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Tag Archives: economy

People Unload Wallets on Health Insurance, Education, and Kids

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Data on millions of American’s shows spending and expenses are up in a number of categories. You probably don’t need me to point that out for your own budget. The data shows spending is up significantly for health care, education costs, and expenses for our dear (sweet?) children. Get Out of Debt Guy – Twitter, G+, Facebook If you have ... Read More »

The Myth: American’s Have Learned to Avoid Debt

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So much of what you hear about the recent economic trends of people learning grand lessons about avoiding debt, are just not true. While the level of unsecured consumer debt has decreased over these past four years, it’s not as if that was some grand American consumer awakening. No, that was the result of poor economic times and a lack ... Read More »

Would it Be Better For Banks to Lend With More Care or Lend With Abandon?

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I was reading It’s Official: You Can’t Blame Banks For Not Lending Anymore and the statement was made: There’s also the possibility that, while there is less of a demand for new debt, banks are also on the brink of tightening lending standards again, worried about new capital requirements from the Fed and Basel III. That could slow down the ... Read More »

People Screwing Themselves Out of Their Own Jobs. The Miracles of Capitalism.

Under what has to be classified as the irony of capitalism, American consumers are doing more to prevent themselves from kickstarting a robust economy. Look, I’m all about getting out of debt and enjoying a life worth living, and this recent piece by Ben Stein was awesome to talk about a life worth living. [flashvideo file=/wp-content/uploads/Decide_to_Live.flv /] But let’s get ... Read More »

Daniel Writes In – “How Can I Get Out of Credit Card Debt?”

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Daniel says, “I’ve been buried in credit card debt and it feels like I make payments each month and instead of things going down, things go up. My interest rates recently went up even though I have not missed a payment or paid late. Another one of my MasterCard’s just lowered my limit a lot. Is there any hope. Thanks” ... Read More »

Rebecca And Her Husband Are Struggling to Keep The Business Going

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“Dear Steve, My husband and I own our own business but have been struggling lately. I work a 9-5 job while he stays at home to run the business. We owe a lot of debt in credit cards from working to get the business up and going – and we’re just a few hundred dollars a month from breaking even. ... Read More »

America’s 35 Hardest Economically Hit Cities

America's 35 Hardest Hit Cities

Nice infographic from BillShrink that helps to show the hardest hit American cities during this economic crunch. Get Out of Debt Guy – Twitter, G+, Facebook Read More »

If You Live In The Real America, Be Patriotic. Go Shopping And Run Up Credit Card Debt.

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Have you heard the stories that the government wants us to get out and go shopping to stimulate the economy? Remember after 9/11 when President Bush encouraged people to go shopping to get things moving again? Well I think the patriotic shopping argument may have gone too far now with Discover flying their American flag credit card. (You can see ... Read More »

Lower Your Car Payment. Skip It, Lower Your Interest Rate and Get Cash Back

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Here is a little financial tip that I’ve used in the past but I keep forgetting about. Refinancing an existing auto loan to lower interest rates and monthly payments. I just got an email that a client was instantly approved for an auto loan refi and that’s good news. You see when this particular person bought their car their credit ... Read More »

A Sign I Passed That Best Sums Up The Economy

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So I was on the final leg of my last motorcycle trip. This time heading back at the end of a 1,800 miles on the road. I’m tired, not feeling well and it is early in the morning but I see the sign below and I just had to turn back around to get a picture of it with the ... Read More »

So What If GM Goes Bust. Let’s Just Hope You Don’t Own a New GM Vehicle.

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There is more to worry about if GM goes bust. Sure, nobody likes yet another bailout but the repercussions in job losses will rocket through not only the car company but all the suppliers, local economies, GM dealers, and so much more. But here is a subject that I have not heard talked about. If GM goes bust and you ... Read More »

How to Talk to Your Children About Your Financial Problems

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I came across this article below, purely by accident, but then again maybe it was more of a divine on purpose? Who knows. Talking to your kids about debt when you are living though problems has always been something I feel is very important. from wikiHow – The How to Manual That You Can Edit Perhaps you find yourself living ... Read More »

As Economy Slows, Lenders Begin to Curb Credit Cards

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As Economy Slows, Lenders Begin to Curb Credit Cards New York Times, United States - 2 hours ago Currently, the total losses amount to 5.5 percent of credit card debt outstanding, and could surpass the 7.9 percent that occurred after the technology ... Read More »

In this economy, layaway is in vogue

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In this economy, layaway is in vogue Tampabay.com, FL - 2 hours ago Consumer credit is getting tighter at a time when rising joblessness, foreclosures and prices make it harder to pay off credit card debt . ... Read More »

Which Presidential Candidate Is Better For Debtors? Personal Finnance Bloggers Question of The Week.

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This weeks personal finance brain trust question was: Which U.S. presidential candidate will most likely do more to help debtors and/or reform current bankruptcy regulations? Feel free to elaborate. WC – A 27-year-old writer living in Chicago and writing about personal finance through The Writer’s Coin. This question seems like a veiled attempt at asking “who are you voting for?” ... Read More »

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