Having lots of debts is different to manage. You may need to track down all debts from one creditor to another including interest expenses and late payment charges. One solution to handling multiple debts is through debt consolidation. Debt consolidation entails taking out one loan to pay off many others. This is often done to secure a lower interest rate, secure a fixed interest rate or for the convenience of servicing only one loan. More often, debt consolidation involves a secured loan

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First of all, I would like to greet you all Merry Christmas to everybody! Thanks for being a regular reader of my blog Millionaire Acts. Everyone wants Christmas to be meaningful. Christmas is definitely the season for gifts and shopping. During Christmas, a lot of people go to malls to buy various gifts to be given to their friends and loved ones. People just need to spend more during Christmas season. The effect? - traffic jam, growing credit card debts, lots of to-do lists, etc. I came

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In one of my previous posts, I mentioned about the difference between good debt vs. bad debt. In summary, good debt provides money into our pockets while bad debt drains money out of our pockets. In the long run, good debt becomes asset while bad debt becomes liability. What will you do if you have an unsurmountable amount of bad debt? One of the easiest way to accumulate bad debt is through an undisciplined use of your credit cards. You keep on swiping and swiping that card without you

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Debt has always been considered as a liability. Yes, in most cases, debt is a liability because it is money owed to someone else. One classic example of a liability is a credit card debt. When you use a credit card, you’re taking a loan from the bank or company that issued the card. With that loan come interest payments. You generally do not pay interest for the first credit card cycle (usually a month), but any amount not completely paid off after that first cycle is subject to interest.

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As I have said in one of my post, one of the keys in achieving financial freedom is to earn more and desire less. Desiring less means controlling your spending. It has been said that no matter how huge your income is, if you don’t know how to control your spending and save for your future, you would end up nothing in the end. As one of my favorite quote in savings says: “Ubos ubos biyaya, bukas ay nakatunganga.” The first thing that you should do is to pay yourself first.

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They say that prevention is the best cure to any disease. Bankruptcy as we all know is the worst case scenario for people who want to achieve financial freedom. It’s like a disease that cripples us. Bankruptcy brings to mind a lot of horrible things. In Japan, they used to commit suicide when their business has gone bankrupt. Way back during the stock market crash of 1929, bankruptcy brings to mind a frazzled man in a tuxedo shouting “I’m ruined! Ruined!” before jumping from a high

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Debts - they are there to make our lives miserable. They are the cause of financial problems. They command us to work for the rest of our lives and become corporate slaves. Some people lose their insanity because of too much debt. Some commit suicides because they are heavily burdened by a lot of debts while some get into jail because of non-payment of their debts. Yet if you know how to manage your finances, you can live a debt free life. Here are some great advice for changing that and

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Dissatisfied with the terms of your current credit card? Think of ways how you can get credit card companies to waive fees, lower your interest rates or increase your credit limit. Pick up the phone and try calling them right now. Anybody can do it. It takes persistence, organization, and patience. You also need to have credit options. You need to be able to transfer your credit balance to another credit card and fire your current credit card bank. Choose the best among them.   Get tough.

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With the rise of ecommerce, everybody can buy stuffs in the internet with the use of a credit card. Credit card fraud is becoming rampant nowadays. You might just be shocked to see your next credit card bills ballooned with a lot of transactions you did not recognize. We must therefore protect ourselves from these people who steal from our credit card accounts. Here are some of the tips to secure your credit cards. Tip 1: Keep a record or memorize your credit card number and your issuing

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In my last article on credit cards, indeed credit cards can be friends and allies in achieving financial freedom if you know how to use them properly. But without discipline, it can be your worst move to avail them as they can literally be a ‘blackhole’ that can drain your finances. Being in a good credit standing, I have received a lot of offers from credit card companies. Usually, I will be interrupted at work by credit card telemarketers and they will offer me various credit

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Credit Cards… Yeah! It’s the easiest way of availing credit. Just swipe and charge! Presto! You can buy that particular commodity that you’re eyeing! Often times, we see a lot of people heavily burdened with their credit card debts. They end up working for the rest of their lives paying an unsurmountable amount of credit card debts that piled up over the past years from student loans, car loans and home loans.   Before, I really avoided having credit cards. A lot of

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