 What makes the Americans spend the money they dont have, and force them to borrow from expensive sources.? |
I am in this country not for long, and I have observed that Americans have a tendency to spend money that they dont have and therfore most of them are under heavy credit card or other debts.
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 How old are you and how much would your net worth have to be to make you retire tomorrow? |
| I'm between 30 and 40. I used to think if i were worth 400,000 pounds, I would retire. But now with house prices, it doesn't seem such a good idea. All theoretical any how. How about you?... |
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 If I gave you $2000 what would you do with it? |
After taxes. Cash.
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Make me want to give it to you by putting a compelling answer.... |
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 How can a teenager earn $200.00 in two weeks? |
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 I work full-time (8am-5pm) but I need extra money. Any ideas where I can earn extra money? |
I am in need of at least an extra $150-$200 a month. I don't mind working on the weekends (my off days) or in the evening after my full-time job. Someone please help with any suggestions
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 Where do you live and how much are you paying for gas there? |
| I live in Fayetteville, Arkansas and the cheapest I can get it for is $2.79 a gallon. For about 2 hours today a local gas station had gas for $1.99 a gallon. I missed it b/c I had to work!... |
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 I need money!!? |
| Im 15, cant get a job and need money fast, any suggestions welcome.... |
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 Can I find out if my ex-husband has filed for bankruptcy via a online site? |
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Just so happens that my ex-husband won't sell the house we own together and know let it go into foreclosure. So it is my business and don't tell me it at so.... |
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 How can a stay at home mom make money? |
| right now, i dont have a choice but to stay at home with my four month old. i need to help my husband financially though. is there a ligit way to make money from home? hate the survey thing. is there ... |
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| I need 200 dollars by tomorrow!!!!!? |
| Does anyone have any suggestions, and i've already tried getting a pay advance from work but they dont do it, HELP!!!... |
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 What are the best ways to make money online? |
| I have recently started writing reviews on Dooyoo and I'm really enjoying it. Are there any other sites like this that pay you to review, that are not scams? Also, what are the other ways that I ... |
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 I have bad credit... Where and how can I get a loan? (Limit:$5,000?)? |
| I really could use a loan to pay off some bills and to furnish my home. I'm thinking 5,000 max. I have bad credit though and my fiance has just started building credit. Where and how can I get a ... |
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 Can anyone tell me if it is legal for a company to chase me for a debt after 12 years? |
| they claim i signed a credit agreement in 1994 and they have had no payments since 1998 and they have now contacted me with legal action 8years later is this right? legal?... |
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john o | In over my head with debt...need advice? |
I have around $20,000 in debt right now and make about $38,000 I am living at home to try to get this down but have fallen behind on payments and feel like I am in over my head. I am 28 and want to move out of my parents home as soon as I can. I am currently looking for a better job that pays more. What can I do to erase or cut in half this debt as soon as possible? The debt is basically on 2 credit cards. Thanks |
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zcommodore
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First, cut up the cards, put them in an ice block, bury them in the back yard, anything so that you stop using them. (Don't close the accounts since that will actually hurt your credit score.)
Pay cash for anything you need and if you don't have cash then you need to find another solution or just don't buy it at all.
If you can't find a better job, look for some part-time work. Extra work on evenings or weekends should be used to pay down your debt.
Focus on the debt with the highest interest rate. Make minimum payments on the rest of your debts. The sooner you can pay off the higher interest rate debt, the better because it will save you money in the long run.
Keep working and it will improve but it will probably take a long time and a lot of discipline.
Edit to add: if you do decide to consider a consolidation loan, you might try the following person-to-person lending site. |
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Wayne Z
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I wouldn't even think about moving out until the debt gets taken care of.
Get a part-time job if you have to and put everything from the second job to the card with the highest interest.
There is nothing you can really do to erase or cut in half this debt besides paying it off. |
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darcymc
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Well you didnt give enough info, do you have other bills ( car note, student loans etc. ) If your parents are letting you live there for free then you should be able to pay off the 20,000 in no time. Give money to your parents for food and any phone charges then every penny goes on the cc bills. Pay off the one that is lower balance first. Make sure you still make at least the minimal payment on the other, but throw everything you can on the other. No more starbucks, no more movies, no more cell phone, nothing! And you will be debt free soon. Good luck. |
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hightechchic
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There aren't really any short cuts.
Looking for a better paying job is a good option. Getting a second job, or doing other odd jobs to make extra money would also help.
For instance, when I was trying to dig myself out of debt (I paid off almost $25,000 in just over two years), I sold stuff on ebay, had several yard sales, and did some freelance computer work to make extra money. (I also put every dime extra toward the debt -- it felt really great to see the balances go down!)
In the end, you're just going to have to buckle down and find a way to bring in some extra money. |
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kel.scot
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There is a great place to go with this. I was in a very similar situation.
This is getting help from real people without the use of banks or credit card companies. Good Luck!
http://www.prosper.com/join/lzc5wh |
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janeg43
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Hard question, and quite frankly a scary one to be answering!!!
Well, debt is a horrible situation to be in as I am sure you are aware!!!
To start with I would sit down and identify all your debts, maybe even what items you have bought with your credit cards. Then just go for them one at a time!!! It will help you feel like you are making progress and not feel overwhelmed. But you might need some outside help to get out!
There is an article titled "Debt Reduction Steps for Beginners". Here is the link http://www.finance-your-life.com/?p=35
Take a look, It might give you a place to start!!
Good Luck! |
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mister ed
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john until you change your habits - if you made a 100k you would have the same problem -- just quit charging and downsize your life style -- bare bones everything until you can see you way out!!! |
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stephenweinstein
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If possible, for the next 4 months, send all your income to the credit card companies and do not spend anything. If that is not possible, then for the next 7 months, send 1/2 your income to the credit card companies and do not spend more than 1/2 your income. |
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Laura J
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Remember this quote: "The amount of money you earn is in direct proportion to the knowledge you keep."
Calm down... Now, focus on creating an automatic payment plan and be willing to give up things in your life style that incur debt in order to get it payed off.
You need to write a budget down and plan your expenditures.
If you have the kind of personality that is motivated and have a positive attitude, you may qualify for a business proposition to help you get the heck out of debt a lot sooner than you think, but you have to message me for more information as this may or may not be for you. |
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Toolman
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stay at home to save cost of living expenses until this is taken care of.
Get a better job if you can. If not, get ANOTHER job. Deliver pizzas at night or cut grass. Is it humbling to do that? Yes, but so is living in debt.
Budget EVERY dollar you bring in every month. If you budget $200/month for food have that money in cash in an envelope and only spend that much. Do the same with gas money etc. |
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Christie
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At $38,000 a year, you should be bringing home about $2,300 a month after taxes. What are you doing with your money?
Are you paying rent to your parents? If not, at least 80% of your monthly take-home pay should be going specifically toward bills.
You need to put yourself on a budget and stick to it. That's the only way you're going to be able to pay down this debt. You might also consider a second job.
Obviously, if you can't pay your bills while living with your parents, you won't be able to pay them when you're out on your own. If I were you, I'd stay with your parents until everything is paid off, so that when you move out, you're starting with a clean slate. |
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Pitty T
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Opt for a debt consolidation loan: The easiest method of getting a debt consolidation loan is to utilize the equity of your home. Equity of your home is calculated and determined by the difference in the amount you have paid and the amount you owe. If the amount you have paid is more than the amount due, you can use it as collateral. This allows you to borrow money on lower interest rates. Besides, you also get tax benefit on this type of loan. Consult your tax advisor before opting for this loan. |
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arismom0708
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consolidate them. |
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mac hockey 74
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Call the credit card companies, tell them your situation and more often than not they will be willing to reduce the interest rate on the cards to something more manageable. I fell into a similar situation and the credit card company changed my interest to 0% for 12 months as long as I allowed them an automatic withdrawal from my account.
Good luck. |
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Debs
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CALL FINANCIAL AID ASAP!!! |
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