Online Resource for Reducing Debt

January 28, 2009 — Mrs. Mecomber

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.

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Thoughts About Retirement

July 23, 2008 — Mrs. Mecomber

Frugal people are some of the most financially secure people. Unfortunately, I started my frugality a little late. :S I wish I had gotten an earlier start. While I am not absolutely determined to retire at age 65, I do wish my husband and I had started saving money much, much earlier. Even if it was just to get that “dream house” or be able to afford a few weeks off together– it would have been lovely. Of course, it’s not too late! But I regret missing all that opportunity to do so. Oh well, it’s like I tell people who ask about my Social Security funds– my four children are my security in my old age.

How about you? I know I have a lot of frugal-minded and investment-minded readers. If you could do things differently, what would it be? Would you ever seek the advice of a financial consultant? My husband worked for several years as an insurance salesman, and got some training in financial consulting. It was not an easy job! It required lots of constant training, and keeping up-to-date with the latest financial tool, and the ups and downs of the stock market. I couldn’t imagine building a serious portfolio without the aid of a consultant or reputable company, like Northern Trust. The Northern Trust website is loaded with information, tips, market information from Reuters, and an assortment of personal and institutional service to build that financial security we desire. Believe me– trusting in the government for Social Security is NOT going to cut it in today’s world! I believe that Social Security will not even be available for my generation. Things like building one’s own private banking accounts for savings, and investments is the only way retirement will be tangible. Check out Northern Trust for more information about how to secure your financial future.

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