August 30, 2010

Get Out of Debt (Part 3 of 4): Pay the Lowest Balance First

A More Motivating Method to Eliminate Your Debt
Another alternative similar to the highest interest rate method involves starting with the lowest balance debt.

The fist debt will disappear more quickly and the process is a bit easier to initiate.  This can be a little more motivating for some.

You Pay More Interest

Even though it appears that the lowest balance method gets things done faster, you effectively pay more interest on other debt. In the end, this method is more costly and you will be debt-free later.

August 27, 2010

Get Out of Debt (Part 2 of 4): Pay the Highest Interest Rate Debt First

The Best Way to Get Rid of Consumer Debt

The best way to get out of debt is to completely pay off your debts in order starting with the highest interest rate item on your list.  This should be done while still doing minimum payments on other loans.

Mathematically, this is the best method to get rid of debt. Paying off the highest interest debt first is also the most financially sound method.

Domino-Effect After the Elimination of The First Debt

The toughest part is to get rid of the first liability. Subsequently, that first debt’s payment will be

August 24, 2010

Get Out of Debt (Part 1 of 4): Immediately Reduce Interest You’re Paying on Your Debts

Run Away from High Interest Credit Cards

Many opportunities are probably already there for you to reduce interests that you pay on your debts.  Particularly, high interests on your credit cards balance.

Do Some Changes Now

Nobody knows your situation better than yourself.

So use your low interest credit line, a personal loan, savings sleeping in a low interest account (even if institutions call them high interest savings accounts) or at a pinch another credit card with not so greedy interest rate.  Do some little changes today!

August 19, 2010

Before You Can Improve, You Must Be Able to Measure Your Progress

Before implementing changes to fix problems and improve, the first step should be to adequately evaluate your value and measure your performance.

Therefore, you must begin by putting in place a system and tools to process all the necessary data. This database will help you assess the situation and observe improvements as they arise.

If already existing measuring tools are not adequate, a certain data gathering period must be planned to ensure that your data analysis tools are valid to monitor your evolution.

August 13, 2010

Find A Good Family Doctor While You Are Healthy

Your Access-Point to the System

Nowadays, it is essential to have a good family doctor. Indeed, a good family physician will give you access to the whole healthcare system and its services.

Our healthcare system is not as bad as we believe; it is often only difficult to gain proper access to it.

Register Your Family Before You Get Sick

Because the registration process is usually pretty long, do what necessary now while you are still in good health and that you can bare the dreaded waiting-list. Even if this can take several months, it will be worth the wait.

Register all members of the family with the same doctor. Your future doctor is perhaps in a neighboring city, so make sure to check all services available in your surrounding area.

August 05, 2010

Focus on Quality Dividend-Paying Stocks

Dividends and Appreciation

Blue-chip dividend-paying stocks should occupy an important part of your investment portfolio. They can be acquired directly by buying shares of solid dividend-paying companies in at least three different sectors of the economy. Some mutual funds or ETFs also specialized in dividend stocks.

Indeed, in addition to often offering interesting capital gain, these stocks also provide regular dividends to their owners. Those dividends may be easily reinvested or provide regular income.

August 02, 2010

Everybody Must Have a Basic Home Insurance

Despite the fact that I am the first to say that we are too insured, there is a form of insurance that should not be overlooked: Home Insurance.

Basic Home Insurance is Affordable

Indeed, even if you are a tenant, nobody can afford to be without a basic home insurance. Do a little shopping, depending on the size of your home and where you live, you should be able to find an adequate coverage for 20 to 30 dollars a month. Home insurance is usually not that expensive.

Prevent a Tragedy

Without home insurance, the consequences of a disaster such as a fire are tragic. In addition to living the experience of a disaster, a lot of people end up in the streets while having lost all their belongings.