| End the Vicious Cycle of Credit Card Debt
Bills.com cites 5 ways to achieve personal financial freedom now. San Mateo, Calif. (PRWEB) July 25, 2007 -- American consumers who are bold enough to take a mid-summer pulse of their personal finances may find more debt than ever before. American families owed a total of $895 billion on credit cards at the end of May (Source: Federal Reserve) -- and Bills.com co-founder and co-CEO Brad Stroh reports that Americans must take steps now to end the vicious cycle of debt. "Debt has become a growing problem, and many Americans need to find a solution. With uncertainty about the future of housing prices, the high cost of oil, and record hikes in health care and higher education costs, many people are on the precipice of financial disaster. Americans are playing with fire by maintaining an average credit card debt load approaching $10,000 per household (Source: CardData.com)," Stroh said.
Morris Esquenazi isn't on campus yet, but he already has his college finances in order.
To save money on food, the University of Central Florida freshman axed a meal plan. Instead, his mom will send meals, which also helps him stay kosher. Esquenazi, 18, of North Miami Beach, also plans to set a $50-a-week grocery limit for himself. As college freshmen like Esquenazi arrive on campus in the coming weeks, they'll encounter more than new faces and places. For some, it will be the first taste of financial freedom and a chance to start healthy money habits, financial planners said. ''It's the first time these kids are away from home. For a lot of them, they may not have had a checking account . . . they haven't had a credit card,'' said Mari Adam, president of Adam Financial Associates in Boca Raton. ``It's like Spiderman: With these [tools] come a lot of responsibility.'' To steer freshmen in the right direction, The Miami Herald asked students, financial experts and university officials for pointers.
Will the Leak Ruin the Engine?
It's not just about subprime mortgages anymore. The turmoil we're witnessing in global financial markets is nothing less than the popping of an enormous credit bubble that built up over the past five years, artificially inflating the market prices of stocks, bonds and real estate. It created a bonanza for Wall Street investment houses and private-equity funds and fueled the longest and strongest period of global economic growth in modern history. .
Darryl and Jennifer Hazelwood: Sticking with New Orleans
Darryl and Jennifer Hazelwood have moved on after Katrina. Now if only they could move in. "It'll be a relief to get into our new house," says Darryl, 35, who expects the New Orleans home they bought a year ago to be ready for the couple and their kids Emily, 2, and Dylan, 1, any day. "Then we'll feel as if we've got our lives back." .
Banks block more overstretched borrowers from scheme to reduce repayments
The Debt Resolution Forum yesterday warned that there could be an "explosion" in the number of reported bankruptcies and a debt crisis if lenders continued to block debtors from obtaining individual voluntary agreements (IVAs). The Debt Resolution Forum (DRF), represents 28 of Britain's IVA firms. IVAs enable those with large debts to reduce their repayments by reaching an agreement with banks which have lent the money. The banks have become increasingly wary of granting IVAs. .
(AFX UK Focus) 2007-08-01 16:00 GMT: TFN NEWS BRIEFING: Banking and insurance highlights to 15:45 BST
2007-08-01 15:31:14 Pending home sales rise in June WASHINGTON (AP) - Pending sales of existing homes rose by 5 percent in June compared with the previous month, a surprisingly positive sign for the beleaguered housing market, a real-estate trade group said Wednesday. 2007-08-01 15:30:17 Pending home sales index rises WASHINGTON (AP) - Pending sales of existing homes rose by 5 percent in June compared with the previous month, a surprisingly positive sign for the beleaguered housing market, a real-estate trade group said Wednesday. 2007-08-01 15:23:57 Stocks waver on continued credit worries
NEW YORK (AP) - Wall Street stumbled in search of a direction Wednesday
as investors grappled with continued worries about U.S. home loans and the credit market and fresh data on housing and manufacturing.
|
