5 Action-Ideas That Will Help You!
Turning Debt Into Wealth Program, The key to achieving financial freedom is to first apply these top 5 action Ideas, Today!
These program are the only that one that are 100% for real, and that has you legally pay off your bills. A popular myth is that in order to achieve wealth you must incur indebtedness. Now, the way that the myth goes is that you accumulate assets such as property and high dollar things, use credit cards and loans as a way of building your credit score and your wealth is built in that manner.
However, you would be surprised to learn that the majority of wealthy people do not use it in this manner. These people, in fact, do just the opposite - they employ good personal finance budgets.
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Debtfree living may seem like an impossible dream in today's society. If you want to purchase a house, car or many of the other luxuries you may enjoy, you almost have to have credit.
This in and of itself is not necessarily a problem, but when you purchase a car that sports a price tag that extends way beyond your household budget plan or you purchase too much house for your budgeting finances, you are going to run into trouble.
Credit is not an evil monster that you must slay, but when credit gives way to this heavy financial burden it does begin to get ugly. It is that burden that you want to avoid and the only way to do this is to live within your means.
There are ratios for HUD and FHA for qualifying for a home loan. On April 13, 2005 the ratio was increased by HUD to 31/43. A ratio is the relationship between your income and your expenses. This ratio is generally expresses as 31 over 43 or 31/43.
This ratio was also adopted by the FHA and is standard. In this ratio, the first number, the - top end number - is 31. This means that 31% of your income can be allotted for your housing expense. In other words, if you make $3,000 a month, then your 31% housing expense would be $930.
The second number, or bottom end number is 43% and it represents the total monthly expense that you have. This includes your housing expense and any other that you may have such as credit cards, loans and child support. So, if you make $3,000 a month and your total expense is $1,290, then your bottom ratio is 41%.
Now, some people do get approved for loans and are beyond this ratio, even as high as 50%, but this ratio is a very good guideline if you are in the market to purchase a home. You do not want to get too much house for your budgeting finances and this ratio can help keep you in check.
A adviser can help you make good decisions and help you to get out of financial trouble should your credit endeavors fail.
They can offer solid advice about new credit cards, how to spot - junk - credit cards. They can also give you advice on disputing credit report errors and how to handle a job loss from a financial standpoint. A good adviser can also tell you if the house you are about to purchase is a good move for your budgeting finances.
You are not alone. Consumer indebtedness as a whole is at a record high, totaling more than a trillion dollars. This does not even include mortgages, but is mostly card and car loans.
This is a huge figure. The estimates vary depending on which financial expert you wish to quote, but the average American household has a credit card amount of somewhere between $9,000 and $12,000. Even the low end of this figure is quite disheartening.
Getting out of consumer indebtedness may sound easy and many of the online programs may make it look easy, but, let's get real. It is not easy. It requires will, determination and discipline.
For too many years we have been pushed around and bullied by the big banks and credit card companies. They can charge us as much as 34% interest on our purchases and only pay us 3% or 4% on our savings.
It will not happen overnight, so you need some patience as well. It is amazing. It takes such a short time to get into, but much, much longer to get out of it.
Getting out of consumer indebtedness is an option, but you still need the patience and discipline. There are so many different ways to tackle the problem, if you owe you just need to find out which program works best for you.
Just keep in mind: The only program that is 100% for real is the one that has you eliminate debt legally and pay off your bills and get wealthy the old fashioned way - earn it.
Have you had enough of working hard to make money ... just to find that your paycheck comes in one day and goes out the next to pay your mortgage, your loans, and your bills?
You can pay-off your home, cards, car loans and other bills the slow, old-fashioned way and maybe end up with a few thousand dollars saved for your retirement years...or by using the unique programs listed here, you can stop living Pay-Check to Pay-Check.
Starting Today you will have the knowledge and power in your hands to change your life financially!
Click Here To Learn How to Pay Off Your Bills Completely - No Matter How Much You Make or What You Owe!
NOW! Just imagine what you will feel like, when you wake up one morning and absolutely know that all of your bills have been eliminated.
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