A friend from work was literally hiding from her overwhelming credit card bills that she has from the bank. It seemed really funny that she would hide and not go to work because of debt when she actually needed to go to work to pay for those debts. As of today, she is already free from all the debts she had because she learned about debt consolidation loans. It was her only option where she was able to get the chance to transfer all her loans via one single debt.

It was a long process of finding the right place to help her and then participate in the credit counseling, which she finds very helpful but admitted to be very humiliating at first. She found all the help she can get at Consumer Credit of America where they offered her a Debt Consolidation and Repayment Plan and even consumer credit counseling service. Her very expert credit counselor analyzed her monthly income and expenses every month and solved the problem of paying her debt, then worked around how she could live a stress free life out of debt. The counseling is free of charge and also confidential; two things she loved about it. Consumer Credit of America is a non profit agency whose mission is to help a person come out from financial woes before it’s really too late.

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Before you apply for debt consolidation loans, I strongly recommend you look for some credit counseling first. Undertaking a consumer credit counseling service will get you educated on your available option on how to wipe out debt or manage it. From there you can decide whether you will take credit card consolidation or a debt settlement.

Credit Counseling is also known as Debt Management. It is a process that involves negotiations with your creditors to reduce interest rates and fees on your credit cards so that you can pay one consolidated monthly payment to a credit agency, which is used to pay all creditors. Credit counseling is not a quick fix and usually takes 3-5 years to complete. This is one of the things consumer credit counseling service assistants or counselors will discuss with you. They can refer you to legitimate lenders.

Meanwhile, debt settlement involves reaching negotiated settlement agreements with your creditors to get significant reductions on the principal amount that you owe. It’s the fastest way to get out of debt. It does, however, have a negative effect on your credit score. This is its disadvantage to credit counseling, which will not hurt your credit score and helps you pay down debt responsibly.

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We all know that foreign currency trading (forex exchange) remains to be the biggest and most volatile market amongst all industries. Everyday, financial institutions, banks, even governments of countries participate in trading. It determines the buying and selling of a country’s currency rate, that is why. From what I know, it is open 24 hours a day closing only on weekdays.

Why is currency trading such a lucrative business? Well, profit-wise, it makes small margins but because everybody in the world is involved in the market (making it a very large market) – imagine governments of respective countries like the US, Europe and other super powers participate on it – even if you make small profit margins, it will eventually be a big one due to the volume of transactions per day. From what I know, forex charts are always updated and a software is always needed to outwit the current one.

The Forex Trading Software a financial analyst would recommend is the CMS Forex Advantage. With all the craziness in trading, this software provided real-time execution and updating of charts allowing an investor to make claims. It allows a minimum trade deposit of only $200USD and has 100 technical indicators which will allow one to notice and forecast trends.

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So now is the time for some belt-tightening and change to a simpler lifestyle. You will never know when the current crisis will directly hit and affect you and your family so it is always best to be ready. I have friends and relatives who had to take paycuts to be able to continue working and some were unfortunately laid off. I guess I really still should be thankful that I still have some sort of money source to help keep our household from buckling in.

We do lack something – that is the security of the future. We live from day to day and we really need to secure some parts of our future for our kids. There are term insurance quotes I can look over – but many people are advising us not to really invest on insurance policies right now given the crisis on the global financial market.

There are things worth investing for though – health insurance plans so we are covered for in any emergency, college insurance plans for the kids if the policy has the option for a cash-out, the better. We are just holding out for now because my mom and uncle, who are both insurance agents, advised us that with the rate our inflation is rising, the investment we will be doing now will be practically worthless by the time we can enjoy it.

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Today I am reminded to be grateful that I do not own credit cards anymore. I just learned from a blog friend that she was harassed by a third-party Collection Agency of her credit card company. Apparently, her ATM payment for her card got lost and since the investigation takes so long and she didn’t want to have her card rake in interest, she decided to pay the card balance in full and just cut off the card. Yes, she paid twice! And what is more frustrating is that it happened on the busiest and most expensive time of the year – Christmas. Imagine her anger and disappointment.

But all that was supposed to be water under the bridge now. She was looking forward to starting the new year debt free. Imagine her surprise when she received a call again from the agency. She was so angry. Actually, her being angry is an understatement.

I really can feel her pain. The credit card company is the same one who gave me such a headache back then. To make the long story short, I paid the card full balance and closed the card. One year later, I receive a statement with a renewal fee! It turns out they cannot close my account because they OWED me 4pesos and 16 cents!! You can imagine how much I ranted to their customer service on the phone.

And I’m not afraid to name the credit card company – it’s Standard Chartered Bank!

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It seems to me that precious metals are often under rated. While everything from stocks to mutual funds to real estate are crumbling down to bits, only one thing remains steady – the value of precious metals. Monex Precious Metals are a company you might like to invest on. They have been around for 30 years and have a loyal and trusted clientele. Rcently, it was found the world demand for these precious metals have gone beyond world production. So, needless to say, as per the Law of Supply and Demand, their prices have gone way up. And I’m talking even of silver here. While I cannot afford to get them by the bar or by ingot (coin) forms, I can do one thing:

Buy jewelry

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Im living off my husband’s credit cards (and Dad’s). I used to have three credit cards until I decided (forcefully) to get them cut. I now only have one, my oldest card (with the highest credit limit) but I havent used it in a year. We are working on finishing off Edil’s card debts first (and I pay off a purchase I made using my Dad’s card).

Credit Card Applications are actually rising. Edil has two cards, which are perfect for us because their rewards programs coincides with our favorite mall (SM, of course). The other one he uses for gas charges as it offers 3% rebate forever. We also get a lot of perks. He has been hounded by two other offers for cards and he was sorely tempted to get one but I managed to convince him to just let them go and just build credit reputation with his current two.

Im no expert in financial handling, but here are some lessons Ive learned (the hard way) on handling credit cards:
1. Treat the card is it is – debt. Don’t card everything you do not need.
2. Make sure you pay more than the minimum due.
3. Take advantage of 0% installment plans.
4. Manage everything in ONE card. You don’t need more than one. Decide which one works for you the best and build credit on that. I have had five credit limit increases on my oldest card.
5. Use it when you have money to pay off

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I think that’s how people react these days whenever they stop to fill up their tanks at gas stations. Price of fuel is so high these days – and it’s not only within the country, it really is a worldwide crisis! It is a crisis because government agencies are even seriously considering going the 4 day, 10hour work week to save on gas and electric consumption. More employees leave their car at home and commute. Worse, there are even those who have decided to sell their SUVs for a cheaper car that runs on diesel (I actually think that is a smarter move – why use a car that is so high to maintain these days?) Inflation is very high. However, analysts say that now is the time to really invest if you have the money – houses are so cheap and cars for sale in san diego come with special conditions, freebies and even fuel for a number of months. I wish we have saved for the rainy days!

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