Over the last 20+ years of helping citizen like you, and families like yours, find, qualify for, and own the home of their dreams, often with itsybitsy or no money down and even with less than perfect credit, I have observed the spending habits and life styles of a large cross section of Americans. I have counseled first time home buyers, young upwardly-mobile professionals, generals, officers and enlisted personnel of all ranks and services, construction workers and Dot Com Millionaires. For decades, most middle class Americans felt like they were plainly "Living the American Dream". What Does That Mean, you might ask? Was this Fact or was it Fiction?
For most middle class American families, living the American dream meant consumption not savings, with the view that "he who dies with the most toys wins". Has this all the time been a bad thing? My answer, of course, would have to be that it didn't use to be! So, what changed you might again ask? Millions of Americans are now facing the daunting task of paying out more than they are taking in every month, How did this happen to them, and how could they have been so foolish? The truth for many is that they were paying their bills, were putting a itsybitsy away for retirement, had good credit and were living the American dream. Others were plainly living from refinance to refinance. They were paying off their deficit spending with the paper profits from the appreciation of their homes, and who can blame them? They weren't doing whatever distinct than their deeply indebted government? These same Americans are now facing the realities of a collapsing economy and restricted credit. So what happened to the responsible people, the individuals and families with stable jobs, 401Ks, and good resignation programs? Many of these hard working responsible Americans have watched as good paying jobs have been systematically shipped over seas. First it was an outsourcing of manufacturing jobs. This was followed by factories, and entire industries absorbing overseas. Next came the loss of the white collar and technology jobs. This was followed by a virtual dismantling of America's manufacturing base through sweetheart trade deals. Last, but not least was the creation and issuance of a laborer Visa program sponsored by your government. It was designed to import "Cheap Foreign Labor" that under cuts the remaining good paying jobs that were ready to the middle class. This institution endorsed has been widely supported by the Corporate Elites of firm such as Bill Gates of Microsoft fame. They have even gone so far as to state there are No marvelous American Workers and have embraced the view of Globalization as long as it supports their corporate profit agendas and have ignored and scoffed at this virtual destruction of the American economy.
You see, it has become a Global Environment for Big Business. profit is everything, and the loss of American Jobs, income, retirements and even homes is plainly below them. Let them eat cake rings out from the Heights of Corporate America and the hidden Halls of Political Power.
So Why All the Rhetoric; Is, this an record on Debt Reduction, or an Economic and Political discussion? The reply is appropriately yes on all counts. You see, to properly embrace this qoute you must understand its root causes and the fact that you are in it alone. "The Best Government Money Can Buy" will not bail you out. That Bail Out was reserved for Wall Street...not "Main Street". The 700 Billion Dollar Bailout was all the illustrated Proof needed by "Main Street" and a root cause of the Populist backlash that is now swelling against Wall Street, Corporate America, and Our Very Halls of Political Power.
Now I need to ask you some questions? Are you spending more than you're making? Are you on the debt treadmill with no end in sight? Do You Feel Trapped or Beaten?
Are you Mad? Don't Get Mad...Just Get Even!
This record is a first step in your process of insight the problem, embracing the qoute and creating a Strategy to "Help You Get Even" This is not a Bean Counters approach to debt allowance but a Strategy Session that helps you cut off Facts from Fiction. It will help you define and focus on the specific steps you need to take to perform your own quantum of financial relaxation and the Key to your "Xtreme" Financial Makeover!
Stop the Madness!
What ever you are presently doing with your finances...Stop! Stop the Madness Now!
Isn't it a Fact that you didn't get in this position by development good choices...so stop whatever you are presently doing and look at all the ways you might be able to save money and sacrifice your monthly debts. When credit cards are maxed or out of control; if you're paying double or triple the minimum cost and finding no real change, extreme debt calls for extreme actions. Spending is an addiction to many even when it's used to cover basic expenses.
What is Fact and What is Fiction? What beyond doubt Works To radically sacrifice your debt? remove emotion from the buying decision and replacing it with good old tasteless sense.
Fact: You must generate a budget if you are to understand where you are and where you want to be. You have to generate a plan, and a budget is plainly spending your money with intention. When you generate a budget, you are spending on paper, on purpose, before you go shopping or leave the house, your budget is your road map to your financial destination.
Fiction: I don't have time to work on a budget.
Fact: Debt is not a tool: It is a method used by banks to earn money. This buyer debt does not advantage You!
Fiction: Debt can be used as a tool to leverage your assets and help you generate prosperity. In spite of specialist commentary by a host notables, it plainly doesn't work that way for the rank and file.
Fact: Actual debt allowance solutions begin when you come to grips with your spending habits. True debt help is not easy, and it starts with your understanding. Start using cash or debit cards only. Put your credit cards in a locked drawer, Lock the keys in your safe deposit box.
Fiction I can solve my debt problems by plainly absorbing things around, like switching our balances to low-interest cards. I can fix my debt problems with a uncomplicated phone call to a credit counseling service. These services will never literal, the real problem, which is your behavior. Associates promising quick fixes are commonly scams and can cause roughly irreparable damage.
Fact: Debt consolidation is like using a band aid on an infection! It plainly gives the illusion of fixing the problem. You can't borrow money to sacrifice debt! Debt consolidation is not only dangerous, but it is contagious. It treats the indication of illness leaving the habits that caused it unchecked.
Fiction: Debt consolidation is the solution to my problem.
Fact: Being covered in debt is more tasteless than ever before, and being buried in debt is rampant.
The average person has in the middle of six and 10 credit cards; the average household carries about ,000 in credit card debt. My personal small sample of mortgage customers indicates numbers many times this amount. In fact, I rarely see numbers this low, even for a particular person.
Unfortunately, many Americans are plainly in Denial. With today's classic credit denial being, that I have to charge because I can't live on what I'm making. They are watching their debt continue to spiral out of control. To make matters even worse, these same individuals typically have no accident Fund. You need at least one month's total cash flow in the bank for an emergency. They also won't have a resignation list because there is plainly nothing left over at the end of the month to save. You have too much debt when you are switching your balances from card to card and at your current rate of payments if it will take more than 4 to 5 years to have all your debts paid off! development your minimal monthly payments is not handling your debt. I ask you, is this, the American Dream?
Fiction: If can handle my debt, how can it be too much?
A Dirty itsybitsy Secret
You are a creature of habit. The longer you have been in debt, the more comfortable you are with it, and the harder it is to get rid of it! Money problems are primarily solved by lifestyle changes. To get out of debt, you must make hard choices that change the way you have been living. Real Change...means life style changes not just rolling debt from one card to another. It requires that you "Stop the Madness Now"!
Fact: credit management services take a fixed cost from you and spread it around, to all your cards and commonly to the delight of no one. If you stick with this method long enough you may get out of debt, unfortunately your credit will be trashed.
Fiction: I know who can save me...I'll hire a credit counseling or debt management service!
Fact: Pay off your smallest debt first. This will generate more cash flow which you can use to accelerate the pay off of the next smallest debt and so on and so on! all the time pay your essential services first before any bills are covered as it does itsybitsy good to be debt free living under a bridge or in a home with no utilities. Be sure to value the options ready to you with regard to the community of high balance credit cards at less than the full amount. The same applies to renegotiating your mortgage through a Loan Modification trade from your lender. Sub Prime, High Interest Rate and A.R.M. Loans are prime candidates for this form of relief. Stick to your guns...This Is All About You!
Fiction: I should pay off the debt with the top interest rate first or I best pay these guys first because the squeaky wheel gets the grease.
Fact: Bankruptcy is a life changing and gut-wrenching experience. An touch that continues on long after the gavel has fallen.
Fiction: I'll just file bankruptcy and start over. It's Just That Easy"!
Your debt allowance hit list! What You Can Do beginning Today!
Extreme debt calls for extreme measures and "Xtreme" debt allowance means reducing the cost of all things we do and whenever the inherent negotiating the balances on superior accounts. Ask Yourself How Can You Lower these monthly expenses.
-Living Expenses including the home that we live in.
Can you move to a more affordable home, rent out a room/basement, cut utilities by being more vigor efficient?
-What car we drive and how many we have.
Selling a car saves a payment, insurance, gas, And maintenance. Many citizen have started to car pool or commute while the recent gas crunch and are loving it
-Vacation or play time expense.
What are you doing spending money on toys or trips when you can't get out of debt?
Sell the motorcycles, boats, snowmobiles, and sports cars. Dump the premium cable holder and every other Play Time Diversion.
-Public, or home school, can beyond doubt save you about ,000 a year and that's for elementary and high school tuition! hidden Schools are plainly not in the budget!
- Negotiate a reduced pay off on your large high balance credit cards. I'm sure you have seen the ads on T.V. Contribution this option. You don't need an external service to do this. This option is ready to those who are delinquent or find that their financial status has changed. If your house is now worth less than it was when you bought it, and you can't sell it because you don't have any equity, renegotiate your mortgage by working with tour lender to avoid foreclosure. A more affordable cost might also mean the capability to pay off your other obligations quicker.
Pay Cash: citizen who pay with cash spend less and even tip less. They save money because it's harder to part with the green than throw out the old plastic. No More Big Spender For You! Shift your priorities, scale back, modify your lifestyle choices, and did I Say...Pay cash or debit only!
Consider those itsybitsy extras that you don't need. A Starbucks a day is about 5 Bucks. A pack of cigarettes is other 5 Bucks. A sit down lunch 20 bucks! Thirty bucks a day times 360 days in a year is ,800 and that's after tax.
Go for a hike, walk around a lake, or go for a bike ride. Cheap and healthy options to recovery money.
Sell Something: Have a stable sale, sell that extra car, motorcycle, boat, snowmobile etc. Do you beyond doubt need those musical instruments you haven't played in the last ten years? What do you have to sell? resignation Accounts: Don't Even Think About It! Don't cash in your resignation accounts...you're going to need them later.
This record is but the first step in your insight of how you got to where you are at today. It is a espy of the choices you can make to rectify your past mistakes, and a clear foresight of how you can look at your future! Don't Get Mad...Just Get Even!
extreme Financial Makeover - Learn the Secrets That Big Money Doesn't Want You to Know
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