Using A Home Equity Loan To Pay Off Credit Card Debt

I've heard some talk recently about people wanting to sign up for home equity loans in order to pay off their high interest credit cards. I wanted to give some advice on the matter and let everyone know this is a VERY BAD IDEA! I'm only giving advice and not trying to tell anyone how they should handle their money but I wouldn't do it. If I did do it, I'd have to be pretty darn bad off with credit card debt and in way over my head. You're basically putting yourself at risk of losing your most precious asset if you end up not being able to pay the bill. I think we would all agree that being in credit card debt is bad enough without having to worry about losing your house on top of it BECAUSE of the credit card debt loan you took out against your house. Try to keep things as simple as possible and look at every possible resouce before you turn to your house. This, in my opinion, should be the very last resort! Managing money is not easy but if we don't learn, we'll never get ahead and we'll always be sinking further and further into debt. Think about it!

Carry Cash Instead Of The Cards...

I mentioned before about the great tip to leave your credit cards at home so you don't even have the option to add more debt to them and this tip goes along with that but I thought it was even better and worth mentioning on it's own. So many people these days use their debit cards instead of cash but it occurred to me that putting away every card you have, even a debit card can really help cut down your spending. The way this should be done is you should set a limit each week of the amount of money you think you will spend for that week. Calculate it all out or even go as a daily guide and then visit an ATM for only the cash you need. This way you won't be able to overspend because you won't have any other option in your wallet. To some it may seem very silly but each person is different and I believe in giving advice that can reach a large variety of people and their different personalities. Try it out and see what kind of difference it makes for you. Share your thoughts with comments below.

It's Time For Another Laugh...

I truly apologize about not having been on the blog very much this month. It has been such a crazy month so far. I hope it isn't a preview of things coming! We are just so busy! Here's a good laugh for you this week. I like to add these videos here and there on the blog to help remind us to laugh out loud as often as possible.

Find Ways To Bring A Little Extra Income In

A lot of times when we hear these ideas about bringing in more money we think it's only possible for those of us who have tremendous talents or that can build a business up from scratch. The fact is this isn't at all true. There are a lot of ways to help bring in a little extra money without being business savvy or having a house full of valuable stuff just sitting around waiting to be sold. I have another blog that gives a lot of great tips on how to make money from home and you might be surprised to learn what some of the options are. I think all of us could use some extra cash now and then so get creative, do the research and start making that money!

www.letsmakemoneyontheweb.blogspot.com

Think Your Mood Can Put You Further Into Debt?

If you answered "No" to that question then you could be wrong. I came across a very interesting article today that shows study results for how people spend money based on their mood. Take a look. Information like this can help us understand why we might be sinking further and further into debt. It just might go deeper than we think.

Click Here To See How Your Mood Affects More Than You Might Have Thought

Pay Off Mortgage Even Quicker Without Paying Any Extra Money

First of all let me say that I'm sorry it's been a few days since I have posted. What a busy week this turned out being for our family. I'm glad it's done and now we can get things back to normal.

This new tip is something I heard of and could not believe but it's the truth. Here is a great way that maybe doesn't put as much emphasis on your actual credit card debt but it's a terrific tip for debt in general. So here's what I heard. By splitting up your mortgage payment into two seperate payments per month you're actually paying it off faster in the long run. Does this sound impossible? Well, trust me it isn't. Check out this site that I have attached below to see just how it works. You'll be amazed the money that you save and how much faster you pay the loan off by following these amazingly simple steps.

Click Here To See How You Can Save Big Bucks On Your Mortgage

Have Your Weekly Laugh

I couldn't resist attaching this video I found today. I love to laugh and this one made me laugh a lot! It's a collection of pranks pulled on people. I hope you enjoy it as much as I did.

Great Motivation For Getting Debt Paid Down

Have you ever sat down and figured out the total amount that you're paying on your credit cards each and every month? One fun and very interesting thing to do is to figure out exactly what that amount is and then have a little daydream about what else you could be doing with that money after those credit cards are paid off. Sometimes even just to think about putting away for retirement or being able to send the kids off to college is the greatest thought in the world, more so than buying that new car or finding an awesome vacation spot. My personal daydream is to no longer live paycheck to paycheck and having money to put away for the unexpected. Simple fun daydreams like this can really help you stay focused on paying those debt down...way down! It's hard to break the cycle when you're possibly so used to satisfying the never-ending desire to buy now and pay later so everything you can do to help keep focused is worth practicing on a regular basis. Go on and daydream. It might be the smartest thing you'll do.