 What is a good way to get out of debt and stay out of debt? |
| My husband and I have a $1000 credit card and a $2000 loan. We also have two vehicle payments and a house payment so we are limited on money. Should I concentrate on paying off the loan first or the ... |
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 Cans someone solve this mistery ??? |
3 MEN GO INTO A MOTEL. THE MAN BEHIND THE DESK SAID THE ROOM
IS $30, SO
EACH MAN PAID $10 AND WENT TO THE ROOM.
A WHILE LATER THE MAN BEHIND THE DESK REALIZED THE ROOM WA... |
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 Im so confused? |
| i used my debit card to purches a few items. i noticed with each item i bought it of course took the money. but im worried because with each item i bought it says pending. does this mean i wont have ... |
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 Should a nine year old have a savings account? |
| My nephew just turned nine hes a really cool and smart kid so as a gift i thought i give him a wamu saving account so he can learn about saving money and being able to buy his own things and a place ... |
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 I have bad credit from 10 years ago...can I fix and buy a home? |
| I'm 28 years old and got off to a bad start. As soon as I turned 18, I went credit card crazy and have accumulated $10,000 + in credit card debt. I didn't realize how bad it was until I was ... |
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 WHICH is BETTER getting paid each week or every 2 weeks? |
| for the most of my income avoiding taxes and other withholdings.... |
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 I need a personal loan for 8,000 with horrible credit and no one else will help me? |
| Okay so here is my story...I am 28, I got married and divorced with in a year, we were together before that for 9 years. He was the main provider and when it can down to having to pay for the divorce ... |
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 I need some advice on a credit collection issue? |
| Ok six years ago i had some big financial problems. i though i pd every thing offf. Then about 2 months ago i get this message on my machine this guy asking for me and he needs to discuss a lawsuit ... |
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 How can I get a loan?/ To consolidate debts? |
| I have a school loan for like 10 thousand, then I also owe the hospital like 15 thousand, but my credit is not very strong its around 563, I would appreciate it so much if anyone knows what I can do ... |
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 I have a question? |
| I keep on spending money and i want to save but its really hard. What can i do?... |
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 Should I pay my student loan as much as possible or keep my money in the bank? |
My student loan is the only debt I have. The return from the bank is 4.45% and I also have a CD account at 5%. The interest for the loan is lower than that. What should I do?
Additional Details<... |
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 Personal check made out to 2 names.? |
| WAMU check was made out to me and someone else ... the other person already signed it in the back but cant go to cash it with me... can i just go to a WAMU banck and cash it myself???... |
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 How can I earn money at home? |
My birthday is cominq up and i wanna make some of the money. I need $300 and my parents can only qive me $200. How can I earn some money?
I have quite a lot of booksz at home i really dont ... |
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| How can i pay down my home loan sooner? what about pre-pay penaltys? how much goes towards my principal? |
| i have a 350K home loan, I have heard of some programs that say they can show you how to pay down your loan in 1/2 the time or sooner, does this really work? which is the best program to use? please ... |
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 I need £900 to go to a funeral? |
| I recently good some bad news that an old friend of mine has past way, the thing is i can't afford to pay for the cost because hes being buried in New Zealand. How am i going to make that money ... |
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 I have an opportunity to either 1) Pay off my car loan or 2) Invest this amount? |
| Is it better to pay off a car loan and avoid interest payments or use this money to invest with the market the way it is?... |
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Nikita (Australian) | Kevin Rudd's message to Australia: Don't save money, keep spending, don't pay off debt. Is this irresponsible? |
From today the Government, in its bid to stimulate the economy, will start rolling out its one-off payments of about $1,000 to six million Australians.
Some people have the right idea with "a survey from the Australian National Retailers Association (ANRA) of 1,000 people shows 54 per cent of Australians said they planned to save their cash bonus or use it to pay off debts".
Surely what Australia's Prime Minister and Treasurer are encouraging Australians to do is not in the long term interests of people?
The experts all around the world are all saying to pay off credit card debt and cut down on no-essential spending, so why are the Australian Government's ideas so different?
Once people spend their bonus the problems don't magically go away, or do they?
quotes from - http://au.news.yahoo.com/a/-/newshome/5197642/hopes-christmas-bonus-jingle-cash-registers/ |
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Aidan
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From all the advice that experts are giving in the US, UK and in Australia, the message is unanimously to save wherever possible, get rid of credit card debt (often with interest rates of 15-21%) and don't spend money on things you don't really need.
Australia's Rudd Government is also being extremely irresponsible with the running of this campaign which is costing taxpayers $28 million in administration and advertising costs.
Here are some things to read and watch (in no particular order) that will all adhere to the responsible values of paying off debt and saving money in the tough economic landscape that we have found ourselves in:
http://au.pfinance.yahoo.com/columnists/index.html - different specialists/experts from Australia and the world
http://www.oprah.com/topics/money - different specialists/experts
http://www.drphil.com/search/results/money - search results from his show on money - many leading experts
http://www.goodadvice.com.au - Australian Financial Planning Association |
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Goonhilda
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Basically, the Government sees us plunging into a recession and they are desperately trying to keep up appearances that they have things under control. To do this, they need to stimulate the economy, which will generate more jobs, and bring us out of recession. This is Keynsian economics, which says that to get out of a recession, you should spend, spend spend, instead of saving, which only makes the recession last longer. Adolf Hitler (who, I will add, was an abomination, a genocidal despot) must have heard about this theory, because in the years after World War 1, when Germany was in a horrible economic situation, and then received a double blow with the Great Depression, used this 'spend' theory and proved it worked. Much of their infrastructure (that was not destroyed by World War 2) is still in use today. They got Germany out of recession by pumping money into major public works, like the Autobahns, and into 'tractor factories' which were actually making army tanks. So there is a historical example that this works. However, I think just giving money away to cretins who will spend it on plasma screen televisions and Four X and Nintendo Wiis is the wrong idea. They will just piss it up against a wall, and an opportunity for great infrastructure development would be squandered. In the late forties and early fifties, we built the Snowy River Hydroelectric System, which was firstly to create jobs (and bolster our population with a new workforce from Europe) and secondly to generate the electricity we would need in New South Wales and Victoria for future population growth. So we have proved that investment in infrastructure has worked in the past. Why now, when we have a need to build more infrastructure, like power stations, new suburbs, new water systems, and other essential services, is the government squandering an opportunity by just handing out free money to people on social security payments?
I believe the money would be better spent on infrastructure we need, where it would create jobs (so people would still get the money, unemployment would go down, and the whole 'cash flow' of the economy would still work) AND create building works, like road tunnels, housing developments, new hospitals, better schools, etc, without just giving it away. Giving it away doesn't help anyone. Why should someone receive extra money just because they recieve a Centrelink payment? I am on a low income, but not quite low enough for a Centrelink payment or a health care card, and I am not eligible. I certainly don't live the high life. Giving it away will not help society. Using it to kickstart the economy from the ground up -- employment -- would be a far better idea.
In personal finance cases, yes, pay off your debts. That should be the advice that the government is giving to people. However, I am biased and I did not vote for the Labor government, because I don't like their economic credentials. So I am not surprised that they are squandering a budget surplus it took the last government a decade to save, in an effort to stave off a recession that is about five or six years overdue. Telling people to spend it all is wildly irresponsible. Sure, it will stimulate the economy, but it will also cause problems when people in droves have to turn to Centrelink or already overstretched charity groups for help because they are facing bankruptcy and cannot meet their repayments. Only recently, Wayne Swan told people that if they were in difficulty, they should approach Centrelink. Centrelink was then inundated with people looking for help, most of whome were totally ineligible. Not only does this cause further frustration for desperate Australians, it also overwhelms the already overworked staff at Centrelink, who are trying to cope with more unemployed people.
Labor is doing what they know best. Spending is the only way they know how to fix the economy. Sooner or later we'll have a huge budget deficit and they won't have any more money to spend. You are right. Urging people to spend is not in their best interest. By all means, spend a little on Christmas, but don't live outside your means. Be conservative for your own sakes.
Best wishes |
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captain kwa
 |
that's not what he's saying. he's saying take this money i'm giving you and spend it. he's not telling you what to do with the money you earn.
instead of giving these handouts the government could have spent the money themselves to boost the economy. instead they're giving it to us so that not only will the economy benefit but we will also.
i think it's an incredibly good idea, instead of just spending the money he's helping us in 2 ways. you've obviously misinterpreted the idea thinking that he's telling us what to do with our money which is exactly what he's not doing, it's an easy mistake to make. he's only saying, "here, i'll give you this money and i would like you to please spend it so that it will boost the economy." hence, you can buy your christmas presents, while at the same time helping the economy. it's a very good idea that kills 2 birds with one stone by easing 2 burdens families face.
obviously this is only a short term fix but the fact is he's putting measures in place to keep us afloat. the government have long term plans to help the economy also, but things like this that help over the short term are essential because they will boost the economy and make people feel safer. this means people aren't going to panic and sell their shares, stop buying things and investing, if people start doing that we're all in big trouble, it will have a snowball effect and we will go down very, very fast. what the Rudd government is doing is covering all bases and from what i can see because of it we're doing a lot better than other countries and that will have a short and long term effect. |
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Em
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When an economy is based on consumerism rather than a tangible value base like gold - the outcome must be that we keep compulsively consuming, going into debt and creating 'repayments' to the almost fascist like economic set up in Australia [and the US and UK]. If this country wants to get on its feet again and prosper into tomorrow, it needs to shed the imported debt, start buying locally and of domestically produced products as a form of 'protest' against this anarchistic like 'free trade' ... and tell PM Rudd to get over himself and stop pandering to the now failed US 'fiat-currency' experiment that has led us to where we are now. Bring back the gold-standard, and if necessary, we'll dig it ourselves. Most people don't realize that Australia is the third biggest gold producing nation on Earth. We aren't a sub-state of the US regardless of what our PM might think! |
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Min Tous Kiklous Terates
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You know people who are genuienly, in the frail and with long term and life term disabilitys.. are the people who are alwasy forgoten. sure people do become umemployed.. but that does not put you in the same catageroie as the above..and yes it is hard to live on what centrelink gives you these days..when just bread and milk are closer to $7.. and that is ridiculous..and iam going on brand names not just el cheapo,s.just think about that for a while,you will need at least 4 times to buy bread and milk for the fortnight till the next payment, that makes it $28 just for bread and milk... that leaves most if not all..centre link clients..at just $ 170 for the other needs and necisitys they have for the next fortnight ..as most people have only about $200 for food and medicene and travel and doctors after they pay thier rent ..not to mention from that you have to put aside at least $50 for utilitys a fortnight..many people espeicaly older people have not tasted meat or fruit for a long time... they simply cant afford the prices the giant supermarkets are charging..not to mention the inferior qaulity they offer,..it is tough for every one i know ..but especially for the disable and the old and frail...not that its fun having to feed and clothe 4 kids and make ridiculous payments to your creditors.ARE WE IN DIRE STAIRGHTS? we sure are.. it use to be HALF OF AUSTRALIANS WHERE SUPPORTING THE OTHER HALF!! now its about one third of australians are supporting the whole of australia,thats UNEXCUSEABLE...BY ANY STANDRADS..gives us back our jobs gives us back our DIGNITY ..we are sick and tired buying things made overseas ..NOT TO MENTION RECENT MILK SCARES and god know,s WHAT ELSE!!!!... .....MR RUDD does have a mighty task ahead of him... i do hope that with this extra money he has granted to the needdy is a BETTER FUTURE FOR ALL AUSTRALIANS ...LET US NOT GO DOWN THE SAME FINIANCIAL RUIN PATH OF THE AMERICANS... we all still value the AUSTRALIAN DREAM...WE ARE NOT A LAZY NATION ...AS LONG AS THE JOBS ARE THERE AND PEOPLE CAN SAVE AND NOT BE TAXED TOTHE HILT FOR TRYING TO GET AHEAD. we all want to have a FAIR GO HERE MATE..TOO MUCH EMPHASIS IS PLACED ON SECURITY THESE DAYS AND TOO MUCH MONEY IS SPENT ON INSURANCES ,,, dont forget that this extra money given to the needy..is a prelude to what they really want ..just another $100 in the fortnightly payments will make a huge diffrence for all..as long as the giant supermarkets dont take advantage of the pay increase.other wise we are all back to sqaure one....as far as how to spend this money?? well it is xmas but iam sure that most people will spend a little and save or pay some debts off...is it a good thing to spend for the economy......yeah ..but as long as we have jobs to spend... |
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The Queen of Hearts
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As per the Senior's handouts, I read an article for a company that organises tours around Australia primarily for seniors.
The newsletter claims that the Governments handouts were meant to be put back into the economy so "why not spend it on a holiday".
Surely the Seniors, suffering for as much as the have, need the money in savings, or at least a drip-feed system.
The elderly who need it are on a pension and survive on very little.
I don't see how feeding it back into the economy is going to help them.
If they just wanted the money back into the economy just give it to teenagers, surely the majority arent going to put it in a savings fund but spend it on that "ipod" that they want or that "awesome holiday" or even towards a car.
Stop skirting the real issues and get to work Prime Minister! |
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Jodie C
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No its the right thing to do. NOW GIVE ME THE MONEY! I have to wait untill the last minute for mine. All the sales are on now. My bills are due NOW! I just wish he would stop dangling the carrot. NOT FAIR! |
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Royalmaster
 |
The issue has many sides...
I believe the biggest aspect of the issue is that Aussies (here I mean the majority Aussie Aussies) are not brought up to save money in the first place (people end up learning the hard way...). The Government knows this but couldn't do anything about it... therefore, they propose the next best idea... hand out monopoly money for you to play with...
Sure... people are "saving" to pay off debts... may i ask... Why is there a debt in the first place? Around 30% of the debt is bad debt (loans for consumption purposes)...
We (ALL Australians) should start teaching our next generation that spending money doesn't mean you'll gain more happiness. This actually solves the problem in the LONG run... |
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tarielle_au
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Crikey! I would love to spend the extra money I am getting before Christmas. A new big screen tv, or a new super fast computer, or lots of gifts to spoil myself.
However, I have debts too that need to be paid off and that is the main priority for me at the moment.
I only have a small amount of debt but definately want to pay it off asap so I can actually start a savings account again. I have forgotten what that's like.
Also, the house needs repair works done which all costs money too.
Maybe after Christmas I will buy myself something small or otherwise I will put some money aside each week, starting now, to get myself something special at the after Christmas sales.
Now, if Mr Rudd was going to give me an extra $20,000, then I would gladly get all my stuff and the house repairs done to inject back into the economy. No worries! |
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Laura
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If you keep spending you will sink further in to debt and, since you continue to spend and not save, you have no money to pay your debts. As far as I'm concerned it's always smarter to save your money and pay off your debts. Then, once your debts are paid, continue to save and work hard to stay out of debt again. |
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Chairman Meow
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Don't forget fueling inflation. What use is giving away 6 billion dollars if it's just going to make the Aussie dollar worth 20% less.
Remember last year when it was worth 98 american cents? As soon as Labour take over, it slides to 60c, wiping 40% off the value of our investments. |
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chunchun one of da sweetname yum
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Yah!Yah!Yah!!!!!!!!!! That's vERY vERY ::::;::""""iRReR esponSIBLE"""""'
You have to save money a lot but do not become miser also>Hope i help. |
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Kirsty@Mozo
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The government is trying to stimulate the economy to keep Australia from heading into a recession next year. Hence all the handouts we've been seeing lately. Rudd is hoping some of those handouts will be channeled back into the economy via retail spending. If Peter Costello's call out to Australians was to have babies in the name of patriotic duty, Kevin Rudd's is to spend. I know who I'd rather vote for!
But you're right, moderation is the key to everything and the worst thing anyone could do right now with a recession on the cards is get further into debt. So think of it as an excuse to buy you and your family something nice for Christmas if you've got a bit of spare cash to hand, but keep paying down the mortgage and credit cards at the same time.
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Miriam E
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yes |
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