I thought this article would be of interest. You maybe finding yourselves wondering this same question. Pay down or pay off your Credit Card Debt or use the money towards savings by investing it.
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End the Vicious Cycle of Credit Card Debt
Bills.com cites 5 ways to achieve personal financial freedom now.
San Mateo, Calif. (PRWEB) July 25, 2007 -- American consumers who are bold enough to take a mid-summer pulse of their personal finances may find more debt than ever before. American families owed a total of $895 billion on credit cards at the end of May (Source: Federal Reserve) -- and Bills.com co-founder and co-CEO Brad Stroh reports that Americans must take steps now to end the vicious cycle of debt.
"Debt has become a growing problem, and many Americans need to find a solution. With uncertainty about the future of housing prices, the high cost of oil, and record hikes in health care and higher education costs, many people are on the precipice of financial disaster. Americans are playing with fire by maintaining an average credit card debt load approaching $10,000 per household (Source: CardData.com)," Stroh said. "At the same time, the stock market is at record levels, but most Americans cannot benefit from this potential prosperity because they are crippled with debt. For those with debt, now is the time to tackle it.
Click this link End the Vicious Cycle of Credit Card Deblt
My view:
Americans who see debt as a major problem (which should be all of us even those who under this debt society are "well off" ) need to find a solution. At the core of the problem is our "money" or paper which is actually what it is with an unspoken understanding the these NOTES equal debt any way you look at it. There is change in the wind. It is my prayer and hope that the wind sweeps out this sick oppressive system. I am doing my part to educate American and start them on the path of financial freedom by eliminating their Credit Card Debt
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The Associated Press released this Article July, 9th, 2007. It starts....
WASHINGTON - Consumer borrowing posted a hefty increase in May, reflecting the biggest jump in credit card debt in six months.
The Federal Reserve reported Monday that consumer credit rose at an annual rate of 6.4 percent in May, far above the small 1.1 percent gain of April.
David Wyss, chief economist at Standard & Poor's in New York, said some of the surge in credit card debt reflects the fact that it is getting harder to get home equity loans with banks tightening up on standards and home values not soaring as they did during the housing boom.
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Regardless of how you feel about Michael Moore, that is not the issue. The candidates for President of the USA are all talking about this terrible state of affairs and they are offering solutions both on the Republican and Democratic side. You NEED to get to Michael's Site Click HERE which is a great resource and get to a theater when SICKO opens in your neighborhood.
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