Archive for debt

Have you ever thought about being totally debt free including your mortgage? If you could pay off all your debt including your mortgage in less then 5 years, would you? Sharman Lawson is a debt and personal finance coach. Listen to what she has to say.

Duration : 0:2:54

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Mar
02

Budgeting 101

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SUBSCRIBE to The Discount Trendsetter Show. It’s 2009 and it’s time to get your finances in order. This week’s episode will teach you how to establish a home budget in three simple steps.

Duration : 0:6:30

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Feb
26

How To Legally Get Out Of Debt Fast

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Debt is an agonizing situation to be in. Debt occurs for many reasons one of which is a loss of income or life change. Getting out of debt is one of life's greatest freedoms. Learn How you can get out of debt quickly and leagally for pennies on the dollar.

Duration : 7 min 59 sec

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Obama talks about responsibility, accountability, ever expanding deficits and debt, and then says that it is an unsustainable course. He then proceeds to put forward a budget proposal that is irresponsible, has no accountability, and that sets us on an unsustainable course. Who does he think he is kidding? He is selling us down the road to serfdom.

He is saying that instead of us taking the hard knocks and dealing with our own problems, that we should instead just pass it on to our grandchildren in the form of debt. He is making them pay for what we are consuming now. He is in essence stealing money from our posterity, which by the way is immoral.

Just think of your own life for a minute. Lets say that your grandparents had left you a debt of $250,000? Lets also say that this was a legal contract and that you were required to repay this money during your lifetime. And that the contract specified that 35% of your after tax earnings were to be garnished until this debt was paid off. I believe that you would not be a very happy camper, would you? Not only would you not be happy, but you would also be pretty ticked off at your greedy Grandparents for stealing your money. Well guess what? This is exactly what we are doing to our Grandchildren.

Are the American people living in a fantasy word? Do we not know just how big of a hole that we are digging ourselves into? But the biggest question of all is; how do we expect to deficit spend our way into prosperity, when that is exactly what got us into this mess in the first place.
jbranstetter04

Bush Deficit vs. Obama Deficit in Pictures

President Barack Obama has repeatedly claimed that his budget would cut the deficit by half by the end of his term. But as Heritage analyst Brian Riedl has pointed out, given that Obama has already helped quadruple the deficit with his stimulus package, pledging to halve it by 2013 is hardly ambitious. The Washington Post has a great graphic which helps put President Obamas budget deficits in context of President Bushs.
Whats driving Obamas unprecedented massive deficits? Spending. Riedl details:
•President Bush expanded the federal budget by a historic $700 billion through 2008. President Obama would add another $1 trillion.
•President Bush began a string of expensive finan¬cial bailouts. President Obama is accelerating that course.
•President Bush created a Medicare drug entitle¬ment that will cost an estimated $800 billion in its first decade. President Obama has proposed a $634 billion down payment on a new govern¬ment health care fund.

•President Bush increased federal education spending 58 percent faster than inflation. Presi¬dent Obama would double it.
•President Bush became the first President to spend 3 percent of GDP on federal antipoverty programs. President Obama has already in¬creased this spending by 20 percent.
•President Bush tilted the income tax burden more toward upper-income taxpayers. President Obama would continue that trend.
•President Bush presided over a $2.5 trillion increase in the public debt through 2008. Setting aside 2009 (for which Presidents Bush and Obama share responsibility for an additional $2.6 trillion in public debt), President Obamas budget would add $4.9 trillion in public debt from the beginning of 2010 through 2016.
UPDATE: Many Obama defenders in the comments are claiming that the numbers above do not include spending on Iraq and Afghanistan during the Bush years. They most certainly do. While Bush did fund the wars through emergency supplementals (not the regular budget process), that spending did not simply vanish. It is included in the numbers above. Also, some Obama defenders are claiming the graphic above represents biased Heritage Foundation numbers. While we stand behind the numbers we put out 100%, the numbers, and the graphic itself, above are from the Washington Post. We originally left out the link to WaPo. It has been now been added.
CLARIFICATION: Of course, this Washington Post graphic does not perfectly delineate budget surpluses and deficits by administration. President Bush took office in January 2001, and therefore played a lead role in crafting the FY 2002-2008 budgets. Presidents Bush and Obama share responsibility for the FY 2009 budget deficit that overlaps their administrations, before President Obama assumes full budgetary responsibility beginning in FY 2010. Overall, President Obamas budget would add twice as much debt as President Bush over the same number of years.
http://blog.heritage.org/2009/03/24/bush-deficit-vs-obama-deficit-in-pictures/

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A http://www.uk-loans-mortgages.com/ video about Managing your money during hard times.

Dos

Be honest with yourself about how much money you earn and how much you spend

Look through your budget if your situation changes to make sure you’re living within your means

Find out if you qualify for State benefits or tax credits and claim them

Don’t

Put off dealing with your debts or finances until tomorrow

Spend more than you can afford

Ignore the problem if you are struggling with your debts — get specialist help now

Duration : 0:1:46

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Good ways to get out of credit card debt include not using cards and quickly paying down cards with smaller balances. Stay out of credit card debt by throwing away enticing low interest-rate offers received in the mail with advice from a certified public accountant and credit counselor in this free video on debt management.

Expert: Jerrie Guthrey
Bio: Jerrie Guthrey has been a certified public accountant and credit counselor since 1992.
Filmmaker: Jack Guthrey

Duration : 0:2:46

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Rule One requires that you stop living paycheck to paycheck and instead, live on last month’s income. It takes a bit of work, but the benefits are well worth it.

Duration : 0:4:6

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Categories : family budgeting
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Intelligence For Your Life – Want to reach your financial goals this year? Its easy with a few rules from Money magazine, and Tyler Cowen, professor of economics at George Mason University:

• Pick a specific number.
• Be realistic.
• Measure your progress.
• Go public with your goals.
• Arrange for regular reminders.
Watch this video to get all the details.

You can find John Tesh at: http://facebook.com/JohnTesh – http://twitter.com/JohnTesh – http://twitter.com/JohnTeshRadio & of course his website, http://www.Tesh.com – IFYL

Duration : 0:1:52

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Categories : budgeting tips
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Feb
15

Rule Three of the YNAB Budgeting Method

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Rule Three is to Save for a Rainy Day. You set aside monthly amounts for expenses that happen less frequently (but are usually larger). For example, Christmas, property taxes, car insurance, etc. These can be both known (property taxes) and unknown (car repairs) expenses infrequent expenses. Following Rule Three lets you smooth out your cash flow and avert most crises before they ever start.

Duration : 0:5:7

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Categories : family budgeting
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Feb
14

Get Out Of Debt Free Pt.2

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Find how to get out of debt Free in this 30 minute light-hearted but powerful presentation, offering a unique insight into dealing with debt, Lawfully, Honestly and Truthfully.
Beat the Banks and the Debt Collectors Totally Lawfully and Get Out of Debt Free…

7 Reasons why Credit Card/Loan agreements are unlawful
or why you don’t owe your bank/credit card company anything ….

1. Your Credit Card Agreement is an unlawful contract as it is ONLY signed by you- constituting a unilateral agreement. Contract Law
2. All contracts, in order to be valid, must be signed by someone able to bind the corporation in contract.
Contract Law at

3. Banks create money out of thin air- they have no money to lend you.
Fractional Reserve Banking at http://en.wikipedia.org/wiki/Fractional-reserve_banking

4. It is not possible to actually pay the outstanding amount as the currency is based on worthless paper and ‘electronic funds’ on computers.
Fractional Reserve Banking at http://en.wikipedia.org/wiki/Fractional-reserve_banking

5. You do not have to pay statements, only invoices.
Bills of Exchange Act 1882 at http://www.opsi.gov.uk/RevisedStatutes/Acts/ukpga/1882/cukpga_18820061_en_1

6. You are not lawfully bound to pay anything which is unsigned.
Bills of Exchange Act 1882

7. The uppercase name on the credit card is not your name, but a ‘corporate entity’.
Blacks Law Dictionary
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You do not need a degree in law to deal with banks and debt collectors, however a general understanding of some of the terms we use is not only beneficial to the process, it can also make it more satisfying. It also highlights how the law is often used against us and how little we understand the law in general.

Ens legis: “Ens Legis. L. Lat. A creature of the law; an artificial being, as contrasted with a human being. Applied to corporations, considered as deriving their existence entirely from the law.” “Blacks Law Dictionary, Fourth Edition, 1951.
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Capitis Diminutio
Gage Canadian Dictionary 1983 Sec. 4 defines Capitalize adj. as “To take advantage of -
To use to ones own advantage.”
Blacks Law Dictionary Revised 4th Edition 1968, provides a more comprehensive definition as follows
Capitis Diminutio In Roman law. A diminishing or abridgment of personality; a loss or curtailment of a man’s status or aggregate of legal attributes and qualifications.
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Capitis Diminutio Media – A lessor or medium loss of status. This occurred where a man loses his rights of citizenship, but without losing his liberty. It carried away also the family rights.
Capitis Diminutio Maxima – The highest or most comprehensive loss of status. This occurred when a man’s condition was changed from one of freedom to one of bondage, when he became a slave. It swept away with it all rights of citizenship and all family rights.
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Sui Juris: In civil law the phrase sui juris indicates legal competence, the capacity to manage ones own affairs (Black’s Law Dictionary, Oxford English Dictionary). Thus in Roman law the caregiver or guardian of a spendthrift (prodigus) or of a person of unsound mind (furiosus),

Duration : 0:9:57

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