HubMob Weekly Topic: Getting Out of Debt

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  1. Princessa profile image81
    Princessaposted 11 years ago

    HubMob Weekly Topic: Getting Out of Debt

  2. vjaybrink profile image61
    vjaybrinkposted 11 years ago

    Here are the sequence of steps involved in getting out of debt

    1, Identify your total debt.

    2. Categories your debt according to its nature like housing, auto, credit card, Personal Loan

    3. Whenever you get money in your hand, pay-off debt in this order

    i) credit card (due to its high interest rate)

    ii) Personal Loan (pay-off and focus on getting loan only for your need and not for want)

    iii) Auto Loan & Housing Loan (pay-off slowly - eventually it will turn out to be an asset)

  3. profile image56
    rieomposted 11 years ago

    You made very good points.  But, I believe a big component to reducing personal debt is not to use your credit cards at all.  If you need an item or a service, then you need to save money for the purchase first.

  4. Pamela99 profile image90
    Pamela99posted 11 years ago

    Children need to begin to understand money starting at a young age

  5. Pamela99 profile image90
    Pamela99posted 11 years ago

    This article emphasizes the importance of teaching your children to manage money starting when they are very young.  The best ways to teach young children to learn to save money are explained. read more

  6. pakpub profile image74
    pakpubposted 11 years ago

    The question on everyones mind these days is how can I get out of debt? Are you paying too many bills and looking for a solution? Do you have money problems that revolve around debt? Millions of people live with debt that they cannot afford and it... read more

  7. Patty Inglish, MS profile image89
    Patty Inglish, MSposted 11 years ago

    Credit cards have become a financial horror in the United States in the 2000s and 2010s, because of increasing interest rates, service fees, late fees, and over-line penalties. At the same time, conspicuous consumerism in the media is urging the... read more

  8. authorfriendly profile image63
    authorfriendlyposted 11 years ago

    If you are a homeowner whose home is worth less than it might sell for, then short sale information may help you make a better choice when facing prospects like foreclosure  and the need to get out of debt with your home. read more

  9. Dorsi profile image87
    Dorsiposted 11 years ago

    Instant Visa prepaid credit cards - are they worth it? What are the benefits to using a credit card with your own money as collateral?
    In my case, having a Walmart prepaid Visa credit card has helped me reign in my expenses and helped me avoid... read more

  10. Anjili profile image57
    Anjiliposted 11 years ago

    The first step is to get down to working with a budget.

  11. oceansnsunsets profile image89
    oceansnsunsetsposted 11 years ago

    Keep more of your money, or at least give it to a worthy cause.   Public Domain Getting into perpetual debt is something no one tries to do purposefully, and yet it is a reality for many people.  Getting out of debt is hard for some, but it is a... read more

  12. melbel profile image93
    melbelposted 11 years ago

    Need a student loan but can't get a cosigner? Learn the steps to getting student loans without cosigners. read more

  13. Dorsi profile image87
    Dorsiposted 11 years ago

    Being a cosigner on a Mortgage? Should you do it? What are the benefits and risks?  In today's economy, as home prices drop and foreclosures increase, many people are looking to less traditional ways to fund the purchase of a new home or to... read more

  14. Sweetsusieg profile image79
    Sweetsusiegposted 11 years ago

    Whoo-hoo!!  It’s here!  I’ve heard about these but never got one before!  Hurry call the number before the offer expires, YEAH!!  Let’s go shopping!!     Hold the phone!  Put on the brakes!  Read the fine print!!!  Just because it says... read more

  15. Purple Perl profile image49
    Purple Perlposted 11 years ago

    College students are often seen spending too much at restaurants, movies, shopping arcades, etc. Some pay cash, others by wielding a credit card. Some parents opt to give their children an add-on card for which they expect their son/daughter to pay... read more

  16. Dorsi profile image87
    Dorsiposted 11 years ago

    Weddings are not cheap! This writer explains how to save money on your own wedding but have a beautiful day to remember. She gave her son and daughter-in-law a beautiful wedding on a shoestring budget. read more

  17. melbel profile image93
    melbelposted 11 years ago

    Learn the requirements for an FHA home loan and some tips on how to qualify. Getting a home loan through the FHA is easy if you follow these steps! read more

  18. Karanda profile image80
    Karandaposted 11 years ago

    Reviewing the family budget when times are tough can assist in getting debt under control. Keeping track of credit card balances is an important aspect of the budget. read more

  19. Loren's Gem profile image69
    Loren's Gemposted 11 years ago

    Credit cards are indeed very convenient. They’re not just easy to get but they are also very convenient to use - and a lot more safer to carry than cash.   Everyday, you are probably bombarded with various credit card offers from your mailbox,... read more

  20. smelloftruth profile image61
    smelloftruthposted 11 years ago

    One solution is to join a jungle survival training. This way it will teach you a lesson that every bit of what you have is essential so there is not need to buy more stuff where others are found wanting.

  21. soozeqsh profile image76
    soozeqshposted 11 years ago

    Use credit cards with caution.  If you have credit card debt stop using the cards until they are paid off.  Consider a home equity loan to consolidate debt if your credit cards and other outstanding debt is high so you can pay less interest.  Whether you choose to pay down your credit cards or get a home equity loan pay as much as you possibly can each month to pay off the debt.  Once paid, do not use a credit card unless you can pay it off each month.  That is the only way credit cards make sense.  Then, you can actually earn money or rewards for the money you spend.  I get a check every month for using my credit card and I do not pay any interest because I pay off the balance every month.  I am earning about $40.00 a month this way.

  22. soni2006 profile image74
    soni2006posted 11 years ago

    Today I will discuss the queries and problems associated with getting student loans provided by banks for higher studies abroad.
    Student loan rule in India says that,
      For loans up to 4 Lakhs INR, no security and/or collateral is... read more

  23. Karanda profile image80
    Karandaposted 11 years ago

    The dream of owning your own home is a distant vision for most. Mortgages that last a lifetime means the average family will be obligated to their bank every day of their lives. Paying more off your mortgage can save thousands of dollars over the course of the home loan and bring other benefits as well. read more

  24. soni2006 profile image74
    soni2006posted 11 years ago

    When it comes to getting the
    perfect details from the Internet, the best bet for a writer is to provide
    accurate step-by-step information. I learned this thing a few years back and
    applying this till today. So if you are searching for getting all... read more

  25. DzyMsLizzy profile image90
    DzyMsLizzyposted 11 years ago

    How did the current economic depression happen? Who is responsible, and what effect it is having on the average American. read more

  26. Chin chin profile image89
    Chin chinposted 11 years ago

    This hub answers the question "How does a car title loan work?" It gives an honest opinion whether or not people should turn to car title loans as a means of having quick cash. read more

  27. Chin chin profile image89
    Chin chinposted 11 years ago

    This hub is a presentation of a biblical perspective on the money and finance. Find key biblical principles relevant to finance management including areas of giving, spending, saving and investing. read more

  28. Chin chin profile image89
    Chin chinposted 11 years ago

    This article is shares about the reasons why car buyers should get pre-approved car loans. Also, it gives some guidelines as to how to get pre-approved car loans. read more

  29. profile image0
    Sierra Mackenzieposted 11 years ago

    Did you know that a 3 percent increase in inflation annually over an extended period of 14 years will result in 50 percent increase in prices?  You can fight inflation by shopping to beat it.

    When inflation hits the grocer's shelves we watch prices rise on the frozen and canned vegetables.  But even though inflation is affecting the vegetable processing industry, it will not effect what you buy fresh or grow yourself. A wise shopper will always find alternatives to inflated prices.  Learn where the bargains are and what is in season at the super market.

    Train yourself to comparison shop.  A comparison shopper knows where the best bargains are located, so when a particular item is needed in the household, that is where you head to save money.

    Comparison shopping can be done while shopping for needed items.  Say you are shopping for a pair of pants and make several stops at different shops in a mall to get the best deal.  As you walk through the shops, note the prices of other items such as shirts or blouses that are displayed near the pants, and compare the prices between shops.  Don't compare the sale price, but the regular retail price.  Also check the mark down racks to learn where the best bargains can be found, so some time in the future when you need a shirt or blouse you can return to the lowest priced shops.

    This also carries over into grocery shopping as well.  Sometimes a store will have reasonable prices on quality meats and dairy products while just across the street the prices are better on frozen items and produce.  Shop accordingly.  Purchase your meat and dairy products at one store, then cross the street and purchase frozen foods and produce.

    There are also bargain outlets that carry damaged freight, dented cans, discontinued merchandise.  Learn where these are located in your area and shop there first.  Then with a list in hand, shop at regular retail outlets.

    Save money by shopping less frequently.  If you change from grocery shopping once a week to shopping once a month, you will cut your food bill considerably.  Sticking to a list will get you in and out of the store with minimum cost.  To do this you need to keep a supply of staples on hand.

    Never go shopping without a list, then buy only those items on the list.  This is of primary importance when you find you have to visit a store between your monthly shopping trips.  Not only will this cut down on the number of trips to the store, but it will save time, gasoline, and money.

  30. profile image51
    Information Here!posted 11 years ago

    I've just published an interesting hub on this week's weekly topic! … hink-About

  31. soni2006 profile image74
    soni2006posted 11 years ago

    There are several banks in India,
    which provide auto loans at attractive interest rates, but before applying for
    a car loan in India, you need to know about whether you are eligible for an
    auto loan or not. So below are a few common tips to note... read more

  32. anujagarwal profile image60
    anujagarwalposted 11 years ago

    These days, builders are providing options to book flats even before construction. It is a win-win situation for both consumers and the builder, as builder will get the sufficient funds to construct flats and consumers will get the flat in pretty decent rates. read more

  33. travelespresso profile image68
    travelespressoposted 11 years ago

    Buying a home and getting a
    mortgage is probably the biggest financial decision many of us ever make with
    our personal finance and along with the mortgage insurance such as mortgage
    life insurance cover is often recommended.

    This article... read more

  34. LensMan999 profile image60
    LensMan999posted 11 years ago

    Every governments need fund for
    operation.  Starting from the construction and maintenance of roads till
    the remuneration for the officials, government needs fund.  Where do these
    funds come from?  As they are keep on spending on one thing or the... read more

  35. travelespresso profile image68
    travelespressoposted 11 years ago

    Buying a home and taking out
    a home loan is probably the biggest finance and money decision any of us make.  Making such a large purchase usually necessitates getting a mortgage or home loan to make up the shortfall between the
    deposit we have... read more

  36. alekhouse profile image76
    alekhouseposted 11 years ago

    I run a small business. Most of my friends and colleagues are small business owners. Every single one of them is in debt. There is no respite from this. According to economists, small business owners have to learn to live with debt. I've had a small... read more

  37. soni2006 profile image74
    soni2006posted 11 years ago

    HELOC loans are normally taken
    for construction. For instance, you get approval for $100,000 and get a
    withdrawal period of 5 years and then you can withdraw any amount within the
    approved amount any time. You will pay interest, only for the amount... read more

  38. authorfriendly profile image63
    authorfriendlyposted 11 years ago

    There is life after bankruptcy. Learn to rebuild your credit after bankruptcy, by taking small loans, opening a new bank account, getting a budget going, and making sure your utility and rent payments are counted in your credit score. Shows how to take these steps. read more

  39. melbel profile image93
    melbelposted 11 years ago

    Learn the steps to properly filing bankruptcy in Indiana including tips on which chapter you should file and why... read more

  40. melbel profile image93
    melbelposted 11 years ago

    The complete guide to the French tax system from who pays taxes, where the money goes, when to pay, and a few strange facts about taxes in France! read more

  41. Denise Handlon profile image85
    Denise Handlonposted 11 years ago

    Have you, or someone you know, considered bankruptcy?  Here are some important facts when dealing with this financial crisis. read more

  42. anujagarwal profile image60
    anujagarwalposted 11 years ago

    To run a country and to provide infrastructure, government need funds and they take it in the form of taxes. The tax government takes should be justified and there should not be double or multi taxation imposed on citizens. read more

  43. soni2006 profile image74
    soni2006posted 11 years ago

    Short formula to help you find out what percent of your income you should save and how much to spend. Cheers.... read more

  44. Karanda profile image80
    Karandaposted 11 years ago

    Just because you are up to your ears in debt, bankruptcy need not be the only option. Here are some alternatives to look at before taking the last resort seeking bankruptcy, a condition that brings with it a stigma that will follow you for many years to come. read more

  45. anujagarwal profile image60
    anujagarwalposted 11 years ago

    It is always better to first pay off your loans and then start investing to grow your money. Without loans on your head, you will feel relaxed and later it will be easy for you take fresh loan if required. read more

  46. Princessa profile image81
    Princessaposted 11 years ago

    French taxes are higher than American taxes and are among the highest worldwide. If you are a French resident (you spend more than 183 days a year living in France) Tax is also collected on income earned worldwide read more

  47. ShawnS. profile image59
    ShawnS.posted 11 years ago

    Start making regular payments to your creditors, even if you can only pay them a small amount. If your creditors see that you are committed to sorting out your debt, they will give you some leeway while you figure out your long term repayment strategy.


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