Simple Practices that Lead to Wealth
Are you Struggling to Pay your Mortgage? It is estimated by the Center for Responsible Lending, that 2.2 million homes with subprime loans may be lost to foreclosure in the next few years. That’s 1 in 5 subprime mortgages that are projected to end in foreclosure. And, if the economy falters, it could get worse. If you are one of …
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Bankruptcy Reform Backfires on Banks According to a Bloomberg article on November 8, 2007, the bankruptcy reform lobbied for in 2005 by a group of banks, may be contributing significantly to the rapid increase in foreclosures. Bloomberg’s contention is that since it’s now much harder to discharge credit card debt, strapped consumers are instead walking away …
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Q. What is an instant, sure-fire way to double your money? A. Fold it in half and put it back in your pocket! Just Kidding A. Your 401K plan, with matching employer contribution. The Simple Math $1.00 – Dollar You Contribute $0.25 – Taxes You would have Paid (Roughly) $0.75 – Amount Missing from your Paycheck $1.00 …
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Ok, so I’m late to the Party Every blogger, pundit and reporter has already been waiving their arms around for weeks now, trying to get their 15 minutes of fame from the subprime fiasco. Never mind that most of these hacks never saw it coming. It’s big news right now and everyone is chiming in, …
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The Love of Credit We all love the convenience of using our credit cards. You walk up; buy something, swipe your card and you’re on your way. Credit cards come in very handy for frequent purchases like gasoline and groceries. They are great for automatically paying recurring bills, like utilities. And, they are indispensable for dining, travel …
Continue reading “Credit is the Root of all Evil”