Money and finances

Things to do to get out of debt

admin — Mon, 10 Nov 2008 21:10:16 +0000

1. Credit cards.

The average American household has nearly $9,200 in credit card debt, and the average interest rate runs in the mid- to high teens at any given time.

2. Debt is good.

Borrowing money for a home or college usually makes good sense as long as you don’t borrow more than you can afford to pay back.

3. Debt is bad.

It’s not a good idea to use a credit card to pay for things that are consumed quickly, such as meals or vacations, if you can’t afford to pay off your monthly bill in full in a month or two.

4. Curb on spending.

Many people spend thousands without thinking. You should write down everything you spend for a month, cut back on things you don’t need, and start saving the money left over or use it to pay back your debt.

5. Highest-rate debts.
You should pay down the balances of loans or credit cards that charge the most interest.

6. No minimum trap.

If you pay the minimum due on credit card bills, you’ll barely cover the interest you owe. The debt will continue to grow instead of going down.

7. Paying down your mortgage may not be the greatest idea.

Don’t pour all your cash into paying off a mortgage if you have other debt. Mortgages have lower interest rates than other credit card debt.

US economy by President-elect

admin — Mon, 10 Nov 2008 19:41:26 +0000

The U.S. president-elect believes that America is facing the biggest economic challenges in her history. Barack Obama met in Chicago with economic advisers, which was the first meeting since the election press conference.
The future U.S. president said that the United States needed a rescue plan for the middle class, which would create new jobs and bring relief to families whose entire life savings had melt during the last recession. It should also provide extension of unemployment benefits. Barack Obama wants to revise the plan to rescue the economy presented a few weeks ago by President George Bush. The plan, however, should not only help the victims of the economic crisis, but also stimulate the economy.

Obama warned that the repair of the American economy will be a very difficult and arduous task. He stressed the immensity of the tasks that lie ahead. The President-elect pointed out that he had already undertaken some steps, but climbing out of the economic slump would be neither quick nor easy. The U.S. President-elect wants the package passed as soon as possible.

Ethanol exit plan

admin — Sun, 01 Jun 2008 14:49:57 +0000

Energy independence is synonymous with homegrown biofuels, specifically corn-based ethanol. The US senators voted on “Iowa farmers versus Saudi oil ministers”. The US Congress mandated that 7.5 billion gallons of ethanol to be blended into the fuel stocks by 2012. Last year, Congress increased the mandate to 15 billion gallons by 2015.
Proponents and opponents of ethanol are waging a war in Washington over whether biofuels have a future.
Ethanol has always been opposed by oil industry executives who are fearful of competition at the pump.

Inflation is a problem

admin — Mon, 26 May 2008 14:43:15 +0000

Inflation remains a primary point of concern. Americans “were pinched by rising energy and food prices”. Many Americans are delaying big purchases like cars and household appliances. Sales of automobiles, particularly trucks and sport utility vehicles, also fare falling.

Retailers report pressures to hike prices on popular consumer products, but many say they will have trouble passing higher costs on to their customers.

Trade Gap Grew in April on Oil Imports

admin — Mon, 21 Apr 2008 14:39:40 +0000

The U.S. trade deficit widened in April 2008 as the surge in oil prices spurred imports to a record, overshadowing the biggest gain in exports in four years.

“The gap grew 7.8% to $60.9 billion, more than forecast and the most since March 2007,” stated the US Commerce Department. Except for petroleum, the shortfall was little changed.

Make extra money online

admin — Wed, 06 Feb 2008 21:27:01 +0000

Is it possible to make extra money online? The answer is YES, but as almost anything in life, it’s not easy.

Things you need to make some income online:

You need discipline

It is one of the keys to your success. Discipline means that you prepare a timetable and you stick to it, whether you are in the mood or not.

You need to have time

If you feel that your daytime job takes all the time you got, then you have to ask yourself whether you’ll find a few minutes every day that you can devote to your online business. If the answer is not, then you will have be satisfied with what you got now. Simple rule “ no pain, no gain”.

You need to have some knowledge about the Internet .

You need to study first and find as much information as possible. You will need to know what kind of possibilities there are out there. You can read a short article about on how to make money online, which is just a short introduction to what you need to know.

The advantage of an online home business is the fact that you can operate it from any palce in the world. You may even run it from your current job during lunchtime. One hour a day may not seem to be much but in a month it adds up to over 20 hours that you can put into your project to make extra money from home.