| |
| |
|
|
Debt Relief Information |
|
The ONE Law You Should Be Breaking
There is a law all smart people break. Parkinson's law. Parkinson's law states that "work expands so as to fill the time available for its completion." It was first coined by C. Northcote Parkinson in the book Parkinson's Law: The Pursuit of Progress. A common derivation of that is "expenses rise to meet your level of income." Has that happened to you? It happened to me in 1991 and I'm particularly aware that it could happen to me again in 2005. In 1991 I took my BS in finance and started a carpet cleaning business...like most finance majors, of course! I learned the business for a couple months and was earning a whopping $200-$300 per week working for someone else. When I left that company and went out on my own, the ad I used FLOODED me with business. I had 15 calls by 10:30AM the day the small ad first ran. The answering service told me every "little old lady in Saratoga was calling". So almost immediately I went from making $200-$300 a week to making upwards of $1000 per week. WOW...23 years old and making that much money WORKING FOR MYSELF was great fun...had a great boss! I don't remember what I spent all the money on other than one of those nationwide pagers but my spending rose dramatically. But guess what? At $7.95 per room for carpet cleaning it doesn't take a math major to figure out I was working very hard to earn $1000 a week. So, of course I got tired and lazy and slowed down. My income level dropped to some level probably near $500 per week but my lifestyle didn't and you can figure out the rest. If, while earning $1000 per week I was living like I made $400-$500 per week I would have been sitting pretty... or whatever the male equivalent of sitting pretty is! :>) Recently in a workshop I had a woman relate her story. Her husband had been out of work because of injury for about a year. They had been living on only her income for that time. Before his injury they had been living on two incomes and usually had just enough money to meet all their expenses. The injury had her worried. How could they do it on one income? Somehow, THEY MADE IT. All the bills were paid on time. They didn't take any drastic measures like canceling the cable or pulling apart the 2-ply toilet tissue to get 2 rolls out of every one. This gal was amazed and tremendously EXCITED because her husband was going back to work soon and she was going to be able to put a large chunk of one entire income toward eliminating all their debt using my program. (Do you have it yet?) Two thousand dollars a month put under your mattress or towards paying off a debt is $24,000 per year or $120,000 after 5 years. This family was forced to break Parkinson's law and you see how it dramatically improved their lives. The silver lining in the cloud. Don't be forced to break the law...do it voluntarily starting today. If you are a two-income household pretend that one of the incomes is now gone. If you are a one-income household advertise for a wealthy widow or widower and then pretend that your income was slashed in half. Keep track of every penny you spend...write it down...put it in your Quicken, Microsoft Money or any spreadsheet program...just get it on paper so you can see it. Be brutal about it and I'll bet you can live on half of what you now make. Take the "missing" half and pile it on your debt. (you know which debt don't you?) Break Parkinson's law and you'll never be sorry! Leo J. Quinn, Jr. owner of http://www.LeoQuinn.com is a financial educator from the Albany, NY area. For over eight years he has been helping thousands of people get control of their finances and get out of debt in a fraction of the normal time. He has a special offer for readers of this newsletter at http://www.1shoppingcart.com/app/adtrack.asp?AdID=132551
MORE RESOURCES:
Debt-Relief - Google News |
|
|
|
RELATED ARTICLES
New Bankruptcy Law - Where's the Consumer Protection? On April 20, 2005, President Bush signed into law the Bankruptcy Abuse and Consumer Protection Act, a piece of sweeping legislation that brought about the most sweeping changes in personal bankruptcy law in the last quarter century. This bill, which takes effect in October 2005, passed with the overwhelming support of both parties of congress, claims, through its very name, to offer "consumer protection. You Can Make Financial Resolutions Anytime The New Year often brings with it a desire to right the wrongs in your life. From this desire springs the tradition of New Year resolutions. How to Get Money When You Are Broke (Money You Don't Have to Pay Back) 1. One way to get money is to have a yard sale and sell itemsthat you are getting ready to toss away because you don't wantthem any longer. How to Avoid Bankruptcy Bankruptcy is a legal way to offer folks with high interest debt a fresh financial start in life. In case you are considering personal bankruptcy as an answer to your debt problems, you are not alone. Debt Free Living - 5 Tips To Get Out Of Debt A few times I wonder what sort of credit system moved the global economy 200 years ago. If the intention of getting into a business is meant to 'help' fulfill the needs and wants of someone, I don't see how credit card salesmen can drove more people into debt and backruptcy. Debt Settlement What is debt settlement?Debt Settlement is a process to settle your debts with the creditors. With debt settlement, a third party or you yourself negotiate with your creditors to come up with a reduced debt that you agree to pay. Credit Counseling or Bankruptcy: Which is Best for You? People often get to a place where they simply can't pay their bills, especially in today's economy which is not particularly sympathetic toward the poor or even the middle class. Inflation has impacted nearly every facet of daily life including food, gas, rent, clothes, utility bills and more. Debt We all know about debt. If you don't have too much as an individual you can increase the quality of your life, but with more than you can handle it can make your life a nightmare. Stop Debt Collectors Can you stop debt collectors ? . . Your Secret Weapon... A Budget For many, the word 'budget' immediately sends shivers down the spine. Why in the world would anyone need or want to budget their money?First off, budgeting your money does NOT mean you are poor, or are in need of financial assistance. Slowing Spending - The Key To Your Debt Plans Success Anyone who embarks on a debt reduction program should know the rules for success. There are two. Bankruptcy Reform: Designed to Protect Big Business Who will benefit from the new bankruptcy reform laws? The financial services industry and other big business groups, that's who.These groups contributed millions of dollars to elect Bush and other Republican candidates in 2000 and 2004, with the goal of overhauling the bankruptcy system. Whatever You Do....Dont Save Money! No, that's not a misprint. Even though falling interest rates are good when you want to get a loan, they are bad for people with savings accounts. Free Quick and Easy Money Saving Tips - Part 2 Although many consumers would argue differently saving money doesn't have to be difficult. In fact by making just a few changes in your normal lifestyle you can find ways to free up extra cash that can be put to better use in a savings account or an investment account. Debt Collectors; And what you can do to Get Them Out of your Life FTC opinion letter on validation Section 809(a) of the FDCPA, 15 U.S. Bankruptcy Reform There are some new bankruptcy laws going into effect before long and many think they are much needed. Of course, that depends on which side of the bankruptcy you are a part of. Personal Bankruptcy: Last Option To Legally Stop Bill Collectors Do you have stacks of unpaid bills?Are you in debt?Are bill collectors hounding you?Are you frustrated and annoyed and wish to get them off your back?If you answer yes, then pay close attention.Filing for a personal bankruptcy may be the last option for you. Creating A Realistic Budget Budgeting -- ooh, what a scary word! If you want to frighten someone whose finances are out of control, suggest that they tally up their expenses on a piece of paper. We all understand the value of such an exercise, but when it comes to the practicality of putting a budget together, we get cold feet. Debt Validation: Do you have to pay ? It happens all the time. Debt collectors try to collect on debts that consumers have no knowledge of or never owed in the first place. Bankruptcy, Is It A Way Out Negotiations with creditors have failed. Repossession is imminent and foreclosure proceedings have begun.
|
||||||||||||||||
