Here are a couple great mistakes Consumer Jungle found that many people do that negatively affect their financial health.

5. Buying too soon—that is, buying something on credit instead of waiting until you have the money saved up

6. Not having emergency savings

12. Not saving early enough in life for retirement

16. Having a “get rich quick” philosophy rather than a “get rich slow” strategy

17. Lack of budgeting

31. Buying too expensive of a car

49. Being afraid to ask for advice

And I would add two more,

“Not giving to those less fortunate.”

“Failing to plan for future gift giving for holidays and celebrations.”

To read the full article, click here.

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Show others how much you’ve beaten debt
for the price of one latte a year. – – Beating Debt Charts

Can you name some other reasons?

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Volunteer or Donate to Help Convince More People To Stay Away From Debt.

Show others how much you’ve beaten debt
for the price of one latte a year. – – Beating Debt Charts

I think Generous Giving had a great idea when they opened the Marketplace.  However, I suppose it wasn’t too profitable.  I am glad to see they updated their site with some great flash based technology.  They are going to do some great things.

On June 22nd, Generous Giving will be closing their Marketplace.  Please update all links.

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Koster says the Richardson, Texas, company advertised that it could get customers out of debt within three years and cut their monthly credit card payments in half.  But he says the company took customers’ money without solving their problems.

Another company is now a part of court battles, because many are experiencing that these “Debt Relief” and “Debt Counseling” services are more about MAKING MONEY than actually helping people out.  We’ve talked about this in an earlier blog posting called, “Debt Relief and Credit Counseling“.  As we are seeing, most of the companies that are popping up all over our radio, TV, and internet are service companies that are out to MAKE MONEY.  Please evaluate these companies critically and ensure they are preforming a service that you can not do yourself or that is really worth it.

During the “greatest economic downturn, since the Great Depression“, many people are trying to use our frustration, hesitation, and fear to manipulate us to MAKE MONEY and wield power.  Be on your guard and stick with your current plan to beat debt to make a successful financial marathon.

For more on this article, click here.

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Ulish Hopkins, a former bus- dispatcher from Chicago, turned to a debt-settlement company last year after piling up about $30,000 in credit-card bills. Seven months later, he owed close to $40,000.

“I don’t use credit cards anymore,” he said. “I’m already in the hole, I don’t want it to be dug deeper.”

News articles like these are very disheartening.  When we are so strapped, stressed, and enslaved by debt, many will listen and follow any smooth talking marketer that rekindles our hope for success, renewal, and freedom.  However, the only way out of an addiction to debt is slow (and sometimes painful) repayment of our debt.  By simply repaying what we borrowed without any gimmicks, every month we will get closer to true success and our day of freedom.

As we’ve talked about before in our blog entry called “Debt Relief and Credit Counseling“, please be careful when signing up with Debt Relief and Debt Counseling Services.  Remember, these are businesses that are out to MAKE MONEY.  During the “greatest economic downturn, since the Great Depression“, many people are trying to use our frustration, hesitation, and fear to manipulate us to MAKE MONEY and wield power.  Be on your guard and stick with your current plan to beat debt to make a successful financial marathon.  Know your rights.  Determine if what they will do for you is really worth it, or if you could do the same thing yourself for free.

To read more about this article, click here.

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Investigators are seeking information from 14 debt settlement firms nationwide over their fee structures and what kind of relief they are providing to consumers in the financial crisis,

“Companies in the debt settlement industry often prey upon consumers who find themselves unable to keep up with credit card payments during these difficult economic times,” State Attorney General Andrew Cuomo said in a statement.

These are troubling statements.  However, as we talked about in an earlier post called “Debt Relief and Credit Counseling“, many “debt relief” companies are more focused on MAKING MONEY than helping those that are struggling.  As we talked about earlier, please evaluate these companies that are popping up all over the internet, radio, and TV.  Figure out if they are doing something that will legitimately do something you can not do yourself or help you accomplish a goal that you need assistance.

During the “greatest economic downturn, since the Great Depression“, many people are trying to use our frustration, hesitation, and fear to manipulate us to MAKE MONEY and wield power.  Be on your guard and stick with your current plan to beat debt to make a successful financial marathon.

What are your experiences with a “debt relief” company?

To read more about this article, please click here.

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With the country sinking deeper into recession, the Federal Reserve launched a bold $1.2 trillion effort Wednesday to lower rates on mortgages and other consumer debt, spur spending and revive the economy.

As we talked about before in “Giving up our freedom for the good of the economy“, there are a lot of powerful, convincing forces at work trying to spur you to buy, buy, buy.  From this latest action, should we be convinced to take out more loans and credit cards?

Where does the Fed get all the money? It prints it.

Remember, as the Fed prints more money it has a direct affect on our purchasing power.  As we talked about before in “How devaluing of my money affects me“, as the Fed takes on more debt, the less our money is worth.  Where is the public outcry for all this debt spending?

How can we convince people, nationally and locally, to stay away from debt?

For more on this article, please click here.

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A Texas debt adjustment company has agreed to refund $527,205.55 in fees to 330 Georgians to settle charges it violated state law.

Debt Relief USA Inc. also will reimburse the Governor’s Office of Consumer Affairs $40,000 for expenses and will cease operations in the state until its practices comply with the Georgia Debt Adjustment Act.

In a previous article called Debt Relief and Credit Counseling, we discover the three main ways “debt relief” companies MAKE MONEY off people’s misery and debt.  This news article is an example of a company that is making a lot of money off Georgians.  How much more are they making off the rest of the country?

Like we said in that post, there is a lot of money to be made in debt!

Please remember, most of the products and services that “debt relief” companies offer can be done yourself.  YES YOU CAN! 

To those seeking debt solutions, please shop responsibly.  There are many financial blogs that you can gain a wealth of information to help in your situation -or- start your own blog to solicit responses and help to your situation in beating debt.

Don’t get caught up in the new wave of “debt relief” that is just masking businesses MAKING MONEY off your misery and debt.

To read more from this article, click here.

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Realize there is a lot of money to be made on debt.  As we take on debt, we are making a whole lot of people rich.  Green backs, money, is power.  Keep it.  Don’t obligate yourself for years on end to paying someone else.  Save money and own the power instead of giving it away to consumerism.

Today, start your to race to beat debt and earn your freedom.

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http://www.goodsearch.com/?charityid=877125
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Confessions of a Shopaholic is an entertaining and stylized description of a woman, Rebecca, plagued by the addiction of spending more than she earns.  In typical fashion, she does not realize she has a problem until a major life challenge presents itself: she loses her job.  After realizing how serious her spending problem is, she is thrusted into an ironic adventure of writing magazine articles to advise people how to properly handle money.  This new job pays the bills and keeps the slave owners, creditors, at bay until Rebecca’s hypocrisy is discovered while doing an interview on TV.  Her addiction could not be hidden any longer, and she had to determine how to beat debt before it continued to ruin her career and relationships.  With the help of her family, her accountability group, and some Hollywood magic, she was able to pay off her debts and restart her life with a degree of freedom she had never experienced before.

The three aspects of this movie that need to be focused on are what the father says to Rebecca at her lowest moment, her decision with Alette, and the commonality of her addiction.

After being professionally embarassed by her hypocrisy, lying, and debt, Rebecca seeks counsel with her father.  Her father offers to erase the debt she accumulated by selling his most prized and long-sought after possession.  Her father helps her realize that no matter the value of the object monetarily or personally, it does not compare to the value he gains from his relationship with her.  A great point to remember from that moment is that we should also get our value from relationships instead of from our stuff.  No matter how wonderfully the actors in marketing campaigns portray joy in their purchases, we should never equate that to the real value we gain from relationships.

After triumphantly coming to terms with her situation, Rebecca is faced with her first major temptation.  Alette offers her a job at Rebecca’s most coveted workplace.  The temptation to finally do what she always wanted to do is huge, but she refuses.  She understands that what she always wanted might lead her back into her addiction, so she passes on this “opportunity”.  We can learn from this as well because the things we’ve always wanted usually are not the best for us.  We should always seek the counsel of our God, family, friends, research, history, or any number of things to ensure the things are heart desires would be best for our situation.

Lastly, we should never assume that Rebecca’s story is fairy tale.  America has a $14 trillion consumer debt problem.  There are many in America that are addicted to shopping.  This could come in many forms: buying fancy clothes, houses, cars, electronics, or hobby-related items.  We must recognize there are countless Americans who are addicted to debt but do not realize it.  Unfortunately, they won’t realize it until a major life challenge crashes their illusion.  So do not think this movie is a depiction of a person in isolation because many people have the same addiction.

We can help people realize their addiction to debt by standing up and being an alternate voice to the marketers telling us buy, buy, buy.

Volunteer to be a BDO Ambassador or donate to our Educational Ads project, so we can  help those struggling in debt.

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GoodSearch for BeatingDebt.org
http://www.goodsearch.com/?charityid=877125
and other opportunities.
Volunteer or Donate to Help Convince People To Stay Away From Debt.