Frugal Blog

Let Financial Institutions Fail

nodebt — Tue, 30 Sep 2008 13:12:06 +0000

Time Cnn offers an awesom article that I agree with. In it they oppose the bailout: “The Administration and Congress have felt compelled to do something about the “financial meltdown,” so an inefficient and inequitable “bailout plan” has been rushed through the legislature despite harsh criticism from the right and left.” See also my article Bogey Never Said It

Discover a Brighter Campaign

nodebt — Fri, 26 Sep 2008 13:00:11 +0000

Check out an article I submitted to cardratings.com called Brighter Ad Campaign from Discover card. The campaign is absolutely unigue and offers a responsible credit card campaign for a change. See also my article Credit Card’s Dirty Secrets.

Trying To Understnd The Current Bailout?

nodebt — Fri, 26 Sep 2008 12:52:45 +0000

CNN offers a great article on understanding the current finacial crisis and says: “Americans don’t need to worry about another depression. But no matter what happens with the bank bailout, the economy is unlikely to turn around soon.” Read more to understand the implicatins. Also see my article, Fundamentals of Paying Your Debt

What The Rescue Means To Mortgages

nodebt — Mon, 08 Sep 2008 15:23:27 +0000

CNN Reports: “Bailout of mortgage giants should result in lower mortgage costs and make credit more available. But lending standards will stay tight and risky borrowers will still pay extra fees.” See also my article How Much Is A Ton of Interest?

Tax Credit For First Time Home Buyers

nodebt — Wed, 20 Aug 2008 12:47:23 +0000

CNN Reports: “A $7,500 credit may push some new buyers into the market. But the money must be repaid, and the program probably won’t be enough to jump start the housing markets.” See also my article How Much Is A Ton Of Interest?

Credit Card Interest Rates Going Up?

nodebt — Wed, 20 Aug 2008 12:46:42 +0000

Per Fortune Magazine: “The squeeze has already started, which is why Congress is in the process of passing the Credit Cardholders’ Bill of Rights, which would prevent issuers from changing rates and terms without warning, among many other provisions.” See also my article Credit Cards’ Dirty Lil’ Secrets

Americans Cut Credit Cards

nodebt — Wed, 30 Jul 2008 12:58:30 +0000

CNN Reports: “Don Perras, a college professor approaching retirement age, says the family has stopped using cards, except for rare instances like booking hotel rooms on the road. Instead, the couple uses their debit cards.” See also my article Credit Card’s Dirty Little Secrets

Tips for How to Get a Bargain of a Deal with a Personal Loan

nodebt — Wed, 18 Jun 2008 14:47:54 +0000

If you are planning to apply for a personal loan in the near future there are things you can do beforehand to ensure that you get a bargain of a deal.

If you want to get the best deal possible on a personal loan then make sure you have a credit line that is small as opposed to large. If you have a medium to large credit line prospective lenders will view this as a liability.
Whatever small debts you have on your credit cards, pay them off preferably before the date they are due to be paid on. In fact you are better off cancelling any credit cards that you do not use on a regular basis. Consider the annual fees of your cards as well as the interest rates before you decide which ones to do away with.
If you are not a thrifty person, you need to curb that wild tendency as soon as possible! Do not put your home or any of your other assets at risk by taking on a high equity credit line in order to pay off soaring debts incurred on your credit cards that are due to reckless spending habits.
Be aware that rates change on a daily basis so look around for the best rates possible on a personal loan. Consider rates when the market is on an even keel and relatively calm. As well, make sure that all of the quotes you are given by various lenders are from the same period of time.
When you fill out the application for the personal loan, observe neat penmanship and make it as easy for the lender to read as possible. The information you provide is not the only thing that matters. How you present the information plays a key role as well. If it is neat and legible you look more credible and professional in the eyes of the person who is doing the assessing.
Do not sign any documents related to the personal loan without first reading over them thoroughly, making sure that you understand what you are signing. Pore over the documents line by line and if you need clarification on any point, by all means, ask for it.

Lowered Gas Prices????

nodebt — Mon, 16 Jun 2008 12:47:48 +0000

CNN Reports: “Saudi Arabia, the world’s largest oil producer, is concerned that sustained high oil prices will eventually slacken the world’s appetite for oil, affecting the kingdom in the long run.” See also my article How Bad Is Your Debt Vulbnerability?

FED Stats On Economy Don’t Agree With Reality

nodebt — Wed, 28 May 2008 13:40:30 +0000

CNN Reports: Only a few years ago, Americans who considered themselves middle class were scrimping to pay for their kids’ college education. Now, many of them are struggling to cover far more basic needs - gas and groceries. See also my article, Debt Priority, Hierarchy of Debt