Debt Management

Selasa, 16 November 2010

When to Draw a Line between Frugality and Luxury

Almost everyone who has gained knowledge and experience on debt management or personal finances have one thing in common to preach and suggest, and that is 'frugality' as it became a recurring theme in all debt related websites and information sources. One would never fall short of articles and essays on how to cut down one's spending and the importance of savings and frugal living, to fight off the debts and credit outstanding. Nevertheless, frugality is the most important keyword to fight off immediate debts at hand, as promoted by most debt settlement companies and debt management firms and advisors.

No one can deny the simple fact that the more frugal you can live, the quicker you will be from your ongoing debt problems. But something that struck me regarding the matter is what happens when the debts get over or expire? If the goal behind being frugal is to pay off the debts, then should we still continue with the same frugality for the rest of our life? In that case can't we allow or afford ourselves some small luxuries! After all, at some point or other we should get back to the normal living mode and stop being frugal to the extreme point! And here lies the trick of drawing a line between frugality and luxury, which acts as a balancing point of saving and spending. As some argue the point that, one earns and invests to not just save for the future and family but also to enjoy life and be able to pay for one's desires and demands.

It is definitely understandable that one should be habituated of a frugal life. This attitude helps in some extent to remember past blunders and to save one's future from recurrence of debts and deficiencies, but that surely does not mean that one must lead a monk's life of forced poverty or extreme modesty. Thus a fine balance has to be maintained between your short and long term financial goals and your sources of income, which means saving your hard earned money does not imply that you should live a pauper's life, sacrificing all enjoyments and luxuries which you deserve to get in one life.

Jumat, 12 November 2010

Best Early Retirement Plans: You Should Know

In the present society people are not interested to continue their job for a long time. They are tired of their jobs as a result of which the rate of resigning from jobs is high. After a particular age people are not at all interested to wake up early in the morning to go to the office, dealing with their bosses. But the real fact is that they have to continue their jobs because they have several unpaid bills to pay and a family to maintain. They go on working for almost 40 years sacrificing family time and the things that they really love to do, then retire. But it was too late then, they realize that they have not saved anything for future. So, the best way is to have your own business before retirement.

Managing a traditional business is not an easy task. It involves a lot of risks and requirements. You have to invest a big amount initially that is not possible for every one. But the best way is that you can start your business with a minimum capital and work hard for a couple of years and you can earn a good monthly amount and passive income.

There are several net working marketing business that you can do simultaneously with your permanent job. For this you have to give some extra effort. After a certain time, you don’t have to do your job. Then you can easily take early retirement and can do your own business.

Senin, 08 November 2010

FRAUDULENT CHECK SCAM

Image via WikipediaYou here in the news all time people committing fraud. Taking peoples life savings, ruining their credit and possibly getting them charged with fraud just because they were sent a check for thousands of dollars. The check looks real it's from a well known bank. With economic times being so hard, the average person would deposit it in their checking account. The bank more than likely would accept it not thinking twice about it. Then a week or two goes by, the check does not clear. The banks calling and asking you when, how, where did you get the check and threatening to charge you with fraud.

I live in San Jose California, I received a check while I was on vacation, when I got back I was going through my mail, I open up this FedEx envelope there was this white envelope inside and nothing else. So I open it up and it is a check for $2,150, automatically I said who would send me a check out of the blue I could not think of anyone. I called the phone number on the FedEx package and left a message for the sender to call me back and let me know why they sent me this check. After a couple of days not hearing from the sender, I got on the Internet and found the number of the company who supposed to have sent the check The Methodist Hospital Harvey Smith 6565 Fannin St. Houstin TX 77030 called them and they said they don't send checks by FedEx it's fake. I knew that this check was to good to be true. The check was draw on JP Morgan Chase Bank 10430 Highland Manor Dr. 3rd Floor Tampa FL. 336610-0000.

People I know times are hard and money is tight, so if you get receive a check by FedEx, UPS or by regular mail. Do your homework don't take it as a gift from God or who ever. Check it out throughly it could save you a lot of aggravation. Like my mother used to say "all money is not good money".Word to the wise don't be a victim.

LM