Time to Reduce Your Debts

  • I know that I tend to harp on debt. That's because I've seen debt hurt so many people. People who didn't get to live the lives they had planned because they were always playing catch-up financially.

     

    So it won't surprise you that an article from Bloomberg caught my eye. The theme of the article was that China was in the midst of a debt bubble just like we were in the states back in 2005-07. The Chinese economy has slowed big time. Debt levels keep increasing. And yet property values also keep increasing. And (just like in the U.S.) the bubble will pop and a lot of debts will become uncollectible. You can read the article here

     

    Why should you care? One reason sticks out. It may take awhile, but eventually you'll pay more to borrow money (no matter how good your credit score). The Chinese have already slowed the amount of U.S. Treasury bonds that they're buying. That will mean a higher interest rate for treasury bonds and everything else.

     

    That'll hurt people in debt. The solution is to reduce the amount of debt you have with the goal of becoming debt-free. We have resources to help you. And, unlike some others out there, we don't charge for them.

     

    Our get out of debt course will help you identify any debt problems and show you some tools you can use to fix any you may have.

     

    And we know that it's a journey. So we encourage you to subscribe to our Surviving Tough Times newsletter. Each weekly issue includes articles that will show you how to cut expenses so that you have extra money to use to pay off debts. I'd be willing to bet that you find something that can save you money in every issue. Not to mention the motivation to keep on moving forward.

     

    So how about it? You can stay in debt and keep paying interest to heartless lenders. Or you can start claiming your debt-free future one step at a time. The choice is yours!

     

    Keep on Stretching those Dollars!
    Gary


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