I’m going to be pulling some relevant educational and resourceful websites out of my bookmarks, as well as keeping my eyes peeled, for sites that are useful resources for information and advice. I am amazed at the wealth of information on the Internet. Right now the buzz if how to reduce debt, especially in light of governments’ profligate spending and mismanagement of resources. Understanding economics and debt and learning how to reduce one’s personal debt will go a long way. This website offers a debt consolidation service, but even if you don’t go with that, there is a lot of relevant and informative articles about managing one’s finances and debt. Some of the articles are well worth a look. Of course, there is the usual advice:
- Don’t spend more than you make.
- Pay off the debt with the highest interest rate first.
- Make more then minimum payments on debt payments.
- wean yourself down to one credit card.
- Know what “debt traps” are and how to avoid them.
It’s not very helpful that banks and government punish people with savings (low interest rates for savings, high for debts, high taxation, etc). It is time to take matters into our own hands with our own finances. Use the information readily available on the Net.
January 28, 2009
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