Your Financial Guide

Moody’s Investors Service moved a step closer to cutting the United States’ top-notch credit rating, as lawmakers continue to bicker over raising the government’s debt ceiling.

The ratings agency put U.S. debt on review for a possible downgrade, saying there is a “rising possibility” that the $14 trillion debt cap won’t be boosted in time for the government to keep paying off its debts.

Moody’s had warned last month it would put the nation’s debt on review if Republicans and Democrats couldn’t come to terms by mid-July. Lawmakers have until Aug. 2 to lift the debt ceiling before the United States begins to default.

A downgrade could undermine investors’ faith in U.S. bonds and boost borrowing costs, hampering the economic recovery.

Moody’s also put the Aaa ratings of financial institutions directly linked to the U.S.

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The customers generally have numerous rotating debts to repay. The interest rate is enormous. Besides that, there is no definite tenure, and levies are frequently charged on delayed and overlooked payments. Credit card debt consolidation means to borrow cash for payment of credit card loan and pay a single loan payment monthly to just one creditor. The interest rate is more allied to the credit history of borrower.  This also establishes the fact; the loan requirement for credit consolidation debt should be secured or non-secured.

Debt Consolidation Loans for Credit Card Debt Payments

The most important motive to consolidate credit card debt is to condense the sum of cash required to pay revolving debt every month.

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The following resources both inspired me to get out of consumer-debt and keep me motivated as I strive to pay off my mortgage.  Check out-

Financial Calculators -

A random search of the Internet lead me these debt calculators from over at Dinkytown.  Once I plugged in my own credit card debt and automobile debt, and ran the calculations for various payment methods, I was off and running.

Radio Program -

If you have spent any time at all researching debt reduction, you have no doubt heard of the awesome Dave Ramsey radio program.  Listening to Dave always motivates me.

Blogs -

I love reading Blogging Away Debt, Debt Free Adventure,  The Happy Rock, Man vs Debt, and dozens of other personal finance blogs.  It never fails – When I am tempted to slack up a bit, all I have to do is fire up the old browser, visit a couple of sites written by fellow bloggers, and I’m instantly re-motivated.

Blog Carnival -

Speaking of blogs, each week the Carnival of Debt Reduction, a selection of blog posts from throughout the web is published.  (If you are a blogger and you write about debt reduction, be sure to submit your stuff to the CoDR!)

Bible Verse -

Romans 13:8: Owe nothing to anyone except to love one another; for he who loves his neighbor has fulfilled the law.  That’s my ultimate goal – to owe nothing to anyone, and yet to love everyone.

Family -

I have an awesome wife and three awesome kids.  Back before I began to organize my finances, I was constantly worried about their futures.  Realizing that I wanted to do a better job of providing for them, I got serious about reducing debt and fixing my finances.

Debt is likely the first reason that leads many people to financial crises and even to bankruptcy. What can be said about a debt is, at first it may offer us a way out in fulfilling our immediate needs, but continually it slowly brings us to the black hole especially if took several loans in the same time. People having debt usually haven’t realized of the big financial threat waiting for them in certain period until it really comes to their life. What www.consolidatemydebttoday.com is both preventing you from such bad financial crises and pulling you of the black hole if you are already being trapped.

Here’s what you should know, don’t ever let the peaceful feeling where you still feel secure because your paycheck is still sufficient to pay the monthly payment, controlling you. Becau

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Stocks closed lower Tuesday following new worries about Europe’s debt problems. Treasury prices rose and gold settled at a new high as investors sought out safe assets.

With little economic news in the U.S. following the Labor Day weekend, traders were focused on developments overseas. European stocks fell following news reports that banks there may have more risky government debt on their books than was disclosed during “stress tests” earlier this year. That could mean fees from regulators and more capital-raising by the banks to bolster their balance sheets.

“The soundness of stress tests are, and continue to be, in question,” said Brian O’Reilly, president of the Collingwood Group.

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Determined.

Back when I was getting out of debt, I was the very definition of determined.  I worked hard, extremely hard, to stay on budget, earn extra money, and rapidly pay down my debts.

Once I paid off my debts, I remained determined, and worked hard to fully-fund my emergency fund.  I also worked hard to fund retirement and education savings accounts.  I was motivated, pumped about the progress I had made, and, like I said, determined.

After  couple of years of enjoying the debt-free life, things changed.  I lost a bit of my determination, and a bit of my focus.  I think that this is natural.  Once I reached my major goals, I took a breather, enjoyed some of the benefits of a little extra cash, and kinda relaxed.

Alas, it is now time to breakout ye olde debt reduction mindset and really focus on saving for future purchases.  Why?  Well, at some point, I’m going to need to buy not one, but two, newer automobiles.  We’re also going to need need some newer furniture for the house, and we have lots of plans for the landscaping of the yard.  In other words, there are some pretty big-time purchases that we need to make, in the not-so-distant future, and I need to prepare for them now.

The last thing I want to do is work as hard as I have worked to get out of debt – only to slip up and go right back into it.  I don’t want to simply be debt free – I want to remain debt free, forever.

Side note – Those who are familiar with this site might be asking – “NCN, haven’t you been working hard to remain debt free, already?”  The answer, frankly, is “yes and no”.  On the one hand, I have been saving some money for future purchases, and I’ve continued to live on a budget.  On the other hand, I’ve gotten a little sloppy, not really displaying, in my opinion, the proper degree of intensity.  That, my friends, changes – today.  Rock on.

Almost everyone who enters into a debt consolidation program has little idea what the future holds.

They can be anxious about the results, effects on their credit scores, or the entire procedure itself. Fortunately, if you have a good service, there is really very little to worry about if you do the right things.

“…The first rule to follow when beginning a relationship with a consolidation company is to listen to their advice. The idea that the consolidator is simply a way to pay off your credit card bills fast is completely incorrect. While this is a result of what will happen, there is much more to it…”

The credit counselors will advise you on many different things. Most important will be ideas and suggestions about spending and expenses. Listeni Read more…