NO MORE Mortgage Blog » Financial Tools

July 2011 NO MORE Mortgage Newsletter

david.bollard — Mon, 11 Jul 2011 22:26:59 +0000

“Thank-You” letters received from happy clients….

I can now look forward to a nice retirement
“I will be turning 65 just a couple months before my debt free date so I can now look forward to a nice retirement. I would hate to think what would happen if I turned 65 and still had such a large mortgage payment. The NO MORE Mortgage Program has allowed me to focus on other things because I don’t always have a lot of time with my busy schedule. It takes care of almost everything for me and makes it very simple. I hope others will take advantage of your unique program as I have. I would recommend it to anyone with debt.”

Thank you for helping us!
“Thank you again for helping us login so we can track our progress. We have only been working with NO MORE Mortgage for eight months and we can’t believe that our debt has already gone down by almost $11,000! It is so nice to have you take care of everything for us. “

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Money-saving tips that could go a long way towards finding $20/week in your budget.

Remember, if you do this consistently, it adds up to $1000 in a year

Drive a different route to work. This is an especially powerful tip if you find yourself “automatically” stopping for something on the way into work or the way home. Get rid of that constant drain by selecting a different route that doesn’t go by the temptation, even if the new route is a bit longer. You’ll still be time ahead (because you’re not stopping) and you’ll definitely be money ahead.

Always ask for fees to be waived. Any time you sign up for a service of any kind and there are sign-up fees, ask for them to be waived. Sometimes (but not always), they will be – and you save money just by being forthright about not wanting to pay excessive fees. I did this with my last cell phone sign-up and got part of my fees waived, cutting down significantly on the bill.
Don’t overspend on hygiene products. For most people, inexpensive hygiene products do the trick – for example, I just buy whichever toothpaste is the cheapest, and the same goes with deodorant and the like.

The key is to use this stuff regularly and consistently – bathe daily, keep yourself clean, and you’ll be just fine. No need to buy a $40 facial scrub if you actually scrub your face properly.

Homemade gifts. In a recent poll, 82% of Americans said they would rather receive a photo album of memories than a gift purchased from a store. A box of dress-up clothes for a child, a cookbook with your favorite recipes, a framed picture drawn by a grandchild, all make perfect gifts with a personal touch.

Homemade bread, jam, and cookies will always be used and will never end up cluttering the closets of your friends and neighbors. Gifts of time are also greatly appreciated and can often cost nothing at all.

Try a special gift certificate for shoveling snow, a home-cooked meal, a day of baby-sitting, a massage, or a car wash. Adding a handwritten note can make your gift even more treasured.

Think of the money you’ll save and the joy you’ll receive from giving a little bit of yourself.

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Ways to increase your income…

Learn A New Skill: Take every opportunity to acquire new skills and experience. You become more valuable to employers as you become more valuable to their businesses. If they do not recognize you value with a pay rise or improved job, other employers will.

Ask For A Pay Rise: If you feel that you deserve a pay rise, ask for it pleasantly. Do not threaten anything and make sure you have done your research and can fully justify your request. Getting it wrong can be a major Setback.

New Job with Existing Employer: Consider new opportunities within your existing employers business. Employers often prefer internal candidates they know and such positions offer the possibility of promotion and a pay increase. Always try to get promoted into jobs you would LOVE to do, chasing a job for just the money, may leave you in a job that you hate and under those circumstances, you are unlikely to perform well and could actually damage your career.

New Job with a New Employer: A new job with a new employer offers great possibilities, not only for an improvement in pay but also for a change of direction and working for a better or more suitable employer with greater prospects for the future.

Take On An Extra Job: Take on an extra job – This can boost income but remember the point I made above about working smart. If you take on an extra job, try to find one that advances your skills in some way, provides training or experience that might prove valuable. Choose a job you LOVE or could provide an entree to such a job. Where possible always look at each opportunity as a step towards where you want to be – even if it is an emergency second job!

Work More Overtime: You can undoubtedly earn more by working overtime if it is available. However, life is for living and unless you LOVE your work, this should only ever be a short-term solution. A stop gap to another solution.

Create An Extra Business: There has never been more opportunities to start home-based and internet-based businesses. Each era has its areas of opportunity and currently the internet is it. Many of these businesses are ideal for running part-time or in the evenings. Things could be as simple as completing surveys or taking part in online focus groups, up to and including running your own internet web site.

Other Family Members Contributions: If you are part of a family unit, consider getting others to contribute to the house-hold also. Your spouse, even your children can all find activities or jobs that might contribute to the house-hold income.

Government Support & Tax Breaks: Make sure you are claiming all the government support you are entitled to and use all your tax breaks. If your spouse is not earning, find ways of using her tax allowances to reduce your tax bill.

Maximize Asset Earning; Make sure all your assets are earning their maximum. All savings are earning at the best rates. If you have a spare room, consider renting it out. Use your creative imagination to maximise the earning power of what you already have.

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Housing Economy is crucial for a feeling of well-being….

The housing is one of the most important barometers of economic strength, and it’s also crucial to a feeling of well-being. Your house is your biggest asset. When it’s going up in value, it makes you feel good. When it keeps on going down, it’s easy to be discouraged. Thank goodness the debt plan pays off the mortgage in record time!

Some of the hardest-hit housing markets are beginning to show some signs of strength, though they’re not fully out of the woods yet, according to a new real-estate market forecast. “Examples are places like Phoenix or Cape Coral, Fla. Many of these markets are better now because the housing supply has drastically fallen,” said Eric Fox, vice president of statistical and economic modeling for Veros Real Estate Solutions, in an email. Veros is a supplier of housing data to the country’s largest banks as well as government organizations.

The weakest markets have higher unemployment rates, with the worst five markets in the country having an average rate of 11.2%, compared with the overall national average of 9.1%. The five weakest markets between now and June 2012, as well as their estimated amount of depreciation expected in the 12 months ahead, according to Veros, are:
1.   Deltona/Daytona Beach/Ormond Beach, Fla., -6.7%,
2.   Reno/Sparks, Nev., -6%
3.   Ocala, Fla., -5.8% ,
4.   Portland/Beaverton, Ore./Vancouver, Wash., -5.6%
5.   Tampa/St. Petersburg/Clearwater, Fla., -5.5%

To assemble the rankings, Veros focused on major metropolitan areas that typically have more than 500,000 residents. It looked at single-family homes of median price in each market. Now for the good news: Even the worst markets won’t depreciate more than 5% or 6% in the year ahead, according to Veros. That’s a relief from the double-digit drops in the past. But the top markets aren’t expected to see runaway growth either: The strongest markets in the country aren’t expected to appreciate more than 4% in the year ahead, according to Veros. Below are the markets expected to perform the best in the next year, along with their projected home-price increases:

1.   Bismarck, N.D., 3.8%,
2.   Wichita Falls, Texas, 2.6%,
3.   Buffalo/Niagara Falls, N.Y., 2.1%
4.   Honolulu, 2%,
5.   Anchorage, Alaska, 1.9%

The strength of the local economy has a lot to do with the strength of its housing market. “Bismarck’s unemployment rate is 2.9%. No one is worried about losing their job, and prices reflect that,” Fox said. He also pointed out that commodities are strong, and North Dakota produces a lot of them — from natural gas to wheat. From a national perspective, RealtyTrac is predicting that the market will bottom out, in terms of sales and pricing, this year. But the recovery will appear flat two years after that, with meaningful appreciation occurring in 2014 or 2015, the company projects.

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– Contact the Team at NO MORE Mortgage if you have Questions or Need Additional Help –

NO MORE Mortgage Financial Peace Newsletter May 2011

david.bollard — Fri, 06 May 2011 15:47:23 +0000

The International Monetary Fund has just dropped a bombshell, and nobody noticed…

For the first time, the international organization has set a date for the moment when the “Age of America” will end and the U.S. economy will be overtaken by that of China. And it’s a lot closer than you may think.

According to the latest IMF official forecasts, China’s economy will surpass that of America in real terms in 2016 — just five years from now. Put that in your calendar. It provides a painful context for the budget wrangling taking place in Washington right now. It raises enormous questions about what the international security system is going to look like in just a handful of years. And it casts a deepening cloud over both the U.S. dollar and the giant Treasury market, which have been propped up for decades by their privileged status as the liabilities of the world’s dominant power.

According to the IMF forecast, which was quietly posted on the Fund’s website just two weeks ago, whoever is elected U.S. president next year will be the last to preside over the world’s largest economy. Most people aren’t prepared for this. They aren’t even aware it’s that close. Listen to experts of various stripes, and they will tell you this moment is decades away. The most negative will put the figure in the mid-2020s. But they’re miscounting. They’re only comparing the gross domestic products of the two countries using current exchange rates. That’s a largely meaningless comparison in real terms. Exchange rates change quickly. And China’s exchange rates are phony. China artificially undervalues its currency, the renminbi (or yuan), through massive intervention in the markets.

In addition to comparing the two countries based on exchange rates, the IMF analysis also looked to the true, real-terms picture of the economies using “purchasing power parities.” That compares what people earn and spend in real terms in their domestic economies. Under PPP, the Chinese economy will expand from $11.2 trillion this year to $19 trillion in 2016. Meanwhile the size of the U.S. economy will rise from $15.2 trillion to $18.8 trillion. That would take America’s share of the world output down to 17.7%, the lowest in modern times. China’s would reach 18%, and rising. Just 10 years ago, the U.S. economy was three times the size of China’s. We have lived in a world led by the U.S. for so long that there is no longer anyone alive who remembers anything else. America overtook Great Britain as the world’s leading economic power in the 1890s and never looked back.

Banks expect to send out 3.2 billion card offers this year…

The 3.2 billion card offers this year is up 15% from 2010, and more than double the 1.4 billion mailed out in 2009. “Issuers are actually sending the best offers we’ve ever seen in 20-plus years,” says Anuj Shahani, the director of competitive tracking services for Synovate Mail Monitor. As an aftereffect of the CARD Act, the attractive terms you see in pre-approved offers are also more likely to be those you get, according to a study by the Center for Responsible Lending.

Still, finding a card that offers the best of the recent changes without the costs isn’t easy. Many of the drawbacks are buried in the fine print (yes, there’s still lots of that). We dug through the cards to find the best new ones that might be worth a place in your wallet.

First, some good news: consumers have less credit card debt to wrangle. The average household owes $7,490 — 9% less than at the recession’s onset in 2008, according to Synovate Mail Monitor. Spending cutbacks have helped, but so have CARD Act provisions that allocate payments of more than the minimum toward high-interest rate debt first and forbid issuers from raising rates on existing balances in good standing, says Odysseas Papadimitriou, the chief executive of CardHub, a comparison site for credit and prepaid cards. Of course, higher interest rates overall and rising minimum payment requirements can cancel out those friendlier practices, making carrying a balance just as expensive, if not more so. And balance transfer fees now range as high as 5%, up from 3% a few years ago.

Managing debt in a post-CARD Act world requires at least two different cards: one with a good balance transfer offer and another with a low ongoing rate on purchases, just in case you can’t always pay off your monthly balance, says Papadimitriou. Right now, the most generous balance transfer deals for consumers offer at least 18 months at 0%, and charge no more than a 3% fee. With 21-month offers and 3% fees, both Citi Diamond Preferred and Citi Platinum Select fit the bill. (The 0% rate applies to purchases made during the first 21 months, too.) Discover More offers more time — up to 24 months — with a higher 5% transfer fee. But for those who need more time to pay down their debt and don’t plan to make any new purchases on the card, it could be the better deal, Papadimitriou says.

For the occasional balance-carrier, the best bet is typically the card with the lowest rate available. The Simmons First Platinum Visa currently offers a 7.25% APR, but only for people with excellent credit. For those with average credit, there are cards with average rates that cut interest rates for on-time payments and offer rewards for months you pay in full. Citi Forward cardholders see their rate drop 0.25% every three months that they pay on time and stay within their credit limit, for up to a 2% total reduction. After 0% for 12 months on purchases, the APR ranges from 12.99% to 19.99%. The higher interest rate and short introductory offers aren’t the best deal if you’re carrying a big balance. But the rewards, including 6,000 points for making $250 in purchases within three months and 2,500 for paperless billing (combined, worth $50 in cash or $60 in gift cards), can work out better for cardholders who only occasionally don’t pay off their balance in full.

How to negotiate the best deal on 6 common fees & expenses…

1. Credit Card Rates
• Why they are negotiable: Now that most of the dust has settled following the big credit card reform act, card companies are competing fiercely again for new customers. Issuers sent out 1.2 billion credit card offers in the third quarter of 2010 — more than three times the number sent during the same period in 2009. “Use the competition to your advantage,” says Ira Rheingold, executive director for the National Association of Consumer Advocates. “Don’t jump at the first offer. You should argue for the best rate.”
• Who to talk to: Call the 800 number associated with a new card offer (or the number on the back of a current card) and talk to the customer service rep. If the rep can’t — or won’t — adjust the rate, ask to speak with a manager.
• What to say: “I’ve gotten several credit card offers with lower rates. Tell me what you can do to beat those offers.”
• Possible savings: How much you’re able to lower your interest rate will depend on your credit and payment history, as well as your credit score. In a study conducted by the U.S. Public Interest Research Group several years ago, more than half of consumers who asked for lower rates got them, with their average APR dropping from 16 percent to 10.47 percent.

2. Mortgage and Refinancing Rates and Fees
• Why they are negotiable: “Mortgage lending has gotten difficult, which means that a lender will work hard to make a deal,” says Rheingold. And that’s particularly true for consumers with credit scores of at least 750.
• Who to talk to: Mortgage brokers or lenders at banks and credit unions.
• What to say: Get several estimates in writing and ask, “Here’s the best deal I can get. Can you beat it?”
• Possible savings: In addition to offering better rates, lenders might reduce certain fees or even waive them altogether. To negotiate the lowest out-of-pocket costs, ask for discounts on all upfront fees, including application and origination fees. According to the Federal Trade Commission’s website, comparing and negotiating mortgage fees can result in thousands of dollars of savings.

3. Home Improvements
• Why they are negotiable: “Business is slow and that means contractors are willing to haggle over their prices,” says Greg Daugherty, executive editor of Consumer Reports. Plus, the prices of many common home building materials are down as much as 35 percent from their peak in the mid-2000s.
• Who to talk to: The contractor.
• What to say: “What are the options for less expensive materials? And what discounts can you offer me on labor?”
• Possible savings: Up to 20 percent of the cost of the project, according to a new survey by Angie’s List, a website that publishes surveys and consumer reviews of service businesses. Of the home improvement contractors who were surveyed in 2010, 80 percent were willing to drop their prices to get a job (compared with 43 percent in 2008). And more than half of the contractors surveyed said they were willing to lower prices by 10 percent, with nearly 25 percent willing to drop their fees up to 20 percent.

4. Home Appliances and Electronics
• Why they are negotiable: Store managers understand that a discounted deal done today is often better than a potential deal in the future (and definitely better than no deal at all). One trick is to go first thing in the morning or just before the store closes when there are fewer customers. “A manager will hesitate to offer a discount if he thinks he’ll have to make the same deal with all of the customers who overhear the negotiation,” says Consumer Reports’ Daugherty.
• Who to talk to: A store’s manager or assistant manager.
• What to say: “I like this model. If you can give me a discount and free delivery, I’ll buy it today.”
• Possible savings: Profit margins are generally fairly thin on appliances and electronics, so getting 10 percent off is a reasonable goal, particularly if you can also get them to throw in free delivery and installation. Consumer Reports found that three-quarters of shoppers were able to negotiate a better deal on major appliances, with an average savings of $100 per appliance.

5. Cars and Vehicles
• Why it’s negotiable: Car dealerships are one of the few places where price negotiations are not only acceptable, they’re expected, notes Philip Reed, senior consumer advice editor for car-buying site Edmunds.com. But instead of trying to negotiate your purchase price down from the MSRP (the sticker price), as you might for other items, ask to see the invoice price (the price the dealer paid for the car) and work your way up from there. You can look up dealer invoice prices for free on Web sites like IntelliChoice.com, Edmunds.com, and KBB.com.
• Who to talk to: Sales staff.
• What to say: “Another dealership has given me a better price on the same model. Tell me how you can beat their offer.”
• Possible savings: It’s possible to save more than $1,000 on a new car by negotiating smartly, according to Reed. And you’ll net even higher savings by also negotiating the value of your trade-in, as well as financing terms and the cost of extended warranties.

6. Medical Bills:
• Why they’re negotiable: Patients usually assume that the cost for various medical procedures and tests are set in stone, but often they’re not. And with health care companies shifting more out-of-pocket costs onto consumers, asking for potential discounts is essential, particularly since there’s often a huge variance in costs among providers, says Angie’s List spokeswoman Cheryl Reed. In Washington D.C., for example, the price for an MRI of the right knee ranges from $400 to $1,501, according to a recent report.. You can look up average prices in your area for various procedures at Healthcare Blue Book.
• Who to talk to: The billing administrator.
• What to say: “This is a significant expense for me. Is there a discount for paying upfront or in cash? What other kinds of discounts might be available?”
• Possible savings: Fifty percent or more. An Angie’s List poll found that 74 percent of respondents who negotiated their medical bills were successful, often paying less than half of the original cost.

What is the danger of making minimum credit card payments…

Gift cards: For the person who has everything (or whose tastes you simply cannot fathom), gift cards are a safe bet. You can find cards on discount at www.giftcardgranny.com. The site pulls prices from six gift card discounters, which buy unwanted cards from other people that they then resell for less than face value. Discounts can be as much as 50%, although most are in the 15%-to-20% range. And the rules for gift cards just became more consumer-friendly (see Gift Cards: A Better Deal Now).

Checking accounts: Banks everywhere are eliminating free checking accounts, but with a little creativity you can still avoid paying that extra $8 to $15 a month. If you arrange for direct deposit or maintain a minimum balance, or bank online and skip the paper statement each month, your bank is likely to waive the fee. About 750 community banks and credit unions offer free checking accounts with no minimum-balance requirement. They’ll also pay as much as 3.5% interest if you use your debit card ten to 15 times a month, arrange for automatic payment or direct deposit each month, and receive your statement electronically. www.checkingfinder.com.

Groceries: For many families, a bulging budget is the result of excess spending at the supermarket. Ditch the gourmet grocers and shop at Trader Joe’s or warehouse stores. While you’re at it, use coupons, which you can find online (at CouponMom.com, Coupons.com and CouponCabin.com). Or, for $5.95 a month, you can get customized coupons from Shopping Nanny. Shopping Nanny recently guaranteed that if you spend more than $90 a week at the grocery store, you’ll save $40 a month using its service — or your next month’s membership is free.

Connectivity: Bundling your cable-TV, phone and Internet service can save you — dare we say it — a bundle. For example, you pay just $85 a month for 12 months if you sign up online with Verizon for unlimited local and long-distance calling, high-speed Internet service and DirecTV with DVR service. That saves $50 a month compared with buying the same services separately.

Cell-phone plans: Wireless carriers keep you tethered to them with two-year contracts and tempt you to renew with snazzy new phones or monthly discounts. But you can slash your costs with a prepaid plan, especially if you’re paying extra for text messaging and data plans. All of the major carriers plus a number of smaller firms offer prepaid plans. Compare them at www.prepaidreviews.com/compare , then check the carrier’s Web site for more details. Before you compare plans, decide what is most important to you.

Water: A low-flow shower head is easy to install — just screw off the old shower head and twist on the new. Because it restricts the water output to no more than 2.5 gallons per minute (older shower heads send as many as 5.5 gallons per minute down the drain), you can save 25% to 60% of the water and 50% of the energy it takes to shower and shampoo you and your family. The shower heads generally run $10 to $20 a pop (some utility companies give them away) and screw into existing fittings. The new fixtures — labeled WaterSense — go as low as 1.5 gpm, saving 7,300 gallons and $30 to $100 a year over their 2.5-gpm counterparts.

March 2011 NO MORE Mortgage Newsletter

david.bollard — Mon, 07 Mar 2011 22:06:01 +0000

Inspiring quotes…

50 INSPIRING QUOTES. We know that sticking to a goal is hard. Whether your goal is to get in shape, to lose weight, or to discipline yourself financially and live with your means, you need inspiration. When times are tough, and hard decisions need to be made, goals that only speak to the head will not be sufficient. The heart has to be involved.

Thus we hope that among this collection of words of wisdom, you will find something that speaks to your emotions. Remember, the eyes give sight, but the heart gives insight. Take a few seconds to ponder on each of these thoughts, and gain inspiration to stay with your goals, and make the right choice. Remember, you can overcome!

“Think like a man of action, and act like a man of thought.” – Henri L. Bergson

“I am only one, but still I am one. I cannot do everything, but still I can do something. And
because I cannot do everything I will not refuse to do the something that I can do.”– Hellen Keller

“Half of the troubles we experience in this life can be traced to saying yes too quickly and not saying no soon enough.” – Josh Billings

“Even if you’re on the right track, you’ll get run over if you just sit there” – Will Rogers

“Man often becomes what he believes himself to be. If I keep on saying to myself that I cannot do a certain thing, it is possible that I may end by really becoming incapable of doing it. On the contrary, if I have the belief that I can do it, I shall surely acquire the capacity to do it even if I may not have it at the beginning.” - Mahatma Gandhi

“You can never cross the ocean unless you have the courage to lose sight of the shore.”- Christopher Columbus

“To a brave man, good and bad luck are like his left and right hand. He uses both.” – St Catherine of Siena

“When one door of happiness closes, another opens, but often we took so long at the closed door that we do not see the one that has been opened up for us” - Helen Keller

“We don’t see the things the way they are.
We see things the way WE are.” – Talmund

“Every problem has in it the seeds of its own solution. If you don’t have any problems, you don’t get any seeds.” - Norman Vincent Peale

“If you change the way you look at things, the things you look at change.” - Dr Wayne Dyer

“The problem is not that there are problems. The problem is expecting otherwise and thinking that having problems is a problem.”
– Theodore Rubin

“Pessimist : A person who says that the letter “O” is the last letter of ZERO, instead of the first letter
in the word OPPORTUNITY.”- Anonymous

“Blessed are those who can give without remembering and take without forgetting”- Elizabeth Bibesco

“Yesterday is history, tomorrow is a mystery. And what about today? Today is a gift. That’s why we call it the present.” – B. Olatunji

“When you get to the end of the rope, tie a knot and hang on.”
– Franklin D Roosevelt

“Your attitude, not your aptitude, determines your altitude.”- Zig Ziglar

“If you’re going through hell, keep going.”- Winston Churchill

“The secret to success is to start from scratch and keep on scratching.”
– Dennis Green

KEEPING TO A GOAL IS A LOT EASIER IF YOU HAVE A PERSONAL ACCOUNTABILITY PARTER…

Here are a few suggestions to help you in making this choice. The thinking is this: when our performance is measured, it usually improves. When our performance is measured and we are accountable for our results, then it usually improves again.

So you’re procrastinating. You’re rationalizing and making excuses. You’re reprioritizing your to-do lists constantly, meaning that one little task never makes it off the back burner. Maybe you’ve even tried to make one particular job a priority. Perhaps you even started taking action, but somewhere along the way you let it drop by the wayside. It seems like weeks or months have gone by since you first got the idea and yet you never get it done. Your heart tells you the time is NOW! If you’re serious about doing this project, then it’s time for you to get serious about holding yourself accountable. And the best way to do it is to bring in someone ELSE to hold you accountable.

You see, you can always avoid the task at hand if you’ve decided to hold yourself accountable. And while you think you’d feel guilty when you don’t complete the task, all you have to do is rationalize your guilt away. It was never that important anyway. Or, I can start working on it first thing on Monday instead. But you can’t do that when you make a promise to someone else. You can’t rationalize and make excuses if your accountability partner stands firm and won’t let you get away with those weak excuses. And eventually, you WILL feel guilty if you’re not doing what you’re supposed to be doing. Here’s how to make the most of this productivity-boosting support system:

* Choose a partner who won’t let you get away with making excuses. Ideally it will be someone who has overcome a similar bad habit, or has made good progress (farther than you have) towards achieving a new goal. When it comes to finances, this is especially important.
* Share your long term financial dreams with your partner. Let him/her see where you stand, where you want to go, and just exactly what it takes each week to get there. He/she will feel a sacred trust in helping you to achieve this goal.
* Let your partner help you decide what you need to do each week (even every day, if you need feedback that often). That way your partner knows what you should be doing, and is walking your path alongside you. You won’t be able to fib your way out of completing your task.
* It is better if your partner is NOT your spouse or someone who lives in your home. We do better when we account to a third party.
* Have your partner call you at a certain time each day or week, asking about your progress. Do not let him or her leave voice mail.
* Decide in advance about any rewards for reaching certain goals, and what approach you’ll take as a team when goals are missed. Set these up before the event happens, so you simply follow a pre-set program, without reacting in the emotion of the moment.

If you find that you’re really having problems getting a job done, have your partner ask about your progress two, three or even four times per day that way you can report which bite size tasks you’ve crossed off your list. This usually will work only for a few days, either when encountering a really difficult task, or when getting the ball rolling after a period of inactivity. Yes, it sounds deceptively simple. But when you know that your partner is going to ask you about your progress and make you feel guilty if you didn’t do what you’re supposed to do, you’ll get the task done. It’s simply less painful to do the task than face your partner’s wrath.

February 2011 NO MORE Mortgage Newsletter

david.bollard — Thu, 03 Feb 2011 20:41:48 +0000

WHEN INCOME IS CUT, HOW SHOULD I PRIORITIZE CASH FLOW?…

1. Pay the Rent/Mortgage First: Regardless of your financial circumstances, you need a roof overhead, a place to call home, a sanctuary from the world at the end of the day. So, your housing comes off the top of your check. If your check is not big enough, you may have to relocate or find a roommate. When applying for a loan, I was told the house payment or rent should not be more than 25% of the monthly income. Any amount above and beyond that percentage and you will surely be financially challenged.

2. Pay the Utilities Next: The roof over your head will be very uncomfortable, if you are freezing to death in the winter, or roasting to death in the summer. You need to keep up with your utilities. If you are ever required to pay late fees or reconnection charges, it will be extremely costly and put your finances further in the toilet. If your utilities are too high, you must conserve. In the winter, turn the heat down a couple of degrees and wear a sweater, if necessary. In the summer, turn the air conditioning down to a bearable temperature. When you are not at home, keep the house about 10 degrees lower than when you are home. The same goes for nighttime. Crawl deeper under the covers and save.

3. Pay the Remaining Bills: Before you do anything else with your money, pay your creditors. You bought it, your pay a monthly fee for service, or you already used it, and you need to pay. If you do not pay your bills, the cost rises for the people that do, your credit will be ruined, and debt collectors will start to call.

4. Buying Groceries: You have met all your financial obligations, and you need to buy groceries. Now what? You already know you do not have enough to shop for your favorite food items. You need to shop sales, used coupons-even if they may be a pain to collect, buy generic, and cut back on your list. For example, I love a good steak. However, I am on a hamburger budget. So, I buy hamburger. Sometimes, even when hamburger seems too expensive, I purchase eggs, beans, potatoes, and peanut butter. These are excellent sources of economical protein. What you buy at the store may not be your favorite items, or even your preferred brands, but you are doing the right thing to stay within your budget.

5. Say “No”: If staying within the budget is still impossible, you need to learn to say “no”, even to yourself. Personally, I like to watch television, when I have the time. However, if the privilege of cable keeps me from observing the first four budget constraints, it is bye-bye cable. I would much rather feed my kids than watch the news. If you have more expenses than you have money, obviously something has to go. You may have to say “no” for many things you or your family want, but it is more important to budget for housing, utilities, absolutely necessary bills, and food. Anything else is optional.

How to stay on a tight budget, and live within your means…

As a single mother of two growing children, I have a tight budget, even with child support payments. Just when I think I am getting ahead, somebody needs a new pair of glasses or a dental visit. Forget that my youngest is having growth spurts and needs a new wardrobe two or three times a year. With my oldest going to college soon, and still paying off my own student loans, I have tough money decisions to make.

Just like everyone else, I have to prioritize how I spend any income. First of all, the house payment, car payment, and student loan are automatically deducted from my account, so nothing is paid until that money is subtracted from the budget. Next, I pay the utilities. Since my first full-time job was working with the electric company for 10 years, and the fact that the family lives in cold country, I know letting those bills slide will only cost me more in the long run. Then, I am trying to pay off credit card debt, one teaspoon at a time. As you all know, paying the minimum is not an option, if a person ever hopes to get out of debt. So, I try to pay extra, and try to keep up with my debt plan software.

Finally, I can go to the grocery store. Now, I know many will say to go to the store first, feed the kids, and then worry about the bills. Some have even criticized me for doing the opposite. However, it works for us. Since I have a fluctuating income, some months we have a Mac and cheese budget, and other months we can do better. I will say this—my family has never gone hungry. We may not always get to eat our favorite foods, but my kids always get filled up.

I know I said “finally” about the grocery store, and some of you may be wondering why I put food after debts. It’s because I believe food is where we can save the most money, and so it’s the most flexible. Others ask me about the entertainment piece of the pie. Well, going to the movies is a once or twice a year treat. We have a library of movies we can watch on the television. We play games on the computer or get out a deck of cards. Between school, work for my boys, and extracurricular activities, we are not really concerned about an entertainment allowance. We have decided to set them aside for a higher goal, and as a family, we are all on the same page. I can say that I believe the battles we have fought, and the hard choices we have made, will stick with my sons for the rest of their lives. I believe that as a Mom, I am teaching lifetime skills, and leaving a legacy that will bless my grandchildren. This is a huge reward for me.

Ever had a “no-money weekend?…

Think about it—when do you spend the most, during the week or on the weekend? For most people, it’s the weekend. So, here are some fun ideas on how to combat the 2 favorite days for overspending. Take it to heart and try it, even once/month, and what new things you can add to your life.

1. Check out the community calendar. Look at your town’s website (as well as those of cities and towns nearby) or stop by city hall to find a list of events going on in the community, many of which are free. You’ll often be surprised at how many interesting (and free) activities are going on right now in your area.

2. Visit your community library. Not only is a library a warehouse of books, most libraries also have extensive CD and DVD collections you can check out. Many libraries also have “story time” for young children, film nights, book clubs, and many other events that you may be unaware of – completely for free. Stop in and check out what they have to offer.

3. Get involved in community sports. Many towns have community sports fields where both youth and adult sports leagues and activities are regularly going on throughout the weekend. Stop by, watch a game or two, and if something intrigues you, look into joining either as a participant or as a volunteer.

4. Get your financial papers in order. This may not sound like a fun activity up front, but the peace of mind it gives you will make your life a lot more relaxing. Spend an hour or two organizing all of your statements and other financial documents. This is a perfect time to start your own filing system.

5. Check out some podcasts. Podcasts are wonderful things – top-notch audio programs available for you to listen to for free. Give some a sample – you can do it easily by using iTunes. Visit the Podcast section of the store and check a few out. My favorites include The Splendid Table (on food topics), Marketplace (on economics and business), Speaking of Faith (on religion), Fresh Air (interviews of general interest), This American Life (quirky general interest stuff), and This Week in Tech (technology news), among many others.

6. Play board games. We have a pile of board games, mostly received as gifts, that we often pull out and play, plus our closest friend has a few choice ones. Classic games like Monopoly and Pictionary can be great fun, but our favorites are Settlers of Catan, Cartagena, Puerto Rico, and especially Ticket to Ride. Just dig through the recesses of your closet, find an old board game you haven’t played in ages, and bust it open!

7. Bake a loaf of homemade bread. You probably have everything you need to make a loaf of bread in your kitchen right now (except for maybe the yeast). Anyone can do it, and the bread turns out deliciously. Here’s a detailed visual guide for making a simple loaf with minimal ingredients and complexity.

8. Learn how to juggle. All you really need is three balls and a video showing you how to do it. Not only is it a fun activity to learn, it’s something that’s fun to bust out as a party trick on occasion (trust me, you can always get people to smile if you juggle three fruits in the kitchen while preparing something).

9. Teach yourself how to change the oil in your car. If you’re due for an oil change, just bring the oil you need home with you and teach yourself how to do it. All you really need is an old pan to catch the wasted oil and a funnel to pour the old oil back into the canisters for later disposal. Just use your car manual as a guide for the procedure and you might just find that not only is it a lot easier than you thought, but it’s a useful skill to have and it’s cheaper than taking your car into Jiffy-Lube (or wherever you take your car for oil changes).

10. Meet your neighbors. Make an effort to introduce yourself to your neighbors if you don’t know them well. Invite any interesting ones over for a cup of coffee and a chat, just to get to know each other better. Your neighbors can not only become friends, but can also be a valuable resource – a friendly pair of eyes on your property when you’re away or a helpful set of hands when you’re trying to complete a challenging task.

11. Have a “cupboard potluck.” Go through your cupboards and find any items that might have slipped to the back over time. Invite some friends to do the same, then get together for a potluck dinner prepared from only these ingredients and whatever else you have on hand. It makes for a “free” meal and a lot of fun for everyone involved.

12. Clear out your media collection – books, DVDs, CDs, etc. Just go through what you’ve got, determine which ones you’d actually like to keep, and get rid of the rest. You can either sell them at a used media shop or swap them online using services like PaperBackSwap, SwapTree, and SwapADVD. In either case, you’ll get rid of stuff you don’t watch or read or listen to any more in exchange for either some money or new media to enjoy.

13. Make a 101 Goals in 1001 Days list – then start on some of them. A 101 Goals in 1001 Days list is a very effective way to codify all of the ideas of things you’d like to do all into one place, so that when you have spare time, you can just turn to the list and do what’s next on it. Spend some time thinking of things that belong on this list, then when it’s finished, you’ll have an excellent list of potential accomplishments and be ready to go with lots of activities.

Some Inspiring Thoughts on Financial Discipline…

1. Check out the community calendar. Look at your town’s website (as well as those of cities and towns nearby) or stop by city hall to find a list of events going on in the community, many of which are free. You’ll often be surprised at how many interesting (and free) activities are going on right now in your area.

2. Visit your community library. Not only is a library a warehouse of books, most libraries also have extensive CD and DVD collections you can check out. Many libraries also have “story time” for young children, film nights, book clubs, and many other events that you may be unaware of – completely for free. Stop in and check out what they have to offer.

3. Get involved in community sports. Many towns have community sports fields where both youth and adult sports leagues and activities are regularly going on throughout the weekend. Stop by, watch a game or two, and if something intrigues you, look into joining either as a participant or as a volunteer.

4. Get your financial papers in order. This may not sound like a fun activity up front, but the peace of mind it gives you will make your life a lot more relaxing. Spend an hour or two organizing all of your statements and other financial documents. This is a perfect time to start your own filing system.

5. Check out some podcasts. Podcasts are wonderful things – top-notch audio programs available for you to listen to for free. Give some a sample – you can do it easily by using iTunes. Visit the Podcast section of the store and check a few out. My favorites include The Splendid Table (on food topics), Marketplace (on economics and business), Speaking of Faith (on religion), Fresh Air (interviews of general interest), This American Life (quirky general interest stuff), and This Week in Tech (technology news), among many others.

6. Play board games. We have a pile of board games, mostly received as gifts, that we often pull out and play, plus our closest friend has a few choice ones. Classic games like Monopoly and Pictionary can be great fun, but our favorites are Settlers of Catan, Cartagena, Puerto Rico, and especially Ticket to Ride. Just dig through the recesses of your closet, find an old board game you haven’t played in ages, and bust it open!

7. Bake a loaf of homemade bread. You probably have everything you need to make a loaf of bread in your kitchen right now (except for maybe the yeast). Anyone can do it, and the bread turns out deliciously. Here’s a detailed visual guide for making a simple loaf with minimal ingredients and complexity.

8. Learn how to juggle. All you really need is three balls and a video showing you how to do it. Not only is it a fun activity to learn, it’s something that’s fun to bust out as a party trick on occasion (trust me, you can always get people to smile if you juggle three fruits in the kitchen while preparing something).

9. Teach yourself how to change the oil in your car. If you’re due for an oil change, just bring the oil you need home with you and teach yourself how to do it. All you really need is an old pan to catch the wasted oil and a funnel to pour the old oil back into the canisters for later disposal. Just use your car manual as a guide for the procedure and you might just find that not only is it a lot easier than you thought, but it’s a useful skill to have and it’s cheaper than taking your car into Jiffy-Lube (or wherever you take your car for oil changes).

10. Meet your neighbors. Make an effort to introduce yourself to your neighbors if you don’t know them well. Invite any interesting ones over for a cup of coffee and a chat, just to get to know each other better. Your neighbors can not only become friends, but can also be a valuable resource – a friendly pair of eyes on your property when you’re away or a helpful set of hands when you’re trying to complete a challenging task.

11. Have a “cupboard potluck.” Go through your cupboards and find any items that might have slipped to the back over time. Invite some friends to do the same, then get together for a potluck dinner prepared from only these ingredients and whatever else you have on hand. It makes for a “free” meal and a lot of fun for everyone involved.

12. Clear out your media collection – books, DVDs, CDs, etc. Just go through what you’ve got, determine which ones you’d actually like to keep, and get rid of the rest. You can either sell them at a used media shop or swap them online using services like PaperBackSwap, SwapTree, and SwapADVD. In either case, you’ll get rid of stuff you don’t watch or read or listen to any more in exchange for either some money or new media to enjoy.

13. Make a 101 Goals in 1001 Days list – then start on some of them. A 101 Goals in 1001 Days list is a very effective way to codify all of the ideas of things you’d like to do all into one place, so that when you have spare time, you can just turn to the list and do what’s next on it. Spend some time thinking of things that belong on this list, then when it’s finished, you’ll have an excellent list of potential accomplishments and be ready to go with lots of activities.

NO MORE Mortgage on Debt Settlement

No More Mortgage — Wed, 13 Oct 2010 21:23:49 +0000

What You Should Know About Debt Settlement from NO MORE Mortgage

NO MORE Mortgage is asked from time to time about debt settlement companies. While we do not negotiate with creditors or hold client funds in our custody, we can recommend a reputable third-party firm to help those of you in financial crisis.

You can always call your NO MORE Mortgage Plan Coordinator for a review of your financial options. We can discuss the pros and cons of debt settlement vs. NO MORE Mortgage, along with Consumer Credit Counseling and Bankruptcy, to help you honestly evaluate your choices. Learn how NO MORE Mortgage is different from debt settlement here.

Having a trusted 3rd party counselor in a tumultuous time like this can be lifesaver. NO MORE Mortgage is happy to help. Please read the article below that summarizes the industry. A second post will discuss the risks and the consequences of choosing debt settlement.

If you’re drowning in unpaid bills and desperately looking for a way out, chances are you’ve come across an offer that sounds something like this: For a fee, a professional debt-settlement company will help eliminate your debt for as little as half the amount you owe.

Does this sound like a scam? Or are you finally getting the break you deserve? The answer may surprise you. Debt settlement is, in fact, a perfectly legal solution for consumers who are in deep and seeking an alternative to bankruptcy. But having a debt-settlement company do the legwork for you can be risky and expensive.

The Basics on Debt Settlement vs. NO MORE Mortgage

If you are falling further and further behind on your payments, creditors would much rather agree to settle your debts than have you file bankruptcy and not get paid at all.

For an agreed-upon one-time fee, usually between 10% and 60% of what you owe, your creditor eventually forgives the rest of your debt and starts reporting the account to the credit bureaus as settled, or paid as agreed. On your credit report, the balances of settled debts will show $0. However, any previous history of delinquent payments or charge-offs will remain for all to see.

In order to get your creditors to do this, you’ll need to start putting money aside toward the settlement, and you do this by stopping payments to your creditors.

Not surprisingly, creditors don’t like to advertise debt settlement. They also make it an extremely difficult solution to pursue. As a rule, creditors won’t negotiate with consumers who are current on their bills, usually refusing to discuss settlements unless you’re at least three to six months behind. That means you will have to dodge collection calls while trying to save up the cash for a settlement. This is one of the little known downsides to the whole process.

If you’re working with several creditors — you’d typically tackle the debts one at a time as you collect the money to pay them off, but it’s hard, if not impossible to know which creditor might fall out of line and attempt to sue you, or which one will be willing to settle first. In the experience of NO MORE Mortgage, clients who have hired debt settlement companies do not really do much better than if they had done the negotiations themselves. What they are buying when they hire a third party to represent them is avoidance of the stress of negotiating.

Once you sign up with a company, chances are you’ll pay dearly for its services. Again, in the experience of NO MORE Mortgage, these fees are all over the place.

Some companies charge a percentage of the total debt — typically 15% to 20% — that’s paid before you start accumulating savings. Others charge a percentage of the debt savings — usually 25% — once you settle, plus an initial sign-up fee and monthly service charges. Then there are those that charge a flat monthly fee throughout the length of the program.

(read more on this subject, including the downside of debt settlement, and our NO MORE Mortgage commentary on the consequences and experiences that our clients have had when they have chosen this solution. In our opinion, it’s all of the bad, and none of the good)

Learn how NO MORE Mortgage is different from debt settlement here.

Will the NO MORE Mortgage Financial Plan work for me?

To find out if you qualify today!

Find out what thousands of satisfied clients already know about taking control of their finances, and using the power of reverse compounding interest to beat the banks at their own game! NO MORE Mortgage Representatives are standing by to answer all of your questions about our program, including how soon you will be debt free, and how much money you will save in interest!

Overcoming the Urge to Splurge with NO MORE Mortgage

No More Mortgage — Mon, 20 Sep 2010 21:51:40 +0000

Many of us have experienced the emotional side of spending money, the NO MORE Mortgage Program specializes in helping clients identify and manage those emotions.

We may feel the need to dine at an expensive restaurant in order to “celebrate” a specific achievement. Or we might go out and purchase a new outfit because we have been treated unfairly and we “deserve” to be pampered. Compulsive spending is usually an attempt to fill an inner emotional need, but the pleasure we feel from our shopping “spree” is only temporary, followed by guilt and the knowledge that we have only increased our debt load. This urge to splurge can eventually cause difficulties on a long-term basis. Not only will our financial stability be damaged, but relationships can also be jeopardized. Somehow we must recognize that our happiness and self worth will not come through spending.

NO MORE Mortgage can help you overcome the urge to splurge.

Security and satisfaction will come as we take care of essential needs and savings, before considering our wants. You may recognize yourself as a compulsive spender. Good for you! That is the first step to overcoming your urge to splurge. Asking yourself a few questions can help you to understand your emotional needs and how they play a role in your spending addiction.

What does money mean to you?

We tend to handle money situations the way our family did when we were growing up. Some might feel as though they missed out on opportunities as a child and want to make up for that now. Does money make you feel accepted, loved, important? When you think of acquiring more things does it bring you comfort or make you feel happier? Are you a procrastinator? Will there always be time to save for important future events, such as a home, vacations, education, or retirement? Is paying off your debt an important priority, or does the thought of becoming debt free and having NO MORE Mortgage just seem too distant and unreachable?

Do you understand the cycle of your addiction?

Addictions form a cycle that is difficult to break. That cycle usually begins with a feeling of discouragement or negative self worth caused by unresolved issues. The compulsive spender believes that spending money will fill that emptiness and make them feel more worthwhile and complete. At the time they make their purchase they feel happy and fulfilled, but after, they are once again faced with their financial problems and their feelings of negative self worth.

Where does your money go?

Experts at NO MORE Mortgage agree that understanding where you are spending your money is one of the most important steps in learning to manage emotional spending.

A compulsive spender finds that much of their income is already spoken for by the required monthly debt payments resulting from previous purchases. While you are shopping, it is helpful to notice the cost of individual items as well as the amount of your total transaction. For one month, keep track of how much you spend. What areas seem to have the most transactions? For instance, does restaurants, clothes, or video games take over your budget?

What role do your emotions play?

Stop and think about the way you are feeling when you consider buying something. How do you feel immediately after the purchase is completed? Put a name to the emotions: excited, happy, fearful, guilty, sad, angry. How do you feel about the purchase later that day or the day after? How do you feel the next week? Add up your total spending for the month. Were your emotional needs met? Do you actually feel more successful, happy, loved, safe? Are there feelings of self doubt, worry, and fear because of the choices you made?

It can be quite helpful to understand that the urge to splurge has a direct connection with our emotional needs. Understanding that you have allowed your spending to have power over much of your life can make all the difference. By taking time to think about your emotional state before you make a purchase, you will be better equipped to overcome your addiction, leading you to a much more successful financial future.

For more information and to get a FREE audio CD call today. 1.800.285.9102

Will the NO MORE Mortgage Financial Plan work for me?

To find out if you qualify today! Find out what thousands of satisfied NO MORE Mortgage clients already know about taking control of their finances, and using the power of reverse compounding interest to beat the banks at their own game! NO MORE Mortgage Representatives are standing by to answer all of your questions about our program, including how soon you will be debt free, and how much money you will save in interest!

Do you have enough homeowner’s insurance?

No More Mortgage — Mon, 13 Sep 2010 20:54:22 +0000

NO MORE Mortgage suggests reevaluating your homeowners insurance needs every year.

If you’re like most people, you signed up for a homeowner’s insurance policy to satisfy your mortgage lender. However, as life runs its course our circumstances often change, and if you don’t take the time reevaluate your insurance needs you could wind up in trouble. It only takes one natural disaster or major accident to derail you from the path to NO MORE Mortgage, leaving you in financial ruin.

Don’t get caught without the coverage you need, contact NO MORE Mortgage for more details

Are you a high income earner?

Do you live in a fault zone?

Do you live in a flood zone?

Does your home have a basement?

Do you own expensive jewelry or family heirlooms?

Do you employ people in your home?

Do you have a mortgage balance of over $300,000?

If you answered yes to any of these questions, NO MORE Mortgage suggests that now may be the time to double check your insurance coverage to make sure you are sufficiently protected.

In some circumstances you may need special types of policy coverage to meet all of your needs. For example, NO MORE Mortgage suggests independent insurance policy for any piece of jewelry or heirloom worth more than $5,000 or making sure your policy does not have a “per item” coverage eligibility limit. Most standard policies will not cover damages due to flooding and certain types of natural disasters.

NO MORE Mortgage also recommends fully disclosing to your insurance carrier any high risk elements of your home like swimming pools or trampolines. While you may be tempted to hide these things to get a lower insurance premium, if you have an accident involving something that you didn’t disclose on your insurance application, you WILL NOT be covered.

To find out about how NO MORE Mortgage can help you eliminate all of your debt, including your mortgage, in about nine years, contact us today.

NO MORE Mortgage Tip – Are you keeping an eye on your spending?

No More Mortgage — Fri, 11 Dec 2009 20:05:35 +0000

NO MORE Mortgage Money Tip on watching your money.

Are you keeping an eye on your money and tracking what you spend and where? Somebody needs to, and if you aren’t doing it, who is? Does anyone else have a bigger stake in wiping out your debt and building the retirement you want and deserve than you?

Here is a list of things you should be doing to keep an eye on your spending. There are many more ideas than this, but here are some that you need to be doing now.

Go through your last bank statement and write down what each charge was for. This can be an eye opening experience. Grab a cup of coffee or something to drink and go line by line. This exercise could save you money next month just by knowing where you seem to waste money without thinking about it.
Group items together by making a note at the end of the item. Make groups for food, utilities, meals, clothes, etc. Then total up these different categories and see if any of the totals surprise you.
Now that you may, or may not, be surprised at where your money has been going, ask yourself if there is something obvious that you can cut back on.
Take a look at the bank statement and see how much you paid toward debt, like credit card bills. How does that feel?
Now take another look and see how much money you put toward your savings. Anything there?
Take another look and see if you put anything towards an emergency fund. Or is your emergency fund a credit card? We can’t do that. So if you don’t have an emergency fund that would cover your needs for at least a month you should start putting money into one and then go back to adding to your savings every month.
Do you have any major purchases or costs coming up in the next 2 years? Are you putting any money away for them?
Ask yourself if you are only paying the minimum payments on your credit cards. (The credit card company will happily let you do so for the next 30 years or so.)

Now this is an excellent exercise to learn a few things about your spending habits and you may very well find a few places where you can cut back and not spend so much money.

This is by no means a comprehensive list of what you should be doing and how to track your money. But it’s a good start to take a look at how much of your money is going out against what you have coming in.

Once you’ve done this you need to get a snapshot of how much it will cost to pay off all of your debt and how long that will take. You really need to know this if you want to make sure you are making wise decisions on your spending and your savings. Almost no one you know has a realistic number on how much they owe or when it will be paid off. To get it you have to figure in the interest on all of your debts along with the extra payments it will take to pay it off.

So here’s a secret you can take advantage of: NO MORE Mortgage will create an analysis of your debts for you that shows this and more, and you can get it for free. There is no cost and no obligation. Just free. All you have to do is ask. And you can order a free CD up on the left side of the page that will give you some great information on eliminating your debt.

You need to know how much debt you really have. Your statements don’t tell you, they just show the principle balance. So get your numbers for free and see where you really stand.

Watch this video of a NO MORE Mortgage team member below and then call us at 800.285.9102 and ask for a free debt analysis so you can make wise, informed decisions that will affect your future.

P.S. – Watch our short 2 minute NO MORE Mortgage video to learn more about our program.

NO MORE Mortgage gives you a plan for your debt. What’s your plan today?

No More Mortgage — Fri, 11 Dec 2009 11:01:05 +0000

What is your plan for eliminating your debt? Have you even made one yet? Most people put this off because they don’t want to face the unknown. It’s easier to keep idling along blissfully ignorant of how much money you owe or where you are on building your retirement. But it’s going to catch up with you, and the sooner it does the better for you and your future because you’ll have to do something about it. You need to face your circumstances eventually, so realize that every month you’re in debt could be costing you thousands in retirement income you’ll want later.

Let’s talk about a few problem areas and then we’ll look at how you can get a snapshot of how much you really owe so you can make some better informed decisions in regards to your finances. NO MORE Mortgage offers a free snapshot you can use to make those better decisions.

A common area many people have trouble with is overspending. It can be triggered by advertising, seeing something you want, influences from your friends, impulse buying, or stress induced “comfort buying.” In these cases, you are generally not thinking about where you are financially or when you’ll be able to pay it off. Consider that you may feel pressured to spend more, buy this or that, look a certain way, dress a certain way, or have certain things to fit in or feel like you are living the life you are supposed to. There are many triggers for spending, but they almost all lead back to “emotional” spending.

The next time you are buying something that you don’t absolutely need, ask yourself why you’re buying it and what led you to want to buy it. Do this every time you are buying something and look at what patterns show up and where the motivation to spend at that moment is coming from.

Often, buying something you impulsively want doesn’t feel like it’s going to be a problem. You think “I’ll buy it now and pay for it later.” The problem with that is you will often pay it off much later, having spent many times the original price in interest in the form of credit card payments. When that happens, your future is paying for it. The money you spend on your debt in one month could be worth thousands to you later in retirement after it has had time to build up.

We’re living in a fast paced, complex world where it’s hard to keep track of your money unless you spend some focused time on it. You have money spent on credit cards, ATM cards, department store cards, automatic debits, utility or other bills on automatic payment, written checks, cash withdrawals, dinner receipts, and other expenditures to keep track of. It’s not easy.

You’ve got credit cards in the land of easy credit and get offers for more every month. They entice you to use them with promises of extra miles, points, and rewards.

What your creditors don’t point out is that you will often pay back 2 to 3 times what you borrowed (especially on your mortgage) and that compounded interest is their friend and your enemy in this case. Also, your creditors give you a payment schedule designed to make them more money and stretch out your debt.

You didn’t learn about this in school or at home, so you need to get on top of your debt and reclaim your future now before it’s too late. One thing you need to understand is that when it comes to your retirement and building up enough to take care of you, there is such a thing as starting too late.

You may not have a plan yet because you don’t know where to start. The place to start is figuring out how much you are really going to pay out and how long it is going to take to pay off your debt. You can’t just look at your statements and add up the balances. You have to take into account the interest and amount of payments it will take.

To make this easier for you, NO MORE Mortgage offers a free analysis that will show you these numbers. There is no cost to you and no obligation. Do this for yourself. It’s vital that you know where you really stand.

Give us a call at 800.285.9102 and let us help you get started.

Do you really know how much you owe on your debt?

No More Mortgage — Sun, 29 Nov 2009 09:03:21 +0000

If you’re like most people, you think of the balances on your statements for your mortgage, credit cards, and other debts as what you owe.

Well, yes it is and no, it isn’t. Yes, at one moment in time a statement can show what you owe if you were to pay it off completely. And no, it isn’t, when you factor in interest payments over time.

That interest over time is what steals your future like the thief that it is. Your debt can rob you of hundreds of thousands of dollars you should have at retirement. Debt sneaks up on you and stretches the pain out slowly so you don’t notice how much it is costing you. Did you know that half way into a 30 year mortgage you can still owe 75% of the principle? We’ve seen credit cards that would stretch out to 40+ years, or even more, at the minimum payment.

Think about this for a minute. You pay your creditors back based on a schedule that they create, and they earn their living off of the interest that they charge you, along with extra fees and charges. So do you think they create their payment schedules with your best interest in mind? Is your money going towards building your future, or theirs?

What they know is that most people think about the balance on their statements and figure that’s about what they’ll pay back. What they don’t want you to know is that by utilizing a program like ours at NO MORE Mortgage, you could pay them back significantly less and save yourself a great deal of money. Our program creates a new payment schedule that meets your obligations with your creditors and pays them back up to 75% faster, allowing you to keep far more of your money and get out of debt that much sooner.

The creditors also know that most people won’t follow through with a debt elimination plan on their own, as they either don’t have the financial discipline or the time to work their plan, month in and month out, for the time it will take to get out of debt. That’s why our program does the work for you. We work to ensure that you are successful at eliminating your debt safely and wisely. Our program can often improve your credit faster than would normally happen too.

So, do you really know how much you owe on your debt, and how long it will take to pay it off based on how you’re paying your debts today? We can easily show you that and also compare that to how much you could save and when you could become debt free if you take advantage of our program. We offer a free debt analysis with no obligation that will show you all of this.

To make good decisions, you need good information. Knowing how much you really owe and how long it will take to pay it off has an impact that you will not soon forget. And it can influence your financial decisions for the better. Call NO MORE Mortgage and ask for a free debt analysis. It doesn’t take long once you give us the info we need to run your analysis. And we don’t need any information that would put your identity at risk. You can ask for our free audio CD using the form on the left side of the page too. It has some great information on it that could save you a lot of money.

Give us a call and let us help you get on track to a debt free future with less stress and more financial security. We’re at (888) 239-3765.

NO MORE Mortgage tip on how to save money with comparison service…

No More Mortgage — Mon, 17 Aug 2009 16:12:19 +0000

NO MORE Mortgage is dedicated to your financial success

NO MORE Mortgage would like to offer tools and websitesÂ it feels that its customers can benefit greatly from.

This weeks NO MORE Mortgage highlight is www.billshrink.com

Why Bill Shrink?

It’s as simple as asking yourself, why overspend? Given the vast number of complex offers and plans, such as those from the major mobile carriers and credit card issuers, chances are pretty good you’re paying more than you need to.

We make it simple to compare what you’ve got to what they’re offering. And if you’re like most people, that means significant savings. Isn’t that just how things on the Web should be? Incredibly useful, simple and free.

For more information visit www.billshrink.com
NO MORE Mortgage

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