Credit, Debt, Life, and Steve

What It Feels Like to Be In Debt

Steve Rhode — Fri, 18 Jul 2008 14:47:50 +0000

A dark feeling rises from the pit of your stomach and a wave of heat courses over your face. Every time you think about the bills, your financial situation or the phone rings, this homegrown dread makes itself known. Your stomach churns, the heartburn begins, again.

You’re having problems thinking clearly, you’re tense, on edge and can’t make a clear decision. Forget thinking about the future, how about just getting through tomorrow.

All sorts of thoughts race through your mind. You wonder how you are going to make the car payment, pay for food and if you’d be better off dead than alive.

The creditors are calling, demanding and threatening you for money you just don’t have. You had some and sent it to them to keep them happy in the past but now the savings is all gone and there is no money left.

Rather than thinking clearly or investigating all of your options on how to deal with this, you really can’t think much further ahead than getting to work, getting home and making it through another day.

But work has become a painful task. With your tossing and turning, waking up in a panic about your situation, and not being able to really drift off to sleep till dawn, you’re not rested. Every little thing causes you to clench your jaw; the kids, the cat, the commute, and the co-worker.

Forget having a easy relationship with your spouse these days, now it seems like every thing is about tension and conflict. There is no rest, no sex, less love, more stress. It all feels like it is cascading down on you without hope and without solutions.

The weeks roll by, the car may be gone soon, foreclosure looks like it might be in the future. But how did you get here you ask yourself.

It all started innocently enough, a card here, a deserved vacation there and when cash got a little tight, you used the credit cards for necessities to make the short month stretch just a little bit farther. You’re not really sure how it happened but one day you woke up and the balances were just more than you could believe. A number so high that the thought of ever being able to pay more than the minimum payment seemed impossible.

The transition from hopeful to hopeless went rather briskly. By the time you saw the reality of your situation it made you want to vomit, and angry. Now you’re angry at the world, your family, the kids, the pet, the job, the spouse and you feel like God has abandoned you. You feel fear, vulnerable and afraid. You just want someone to wrap you in a warm hug, rock you back and forth and say it is going to be all right. You just need to find a way to put these bad feelings away so you can get back to living again.

That’s what being in debt is like for many.

Source: Get Out of Debt

What It Feels Like to Be In Debt

How To Defend Against Identity Theft

guestpost — Thu, 17 Jul 2008 14:30:56 +0000

by Jed Jenson

Do you know what’s in your wallet? If you answered no, then you are at risk for having your identity stolen. In fact, if you are not aware of the ways your identity can be stolen, then you are not aware of the ways in which you can protect yourself from identity theft. If this is the case, then it is very likely that you will be one of the 10 million individuals who will have their identity stolen this year. With identity theft, what you don’t know can hurt you. The best defense against becoming a victim of identity theft is by knowing the following ways in which your identity can be stolen.

First, your identity can easily be stolen if you have lost or had your wallet stolen. Once a thief has obtained personal information from a driver’s license, social security card or other identifying information found in your wallet, they will often open credit card and utility accounts in your name. They will also charge large amounts of merchandise on your credit cards. Thieves will also use your identity when applying for jobs in order to use your background to pass criminal screenings.

Another way your identity can be stolen is by becoming too comfortable with your day to day happenings and let your guard down concerning your paper trail, especially your financial paper trails. Believe it or not, identity theft crimes are more likely to be done by someone you know or who you feel comfortable with. For example, if you employ someone to clean your home, you need to be sure that your personal papers are kept in a secure location within your home. Also, be aware of sales clerks, waiters or cashiers who process your credit cards for you. Untrustworthy clerks can duplicate your credit card receipt or use a special device to capture your data. Be aware of who you perceive to be trustworthy before you allow them access to your home or credit cards.

A third way thieves can access your personal information is by scouring dumpsters or trash cans to get receipts from financial institutions or pre-approved credit card applications. They can use this information to create counterfeit checks or open credit card accounts in your name. Thieves can also steal checks, bank statements and other financial documents straight from your mailbox before you ever know they are missing. It is important to monitor your incoming and outgoing paper mail and shred all financial documents before trashing them.

A fourth way thieves steal your identity is through telemarketing phishing scams. Callers may pretend to be an employee of a popular company, such as Wal-mart, and indicate that there was a problem with your payment. Most people fall for this type of scam hook, line and sinker. It is also important to be careful about what you tell others about yourself when on social websites or employment websites. Identity thieves are great at using any tidbits of personal information to take over someone’s identity.

The fifth way thieves steal your identity is by watching your actions at ATM’s. Thieves are literally looking over your shoulder and stealing your information. You should always be aware of your surroundings when using automated teller machines. Thieves look to see what numbers you type in when entering your pin. They then follow you, wait for a chance to get your ATM receipt, and then gain access to your bank account.

The final way to have your identity stolen is to, quite simply, fail to put protective measures in place to keep thieves from gaining access to your personal information. It doesn’t matter whether you purchase identity theft protection services or put your own steps in place to protect your identity, the fact that you are not protected will leave you susceptible to having your identity stolen.

When it comes to knowing how your identity can be stolen, what you don’t know can hurt you. Learning the 6 ways your identity can be stolen is the first step in being knowledgeable about protecting your identity. What you choose to do with this knowledge is up to you. If you don’t do something regarding your identity, a thief certainly will.

About the Author:

Jed Jenson publishes identity theft reviews, such as LifeLock reviews. To see another lifelock review, keep reading.

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Source: Insurance

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How To Defend Against Identity Theft

It’s Official: That’s a Bad Day

Steve Rhode — Wed, 16 Jul 2008 14:58:07 +0000

This photo released by Ashley Campasino via the York Daily Record, shows a red Mazda Miata at the bottom of the Campasino family swimming pool in Stewartstown, Pa. on June 30, 2008. Kim Taylor thought she had set the emergency brake. But her wayward red convertible nonetheless rolled downhill, crashed through a fence and plunged into her neighbors’ in-ground pool. The car was removed from the pool the same day. Shown in the picture are from left, Kim Taylor, her husband, Bob and their daughter Alex.

It’s Official: That’s a Bad Day

Free Glass of Booze for Foreclosure Notice

Steve Rhode — Tue, 15 Jul 2008 14:31:09 +0000

Padre’s Modern Mexican restaurant in Phoenix has an unusual house special, any free drink on the menu at the bar when you present your foreclosure notice.

And thinking about tight money and going out, there are deals out there to be had. For example:

My local Mexican restaurant offers $3.99 lunch special. it changes every day but it is a regular sized portion and all the free chips and salsa you can eat.

Wal-Mart was offering 2 hotdogs and a soda for $2.

Cracker Barrel used to offer a side salad on their menu. That plus a glass of water and you can get out for about $1.

McDonald’s has the dollar menu and an incredibly funny online dollar menu presentation. Be sure to visit Paul’s pad as well.

The link led me to this free ringtone site that you might enjoy as well.

Interesting factoid, the McDonald’s dollar menu accounts for 14% of company sales.

Free Glass of Booze for Foreclosure Notice

Quick Tips for saving money around the Home.

guestpost — Wed, 02 Jul 2008 14:25:23 +0000

If you’re living paycheck to paycheck, the cycle can seem like it is never going to end. In this economy, it’s hard not to spend more and more money each time you go to the grocery store and put gas into your car. Personal finances are getting tighter, and more people are getting bogged down in debt. There are things you can do, though, to help you spend less and save money in this economy.

By applying these tips, getting rid of debt, financial freedom is a possibility to finally being debt free.

Saving Money on Electricity

1. Unplug appliances you’re not using. Even if an appliance is turned off, it still uses a small amount of energy, if it’s plugged in.

2. Fit heavy curtains over your windows. In the winter, it will keep the warm air in, and in the summer it will keep the hot air out.

3. Insulate and weatherproof . Go overboard on the insulation in your house, with heating bills going up during the winter, now is the time to start. Caulk and weatherstrip the cracks around your house, put draught strips under the doors if there are any gaps between the doors and floor, even on the internal doors of your house.

4. Use your outside laundry line. Line dry your laundry outside for as long as possible.

5. Set the room thermostat at 19 degrees in the winter. Try not to use your gas heating in summer even if the day is chilly, wrap up with a jersey.

6. Close the heater vents in rooms you aren’t using, and switch of the lights if nobody is in the room.

Saving Money on the grocery bill.

There are loads of ways to save money on your grocery bills, in fact after your utility bills your grocery bill is one of the places that families can really cut back on, you dont have to go over board in learning how to be to be debt free, just change your spending habits.

1. Buying generic food brands. This is another one of the ways to save money, most stores offer a generic equivalent to foods.

2. Buy House Brands. Next time you are in the store compare the prices between the stores house brand and the other well known brands, you will notice that there is a huge amount of difference in price, especially with cereals.

3. Shop at the cheaper alternative shops. In the UK instead of shopping at ASDA or Tesco try Liddle or Aldi, in the US try shopping at Wal-Mart. I know lots of people who hate Wal-Mart and Liddle, but you could find substantial savings in your bills.

Saving Money on the Telephone, Internet, and Cable

1. Cut out unnecessary services. If you are paying extra fees for services like call waiting and caller ID, then cancel these extra services.

2. Use email or instant messaging instead of calling long distance.

3. Try a digital phone service like Vonage, or internet phone or use service like SKYPE.

4. Use a dial around number for long distance. Especially if you phone internationally often like I do, I have family in SA, OZ and NZ, and by using phone cards and cheaper service I pay around 3p per minute, and there are still cheaper offers out there.

5. Bundle your phone, TV and Cable. See if you can get bundled savings for your phone, internet, cell phone, and satellite services.

Saving Money on Water

There are also a lot of ways to save water on your water bills - without doing anything drastic like bathing once a week.

1. Shorten your showers. Shower more often than using a bath, make an effort to shower quicker.

2. Save money on sewerage. Put a half gallon water jug, or a normal brick in your toilet tank.

3. Gut back on watering your garden .Let your lawn brown out during the summer. Don’t worry. It will come back during the winter.

4. Reuse rinse water from hand washing dishes to water plants.

5. Turn off the water while you brush your teeth.
Start your emergency fund

Now that you are starting to save some money on your utility and grocery bills, don’t spend the money, start a emergency fund ( separate savings account) . A rainy day is bound to come, your tires are going to need replacing and your kids are probably going to get sick. Don’t be surprised when those things happen, be prepared.

One secret to financial freedom is to pay yourself first, before paying any bills, one secret to financial freedom is to pay yourself first. Whether it’s $10.00 or $100.00 a month, just start somewhere and start now. The sooner you start, the more you’ll save and the quicker you will be to no longer living paycheck to paycheck and finally being debt free.

If you want to discover more ways to debt elimination or are looking for debt advice then go to How to Be Debt Free.

debt, Debt Advice, debt elimination, get rid of debt, How to be debt Free

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Quick Tips for saving money around the Home.

Do You Feel It

Steve Rhode — Wed, 02 Jul 2008 13:35:58 +0000

I’m not sure if it is just me, the press or a cosmic vibe but it feels as if times are certainly getting maybe not more desperate, but more economically worrisome.

What is ironic is that at the same time there is good economic news about wages staying ahead of inflation and unemployment remaining relatively low there is no way to avoid the impact of rising fuel prices and plunging property values. Add to that combination, Factor X, the consumer confidence index which is at almost a two decade low, and that spells, worry concern and fear.

Yesterday Yahoo featured an article that I wrote “How to Save Money Without Really Trying” and watching the flood of visitors coming into the site gave me a chance to go back and read the article again. The article is probably more important today, in the current mental economic environment and worth a visit.

Stunning

I heard two sets of statistics yesterday and both stunned me. The first was the serious drop in auto sales numbers and most importantly, truck and SUV sales numbers. The second was a report that said that of all the people killed by handguns, 52% were suicides. That surprised me.

What jolted me about the auto sales reductions was how fast and severe they have hit.

We’ve lived with rising gas prices but sometime recently we’ve crossed a tipping point where the rise in fuel prices has caused a fundamental change in the way we live. Consumers are abandoning the gas guzzlers and I understand that if you want to buy a Toyota Prius there is now a 6 to 8 month wait.

Of course if fuel prices keep going up maybe the number of handgun suicides will go to 60%.

Do You Feel It

Common Financial Problems Among Marines and Service Members

Steve Rhode — Tue, 01 Jul 2008 02:41:38 +0000

This guest post is from Ryan over at Semper Finance, a blog that helps brave Marines to avoid getting cut down in financial crossfire.

Enjoy.

Steve

Hello all, Ryan here, author of Semper Finance. I served 4 years honorably in the US Marine Corps infantry. The Marines I served with possessed many admirable qualities, like bravery, loyalty and discipline. Yet somehow many of my enlisted peers were missing basic personal finance skills. My blog, Semper Finance, aims to provide easy to understand financial advice to Marines and other members of the military (or really anyone who wants to read some kick-ass blogging), from getting out of debt, to getting into the stock market.

I am pleased to have the opportunity to post here on Steve’s excellent blog–Credit, Debt, Life–some of the common financial problems that Marines and other military servicemembers encounter, and what you can do to fix them.

1. No Savings.

There is a downside to always being able to eat in the chowhall and sleep in the barracks–you don’t need to save money. Civilians have to save money to be able to make rent and buy food, Marines don’t have this problem. Unfortunately, because Marines will not go hungry and will not be evicted they tend to spend their whole pay check.

This is a really bad habit to get into (one that took me about 2 years to break), and a difficult one to get out of. If you find that you are in this habit, perform first aid on your bank account immediately–cut your spending to 50% (or less) of your paycheck and start saving up for an “emergency fund.”

An emergency fund is typically six-month’s pay and it is for real emergencies only. Examples of emergencies: paying medical bills, unforeseen legal expenses, posting bail. Examples of non-emergencies: lap dances, new Xbox, lavish dwarf parties. Remember an emergency fund exists to keep you out of debt, and if you do have to borrow money you will be able to receive much better terms if you aren’t broke.

2. High Interest Debt.

One common consequence of having no savings, is acquiring high-interest debt. High-interest debt comes in many forms, if you have any form of it–pay it off immediately. This means you should spend the bare minimum to exist until you pay off your debt. Once your debt is repaid, see Step 1 and start saving.

Some common forms of high-interest debt include:

payday loans–Members of the US military have the most reliable paycheck there is (Uncle Sam) so scam artist loan companies will front you your paycheck for a ridiculously high fee. This ensures that you are broke before next payday, and therefore need another loan.
credit cards–Again, everyone loves to loan money to military servicemen and women because they have a steady paycheck. Get credit cards from a credit union that is looking out for you. If you have large credit card bills from before you joined the military, you may be eligible to have them reduced to 6% under the Servicmembers Civil Relief Act (SCRA, a useful resource, look it up!)
overdraft protection–Protection, ha! If you’re bank is charging you $30 every time you overdraw your account then you are paying ridiculously high interest. Think about it, you over draw by $60 and repay $90 the next week. Thats 50% interest in 1 week! Do not overdraw your account (see step 1).

3. Bad Credit.

The end result of having no savings and high interest debt is of course, bad credit. Fixing this is of course what Steve’s blog Credit, Debt, Life is all about. Peruse through his articles and find what applies to you. If you have bad credit, don’t worry, its not the end of the world and you can fix it over time. If you have good credit, do your best to keep it that way.

Here are some quick tips on fixing bad credit/keeping good credit:

pay bills on time.
don’t bounce checks.
keep your credit card balance low. Having a high balance on your credit card negatively affects your credit score. If you spend a lot of money on your card, make sure you pay it off that month.
don’t own too many credit cards.
the longer you own a credit card, the better. Creditors like to see loyalty in a customer, so if you are going to close out a card, close the newer ones first.

Common Financial Problems Among Marines and Service Members

Adrian Needs Your Advice. Just Out of Jail, Not Prison.

Steve Rhode — Wed, 25 Jun 2008 07:36:47 +0000

Adrian wrote in looking for advice.

I am a 27yo male who got involved in a bad relationship with the wrong older woman. I paid for it with my mental sanity (from which I am recovering), a stint in jail (not prison), and my financial well being (i have not worked for years now).

I am trying to rebuild my life, am now married and a father. I would like to know if bankruptcy is a viable option for me? If so, how should I go about the process?

What kind of attorney should I seek and involve myself with? Anything I should look out for? If and when I do engage in this process, what should I do to attempt to get back to where I was before my private “war”???

Thank you for your time and consideration.

Adrian,

Wow! It sounds like you’ve lived through some very difficult times. And while it sounds like things have been a mess in the past, maybe today marks the first day of a new financial life.

Even though you have lived a lifetime, you are still a young man with a long life ahead of you, as long as you stay away from older women, apparently.

Now that you are a father and married, you’ve got responsibilities to take care of. First, is to be able to do the best you can to provide for your wife and children. Secondly, you have a responsibility to deal with your past financial mess. And is bankruptcy the answer? It is certainly an answer.

Despite what you might have heard, bankruptcy remains a legal and viable solution for many people with insurmountable bad debt. The best use of bankruptcy is to get a fresh start on your life by breaking the bondage of an unrecoverable past financial life.

In a perfect world we’d all be able to repay what we owe, all the time. But when lenders and credit card companies lend, they do so absolutely. meaning, they lend with an expectation of getting paid each month until the debt is repaid, no matter what your personal circumstances are.

Things happen in life and life is not absolute. So when you take into account, mental illness, Mississippi River floods, hurricanes, terrorists, a slow economy, and everything else that can cause a loss of income, it is no wonder that people often find themselves in financial trouble with creditors expecting that same monthly payment, without fail.

I always suggest that people should contact a bankruptcy lawyer, not with the intention of going bankrupt, but to gather information and ask questions. You can find a local bankruptcy attorney online here.

Once you’ve asked your questions and become more informed about bankruptcy and how it might apply to you, then you can make some good choices about if you want to move forward with bankruptcy.

Bankruptcy is a pretty standard process so the biggest deciding factor about which bankruptcy attorney to use is based on communications. Make sure you feel comfortable with your attorney and their staff. You want to feel comfortable in calling to ask questions through the process.

As far as rebuilding your financial life you should do the following two things after your bankruptcy discharge.

First, after your discharge you should get a copy of your combined 3-in-1 credit report and make sure that all the debts that you included in your bankruptcy are now showing on all three credit reports as being included in the bankruptcy. It is not unusual to find debts that were included still being reported as outstanding collection accounts. That’s a bad thing. You can fix that by following the dispute procedure instruction that come with your 3-in-1 credit report you order.

Second, as crazy as this sounds, I need for you to get back in the credit game. You can’t improve a history of bad credit with no credit. So you need to start using credit again, and you will be able to get a credit card by applying for one these cards available for those with poor credit.

This will all take a little bit of time for you to accomplish but there is hope, it can be fixed and you have a good chance for a bright future.

Adrian Needs Your Advice. Just Out of Jail, Not Prison.

Laughter is Good Medicine

guestpost — Tue, 24 Jun 2008 14:23:55 +0000

5 Ways to Tickle Your Funny Bone Group Giggling

Making time to laugh and play can boost your health. Experts say that laughter increases endorphins, strengthens your immune system, and sends extra oxygen coursing through your veins. Find out why some researchers believe laughing is as good as a mild workout.

Burns Calories

Laughing for 10 to 15 minutes raises energy expenditure, increases heart rate, and can burn up to 40 calories. However, it’s not a weight-loss method. “People can’t eat at McDonald’s and then expect to laugh away their lunch,” says Dr. Maciej Buchowski, a professor of medicine at Vanderbilt University. Even so, a few calories every day translates to a few pounds a year—so keep those laughs coming!

Causes “Runner’s High”

Laughing increases positive endorphins, reduces stress and strengthens the immune system. Even just anticipating something funny increases anti-viral, anti-tumour defences, reports Dr. Lee Berk of the School of Medicine at Loma Linda University. The benefits of humour can last up to 24 hours—this may be why we say “laughter is the best medicine.”

Increases Job Satisfaction

Humour improves communication, creativity and overall performance in the workplace, says Dr. Chris Robert. He’s a psychology professor and researcher at the University of Missouri-Columbia who studied how laughter affects employees. He says, “The ability to appreciate humour, the ability to laugh and make other people laugh, actually has physiological effects on the body that cause people to become more bonded.”

Increases Hope and Self-Worth

Watching just 15 minutes of a comedy show can alleviate worries about health or career. Texas A&M psychiatrist David H. Rosen found that a chuckle can replace negative thoughts with positive ones and help formulate a “plan of attack” for problems. This in turn increases feelings of self-worth, which makes overcoming obstacles even easier.

Protects Against Heart Disease

“Research suggests that a good sense of humour wards off heart attacks,” says psychologist Steve Wilson. “Laughter dilates blood vessels so blood flows more freely. Humour was a significant positive addition to standard cardiac rehabilitation.” Dr. Michael Miller, director of the Centre for Preventative Cardiology at the University of Maryland Medical Centre reports that laughing reduces the fat and cholesterol build-up in the coronary arteries. He says, “The old saying that ‘laughter is the best medicine’ definitely appears to be true when it comes to protecting your heart.”

Eliminates “Us Versus Them” Thinking

Comedy makes us more inclusive of others and helps us see the big picture. Happiness and humour reduces narrow-minded perspectives, says University of Michigan psychology researcher Kareem Johnson. Laughing can slash bias and bring people together, which strengthens our work, home, and school relationships.

Improves Counseling Sessions

Therapists who laugh with their clients increase feelings of connection and bonding, reports Dr. Carl Marci, the director of Social Neuroscience at Massachusetts General Hospital. Psychologist Steve Wilson adds, “Laughter is thought to be one of the earliest ways that humans signalled support and ‘it is safe to relax here.’ Good-natured shared laughter between counsellor and client can foster trust, rapport and reduced defensiveness.”

Helps Kids Tolerate Pain

Cartoons can help children cope with painful procedures, such as needles or visits to the dentist. In October 2007, Dr. Margaret Stuber from the University of California’s Jonsson Comprehensive Cancer Centre found humour helped kids tolerate pain longer. In her study, the young patients who watched funny movies still felt the pain of a standardized pain test (in this case, dipping their hands into icy cold water), but they could endure it better because they were distracted.

Improves Classroom Interactions

Research shows that humour facilitates student discussions and increases course enjoyment. Mark Shatz, a psychology professor at Ohio University, found that top ten lists, jokes, and cartoons—all related to the course material—increased academic performance and students’ level of participation. “They expect us [teachers] to be boring and dull. We don’t have to be funny, but the attempt tells students that we’re trying to make the course more interesting.”

Strengthens the Immune System

“Stress hormones are reduced during laughter, allowing the immune cells to function better,” says psychologist Steve Wilson. “Laughing also promotes an oxygen/carbon dioxide exchange and clears airways. Muscles and joints are flexed and stretched, promoting muscle tone.” He says that by some estimates, laughter is a human ability that is about four million years old. “We need to be using it, not stifling it.”

By Laurie Pawlik-Kienlen TheAdventurousWriter.com

Source: Health

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