Greedy People: Bernie Madoff

When people’s minds turn to greed in general and greedy people in particular, Bernie Madoff is one name that quickly leaps to mind. Though he was sentenced to a staggering 150 years in prison in 2009, many people are not entirely clear on what he did and why he was sentenced so harshly. The truth of the matter is that Madoff performed fraud using an amount of money that is so high as to be nearly imaginary to most people. When understanding the greed of Bernie Madoff, it is first important to understand the basics of a Ponzi scheme. A Ponzi scheme relies on paying...

Credit Card Payoff Plan

The first step to paying off your credit cards fast is to create a credit card spreadsheet. There is plenty of software available to do this, such as Excel.   You can easily update this handy spreadsheet each month. You can print it out, carry it with you, or keep it on the fridge or on your desk. Just make sure it’s visible.   When you take this kind of “snapshot” of all your credit card debts and put them in one place, you can manage your credit card debt better. You don’t want your credit card bills lost somewhere in your home or...

Debt Consolidation Companies

  Just as you may be in tremendous amount of debt, there are tremendous amounts of debt consolidation companies ready to help you. All of them proclaim fast approval, easy payments and a promise of debt free living. So how does one pick the perfect debt consolidation company? Your best bet is to ask family and friends if they can recommend a debt consolidation company to you. Too embarrassed to let others know about your debt? Don't be! Practically all of America along with the government is in debt! But if you truly are embarrassed, lie and say you need...

Personal Debt Relief

  If you are reading this than you have probably borrowed too much, you're now in over your head, but don't despair; you are not alone. Millions of American's are in over their head in personal debt. You need to have a positive outlook on your debt recovery efforts. Being angry, depressed and feeling hopeless is not going to help the situation. If you feel you've hit rock bottom financially, that's fine, the only way to go next is up. Don't live in a fantasy — be honest about how much you make and what you're spending it on....

Bank of America Monthly Fee Axed

After a month of consumer rallying against Bank of America's $5 proposed monthly charge to customers who use debt cards, the bank has announced that it will abandon the fee. The reversal took place after more than 300,000 people signed an online petition in outrage against the fee. The online petition was initiated by 22-year-old D.C. resident Molly Katchpole on Change.org, requesting that the bank drop the fee. “The success of this campaign proves that ordinary people can successfully stand up to even the largest corporations,” Katchpole said in a...

Personal Debt in America

  Here are some horrific statistics of personal debt in America! Its clear American’s have trouble managing their personal debt. The total amount of consumer debt in the US is nearly $2.4 trillion in 2010. That’s $7,800 debt per person. Thirty-three percent of that debt is revolving debt (such as credit card debt), the other 67 percent comes from loans (such as car loans, student loans, mortgages and the like).  $51 billion worth of fast food was charged to credit cards in 2006, compared to $33.2 billion the previous year. We suppose...

Start Managing Personal Debt

  The majority of people expend countless amounts of cash without really thinking if they truly need what they are buying. Write down all the things you buy for just a month,  then at the end of month go through the list and see what you really didn’t need or even use. Minimize your belongings. Americans have too much stuff. If you don’t need it don’t buy it. It’s time to wake up and start saving for things you truly would like to acquire and be able to pay for those things in cash. Start preserving the money left over from your new...

Stash that Cash!

  How much income will you save, where will you put it, and how can you ensure it stays there? Begin by setting realistic goals, keep your spending in check, and make sure you get the most for your cash. It is clear that saving cash is one of those tasks that is so considerably much easier stated than accomplished. Many people will have numerous issues or unexpected expenses in their life. You could be going through a crisis this very moment and not have the capital to cope with it. You could face unexpected medical bills, vehicle repairs, home repairs or any other...