94885 LYN Fri, 17 Apr 2009 01:07:35 +0000 http://www.mynewchoice.com/2007/06/18/how-to-escape-high-interest-car-loan-with-negative-equity/#comment-94885 i have a 2006 pontiac grand prix w/ 17,000 or more left on it. like most people i just needed a car at the time. well now i am having to pay for repairs on it that leave me choosing between paying the monthly car note 450-500 or paying for repairs. my credit is not the greatest low 500. would it be wise to trade in for something cheaper or should i keep my vehicle and just deal with it. the repairs are things like a new rac and pinion (i think i spelled that right). i'll need brakes soon as well. or would it be more beneficial to me to refinance. please help i have a 2006 pontiac grand prix w/ 17,000 or more left on it. like most people i just needed a car at the time. well now i am having to pay for repairs on it that leave me choosing between paying the monthly car note 450-500 or paying for repairs. my credit is not the greatest low 500. would it be wise to trade in for something cheaper or should i keep my vehicle and just deal with it. the repairs are things like a new rac and pinion (i think i spelled that right). i’ll need brakes soon as well. or would it be more beneficial to me to refinance. please help

]]> Comment on How to Escape a High Interest Car Loan with Negative Equity by mario http://www.mynewchoice.com/2007/06/18/how-to-escape-high-interest-car-loan-with-negative-equity/comment-page-1/#comment-93701 mario Fri, 10 Apr 2009 05:12:06 +0000 http://www.mynewchoice.com/2007/06/18/how-to-escape-high-interest-car-loan-with-negative-equity/#comment-93701 i have a 2005 ford focus, i bought it in april of 2006 my interest rate is 10% for seven years i bought it for 17,000 and as of today i still owe 11,000. the value of the car is about 4,000. is there any way i can lower my rate or trade it in without a negative. i have a 2005 ford focus, i bought it in april of 2006 my interest rate is 10% for seven years i bought it for 17,000 and as of today i still owe 11,000. the value of the car is about 4,000. is there any way i can lower my rate or trade it in without a negative.

]]> Comment on How to Escape a High Interest Car Loan with Negative Equity by Kay http://www.mynewchoice.com/2007/06/18/how-to-escape-high-interest-car-loan-with-negative-equity/comment-page-1/#comment-89682 Kay Wed, 18 Mar 2009 02:22:59 +0000 http://www.mynewchoice.com/2007/06/18/how-to-escape-high-interest-car-loan-with-negative-equity/#comment-89682 I have a question regarding loan to value financing on automobiles. I have a 2007 Nissan Murano S that I purchased in April 2007. It was a used vehicle with 7000 miles on it. There were several fraudulent aspects of my transaction and the dealer has been shut down with the owners spending time in prison. At the time I had bad credit and felt I had no other options. The payment on this vehicle is $903.74 for 72 months. The interest rate is 20.72%. I originally financed $37081.18. The current payoff is $31436.51. I have been current and on time until recently when my work slowed down to the point I am earning 2/3 less than I was. Before December 2008 I was only late on one payment. Because of my work deteriorating I decided I could no longer afford this astronomical payment so I began shopping for another car. I quickly learned that the current LTV on this car is 230%. The value of this car now is around 13k with 45k miles on it and in good condition. There was no trade in involved in the purchase. I have figured approximately when I originally purchased the car the LTV must have been close to 160%. Along with so many other fraudulent activities that took place during the transaction I now have to wonder if such a high LTV was even legal. I can see being a little upside down in a car loan especially if there is a trade in involved but am learning as I shop for another vehicle this is unheard of. One dealer after another has told me that I have been taken in a major way. As you can see without having about $15000-19000 cash there is no way I can trade this car in, sell it outright, or refinance it. In December I did a deferred payment with the bank. I have since been told I have no options left for help with this payment. I have tried at least 10 times to talk with them about this matter and it is always the same answer. Can you please tell me if there are any banking laws or regulations that state how high the LTV can be on a loan? If so, can you please also tell me if I have any recourse at this stage? Thanks you so much for your help. I have a question regarding loan to value financing on automobiles. I have a 2007 Nissan Murano S that I purchased in April 2007. It was a used vehicle with 7000 miles on it. There were several fraudulent aspects of my transaction and the dealer has been shut down with the owners spending time in prison. At the time I had bad credit and felt I had no other options.

The payment on this vehicle is $903.74 for 72 months. The interest rate is 20.72%. I originally financed $37081.18. The current payoff is $31436.51. I have been current and on time until recently when my work slowed down to the point I am earning 2/3 less than I was. Before December 2008 I was only late on one payment. Because of my work deteriorating I decided I could no longer afford this astronomical payment so I began shopping for another car. I quickly learned that the current LTV on this car is 230%. The value of this car now is around 13k with 45k miles on it and in good condition. There was no trade in involved in the purchase. I have figured approximately when I originally purchased the car the LTV must have been close to 160%.

Along with so many other fraudulent activities that took place during the transaction I now have to wonder if such a high LTV was even legal. I can see being a little upside down in a car loan especially if there is a trade in involved but am learning as I shop for another vehicle this is unheard of. One dealer after another has told me that I have been taken in a major way. As you can see without having about $15000-19000 cash there is no way I can trade this car in, sell it outright, or refinance it.

In December I did a deferred payment with the bank. I have since been told I have no options left for help with this payment. I have tried at least 10 times to talk with them about this matter and it is always the same answer. Can you please tell me if there are any banking laws or regulations that state how high the LTV can be on a loan? If so, can you please also tell me if I have any recourse at this stage?

Thanks you so much for your help.

]]> Comment on Teaching Your Children How to Save by Vince Powell http://www.mynewchoice.com/2006/09/19/teaching-your-children-how-to-save/comment-page-1/#comment-89398 Vince Powell Sun, 15 Mar 2009 18:10:30 +0000 http://www.mynewchoice.com/2006/09/19/teaching-your-children-how-to-save/#comment-89398 Have you ever consider a mandatory program of matching a certain amount of money that your children put into savings? I think we are going to institute a program of matching all gift money, after tithing and requiring them to save it until they are independent of us. Thoughts? Have you ever consider a mandatory program of matching a certain amount of money that your children put into savings? I think we are going to institute a program of matching all gift money, after tithing and requiring them to save it until they are independent of us.

Thoughts?

]]> Comment on 12 Simple Ways To Save Money On Groceries by Cassie http://www.mynewchoice.com/2008/04/30/12-simple-ways-to-save-money-on-groceries/comment-page-1/#comment-87728 Cassie Tue, 03 Mar 2009 19:33:57 +0000 http://www.mynewchoice.com/2008/04/30/12-simple-ways-to-save-money-on-groceries/#comment-87728 We live below our means, but people should never skimp when it comes to food(ex:ramen noodles). We eat an all organic diet and are vegetarians. Organic foods can almost never be purchased with coupons. A great way to save money on food,that wasn't mentioned,is to grow it yourself!We live in the city,but we are members of a community garden,and on a small patch of land,we grow our veggies. Primarily,we grow tomatoes. We make sauce and jar it which saves us a ton,since we eat a lot of pasta,and the taste is so much better! Anyone can grow tomatoes, they are so hardy. Another tip:Make it yourself!We make our own veggie burgers instead of buying the frozen variety,and then freeze them to last us a long time,saving us a lot of money. Make your own bread,it's so easy and much cheaper than buying from the store,and it's healthy,unlike wonder bread(don't you wonder what the heck you're eating?). Skimping on food is skimping on your health. Healthcare is too expensive in this country to not be careful about one's diet. We live below our means, but people should never skimp when it comes to food(ex:ramen noodles). We eat an all organic diet and are vegetarians. Organic foods can almost never be purchased with coupons. A great way to save money on food,that wasn’t mentioned,is to grow it yourself!We live in the city,but we are members of a community garden,and on a small patch of land,we grow our veggies. Primarily,we grow tomatoes. We make sauce and jar it which saves us a ton,since we eat a lot of pasta,and the taste is so much better! Anyone can grow tomatoes, they are so hardy.
Another tip:Make it yourself!We make our own veggie burgers instead of buying the frozen variety,and then freeze them to last us a long time,saving us a lot of money. Make your own bread,it’s so easy and much cheaper than buying from the store,and it’s healthy,unlike wonder bread(don’t you wonder what the heck you’re eating?).
Skimping on food is skimping on your health. Healthcare is too expensive in this country to not be careful about one’s diet.

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