Overloaded with Debt and No Jobs to Be Had

By MN Gordon Economic Prism

The Federal Open Market Committee met on Tuesday and Wednesday.  The masses waited with anticipation.  What did they talk about?

Generally, they talked about price controls.  More exactly, they talked about controlling the price of the economy’s most important and fundamental element…its money.  By controlling the price of money they can influence the price of every single good and service there is.

Some believe this is for the good of the people.  That it will somehow boost consumption and stimulate demand.  That it will create a new hiring boom.  We have our reservations.

When it comes to the Fed, they believe – or at least pretend to believe – that with just the right policy mix the economy will be restored to glory.  But what’s the right mix…and how can a handful of bureaucrats with a handful of charts ever know what it is?

After several days of belaboring (Read More….)

How True Christians Should Budget

Guest Post- Dave Webb

The problem with neutrality is that it works both ways. Do we want God neutral? I don’t.

If we declare neutrality with all religions, where does that leave us when this nation needs help keeping us safe from harm? I maintain that a lot of our problems would be solved if we followed the knowledge of the Bible a little bit closer.

Economics is a good example. There is a time and a place for everything. For instance, every seven years our farms should be allowed to recover from our crops. We don’t need to do it all at once. But we do need to rotate crops and we do need to allow a field to rest every 7th year.

I think our loans should have the same value as our fields. We need to curb the loans. We need to make them all come due once every 7th year. That means they have to be all paid off. That means at the end of seven years we should all be debt free. That is a tall order! Here is how we do it.

There was a time when that was a realistic goal in this country. Homes often had short mortgages and people had mortgage burning (Read More….)

Debt Consolidation And You

Debt has become more and more of a problem due mostly to the recession that began in 2008, and has carried on until recently (and even then it isn’t recovering fast enough). When debt becomes such a big problem, there are only a select few routes a person can take: file for bankruptcy, try their hardest to pay off the outstanding debts, or consolidate their debts. Each choice has its benefits and drawbacks, and they vary from person to person as to whether the choice will be a good fit.

Why Debt Consolidation?

Debt consolidation is an attractive choice for many. It makes managing your debts much easier because all of your debts will be in one place, and they will all be paid off through one lump sum payment a month, instead of many. Debt consolidation is also a good choice because it lowers your overall interest rate, and thus makes the debt increase at a much lower rate and then it becomes easier to pay off in the process.

Below are some things to consider that will help you find out if debt consolidation is the right route for you:

1. Your Interest Rates Are Soaring

This is especially important for credit (Read More….)

Getting Out Of Debt – A "How To Guide"

Getting out of debt – a ‘how-to’ guide

More and more people I know are falling into debt. Some of them have been able to clear their debts and get on with their lives, while others have struggled to repay what they owe and are still finding it difficult to get on top of their finances.

So, from my own experience, and from watching how my friends have done it, I have decided to put together this short guide about how you can get out of debt.

This three-point guide isn’t guaranteed to get you out of debt, but it should certainly help improve your financial situation.

Create a realistic budget

The first thing you should aim to do is create a realistic budget. I must stress the word ‘realistic’ here – because if your budget isn’t realistic, you will find that you won’t have enough money to cover the cost of your expenses.

I’ll give you an example here… my friend created her budget by writing down absolutely everything she earns and spends each month. She then subtracted the amount she spends from the amount she earns – this left her with the amount of money she has ‘spare’ each (Read More….)