Debt Free Today - With a Five Dollar Bill

Everyone wants to become debt free. The long line out of the convenience store the night of the lottery drawing is a testament as to how many people dream and wish for a windfall of cash to solve all of their debt problems.

The kids get sick and you get a doctor bill.

The car needs tires so you get a tire bill.

The kitchen sink needs a repair so you get a repair bill.

The lawn mower needs replacing so you get a credit card bill.

Before you know it, all of these unavoidable expenses that are above and beyond what the paycheck can bear, transform into a sea of overwhelming bills and debt that leave most people stressed to the max, desperate for a quick solution to solve their financial woes.

So they wait in line at the convenience store hoping for the jackpot.

Maybe I just described your situation, maybe I didn’t, but here’s what we can all learn from this scenario; spending $5 will NOT help you start to get debt free today. I’m not picking on folks that play the lottery; hey if that’s your thing, great, what I’m trying to illustrate here is that that’s $5 that could have been spent doing what you REALY want to do; get out of debt.

I know it’s not sexy and may even seem pathetic. Maybe you’re thinking, “What good is five bucks going to do? I’ve got thousands in debt so what’s the point?”

The point is this; it’s not the dollar value we’re talking about that counts, but the behavior and attitude involved that really matters. Maybe you can pay only one extra dollar toward your debt relief efforts. So what. It’s still a dollar more than before. I know you’ve heard it before, but something REALY is better than nothing. Know why?

Because this time next year, if you don’t, you’ll be in the exact same place with the exact same problems and frustrations.

Getting out of debt starting today requires more than just driving down to the convenience store with a hope and a prayer. Instead of spending $5 on a one-in-a-bazillion chance to win something, make your credit card payment $5 more than it would be otherwise. It’s a great start to prosperous living that too few people ever take.

I know it doesn’t seem like much right now, but what REALLY MATTERS is what you are doing, right now, with the five bucks in your wallet or purse.

Listen, most people don’t take me seriously and think I’m nuts when I suggest this, but getting out of debt really does start with just a $5 bill, not a lottery dream.

If each month, you look at every dollar bill you have in this way, repeatedly choosing to use it wisely, you will begin to get out of debt and finally bring a real and genuine solution to all of your financial frustrations.

THAT is how to become debt free starting today. Begin small and build up from there and your debt free dreams WILL become a reality

Paul Smith is author of the highly acclaimed debt elimination program, JumpStart To Freedom. Building on his years of experience as a professional Compensation Analyst, Paul is helping hundreds of people become debt free today, save money and create wealth.

This entry was posted on Thursday, November 30th, 2006 and is filed under Uncategorized. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.
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How Credit Scores Affect Mortgage Applications

With a good credit score an applicant will receive prompt response from many lenders, all of them offering low interest rates and low down payment options. The loan amount offered also may be high. On the contrary a low credit score would result in a lot of rejection from various mortgage financers. Because creditors wouldn’t come forward easily to give credit to individuals that have a history of difficulty in repaying existing loans. After all, creditors take risk when they finance mortgages against the credit history of a debtor. Naturally, they will wish to remain on the safe side and pick up less risky ones that have good credit histories. A good credit score means less chance of missing on payments and therefore less risky.

But there are some real risk takers that will come forward to finance mortgages for individuals with bad credit scores. They would charge high down payments and always high interest rates though. They may also fix additional charges for every little paper work and may charge high closing rates. The loan amount offered will also be considerably less. The individual with poor credit scores will not have much choice but to accept the terms and conditions as there are no other alternatives. This is a tight situation and to avoid this you must have a good credit score.

People with bad credit may fall in to the trap of ’secured loans’. Secured loans are the ones where the loan applicant offers an asset as collateral security. The lender becomes secure about the repayment of the loan and not the borrower. Securing a loan with bad credit score becomes easy only when the applicant is willing to offer some asset as collateral security. This again is a very dangerous situation where an individual runs the risk of losing his entire collateral asset in case of failing to pay the loan installments in time. An individual should always avoid such type of a loan.

Resort properties normally require large amounts of finance which a person with bad credit may find it difficult to obtain. So it is always advisable to keep your credit score high. Incase the credit score becomes low due to unavoidable financial reasons it can be improved upon. There is no need to lose hope simply because a person has a low credit score. If the property that he intends to buy has good equity he should go out and try to obtain finances for it. There are many sub prime lenders willing to offer their services.

For a review of your credit report as it relates to a mortgage loan and a consultation on the best loans available to you, give us a confidential, no obligation and no cost call.