Tag: debt

Debt moves the world

AFTER the IMF lowered its global growth forecast for this year and next, it is worth reflecting that, despite all the efforts of the central banks, this is a very wimpy recovery. There are a number of potential candidates for the problem; poor fiscal policy (in the form of austerity), the effect of demography, or Robert Gordon’s ideas about the lingering impact of innovation. But the debt burden taken on by developed economies in the run up to 2007 and 2008 is surely the most significant factor.

 

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Controlling your personal debt

Learn how to control your personal debt and accomplish your financial goals,by making your personal debt work for you.

1. Americans are loaded with credit-card debt.

2. Some debt is good.

3. Some debt is bad.

4. Get a handle on your spending.

5. Pay off your highest-rate debts first.

6. Don’t fall into the minimum trap.

7. Watch where you borrow…

 

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12 Yr Old Girl Explains What Most Economists Can’t About Money And Debt

The youtube video of 12 year old  Victoria Grant speaking at the Public Banking in America conference last month has gone viral, topping a million views on various websites.

Monetary reform—the contention that governments, not banks, should create and lend a nation’s money—has rarely even made the news, so this is a first.  Either the times they are a-changin’, or Victoria managed to frame the message in a way that was so simple and clear that even a child could understand it.

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How to Cure Your Post-Holiday Financial Hangover

Ask anyone you know, and everyone seems to have a cure for a hangover. Some of the more traditional fixes include aspirin or ibuprofen, lots of water, coffee and lots of food. Then there are more unusual remedies, like drinking pickle juice. But how do you cure a financial hangover? You overspent before the holidays, and now the balance on your credit card bills looks terrifying in the sobering light of January.

 

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10 Free Ways to Protect Your Identity from Identity Theft

Identity theft, which hits more than 12 million Americans per year — carries a per victim cost of nearly $5,000, according to some reports. So, the need to protect yourself is obvious.

And protection doesn’t have to be costly in terms of money or time.

 

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When Should You Consider Bankruptcy?

bankruptcy

If you’re like most people, when you borrow money, you have every intention of paying it back. But then something happens; perhaps you lose your job or your hours get cut, your small business slows down, you get sick or you have to stay home to care for your children or an elderly parent. Whatever the reason, you find yourself unable to keep up with your payments.

When you find yourself struggling with debt, you’re no doubt searching for solutions. But the one you avoid — bankruptcy — may be the one you need the most. Here are four signs you should consider bankruptcy.

 

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Wants vs. Needs: How to Turn Grey Into Black & White

wants vs. needs

At their simplest, expenses really fall into two different categories: wants vs. needs

1. What you need: the things that you need to survive and function effectively in society: food, heat/electricity, a means of transportation, clothing, and water. I’ll even throw in basic telecom and insurance.

2. What you want: everything else.

The problem, of course, is that even in the category of things we “need”, there is a ton of grey area.

 

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Why Utility Companies Don’t Report to Credit Agencies

credit agencies

Every single month I get a bill from Georgia Power, Georgia Natural Gas, Dekalb County Water, Comcast, and AT&T.

And while most of you probably don’t live in Georgia, my guess is you have a similar list of utility obligations that you have to pay every month.

Utilities are a form of credit, meaning some sort of service is provided in advance with the expectation of payment being made at the end of some sort of billing cycle?

If utilities are “credit”, then why aren’t utility accounts commonly reported to the credit reporting agencies?

 

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11 Tips For Retiring When You’re Nervous About The Economy

Affording retirement can be a challenge even in the best economic times. But in our post-recovery world with its steady stream of fiscal uncertainty, retiring can seem the stuff of legend.

Surely, retirement is a more complicated proposition these days: A good 401(k) balance combined with Social Security just won’t cut it. Today, retirement planning needs to be more aggressive and focused, funds need to be more broadly sourced, and retirement itself needs to be more flexibly defined.

 

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6 Reasons You’re Not a Millionaire

spending

Want to be a millionaire? In 2012, Australian mining tycoon Gina Rinehart was officially declared the richest woman in the world, boasting assets of more than $26 billion. Not long after, Rinehart took heat for an article she wrote for the Australian Resources and Investment Magazine, where she suggested that those who wanted what she had should “spend less time drinking or smoking and socializing and more time working.”

“If you’re jealous of those with more money, don’t just sit there and complain. Do something to make more money yourself…”

Obviously, she didn’t run that article through a PR consultant before she submitted it.

 

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