Debt consolidation – More Options for Reducing Credit Card Costs

Written by Charles Essmeier


Borrowing money against your credit cards has always been amongrepparttar most expensive ways to borrow money, and when you fail to pay your bill in full each month, borrowing is exactly what you’re doing. You’re not alone;repparttar 137271 average American household now carries more than $8000 in credit card debt. It’s easier to accumulate credit card debt than other types of debt forrepparttar 137272 following reasons:

  • They’re easy to use. It’s far easier to borrow spend money on a credit card, even thousands of dollars at a time, than it is to go torepparttar 137273 bank and secure a loan. Convenience can easily lead to overindulgence.


  • The interest rates are higher than for other types of debt. The interest rate on your mortgage may be 6%. The interest rate on your credit card may be 25%. That adds up in a hurry, especially if you are carrying a balance.


  • There is no set repayment schedule requiring you to pay back a set amount each month. The only requirement is that you pay at least 2% of your outstanding balance. Many people pay exactly that, and no more, causingrepparttar 137274 interest to accumulate quickly


  • Credit card lenders tend not to be very forgiving. If you make a late payment, you could end up with a late fee of as much as $39 in addition to having your interest rate increase.


  • Many credit cards come with annual fees, which can add to your debt, especially if you don’t pay them in full. Then you end up paying interest onrepparttar 137275 annual fee!
  • There are number of solutions available. All they require

    How to Write a Will

    Written by John Mussi


    Just thinking about how to write a will is enough to put some people off. It does not have to be a morbid experience. It is a necessity and makes for good financial sense.

    Start by organizing what you need: outline your objectives, inventory your assets, estimate your outstanding debts and prepare a list of family members and other beneficiaries. Use this information to carefully consider how you want to distribute your assets. Ask yourself lots of questions: Is it important to pass my property to my heirs inrepparttar most tax-efficient manner? Do I need to establish a trust to provide for my spouse or other beneficiaries? How much money will my grandchild need for college?

    Taking inventory ofrepparttar 137270 assets may berepparttar 137271 key to making a will. Assets should be mentioned in your will. Any items not specifically mentioned may be addressed in a catchall clause of your will called a residuary clause, which generally states, "I giverepparttar 137272 remainder of my estate to ..." Without this clause, items not specifically mentioned will be distributed in accordance with law.

    Outstanding debts usually will be paid by your estate before your beneficiaries receive their shares. You may want to clear up debts that you know will be a problem, or make specific provisions for payment of those debts in your will.

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