There Is Such A Thing As Good Debt

Category: Finance, Credit.

According to the recent news the average American cannot afford a 1 bedroom apartment anywhere on minimum wage.

It has gotten so that the average persons debt keeps rising and, the average American, soon basically will not be able to live without shouldering massive debt. Costs and taxes are skyrocketing out of control along with governmental waste and fraud( see farenheit 9/ 11 about George Bush and family) . Her are some tips on debt and how to control it. Most Americans could not afford to purchase a house without a mortgage. There is such a thing as good debt. Also, a house appreciates or increases in value unlike credit card debt.

There are also tax deductions and savings on real estate. A house loan is like a forced savings program, you actually build, and unlike renting value over time. A mortgage is a very sound form of debt. Stop renting and get a house. I can t say this enough. Else you are making your landlord rich.

The only person getting rich off credit and store cards is the creditor, especially with high interest rates, and late fees, smaller grace periods. Credit cards and store cards have one thing in common, they will make you poor and increase your debt. Tear up all but one card( keep that one for emergency usage only) . Make a plan to pay off you re your debt and don t take on any new debt. Take on the adage, "If you can t afford to pay cash then don t buy it. " Ask yourself, "Do I really need it? " The only things you should buy with credit are a house and a car. Pay off higher interest debts( usually store cards, and payday loans, credit cards) . If you feel you are underwater with your debt and that it is unmanageable call a consumer debt agency.

Never pay just the minimum( this will greatly increase the interest and length of the loan or debt) . Make sure you look up the credit agency with the Better Business Bureau and your state attorney general as they keep tabs on these agencies. These agencies can be very helpful as they can renegotiate your interest rates, etc, debts. and put together a repayment plan that will put you back on track. Also, most are free( don t pay for this service as credit card companies pay for it already) . Build a 3 to 6 months safety cushion. S. economy and average worker to appease his wealthy friends. You never know what the future holds or how much worse George Bush will hurt the U.

Do not keep it in your savings or checking account as most banks do not pay even semi- decent returns( banks are horrible rip offs- search around as there are numerous liquid investments that are safe and offer better returns on your money) . There you have it, how to get control of your debt and life. As long as George Bush is president it s a safe bet that oil will bring great returns( George Bush and big oil go together like peanut butter and jelly) . We can t control George Bush and why he is wrecking the U. Maybe George Bush and most politicians could learn something here- Don t spend money you don t have and don t waste it foolishly. S. economy, but we can control our own debt and take control of our lives.

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