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How to Get Rid of Fruit Flies
in Your Kitchen the Frugal Way
savings
Get Your Free Guide to Pay Debt Quickly Here
If you’ve struggled with debt for any amount of time, you know how it can feel like you’re in a big black hole, you just can’t seem to dig yourself out of. Balances never seem to go down and you need to keep tapping into credit cards just to make ends meet.
There is plenty of debt advice out there and you may have tried things like debt consolidation, making large payments to your debts to try to pay them faster and other methods that just don’t seem to work. Things just keep getting more and more difficult to manage.
But it really doesn’t have to be that way…
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The kit includes everything you need to get to debt-free faster. From software that helps you quickly and easily calculate your precise debt-free dates to strategies to take control of your finances and even work with your creditors so that you benefit, instead of them – this kit has what you need to eliminate your debt.
Learn more and get debt-free at: Pay Debt Quickly
Everything is available for instant download and you don’t have to wait for anything to come in the mail. That means you can start sleeping better and stop worrying about your debt, starting RIGHT NOW.
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While experts predict we will have a harsh winter, it pales in comparison to the financial crisis prediction that we should brace ourselves for a more difficult road ahead. In the first three weeks of October, the stock market’s volatility was considerable, unemployment statistics rose, and a total of sixteen banks closed. And even though oil prices have declined, it is predicted that production will be reduced next month by 15 million barrels, home foreclosures increased, and home equity decreased yet again.
At a time when the Rescue Plan may have eased the credit crunch to some degree, the dollar has seen a significant decline globally. As nations try to cope with this financial crisis, some experts insist that we have not yet hit the bottom. Everyone is worried; there is no denying that. As early as October 24th, fears of a global recession have come to fruition with its first victim: Great Britain.
In light of recent events and in order to prepare for what is certain to become a difficult road ahead, here are ten ways you can prepare for any eventuality.
1. Take stock of your financial assets. If you have a household budget, you may have to reassess each item to determine where, if anywhere, you can make additional cuts.
2. Put away enough savings to cover expenses for at least 18 months up to two years.
3. Pay down as much debt as possible.
4. Check your insurance policies to ensure they are up to date. If necessary, raise the deductible from $500 to $1000. This can yield up to 25% in savings.
5. Call credit card companies and ask to have your interest rates reduced.
6. Bundle your TV, internet, and cable services through your cable or phone company.
7. If you have a landline and cell phone, you may wish to get rid of the landline and utilize the cell phone exclusively.
8. If you spend a considerable amount of money on entertainment such as movies, theatre, or sports events, it may be a good idea to suspend these activities for a while and put the money saved towards the emergency fund.
9. Winterize your home and begin to utilize energy conservation where applicable. For example, purchase energy-efficient light bulbs and ceiling fans, limit the number of holiday lights or switch to LED light bulbs instead, and unplug appliances when not in use. Shut down the computer instead of keeping it in sleep mode, keep the thermostat low during the day and keep window blinds open to heat a room.
10. Reduce the number of take-out food orders. Buy groceries in bulk when on sale and select a day during the week when you can prepare and freeze meals for two weeks or more at a time.
Difficult times call for difficult measures. We all need to make sacrifices to ensure we have enough savings for any financial scenario.
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On a news broadcast recently, a man was seen coming out of his bank with a shoebox filled with all of his life’s savings.
The sub-prime mortgage debacle is causing home foreclosures, the stock market is tumbling 5000 points, and banks worldwide are not only lacking enough liquidity to loan each other money but also to supply loans to individuals. It’s no wonder this man decided to withdraw all his money. But is this an appropriate response in dealing with this economic crisis?
With the stock market losing over a trillion dollars and banks unable to lend money to individuals to buy cars or grant tuition loans, it is understandable that almost everyone affected by this crisis is frightened.
Taking all of one’s savings out of banks is not the answer, however. Consider this for a moment. If we all went to our local banks and withdrew our money, the banks would have no alternative but to either shut down completely or ask the Federal Governments for assistance. Yes, additional bailouts.
Consider as well that if you have $250,000 or less in a savings, checking, or CD account, the money is insured by the FDIC. This was part of the Rescue Plan signed into law by the President of the U.S. Furthermore, throughout the world, billions of dollars is currently being infused into banks to increase the liquidity that was frozen by the toxic mortgage accounts as a result of the sub-prime mortgage crisis.
Let’s be honest; we are all worried about our individual financial situations. With over 600,000 jobs lost thus far, most households can no longer stay on budget and it is becoming increasingly difficult to weather this storm.
Just this week, General Motors had to lay off thousands of workers and are conducting talks with Chrysler regarding the possibility of a merger. Unemployment is on the rise, as is the cost of gas and food. Retail sales have fallen and businesses, banks, dealerships, and just about everyone is affected by this economic crisis.
It is completely understandable why some would want to withdraw their life’s savings from banks, but consider the alternative to this drastic act. There is no need for panic at this time. Our money is safe and insured in the bank. As a matter of fact, if you have been a customer of one of the banks that either merged or were purchased by another bank, they are still maintaining the same system as regards your money.
Franklin D. Roosevelt once said, “There is nothing to fear but fear itself.” Everyone affected by this crisis needs to read as much as possible about the Rescue Plan. Stay informed by reading the financial sections of your newspaper wherein you will find specific information as to how the government is handling the situation, and prepare for a long haul.
If you have not set a household budget, now is the time. If you can put away enough money to last the next 18 months, do so. We all have to tighten our belts; devise a plan and stick to it until this entire mess is sorted out.
More importantly, don’t panic. Sit down with your spouse and discuss how the economic situation affects the household finances. Explain it in simple terms (age appropriate) to your children so that they will not become frightened if they hear talk among other adults or among their peers.
It may take a while and it will take sacrifice, but this too shall pass and we will be stronger for it.
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