Debt, Credit Card & Consolidation Current News Digest

Pressemeldungen.at (Pressemitteilung)

Money Management and Student Debt Consolidation Pressemeldungen.at (Pressemitteilung), Austria by W. Darren There is but one lesson that every college student needs to remember in relation to money: everything you do has its own consequences. Money spent poorly (shopping splurges, unnecessary purchases, no savings at all) can be tantamount to a …

If it sounds too good to be true, it probably is. This old adage perfectly encapsulates the litmus test that clients should use when determining whether to work with any given debt consolidation company. Any agency that promises to have you out of debt in an instant or guarantees that (for a small fee) they can erase your money owing altogether is only out to get one thing; your cash.

Making an appointment to speak to a debt professional about your financial situation is a good idea, and it is something that can help to put you at ease about your financial future. But there are many choices out there for financial professionals and the question remains as to what is the best way to go about securing a debt consolidation loan.

In a couple months, my wife and I will be taking an extended vacation to Europe. It’ll be a fantastic trip, one we’ve been looking forward to for months, and with the dollar strengthening and the economy across the world weak, we figured we could take advantage of lower prices to get some traveling done.

As I did a few years ago when we went to China, I wanted to confirm that my Capital One card still had the lowest foreign transaction fees. Fortunately, USA Today did all the leg work for me and has an updated list of foreign transaction fees by bank (Discover is excluded because it’s not accepted internationally, but they charge 0% as well):

1. American Express: 2.7%
2. Bank of America: 3%
3. Barclaycard/Juniper: 2-3%
4. Capital One: 0%
5. Citibank/Diners: 3%
6. Diners Club: 3%
7. HSBC: 3% (most)
8. JP Morgan Chase: 3% (most)
9. US Bank: 3%
10. USAA: 1%
11. Wells Fargo: 3%

Here’s the same list, reordered based on percentage charged:

1. Capital One: 0%
2. USAA: 1%
3. American Express: 2.7%
4. Barclaycard/Juniper: 2-3%
5. Bank of America: 3%
6. Citibank/Diners: 3%
7. Diners Club: 3%
8. HSBC: 3% (most)
9. JP Morgan Chase: 3% (most)
10. US Bank: 3%
11. Wells Fargo: 3%

Looks like Capital One retains the crown for the best international credit card. Which reminds me, I should probably make some small charges to it so it doesn’t get closed on me!

Lowest Foreign Transaction Fee

Begin your search by looking for a company that is in good standing. They should have a good rating with the better business bureau, or not have a large number of online complaints.

Matt Bell is a personal finance writer in Chicago who ran into financial difficulties early on in his adult life and, in turning it around, used his experiences and knowledge to try to help others who may have gotten themselves in a similar situation. His professional career began as a radio journalist, having been featured on NPR, and Money Strategies for Tough Times is his second book, his first being Money, Purpose, Joy.

One of the unique angles about this book is that it incorporates religion, specifically the Bible, very heavily throughout its sections. While I’m not a very religious person, I can’t argue with Bell’s assertion that “Tough times call for timeless principles, and the principles taught in God’s Word have stood for thousands of years.” Religion, whether it’s Christianity, Buddhism, atheism or any other faith; is an integral part of our lives and it’s not surprising to see a book drawing on faith to overcome secular financial challenges. We often turn to religion in the darkest of times.

From an advice standpoint, it does a pretty good job. It lives up to its title of offering good strategies during a difficult financial time, with large sections of the book devoted to overcoming debt and how to handle job loss. With hundreds of thousands of workers losing their jobs each month, it’s not surprising that the book focuses so much on debt, loss of income, and how to intelligently tap into your reserves. As you would expect, there are even sections devoted to bankruptcy, rebuilding your credit, and the creditors you should never stiff (friends & family). Finally, as if offering a light at the end of the tunnel, there’s a smaller section devoted to sound financial strategies that are smart anytime.

Overall, I think the book has good, albeit somewhat pedestrian, information. The true value is in how Bell ties in the Bible and if you are someone who responds favorably to that, then this may be the right book for you. If you’re turned off by linking finances and religion, this book will be less valuable to you. I can guarantee you one thing, if you flip through it in the library or bookstore, you’ll know within minutes whether its right for you.

Review: Money Strategies for Tough Times by Matt Bell

Imagine it’s Monday morning. Over the weekend, you had a major argument with your partner (and you’re both still sulking), your alarm clock fails to go off, you try to get your usual breakfast only to find that the cereal box is empty and the milk’s gone sour, and then the car won’t start. By the time you get to work, you’re already feeling frazzled – and then your boss dumps an “urgent” project on your desk. You know you’ve got a backlog of emails to deal with from last week and you can feel your stress levels and blood pressure going through the roof.

Now, it’d be nice if you could de-stress by following some of the great advice you’ve no doubt already heard. You know, take a long bath, have an afternoon off, enjoy a long weekend’s vacation, go for an hour-long jog, etc. Unfortunately, you can only afford five minutes. Can you de-stress in five minutes? Yes, you can; just try one of these.

1. Go For A Quick Walk
   Even if you can only spare five minutes, go for a walk (it might just be to the water cooler and back). The aim here is to get yourself away from the immediate source of stress and to calm down. A few minutes to gather your thoughts is all you need to get some perspective.
2. Read Some Fiction
   If I’m seriously worked up, upset or stressed, one of the best things I can do is to grab a book. Fiction is ideal (especially anything funny or uplifting). Reading fiction takes you out of the here-and-now and into a different world. You can forget everything that’s troubling you, for just ten minutes, as you concentrate on the story.
3. Meditate or Pray
   Often, the best thing we can do to instantly de-stress is to simply stop. Many life coaches and stress advisors recommend meditation: there’s no mystery to it, just sit and try to clear your mind of thoughts (perhaps concentrating on a calming image or a word or phrase, if that helps you). I also like to pray – if this suits your religious/spiritual persuasions, it can be a very powerful way to get outside of your own head and call on a higher power for some much-needed help!




4. Watch A Funny Video
   I don’t know about you, but I just can’t stay stressed out when I’m laughing. (It’s like trying to pat my head and rub my tummy at the same time…) If you have a favorite YouTube clip, or if LolCats make you giggle, then give yourself five minutes to indulge. You’ll find that you return to your work – or whatever the source of the stress is – feeling much better equipped to handle it.




5. Make A Herbal Tea
   If you’re feeling uber-stressed, caffeine isn’t going to help. A warm, soothing mug of herbal tea might, though. The act of making yourself a drink can be calming: it gets you away from your desk, and it gives you a chance to concentrate on something physical. You’ll probably also feel a psychological boost from doing something positive and nurturing for yourself.
6. Punch A Pillow
   Depending on where you are when you’re feeling stressed, and on your personality, throwing a few punches at a pillow might help. Think of the stress leaving you through your fist with every punch. (If you’re in the office, please don’t be tempted to use a co-worker as a substitute pillow … even if said co-worker has caused your stress.)
7. Take Slow, Deep Breaths
   When we get stressed, we tend to breath more quickly, taking shallow breaths. Concentrate on your breathing (you might want to do this in conjunction with meditation or prayer). Imagine breathing from your stomach, not your chest. Take slow, deep, fulfilling breaths. Calming your body down physically in this way is likely to have a knock-on effect on your frazzled mental state.

Do you find yourself getting overly worked up on a regular basis? What are your instant fixes for when you’re feeling stressed?

Written on 5/31/2009 by Ali Hale. Ali is a professional writer and blogger, and a part-time postgraduate student of creative writing. If you need a hand with any sort of written project, drop her a line (ali@aliventures.com) or check out her website at Aliventures.

Photo Credit: stuartpilbrow

Instead of signing up with the first company that promises to painlessly eliminate your debt, you should start by contacting your local Consumer Credit Counseling Service agency. These agencies are members of the National Foundation for Credit Counseling which is accredited by the Council on Accreditation for Children and Family Services, Inc. In addition, all of their credit counselors are certified through Accel eMedia, Inc. These agencies provide many counseling and education services for credit, debt, and budget management.

If you have spent many years collecting high interest rate credit card debt with multiple accounts, then it may be time for you to talk to someone from a debt consolidation company. Whenever you add a new credit account to your name, your rating declines.

Inventory overload forces automakers and dealers to offer big incentives and rebates on most models.

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