Archive - September, 2007

I LOVE teaching!!!

The Financial Freedom Class started tonight at NewSpring!  I am so freaking pumped up that I cannot stand it!!!

165 people showed up to participate in a five week class that is about FINANCES!!!  This is not about football, scrapbooking, or the kids.  This is about FINANCES!!!  And people were PUMPED up to be there!!!

The first session of this class is all about the importance of having a plan.  In one part of this teaching, I have people take five minutes to write out their hopes and dreams.  One word describes this – INCREDIBLE!!!  I love watching the process people go through to dream.  For the first couple of seconds, it appears that they have totally forgotten how to dream – then they start by writing one sentence.  The next thing they know, it looks like they have the beginnings of a good book!  The dreams start pouring out!

When people KNOW what their God-given hopes and dreams are, it helps them make the decisions that will be necessary to get their finances in order!

I love seeing people "get it".  I love helping them accomplish far more than they ever thought possible!

To all of the class attendees – have fun putting together your budgets!  If you have any questions, feel free to contact me!!! 

I can't wait for next week!!!  Can I just teach it tomorrow?!!!!!

Read Joe's recent blog posts

Subscribe to www.JOESANGL.com

As of 9/19, there are 11 active links that remain for the $25 bonus for signing up for an ING on-line savings account with at least $250.  Click HERE to set up your 4.30% FDIC-insured on-line savings account.

Budget-Crusher Snake Drawing Available On Ebay!

After an unbelievable quantity of requests, I have posted my snake drawing for sale on Ebay.  I will donate all proceeds from this phenomenal artwork to NewSpring Church's GameTime.

You can view the artwork and place your bid on Ebay HERE.

When you look at the listing on Ebay you will note the SUBJECT I have selected to list this artwork under is "Music, Instruments" in the STYLE of "Pop Art".

Under the description, I have stated that the item will be:

  • Sold as is
  • Possibly wrinkled
  • The snake may or may not still be sticking its tongue out at you
  • The "Christmas" animal may or may not be dead yet
  • The snake may or may not smile at you – it depends if it likes you or not
  • This is a SNAKE – not a dinosaur!

So let the ENORMOUS quantity of bidding begin!

By the way, I wouldn't be surprised if this artwork sold for $1,000,000 or more.

Read Joe's recent blog posts

Subscribe to www.JOESANGL.com

Do you live near Anderson, SC?  Sign up for the Financial Freedom Class at NewSpring Church – class begins TONIGHT, September 19 and costs only $20 per household – childcare provided!  You can sign up and pay on-line HERE.

Financial Learning Experience

I am on a crusade to help others accomplish far more than they ever thought possible with their personal finances!  As part of this crusade, I take the Financial Learning Experience on the road.

In the past year, I have been able to take the Financial Learning Experience to the following places:

5 Point Fellowship – Easley, SC

Barefoot Community Church – North Myrtle Beach, SC 

Crossroads Church – Douglasville, GA 

Oak Leaf Church – Cartersville, GA 

Word of Faith Christian Ministries – Dayton, OH 

NewSpring Church – Anderson, SC 

For those of you who have participated in a Financial Learning Experience, has it impacted your life?  Would you take a moment to share with us all what has happened as a result of your attending the FLE?  That would be AWESOME!!!

This fall, the Financial Learning Experience has set plans to go to Georgia, North Carolina, and South Carolina.  Where else will it be?  Stay tuned!

I am on a crusade to help others with their finances!  I LOVE having opportunities to take the Financial Learning Experience on the road.  If you are interested, contact me HERE.

Read Joe's recent blog posts

Subscribe to www.JOESANGL.com

Have you opened your ING Direct 4.50% 4.30% on-line savings account yet?  Only 14 more links remain for free $25 when you open an account and fund it with at least $250.  NO MORE "FREE $25 LINKS LEFT" – BUT you can still get a great account that is paying 4.20% interest with a minimum balance of $1 by clicking the link at the top right of this page or by clicking HERE.

Do you live near Anderson, SC?  Sign up for the Financial Freedom Class at NewSpring Church – class begins TONIGHT, September 19, and costs only $20 per household – childcare provided!  You can sign up and pay on-line HERE.

Eliminate Budget-Crushing Expenses

I love writing the word "CRUSHING".  It is such a strong word.  It also describes just how it felt when my budget used to encounter a huge non-monthly expense like Christmas!

We would not save a dime all year for Christmas and then realize on December 1st that it was probably time to start saving for it!  The December budget would be CRUSHED so that we could pay cash for Christmas presents and avoid debt.  I would feel like a snake who just ate an antelope.  I would lay around saying, "I can't believe our budget ate the whole Christmas bill."

It was NOT fun!

Well, I found out how to eliminate these budget-CRUSHERS!  Ready for the answer?  Here it is.  PLAN for them and save toward them monthly. 

Look at the example below.  There are four budget-crushing non-monthly expenses for this family.  If they save $358 every single month, the money will be there when it is needed!  Yes, it will tighten up the budget on a month-to-month basis, but it sure smooths it out too!  The budget-crushing months filled with ramen noodles can be banished forever!

 

If you have a mortgage with an escrow account, think about it this way.  Do you ever worry about paying for your property taxes or homeowner's insurance?  Why?  Because they collect the taxes and insurance from you on a monthly basis!  That way, there is no concern that the taxes and insurance will be paid on time.

The day that Jenn and I started to do this was the day that our budget became a whole lot easier to stick to! 

I have created a Monthly Escrow Account Form (Excel) that you can fill in to develop your own escrow account!  It is located in the TOOLS page along with a number of other very useful items!

Read Joe's recent blog posts

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Time To Encourage Someone

I am on a crusade to see people win with their money!  I want to see people accomplish far more than they ever thought possible in their personal finances.  Why?  Because when people gain control of their finances, they are freed up to pursue exactly what God has placed them on this earth to do – regardless of the income potential!!!

Today, I want to encourage a fellow blogger – JW.  JW Thornhill is on his way to becoming debt-free.  He has faced many obstacles on his journey, but he has eliminated $12,000 of debt in the past five months!

In fact, JW has a daily blog where he talks about his family's journey toward debt freedom.  By my best estimation, I believe that JW and his family will be living the debt-free lifestyle in less than 24 months.

The calculated numbers don't show debt freedom occurring that soon, but I am telling you that I have seen it happen time after time.  When people have a plan and WILL NOT BE DENIED, the debt just seems to vaporize!

JW – you can do this!  I believe in you! 

Here is my challenge to the readers today – Would you visit JW's web site and leave him a note of enouragement?  Tell him that you were sent by Joe.

Read Joe's recent blog posts

Subscribe to www.JOESANGL.com

Do you live near Anderson, SC?  Sign up for the Financial Freedom Class at NewSpring Church – class begins on Wednesday, September 19 and costs only $20 per household – childcare provided!  You can sign up and pay on-line HERE.

How much interest are you being paid?

I've had five friends sign up for an ING Direct on-line savings account that is currently paying 4.50% interest!

That is WAY better than the 0.25% interest (yay – yawn) that my money was earning in a savings account!

I still have twenty open links available to sign up and receive $25 FREE from ING Direct – just for funding your account with at least $250!  The entire process takes less than 10 minutes.

You can obtain an active referral link HERENO MORE "FREE $25 LINKS LEFT" – BUT you can still get a great account that is paying 4.20% interest with a minimum balance of $1 by clicking the link at the top right of this page or by clicking HERE.

Read Joe's recent blog posts 

Do you live near Anderson, SC?  Sign up for the Financial Freedom Class at NewSpring Church – class begins on Wednesday, September 19 and costs only $20 per household – childcare provided!  You can sign up and pay on-line HERE

 

Horrible Advice of the week

In this article on Yahoo! Finance, it talks about the ratio between the cost of a new car and a family's income.

One alarming fact is that it takes 25 weeks of a person's income (BEFORE taxes) to purchase a new car.  If you add in an overall tax rate of 25%, it really takes 33.3 weeks of a person's income AFTER taxes to pay for that car.

That fact alone helps cement the fact that I won't purchase a new car.  Throw in the fact that it drops in value about 60% in the first four years, and the cement is dried, hardened, and sealed!

Anyway, as I read further in the article, I happened upon advice from a financial planner where he says the following:

"If someone says 'I always wanted a BMW and I'm 42 and I never had the chance to get one,' we're not going to try and talk them out of it," Lee says. "But we'll take them through the process and help them decide."

You know what he is really saying?  He is saying, "I am going to cater to the spoiled-brat 42-year old who has been managing his money without a plan and now wants a BMW because I'm 42, and I want one."

Go ahead and finance the BMW, Mr. I'm 42, and I Want One.  I will be here SAVING and INVESTING my money, and should I want a BMW I'll just go pay cash for one.

SHHHEEEEEEESH!

Read Joe's recent blog posts 

Do you live near Anderson, SC?  Sign up for the Financial Freedom Class at NewSpring Church – class begins on Wednesday, September 19 and costs only $20 per household – childcare provided!  You can sign up and pay on-line HERE.

Looking for additional Personal Finance Resources?  You can obtain free tools by clicking HERE and purchase books/materials by clicking HERE.

 

Pay Off Debt – Part 05

In this series of posts, I am hoping to equip your family to become debt-free!  Jenn and I became debt-free in just 14 months by following this process, and our lives will NEVER be the same!  We have been freed up to pursue exactly what we were put on this earth to do – regardless of the income potential!

Previous Steps:

Step 1 – Understand WHY you want to become debt-free!  You greatly improve your chances of becoming debt-free when you understand the reasons that you are making sacrifices in lifestyle!

Step 2 – List your debts  If you don't know how large the giant is, it makes it really difficult to understand the overall situation!

Step 3 – Calculate your Debt Freedom Date  When you have put together your Debt Freedom Date calculation, print it out!  Put it on the refrigerator!  As you pay off each debt, draw a big line through it!  You will not believe the conversation this will start with your family and friends as they come over to visit (you won't be able to afford to go out to each near as much!)

Step 4 – Establish Accountability  If married, hold each other accountable.  If unmarried, have someone who has won with their own money and has your best interest in mind.

Step 5 – Secure Your Debt Freedom – Save at least $1,000 before attacking your debt!

I have seen so many people calculate their Debt Freedom Date and get all fired up about attacking their debt.  They sell everything and everyone in sight.  They can't shut up about getting out of debt.  It is all they talk about with their spouse.  They have even sold their Clay Aiken AND Celine Dion albums!

Everything goes great for two months.  They smile every time I see them.  "This is awesome", they tell me enthusiastically.

Five months later, they avoid me.  When I ask them what is up, they say something like, "Well, Johnny broke his arm and the emergency room bill and doctor bills cost me $1,500.  I had no savings so now I am right back where I was – falling back into more debt."

How demoralizing is it to attack debt so fervently and then have to go right back into debt?  It is AWFUL!  Don't do that!  Instead, save up at least $1,000 into an emergency fund before attacking your debt and THEN you can attack your debt all you want!

What happens if you have an emergency pop up while you are attacking your debt?  You can use the emergency fund to cover the expense.  To replenish the emergency fund, slow down on the debt pay-off plan until you have the $1,000 back in the emergency fund!

By the way, if you have a house, kids, or more than one car I highly recommend $2,500 for your emergency fund.

Secure your debt freedom plan with your emergency fund!

Congratulations!  You now know the process that Jenn and I used to become (and stay!) debt-free!  You are now equipped!

Question of the Day:  What are you going to do now that you are equipped to become debt-free?

Read Joe's recent blog posts

Subscribe to www.JOESANGL.com

Pay Off Debt – Part 04

In this series of posts, I am sharing the process that Jenn and I followed to become debt free in 14 months.  You too can become debt-free!  Read on!

Here are the steps that have been shared so far:

Step 1 – Understand WHY you want to become debt-free!  If you aim at nothing, you will hit it every single time!  You are much more likely to become debt-free when you KNOW the reasons you are making the sacrifices!

Step 2 – List your debts  You can't slay the dragon until you have faced the dragon and understand how many heads it has!

Step 3 – Calculate your Debt Freedom Date  This number lets you know when you will actually achieve debt freedom!  Most people can become debt-free (except for the house) in 18 to 36 months!

Step 4 – Establish Accountability

The strongest amongst us can still fall to temptation!  You could be making fantastic progress toward debt-freedom and then a new truck pulling a new boat passes you on the road.  If you are not careful, you will also be pulling a new truck and boat down the road!

There are two key ways to ensure you are held accountable to your goal of debt-freedom!

A.  If married, work together with your spouse.  If unmarried, have someone you trust (someone who has won with their money) hold you accountable!

There is incredible power when you work together with your spouse toward debt-freedom!  It is a common goal that will unify your marriage and cements your commitment to managing your resources together.

I have also found that when I have a bad case of the "I Wants" and "I Gotta-Have", Jenn does not.  She shuts me down!  Then, when Jenn gets a bad case of "I Really Want This", I do not.  I shut her down!  Why?  Because we are not doing debt!  We are THROUGH with it!!! 

B.  Plan your spending every single month!

Planned money goes farther than unplanned money!  Every single month, Jenn and I sit down TOGETHER and spend every single dollar on paper before we are paid.  Don't miss that – that was good!  Every.  Dollar.  On.  Paper.  BEFORE.  We.  Are. Paid.

From the day that Jenn and I started budgeting, we have not incurred any new debt.  In fact, we became debt-free (minus the house) in just 14 months!

I can tell you this.  I HATED the idea of budgeting and now all I do is yell from the mountaintops about how important it is and how EZ it is to budget!  There are FREE budget forms that are available HERE.  Use one of them to start your journey to debt freedom!

Your budget will hold you accountable.  I wouldn't be surprised if it helped you free up $200 – $500 per month to attack your debt even harder (it did for me!).

Question of the Day:  Folks who have already become debt-free.  How did accountability help you stick to your Debt Freedom Plan?

Read Joe's recent blog posts 

Do you live near Anderson, SC?  Sign up for the Financial Freedom Class at NewSpring Church – class begins on Wednesday, September 19 and costs only $20 per household – childcare provided!  You can sign up and pay on-line HERE.

Looking for additional Personal Finance Resources?  You can obtain free tools by clicking HERE and purchase books/materials by clicking HERE.

Pay Off Debt – Part 03

In this series of posts, I am sharing the process that Jenn and I used to become debt-free in 14 months.  I want you to become debt-free!  When you are debt-free, you are freed up to go do exactly what you have been put on earth to do – regardless of the income potential.  You can do this!

Let's review the steps so far:

Step 1 – Understand WHY you want to become debt-free!  People who have a plan outperform those without a plan.  When you clearly understand WHY you are doing this, you are much more likely to make the sacrifices necessary to achieve debt freedom.  Hopefully, you have LISTED the hopes/dreams/plans you have for your life.

Step 2 – List your debts  If you do not know who you owe and how much you owe them, it becomes very difficult to put together a winning plan!  You can print out a debt list sheet HERE.

Step 3 – Calculate your Debt Freedom Date

It is really very simple to calculate your Debt Freedom Date.  You need two numbers to calculate your Debt Freedom Date – Total Debt Owed and Total Monthly Payments.   I pretend that there is actually only one debt – with one big balance and one big monthly payment.

Look at the sample debt list below.  This family will be debt-free in just 33 months!

 

In the TOOLS section, there is a free tool called the Debt Freedom Date Calculator.  If you enter your debts and monthly payments into this tool, it will calculate your Debt Freedom Date for you!  If you don't have Microsoft Excel, click HERE for a web-friendly version.

Question of the Day:  How many months until you are debt-free?

Read Joe's recent blog posts 

Do you live near Anderson, SC?  Sign up for the Financial Freedom Class at NewSpring Church – class begins on Wednesday, September 19 and costs only $20 per household – childcare provided!  You can sign up and pay on-line HERE.

Looking for additional Personal Finance Resources?  You can obtain free tools by clicking HERE and purchase books/materials by clicking HERE.

Pay Off Debt – Part 02

In this series of posts, I want to equip you to become debt-free!   Jenn and I became debt-free in 14 months by following this process, and I can tell you this – there is NOTHING like living life without the trappings of debt!

Let's review the first step.

Step 1 – Understand WHY you want to be debt-free!  If you don't have a clear understanding of why you want to become debt-free, you will have a very tough time sticking to this effort.  When you know WHY, you are able to stand firm against the temptation to acquire more debt.

I hope that you have taken the time to write out your hopes/plans/dreams for your life.  Again, I cannot overstate the importance of writing this out on paper!

Step 2 – List your debts

During financial counseling sessions, it is a guarantee for any person who has debt that I will calculate their debt freedom date.  You should see people's reactions as I put together a list of their debt!  Their reactions relay to me the true facts of debt.  Here are some very common reactions that I see/hear.

  • Hiding their eyes
  • "Oh no!"
  • "I've never added it up."
  • "This is scary."
  • Moving to a defensive position as if to guard themselves against the debt
  • Turn their head so they don't have to look at the debt total

I KNOW that it can be scary to total up debt.  The mere fact that it is so scary tells me two things:

1.  People do not like debt.

2.  People have not been paying attention to their finances and do not have a well-defined plan for their life.  Otherwise, they would not have incurred most of the debt.  It is literally ROBBING them of their financial future!

Here is what I say to them – "If you don't know how many heads the dragon has or how large the dragon is, how can you effectively defeat it?"

It is time to slay the dragon.  Use THIS FORM to prepare a well-organized list of your debt.

Question of the Day:  Why is it so scary to total up debt?

 

Read Joe's recent blog posts 

Do you live near Anderson, SC?  Sign up for the Financial Freedom Class at NewSpring Church – class begins on Wednesday, September 19 and costs only $20 per household – childcare provided!  You can sign up and pay on-line HERE.

Have you subscribed to www.JOESANGL.com?  It is easy to do so.  Just click HERE!

Looking for additional Personal Finance Resources?  You can obtain free tools by clicking HERE and purchase books/materials by clicking HERE.

Pay Off Debt – Part 01

I have found that a vast majority of those who sign up to attend the Financial Freedom Class or the Financial Learning Experience are living paycheck-to-paycheck AND carrying debt.  In fact, statistics from surveys I have recently conducted show that 72% of those attending my classes are living paycheck-to-paycheck.  Of those 72% living paycheck-to-paycheck, 24% are BEHIND on payments.

Only 3% felt that they are doing well financially.

This is a NATIONAL problem.  No matter where I go, I see the trappings of debt – marriages failing, stress, depression, and hopelessness.  And all of this is happening in the wealthiest country on the planet!  This is entirely unacceptable!

So, as part of my crusade to help America become debt-free, I am going to share the process I followed to become debt free.

Before I get started, I want to ask you these questions.

  • Would you join me in my crusade?
  • Would you share this with others?
  • Would you commit to become debt-free?

I WANT YOU TO BECOME DEBT-FREE!!!  It changes your life!  It enables you accomplish far more than you ever thought possible with your personal finances!  It allows you to go do exactly what you were put on earth to do – regardless of the income!

Step 1 – Understand WHY you want to be debt-free!

I believe this is the most important step in becoming debt-free!  In the hundreds of financial counseling sessions I have held, it is amazing how many people do not have a plan for their lives.

I ask them, "Why do you want to win with your money?"  and they stare at me like I am from outer-space.

"Why?", they stammer back at me.

Seriously, I believe that it is the first time that many of these people have ever seriously thought about what they want to accomplish with their lives.  As a result, they are bumbling through life just "trying to make it through the day".

What a miserable way to live!

I cannot overstate this fact – IF YOU AIM AT NOTHING, YOU WILL HIT IT EVERY SINGLE TIME!

When Jenn and I wrote down our hopes and dreams on paper, it opened our eyes to the fact that our money management (or lack of) was literally ROBBING us of our future!  We wanted to move back to Anderson, SC to take a job that paid way less than what we were making, but every single dinner at Outback was robbing us of that opportunity.  Every single debt payment went off to make the bank wealthy while at the same time robbing us of our God-given dreams!

That made me MAD!  It made me FURIOUS!  It made me realize how incredibly STUPID I was to be managing our money so crazily!  I had $755 PER MONTH going out to pay car debt, credit card debt, and student loan debt.  Add in the stupid house payment, and I had over $1,700 per month running off to make the bank wealthy!

By writing out our hopes/dreams on paper, Jenn and I were motivated to manage our money differently.  It caused us to view debt differently.

Are you ready to get rid of your debt?

Take your first step today by print out THIS FORM and filling out your own hopes/dreams.  If you are married, you need to do this separately and then take time to discuss it with each other.

By the way, one of my hopes/dreams is for you to become debt-free!

Question of the Day:  What has kept you from attacking your debt?

 

Read Joe's recent blog posts 

Have you subscribed to www.JOESANGL.com?  It is easy to do so.  Just click HERE!

Looking for additional Personal Finance Resources?  You can obtain free tools by clicking HERE and purchase books/materials by clicking HERE.

 

What I have done with my finances recently

As you might imagine, I am inclined to pay attention to my finances on a regular frequency.

Here are some recent things I have done financially that will help me out in the long run.

  • I opened an ING Direct on-line FDIC-insured savings account that is paying 4.50% interest.  By opening this account with $250, ING Direct gave me $25!  The whole process took less than 10 minutes and I had $25 in free money in my account!  If you have $250, you also can get $25 FREE by clicking HERENO MORE "FREE $25 LINKS LEFT" – BUT you can still get a great account that is paying 4.20% interest with a minimum balance of $1 by clicking the link at the top right of this page or by clicking HERE.
  • I invested the rest of my savings into a HSBC on-line FDIC-insured savings account that is paying 5.05% interest!  Of course, I took the free $25 from ING Direct by setting up a $250 account with them, but for the rest of my savings HSBC was the choice.
  • I took down nearly every stupid pine tree in my yard.  They either fall down on their own OR I could take them all down.  The tree guy cut a deal with me to cut down 9 large pine trees for $200 if he could have the logs.  Jenn and I had to clean up the limbs (which required manual labor on my part).  I went ahead and cleared out a bunch more trees and scrub brush as well.  I believe this was a much cheaper option than waiting for each tree to fall on its own and letting it damage my house and my neighbors' houses.
  • I organized my recently received finance and insurance documents.  I HATE being disorganized with my finance and insurance papers!  In fact, I think disorganization is why many people end up being charged too much on insurance claims and bank fees.  It took about three hours to organize about six months of documents.  Most of that time was me actually taking the time to read them!!!
  • I prayed.  Seriously, prayer is powerful!  God is very interested in the way you manage the money He has provided you.
  • I increased contributions to my Health Savings Account for my HSA medical insurance.  By the first of the year (when a new deductible year starts), my HSA will have an entire year's deductible saved in it.  This keeps me ahead of the curve.  It is almost like I have a plan!!!

 

Read Joe's recent blog posts 

Another story of life-change was released on the podcast today!  Have you listened to the Podcast from Joe?  To subscribe to the podcast using iTunes, click HERE.  If you do not have iTunes, you can download an mp3 by clicking HERE.

Looking for additional Personal Finance Resources?  You can obtain free tools by clicking HERE and purchase books/materials by clicking HERE.

 

T-Shirt Ideas

I have been going through some T-shirt ideas and wanted to try them out on you all.

In the Uplifting, Positive category … 

  • "I Was Broke …  Now, I'm Not!"
  • "It's EZ to win with money"
  • "Been there.  Done that.  Now I can afford this T-Shirt." on the back of the t-shirt with "Financial Learning Experience" on the front of it.
  • "$100/mo = $1,176,477"
  • "I – O = EZ"
  • "Clay Aiken helps me budget"
  • "I have been stapled to the wagon at the Financial Learning Experience."

In the Demoralizing, Demeaning category …

  • "I Don't Take Financial Advice From Broke People" 
  • "I Choose To Be Broke"
  • "I have an incurable case of stupid-itis"
  • "I ate my kid's inheritance."  (After all, dining out at restaurants is a huge drain on a family's economy)
  • "I'm broke, but I drive a really nice car."
  • "I don't care how good Joe's wagon stapler is, I will still fall off."
  • "Budgeting – Why bother?  All this stuff that Joe rails about is crap anyhow."
  • "Celine Dion helps me budget"
  • "I – O = The Big Negative    Thank you Capital One!"

Read Joe's recent blog posts 

Another story of life-change was released on the podcast today!  Have you listened to the Podcast from Joe?  To subscribe to the podcast using iTunes, click HERE.  If you do not have iTunes, you can download an mp3 by clicking HERE.

Looking for additional Personal Finance Resources?  You can obtain free tools by clicking HERE and purchase books/materials by clicking HERE.

Credit Cards

I love credit card offers.  They are packaged so well.

  • Slick-looking logos and card designs
  • Use of flattering language like "pre-approved", "Platinum Credit Card Benefits", "Financial Benefits", and "Invitation"
  • Urgency – "This is a limited-time offer!"  They fail to mention that the time is only limited by Jesus' return to Earth (could be tomorrow – maybe they are right!)
  • "Fixed APR"

Sounds great, right? WRONG!

Let me share some direct quotes from the same offer.

  • "We reserve the right to change the account terms for any reason"  In other words, "Dear Customer – You have NO rights!"
  • "We allocate payments at our discretion.  This means, for example, we will allocate payments to pay off your 0% introductory APR balances before higher APR balances."  In other words, "Dear Customer – We are going to stick it to you!"
  • Regarding "Fixed APRs", the small print states "The APRs for this offer are not guaranteed; APRs may change to higher APRs, fixed APRs may change to variable APRs, or variable APRs may change to fixed APRs.  Any changes will be in accordance with your account agreement."  What?  A "Fixed" APR is not fixed?!!!  And regarding the fact that changes will be in accordance with the account agreement – the agreement is that the credit card company can change the account terms for any reason!

Read Joe's recent blog posts 

Another story of life-change was released on the podcast today!  Have you listened to the Podcast from Joe?  To subscribe to the podcast using iTunes, click HERE.  If you do not have iTunes, you can download an mp3 by clicking HERE.

Looking for additional Personal Finance Resources?  You can obtain free tools by clicking HERE and purchase books/materials by clicking HERE.

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