Credit Cards For Bad Credit

With all the confusing offers directed towards consumers with credit problems, finding credit cards for bad credit can be a confusing task. One manner to begin is to see applying for a secured credit card. Often this tin be a good first measure towards getting the benefits of a credit card, while rebuilding your credit rating.

Visit www.easy-approval-credit-cards.com to learn more than about bad credit credit cards available for those who have got bad credit.

A secured credit card is a guaranteed VISA or MasterCard that have been secured by a sedimentation to the issuer's bank. Generally, you must lodge an amount, ranging from $300 to $5000, in a low-interest redemptive account or cadmium to secure the credit card.

You then have a credit line for up to 100 percent of your account balance. Each bank have its ain demands for how much you can lodge for your credit line. The bank issues you a credit card using your sedimentation as security.

Unlike many advertised credit cards for bad credit, you are almost guaranteed to have got a secured card unless you just have truly tragical credit. A major credit card, paid on clip over clip is the strongest credit mention you'll ever have. As a matter of fact, for edifice good credit, it's level better than a mortgage or car loan.

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Chose a Credit Card Wisely

When choosing do certain its 1 that suites your lifestyle and that it works with you not against you. Always attempt to pay off monthly if you can and this volition aid your finances and cash flow. If you look at credit in contrary and state well I could salvage state $50.00 a hebdomad then this volition give you a good usher on how much you could pay back on your credit card a month. Always travel for a low APR and expression for the best option for you. Some Credit Card's have got a Rewards program, you'll earn 5% Cash back Bonus others give you gift certificates. So maintain a acute oculus out for the different offers that lawsuit you. A antic new resources web land site called www.americancreditdirectory.com have got 100s of Credit Cards to chose from many with no annual fee's and presentation clip periods up to 12 months, Air Miles, and 0% presentation APR.

You must inquire yourself “ Bash Iodine Need a Credit Card” Here are some things to believe about…

For buying over the Internet is a existent must to have a Credit Card as most of the time you will be asked for one. With the ever increased security nowadays it is very safe to purchase online as long as its from a reputable company.

You habit have got to walk around with large sums of money of cash on you and take the hazards that come up with that. Taking a Credit Card on holiday or on business intends you will not have got to worry about exchange rates and getting local currency. Also for emergencies, cash backdowns and spreading the cost of a large payment or that unexpected out lay. Credit Cards can be a existent safety network if used correctly.

Some of the terminology used can be a spot confusing but here are a few pointers for you.

The APR or Annual Percentage Rate intends simply the rate of interest you will pay on the balance outstanding.

Balance transfer intends that if you have got another Credit Card you can do huge nest egg by transferring you balance to a new card. Some offer 0% for up to 12 calendar months as I mentioned earlier. So used correctly Credit Cards can be a great thing, especially if you can pay the balance off. I utilize mine all the clip and never utilize cash unless its for small things, then I pay it off as my wage travels into the bank, so I earn max interest on my Bank Account. If you have got a Mortgage that offsets the money in your account to what you owe then you can even pay your Mortgage off quicker economy even more than money.

Credit Card Offers - The Top 3 Benefits To Spot

Hardly a twenty-four hours will travel by without you getting an offer to apply for a credit card, either by the traditional mail service or online. If this is something you are considering doing, there are respective key issues that you need to understand before you make up one's mind which credit card offer is right for you.

All credit card offers will offer benefits. Determination the 1 that tantrums your needs is the key!

Let's discourse a few of the things you should be aware of before you apply for any credit card offer.

1. What Make You Need The Card For?

This is the first and most of import inquiry you should inquire yourself. Your reply will assist to make up one's mind just what type of card and what inducements will work best for your needs.

For example, if it is for business use, expression for a card that offers a cash-back for business purchases or rank to a price reduction purchasing club. Most companies will offer a low introductory rate for a specified amount of clip but you need to cognize what it leaps to when that said clip have expired. It may work best for your business if you happen a long-term, more than moderate interest rate than be stuck changing cards every few calendar months to maintain your interest in check.

If the card is for personal use, make up one's mind why and for what make you really need it for. If you be after on using it instead of cash and checks throughout the calendar calendar month but program to pay it off each month, cognize what the card's saving grace time period is and what haps if you lose it.

Pick a card that offers reward points even if you don't carry a monthly balance. This tin be a great manner to rack up the frequent circular miles as long as you're disciplined enough to utilize it this way.

2. Know The Interest Rate

Many card companies will offer an initial interest rate that is quite low, sometimes even 0%, for a designated clip period of time. This rate usually uses to both transferred balances and new purchases.

What you need to cognize is what haps after the introductory form have ended. Volition the interest then skyrocket? Volition the interest rate be more than moderate as long as you have got a good payment history? Look for concealed costs such as as an annual fee or a cash advance fee. These are of import to cognize if you be after on using your card effectively.

3. Incentives

Many cards also offer a whole listing of inducements with their application request. Although many of these are nice, usually you have got to utilize your card a great deal to get them. This tin go a sort of trap. You know, purchase more than than to salvage more.

If you're going to utilize your card anyway, then you might as well have got something to demo for it. Look for cards that offer inducements that interest you and you would actually use.

Is An Instant Credit Report For You?

So what exactly is the difference between a regular credit report and an instant credit report? I was funny about the reply since every clip I looked into obtaining my credit report, I establish certain websites enthusiastically offering an instant credit report. What I establish was that most credit reports actually are instant, so it doesn’t matter. Obviously, the difference is time. The clip is mostly determined by the word form in which you be after to have the credit report.
Your credit is tracked by three chief credit reporting agencies: Equifax, Experian, and Tans Union. By law, you are entitled to a free transcript of your credit report once every year. You can obtain the report through the federal government. Whether or not it is an instant credit report depends on how you order it and how you take to have it. Whether you desire a printed paper by mail or an electronic mail with the information will play a large function in whether or not your report will be quick, and therefore, instant.
If you take to get your credit report through on line intends and then have got it emailed to you, it will be an instant credit report. The information is available to the reporting agencies, and no matter which one you take to use, or if you take all three, the information is immediately available and can be tracked via your societal security number, name, and address. Once that information is given to the agency, their database can make it almost instantaneously. This means, then, that what you have got is an instant credit report.
Another manner to obtain your credit report from the agencies is to compose to the Federal Soldier Trade Commission. Perhaps you make not trust your information going over the internet. If that is the case, you can compose to the authorities and get your free annual credit report. The information will be processed and the report will then be mailed to you. The full procedure may take respective weeks, so what you have could not be considered an instant credit report. However, using the mail to bespeak your credit report may do you experience a small safer than the internet.
A 3rd manner to get your credit report would be by calling. You can name the Trade Committee or one of the agencies. Again, you are entitled to a free report every year, purchase how you travel about it is up to you. If you call, you will still need to submit your name, address, and societal security number to get a transcript of your report. By using the phone to put your order, it won’t take as long as authorship in for it, but it will still take clip as they will have got to mail it to you still. Therefore, it still wont be an instant credit report.
We dwell in a human race that is focused on instant gratification. When it come ups to getting your credit report, you can accomplish the instant gratification, but only if you take to make it online. Online, you can get your instant credit report by visiting the Federal Soldier Trade Committee website or, perhaps, the websites of one of the major reporting agencies.

The Best Credit Card - Shopping For A Credit Card

Credit cards are just like any word form of credit, you should shop around to happen the best deal. Depending on your situation, you may desire to happen a card with low rates, a reward program, or a 0% APR for transfers. Brand certain you look at respective credit card companies to happen the best deal for you.

Comparing Programs

Credit card companies offer respective different types of inducements to lure you to open up an account with them. These rewards can salvage you money or earn you trips or cash back. If you be after on always paying off your monthly balance, then a reward program, such as as airline miles or cash back, may be for you.

If you be after on carrying a balance on your new credit card, then look for the lowest rate. You will desire a no falderal card with no annual fees. You can also take a card with a low introductory fee, usually permanent six calendar calendar months to a year, if you be after to pay off the balance soon.

For transfers, expression for offers of 0% APR. These offers typically last for six to twelve months, but they can salvage you a package on interest. However, be aware that rates on these cards can hit up after the saving grace period.

Finding Credit Card Companies

I’m certain you have got received respective credit card offers in the mail this week, but you can happen better deals online. The major funding companies offer particular reward bonuses and particular programs for students or small business owners.

Look at what each credit card company is offering along with their rates. You may also desire to take a card that you don’t already have. While American Express and Discover offer first-class rewards, they aren’t accepted by everyone. Plan on having at least two different types of cards.

Always Watch For Deals

Once you have got your credit card, go on to look at credit card offers. You may happen an especially low rate or a good rewards program. You can easily apply for the card, then fold an old credit card account. While having respective different types of credit lines are good for your credit history, too many unfastened credit card accounts can ache your score. To see our listing of most suggested credit card companies online, visit this
page: Recommended Credit
Card Lenders Online.

Finding the Best Credit Card

When you begin your Hunt for the best credit card what you're really searching for is the best credit card for your peculiar state of affairs and needs. You may, for instance, be person whe travels a batch for business or pleasure. Travel credit card price reductions may be the best credit card option for you. You may be person who have bad credit. There are credit cards especially designed for folks like you - these would be the best credit card options for your circumstances.

If you are a shopaholic, for example, the best credit card for you might be one that gives rewards in the manner of inducements and percentages back on purchases. Of course, there are some things that do a card the best credit card for many, if not most, credit card users. These are the 1s with the lowest APR (annual percentage rate) and the lowest annual rate. Some cards - in fact, many - have got no annual rate at all. One such as card may turn out to be the best credit card for you, assuming that there aren't hidden fees that ultimately cost you more than than you've saved in lower APR or annual fee.

Keep in mind, though, that the better your credit history, the lower the APR you're going to happen on a credit card. If your credit is poor the best credit card you're going to find, unfortunately, is going to be one with a higher than average APR. That is, until you better your credit standing. There are alternate credit cards for this situation, too.

Other factors to see in determining the best credit card for you is whether you generally pay off your credit card debt each calendar month or whether you carry over a balance each time. The ground this is an of import factor in deciding the best credit card for you is that some credit cards offer a saving saving grace time period on this carryover - others make not, and, in fact, tack on brawny punishments for doing
so.

Fleet, AFB Industrial and Wachovia Bank all have got twenty twenty-four hours grace time periods on their credit cards - clearly the best credit card pick for those who don't pay the balance each month. All other factors being equal, of course.

Another best credit card factor to be considered is whether you typically utilize your credit card for cash advances. This rate can change considerably, and some even have got no fee attached to a cash advance request. This, like anything else, depends on credit rating. USAA's best credit card offer for cash advances, for example, is a free cash advance. It's highest percentage fee is nine percent. Fleet and Wachovia both charge four percent.

The other of import factor in determining your best credit card is how much traveling you do. If you're flying the friendly skies on a regular footing a credit card that allows you rack up credits for each flight you take may salvage you more than than opting for one that doesn't whose APR is lower, or the annual fee less costly.

Sound Advice For First Time Credit Card Users

If you are just entering the human race of credit cards, there is of import information you will need to cognize in order to manage your credit and your finances effectively. Establishing good wonts and a good credit history now is the foundation for a solid financial future. Applying for a credit card in your ain name can assist you set up a sound credit history and will be a valuable plus in applying for a loan for a home, new car, or getting a new occupation or apartment. In addition, there is no safer manner to do purchases online or over the phone than with a credit card.

Along with the benefits of having credit cards, come ups added responsibility. If you abuse your credit cards or neglect to take duty for your disbursement habits, you could stop up in serious financial trouble. Learning how to take the credit card that is right for you is your first step. There are numerous credit card offers from which to choose, and it can be confusing to cognize which is the best one for you. Bash not take a credit card simply because of a low introductory rate or generous rewards. A low introductory rate will increase sharply when the introductory time period is over, and many modern times these types of cards have got annual fees and further costs that are not made clear in the initial offer.

Know the terms of your contract with the credit card company. Interest rates and late fees can cause your balance to lift considerably and making the minimum payments will not assist you pay off your credit card debt. If you do a batch of purchases with your credit card, it will be necessary for you to pay your full balance each calendar month if you desire to avoid further fees. Some credit cards raise your interest rate if your balance transcends a certain amount, and will charge you numerous late fees and other miscellaneous charges if you transcend your credit limit, even if the ground you are over your bounds is owed to fees and penalties.

You should cognize exactly when you will be billed each calendar month and set up to direct your payment in respective years before the owed date. Late payments will ensue in further fees and could reflect badly on your credit report. Even if you be after to make your payment online, program to do so at least 5 business years before your measure is owed to avoid any possibility of late payments. It is very alluring to utilize your credit card for cash advances. You should avoid cash advances except in the lawsuit of emergency. Cash advances generally come up with a higher interest rate than regular purchases and you will be charged an further fee for each cash advance. Even if your interest rate is relatively low, the rate you are charged for amounts resulting from cash advances can be significantly higher.

Be very careful about how and when you utilize your credit cards. Never loan your credit card to friends and do certain you protect your card at all times. Identity theft and credit card fraud are major problems. You will need to take the appropriate safety safeguards to avoid either of these situations. When your monthly statement arrives, do certain you have got kept all of your gross and check your gross against your bill. If you happen any errors, report them immediately to your credit card company. You can learn to manage your credit wisely by practicing good credit wonts now. Credit cards are almost a necessity in our society, but in obtaining credit you must learn good disbursement wonts and do smart financial decisions.

Poor Credit Credit Cards

People who have got got bad credit have many more than credit card options today than they did just a few old age ago. Maybe this is contributed to the theory of supply and demand or maybe the credit card companies just realized how much more than money they can do by charging high interest rates to people with bad credit. I personally believe it may be a small of both.
But no matter what the ground why, there are many credit card companies willing to allow credit to people with bad credit these days. This is good intelligence to those with besmirched credit records. But people with bad credit should measure what actions got their credit into bad form in the first topographic point before applying for more than credit. For many people their bad credit is owed to uncontrollable fortune like the loss of a occupation or medical reasons. But for other people, their bad credit is owed to irresponsible financial decisions. If you have got bad credit and it was caused by the second reason, it is imperative that you change your credit habits. Otherwise you will never better your credit score and will always stop up paying high interest rates and fees. Higher interest rates are obviously the terms you have got got to pay in order to obtain a credit card if you have bad credit. Fortunately, if you are responsible with your bad credit credit card and do your monthly payments on time, over clip you can better your credit score and eventually get a lower interest rate. Brand certain that the bad credit credit card you are applying for frequently reports to the major credit bureaus. This volition see that your credit score will better as quickly as possible by having your positive payment activity reported.
There are credit card websites that have got got researched the best bad credit credit card deals available and have listed them in an easy to read format. Visit www.amex-visa-mastercard.com to look at the details. Many of the bad credit credit cards listed on this land site make monthly credit agency reporting.
We have got all tally into hard modern times and made errors with our credit activity. Thankfully there are bad credit credit card offers available that volition still give you the freedom of having a credit card along with giving you the opportunity to reconstruct your credit.

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Balance Transfer Credit Cards: Are They Right for You?

If you are carrying a balance on one or more credit cards you already have, you may want to think seriously about applying for a new 0% balance transfer credit card offer.

Now you may be wondering how an issuer can possibly offer 0% balance transfers on credit cards, but it’s true. Many leading banks offer interest free balance transfers. That’s right, you can transfer balances from your current credit cards onto the new card that you apply for and pay 0% interest on the balance for up to 12 months. What’s more, some programs have absolutely NO fees to make the transfer, though you must qualify by having excellent credit. Other programs charge a 3% fee of the amount you transfer, but many banks commonly cap the fee at $75. That means that transferring more than $2500 will not cost you any additional fees.

Determining If a Balance Transfer Credit Card is Right for You

There may be a few cases when some consumers do not benefit by transferring to a zero interest rate card. For example, if you carry only a small balance from month to month and you intend to pay it off soon, it may be better to choose another credit card that offers a different benefit such as frequent flyer miles or bonus points good for merchandise, since the 0% interest savings are minimal for you.

But in most cases, taking advantage of a 0% credit card offer is a great deal. After all, why continue paying interest on your credit card balance with one bank when another bank is offering you 0% interest? There is no logical reason not to save yourself money.

The Benefits of a 0% Balance Transfer Credit Card

1. Paying 0% interest for 12 months can provide relief if you need to devote your cash to other expenses. With 0% interest, your monthly minimum payment is actually less than a credit card that charges interest, because more of your payment goes to paying off your principal each month rather than to paying the interest fees.

2. Alternatively, a 0% interest credit card allows you to pay down your debt more quickly because you might be able to increase your monthly payment since you no longer are paying interest for one year. For example, if you transfer $5000 to a 0% card, and your previous card had a 12% APR interest rate and a 3% minimum balance due payment, you would have spent $538 in interest fees over the year. But with the 0% card, you can choose to pay that extra $40 - $50 per month towards your principal, and thereby reduce a sizeable chunk of your debt.

3. Similarly, a 0% interest credit card might even allow you to pay off your balance with less each month if you chose to do this. For example, if you transferred $5000 and intended to pay if off over 1 year, you would need to pay $444 / month with a 12% interest card, but only $416/ month with a 0% interest card, a savings of $28 per month.

An Important Caveat

Please note that with any of the 0% balance transfer credit card offers, you must commit to making your payment on time each month. If you miss a payment or are late, you risk losing the 0% rate and you may find yourself paying a higher penalty interest rate on balances owed, so pay attention to your credit card statements and make your payments on time.

All in all, the savvy consumer should take advantage of the best 0% balance transfer credit card offer he or she can find. The best course of action is to look on the Internet for 0% card offers and assess the best choice for yourself, such as the Citibank Platinum Select Visa (with no transfer fees), or the Chase Platinum Visa, or HSBC Platinum MasterCard to name a few. It is recommended that you apply for the best card your credit history can qualify for and transfer as many balances as you can to take maximum advantage of these offers.

Copyright 2005 Ed Vegliante. Free online reprints of this article are allowed provided the resource box remains intact with a live link back to http://www.credit-card-surplus.com.

Credit Card

A credit card offers just that -credit, the right to borrow finances from a lending institution. When you do a purchase or retreat cash (usually called a cash advance), finances are drawn from your "line of credit." You pay back the amount you borrowed or "charged" each month, or carry over to the adjacent calendar calendar month (revolve) a certain amount that was borrowed and you are assessed an interest charge.
You are then responsible to pay the interest charge as well. Credit cards carry a trade name logotype (e.g., Visa, MasterCard, American Express, etc.) and are accepted by participating merchants. When you utilize your credit card, the transaction necessitates a signature.
By contrast, standard atmosphere cards allow you retreat money from your account when you do a purchase. Secured credit cards are essentially a combination of the two. They look like a credit card, but you must first sedimentation money with the card company. The amount of money you sedimentation goes your credit limit.
Choosing the right credit card for you can be too easy. Unless you dwell in a cave without mail, Internet or phone service, you are probably on the receiving end of tons of credit card offers every year. Some of these offers may look like good deals but have got attributes hidden in the mulct black and white that do them a bad choice. That is why it is always of import to research the best credit card offers available for your situation. -------------------------
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Desperate For A Credit Card? How To Have Any Credit Card You Desire

As discussed in my popular report, "How to obtain a first social class credit rating", starting with small more than than $500, it is possible to construct up your credit evaluations with banks to allow you to borrow considerable sums of money of money.

As long as you have got got always made payments by the agreed time, if not sooner, you can travel to yet another measure in the credit procurance programme.

Begin with a Visa or Mastercard from all the banks that you have borrowed from. After all, they have got seen that you are able to manage credit, and this volition be reflected in your credit rating. Then apply for credit cards from any other bank which supply cards.

You will detect that some credit cards offer a discriminatory rate of interest. This is because they wish to attract new customers, who will then consolidate their borrowing from respective beginnings into this new, lower interest credit card.

On applying to the bank issuing this lower rate card, the bank might presume that you are going to consolidate all your borrowing into this account, and with your first-class credit evaluation will publish a card with small fuss. Once you have got got received the new lower interest card, you are under no duty the cards you already have.

As mentioned in my other report, apply for and obtain as many cards as you get. Providing that you have got got kept to your repayment understandings on all loans and cards, there is no ground why you should be refused any cards for which you apply.

Once that all of import credit evaluation have been achieved, as we outlined in "How to obtain a first social class credit rating", credit card companies will see you as a good risk, and from their point of view, will be eager to have you as a card-holder. After all, they trust to do money out of you.

Once a first social social class credit evaluation have got got been achieved, from clip to time, credit card companies that have you assessed as a good risk, will sell your name and computer address to other card companies within the financial grouping to which they belong, or to others who are not directly in competition to them.

In other words, other credit card suppliers will be eager to take you on board because you are a good risk, and they in bend hope to do money out of you.

If you have ever been refused a credit card, this must be bothersome - so the sooner you get your programme of creating a first class credit rating, the sooner you can turn the tide of how banks and lenders rate you.

Chose a Credit Card Wisely

When choosing make sure its one that suites your lifestyle and that it works with you not against you. Always try to pay off monthly if you can and this will help your finances and cash flow. If you look at credit in reverse and say well I could save say $50.00 a week then this will give you a good guide on how much you could pay back on your credit card a month. Always go for a low APR and look for the best option for you. Some Credit Card's have a Rewards program, you'll earn 5% Cash back Bonus others give you gift certificates. So keep a keen eye out for the different offers that suit you. A fantastic new resources web site called www.americancreditdirectory.com has hundreds of Credit Cards to chose from many with no annual fee's and intro periods up to 12 months, Air Miles, and 0% intro APR.

You must ask yourself “ Do I Need a Credit Card” Here are some things to think about…

For purchasing over the Internet is a real must to have a Credit Card as most of the time you will be asked for one. With the ever increased security nowadays it is very safe to purchase online as long as its from a reputable company.

You wont have to walk around with large sums of cash on you and take the risks that come with that. Taking a Credit Card on holiday or on business means you will not have to worry about exchange rates and getting local currency. Also for emergencies, cash withdrawals and spreading the cost of a large payment or that unexpected out lay. Credit Cards can be a real safety net if used correctly.

Some of the terminology used can be a bit confusing but here are a few pointers for you.

The APR or Annual Percentage Rate means simply the rate of interest you will pay on the balance outstanding.

Balance transfer means that if you have another Credit Card you can make huge savings by transferring you balance to a new card. Some offer 0% for up to 12 months as I mentioned earlier. So used correctly Credit Cards can be a great thing, especially if you can pay the balance off. I use mine all the time and never use cash unless its for small things, then I pay it off as my salary goes into the bank, so I earn max interest on my Bank Account. If you have a Mortgage that offsets the money in your account to what you owe then you can even pay your Mortgage off quicker saving even more money.

Credit Card Offers - The Top 3 Benefits To Spot

Hardly a day will go by without you getting an offer to apply for a credit card, either by the traditional mail service or online. If this is something you are considering doing, there are several key issues that you need to understand before you decide which credit card offer is right for you.

All credit card offers will offer benefits. Finding the one that fits your needs is the key!

Let's discuss a few of the things you should be aware of before you apply for any credit card offer.

1. What Do You Need The Card For?

This is the first and most important question you should ask yourself. Your answer will help to decide just what type of card and what incentives will work best for your needs.

For example, if it is for business use, look for a card that offers a cash-back for business purchases or membership to a discount buying club. Most companies will offer a low introductory rate for a specified amount of time but you need to know what it jumps to when that said time has expired. It may work best for your business if you find a long-term, more moderate interest rate than be stuck changing cards every few months to keep your interest in check.

If the card is for personal use, decide why and for what do you really need it for. If you plan on using it instead of cash and checks throughout the month but plan to pay it off each month, know what the card's grace period is and what happens if you miss it.

Pick a card that offers reward points even if you don't carry a monthly balance. This can be a great way to rack up the frequent flyer miles as long as you're disciplined enough to use it this way.

2. Know The Interest Rate

Many card companies will offer an initial interest rate that is quite low, sometimes even 0%, for a designated period of time. This rate usually applies to both transferred balances and new purchases.

What you need to know is what happens after the introductory phase has ended. Will the interest then skyrocket? Will the interest rate be more moderate as long as you have a good payment history? Look for hidden costs such as an annual fee or a cash advance fee. These are important to know if you plan on using your card effectively.

3. Incentives

Many cards also offer a whole list of incentives with their application request. Although many of these are nice, usually you have to use your card a great deal to get them.
This can become a kind of trap. You know, buy more to save more.

If you're going to use your card anyway, then you might as well have something to show for it. Look for cards that offer incentives that interest you and you would actually use.

Eight Steps to Financial Freedom - Part One

Imagine what you could do in your life if you had financial freedom. Perhaps you would never work again. Or you would work, only it would be what interested you. Perhaps you would get that house, or car, or boat you dreamed of. And the best part would be that you wouldn't have to worry about how you were going to afford these things.

Financial freedom is a great thing, it really is. But to get there it takes work, and if you aren't prepared to put in that effort, then there's no point in reading on. But if you do read on, you'll learn that although it takes hard work to get financial freedom, the steps to it aren't that many.

Step One - "Know thyself".

That's it in a nutshell. What it means is, you've got to take some time out to think about what you want out of life. What are your hopes and dreams? You also need to think about who you are and what it means to be you. What are your strengths, what are your limitations? Where do you want to improve, to grow? What are you interested in, what matters to you? What are you not interested in? And, of course, what does 'financial freedom' mean to you? Take a notepad or a journal and write your answers to these questions. Just write, without hesitation. Keep writing. Then take a break, come back to it later and add some more thoughts. The more you understand yourself, the more solid your foundation for success.

Step Two - "Show me the money!"

To paraphrase Charles Dickens, if your annual income is $20,000 and you're spending £20,001, that's misery; but if your annual income is $20,000 and you're spending $19,999, that's happiness. So you need to know what you are spending and what you are earning. Not just in the big picture, but in the detail. You need to know what you are spending on clothes, treats, meals out and yes, on debt. Either keep a daily notebook, use a computer worksheet, or invest in a package like Quicken, and track your spending and your income in all the gory detail. You'll probably surprise yourself at the way money is leaking out in all different directions. But until you know what's happening, you'll stay powerless to do anything about it.

Step Three - "Eliminate the Negative"

Now you know where your debt is, how much you are spending on it, and where else the money is leaking away from you it's time to start taking control. Take two steps to do this. First, reduce your spending. Do whatever it takes: cut up your store cards (and most of your credit cards); set yourself a weekly cash budget (don't carry checks and cards around with you) and when you run out of your weekly allowance that's it, no more; identify those things you can cut out (magazine and club subscriptions; take-outs; whatever, be ruthless). Second, put all your debts, where possible, into one place. Consolidate those five or six card debts either with a low interest loan or with a low or zero interest balance transfer credit card. Sometimes a balance transfer card can be better than a loan, provided you have the discipline to pay it off in good time or you remember to keep switching to new balance transfer deals.

Step Four - "Accentuate the Positive"

So you've started to take control. The next thing to do is place that control on firm foundations with some good planning. First, set up a spending budget that covers all your outgoings (easy with a program like Quicken) and stick to it. Second, if you have any debts to pay off, set up an automatic payment to come out of your pay check the day it goes into your account - that way you won't miss it. Third, set up a savings plan. That's right, even though things are tough and you're still in debt, set up a savings plan. Find the highest interest account available and start paying in (again set up an automatic payment). It doesn't matter if it's a dollar a week or $100 a week, the key is to save something. You might think it's best to use any spare cash to pay off your debts, but the point of saving something is not - at this stage - to build wealth. The point is to pay off your debts and feel positive about it. Saving just a dollar a week is a positive thing you can do; it's a way of telling yourself that you aren't a slave to your debts, that you are actually in control of your finances and you can stay in control of them.

When you have paid off your debts, that's when you are in a position to move on to building up your wealth so that you can have financial freedom. We'll explore strategies around that in the Steps to Financial Freedom Part Two

Timing is Everything

As we travel closer and closer to the concluding execution of the Bankruptcy Reform Act, many United States citizens are making a huffy elan to their local attorney's office. Rightfully so, as the Bankruptcy Reform Act volition establish many changes that will ultimately do the declaration of bankruptcy a much more than hard task. But as you chew over the impression of a inundation of bankruptcy filings, also recognize that many of the major credit card issuers in the country are making changes to their guidelines that volition cause monthly payments to travel up and in many cases, almost double.

For old age minimum payments have got been put at roughly 2% - 2.5% of a people entire debt. So if you owed $10,000 you were paying roughly $200 per month. Now with guidelines changing a individual could be required to pay 4% Oregon more than each calendar month towards their credit card debt. Using the same illustration that would intend that the same $10,000 debt would necessitate a $400 payment each month.

Although it is not an astronomical change, for those people who are living minimum payment to minimum payment this could be a disabling blow to their wallets. Another thing to see is that most people are unaware of this approaching change, meaning that they may or may not be able to do that payment on time. As we all know, if you don't pay on time, you will pay the fine.

Realize as well, that being charged a late fee is almost always coupled with an interest rate hike. This 1-2 poke from credit card issuers have an eery timing about it. The authorities is going to do it more than hard for people to declare bankruptcy, and the banks are making changes that mightiness cause more people need bankruptcy. It isn't hard to see how these two changes together can, and most likely will, have got a dramatic impact on the remainder of the United States and our commerce. No matter what the result turns out to be, it is quite evident that timing is everything.

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