How to Take Charge of Your Debt

4 Things You Can Do Right Now to Manage Your Debt

First Published Date: December 22, 2011

If you have difficulty handling your debt, the very first thing you need do is to admit that you have a debt problem. It is our nature to not see the real picture and keep adding up debt – unrealistically thinking that our debt is still manageable. Today, let me describe these simple steps you can take right now to get rid of this vicious cycle of debt.

Admit and Stop – Admit that your debt situation is beyond control and you need to take steps right now to get rid of your debt. Stop charging more to your credit card or adding more debt into your existing balance. The most important thing you can do is to start your journey towards a debt-free world and you do it starting this moment.

Add Extra Money – Whether it is $10 per month or $50 per month, adding extra towards paying your debt can have a enormous effect on the life of your debt. By adding additional amounts, you are shaving off years from your debt-paying timeline and saving lots of money. So, if possible, pay extra money every month. For those months when you cant pay extra, stick to the minimum.

Stick To Reducing Your Debt – Yes, you can do it. You can have a debt-free life. Start visualizing how life will be and how much freedom you will have when you won’t have debt anymore. To make it happen, you need to stick to reducing your debt and continue paying off all your loans until they turn into zero.

Educate Yourself and Seek Professional Help – Learn about managing money to build your financial future. There are many independent personal finance websites, Canadian government websites, and U.S. government websites out there for free where you can learn about money and finances. Use these free resources to educate yourself. However, there will be times when these resources are not enough to handle your situation – in a situation like this, seek the help of financial professionals to walk you out of your debt situation.

China’s Economy and Global Economic Crisis Toll

China Economy and the World

First Published Date : December 29, 2011

The world’s number two economy is very important to the world. The global economic crisis is taking a toll on China’s economy and economic growth of China is likely to slow down according to various forecasts.

China’s economic growth has been fairly stable and good for quite a few years. However, it has slowed for the last three quarters and it is expected to dip below 9 percent in 2012, for the first time since 2001. According to IMF, if the global economic situation does not worsen, it is reasonable to expect that China’s growth will be at 9 percent. According to a study released by senior Chinese government researchers, economic growth should be 7 to 8 percent in 2012. Asia-based investment bank Nomura International predicts economic growth is likely to slip to 7.9 percent. The last time China’s economic growth dropped this low was in 1998 during the Asia-Pacific financial crisis.

Inflation, the housing bubble, export markets, and appreciating Yuan seems be the major factors behind the declining economic growth. China has seen its inflation falling from 6.5 percent in July to 4.2 percent in November. A lower demand on the housing market will impact other related industries as well. The export sector seems to be the one with the biggest decline and the greatest risk. China’s 20 percent exports go to the European Union and if the economic and debt crisis continue to persist, the impact will be enormous on China. Also, an appreciating Yuan will make export markets more likely to perform at their best.

Although the Chinese government has pledged growth in 2012, its economy is shifting from double-digit, high-speed growth to single-digit growth. It is widely expected that China’s central bank will loosen its monetary policy to support the banking industry, boost domestic demand, and increase economic growth.

The biggest challenge the Chinese regime will face in light of the economic slowdown is how the general Chinese population will react. Will there be any strikes, protests, or uprisings or will everything be calm, quiet, and manageable for the regime as it has been for a while?

6 Things You Can Do Right Now to Manage Your Credit Card Debt

How to Take Charge of Your Credit Card Debt

First Published Date: January 5, 2012 ADawnJournal.com

Credit cards are a modern-day necessity, and it’s unrealistic trying to survive without them. However, if you are unable to manage them, credit cards can take over your life. Let’s look at 6 simple things you can do right now to take charge of your credit card debt.

Stop Charging – If you have credit card debt that you can’t pay in full every month, do not charge anything on the credit card unless you have the money to pay it. This is your first step towards managing your credit card debt.

Avoid Making Late Payments – Always pay on time and never make a late payment. Late payments can affect your credit score. Pay at least the minimum if you are unable to pay the full for any given month. I have seen people not paying a 70-cents bill thinking it would not make sense to pay this small amount. They ended up paying a penalty for late payment and affecting their credit score. A small amount can drag you down a lot if it’s not taken care of in a timely manner.

Call and Ask – Call and ask your credit card companies for a lower interest rate and waive any penalty fees you may have occurred. Optimizebalance transfer offers to lower your interest on credit card.

Pay Extra Amount – Pay whatever extra amount, whether it’s a small or a big amount, you can possibly arrange to pay towards your credit card balances every month. If you look at paying addition amounts in terms of longer time frame, it will accelerate your debt-free endeavour a lot faster.

Be Aware of Credit Repair – The Consumer Reporting Act has rules regarding how long accurate information can appear in a report and no credit/fix companies have the authority to remove, erase, or change this in a consumers’ file. Beware of these companies claiming to fix your file.

Take Charge of Your Finances – Learn about managing money, investing, and building wealth for your financial future. There are many independent personal finance websites like A Dawn Journal, Canadian government websites, and U . S. government websites to help you build your financial roadmap.

How to Cut Cable or Satellite TV, Watch Over-The-Air HD TV Channels for Free, and Save At Least $600 Annually

Why Should You Get Rid of Your Cable or Satellite TV?

First Published Date: January 12, 2012 ADawnJournal.com

Cable TV is one of the major recurring monthly expenses in our household. Cable TV costs can range from $50 to more than $100 monthly. If you can get rid of your cable or satellite  TV, the yearly savings will be a large amount and the saved time will be priceless – if you spend this free time on something productive. And no – I am not suggesting to get rid of TV for good. You can still have some good HD over-the-air channels for free.

How Is The Picture Quality of Free HD Over-The-Air TV Channels?

These HD channels provide crystal-clear, high-definition picture quality superior to cable or satellite TV, as digital signals sent over-the-air are not compressed the way cable or satellite companies compress their signals.

What Do I Need To Capture Free HD Over-The-Air TV Channels?

It depends on where you are. If you live in a high-rise condo or apartment building in a city (like Toronto), the process is really simple. You just need to buy an indoor digital antenna and you have to place this antenna near your window or glass door. I bought an RCA Digital Flat Antenna, which is around $40, looks like a book or a tablet PC, lies flat on any flat surface, and is very low-profile.

If you live in a house, you will need to install an outdoor digital antenna. You can either do the installation by yourself, or you can call a professional installer. You will be saving lots of hassle (if you think of it that way) of choosing the right type of antenna, buying parts to install the antenna, and so on, by calling a professional installer. There are professional antenna installation services that will do all the work for you. The cost of such services will recover within a few months once you stop paying your cable or satellite company. Search for “TV antenna installers” to find an installer near you.

If you prefer to install an outdoor antenna by yourself, you need to buy an outdoor digital antenna and some parts to install it outside. Stores like Tiger Direct, Factory Direct, Canada Computers, Home Depot, etc. provide antennas and the parts you will require to install it by your self. Here are some websites which provide you information on over-the-air TV channels and

http://www.tvfool.com/

http://www.hdtvantennalabs.com

http://www.digitalhome.ca

How Many HD Channels I Will Get?

You will get 10 to 20 or more HD channels and many SD (standard-definition) channels. You will get Canadian channels like CBC, Global, CTV, Citytv, ABC, NBC, FOX, PBS, etc. However, keep in mind that specialty channels like TSN, Showtime, weather channel, etc. will not be available as over-the-air channels.

Last Word

You have to see it to believe the crisp, crystal-clear HD picture quality you can get for free just by connecting an over-the-air antenna to your TV. And how about the big savings you will enjoy year after year for cancelling your cable or satellite TV? You have to experience it to believe it!

5 Tips to Automate Your Finances and Manage Your Debt

Simple Debt Management Strategy

Published Date: January 19, 2012

Debt management is all about managing your finances efficiently, so you don’t fall in the trap of spending more than you have to. Money is such a thing that if you see it, you spend it. It may not be possible for some of us to stop spending unnecessarily if we have cash in hand. That’s why the best way to deal with it is to take care of your monthly recurring expenses automatically so you don’t need to worry about not paying that phone bill or occurring late charges on your rent or mortgage payment.

Here are 5 tips to automate your bills

1. Make a list of all recurring bills you pay every month. Some of these bills can be cable TV bill, Internet bill, cell phone bill, electricity bill, water bill, rent, mortgage, and so on.

2. Call each of your service providers and tell them that you would like to automate your bill payment so it comes out of your bank account automatically. You may need to complete a form and then mail or fax it back to the service provider to complete the process.

3. Automatic bill payment can be done using a credit card as well and in that case the whole process can be done over the phone – you may not need to complete and fax/mail back a physical form. However, use your credit card only if you pay your credit card in full each month. If you are trying to reduce your debt and you have had habits of not paying your credit card bills in full each month, stay away from paying bills using credit cards.

4. Make sure your bank does not have transaction limits or you are not exceeding your monthly allowed transactions, if you have a fee based bank account. I recommend no fee banking account such as President Choice No Fee Bank Account.  

5. It is possible to pay all your bills online each month once you get your bills by accessing your bank’s online banking. However, this process will cost you time every month and there are chances that you will forget to pay bills once in a while.