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SMI Visitor's Blog
     Welcome to the SMI Visitor's Blog where you'll find selected excerpts from our Member's Blog, plus occasional posts created especially for our visitors. For SMI Web Members, click here to go to the SMI Member Blog. May 2, 2011There is hope!Here's a quick story of how one couple conquered $83,000 of credit card debt.  Image by eric731 via Flickr Not surprisingly, the key ingredients included cutting up the cards, learning to budget, and spend cash for everything. But there was one other crucial piece — getting help from a credit counseling group that managed to negotiate their interest rates down from as high as 32% all the way down to 3%. Obviously the best approach is to avoid getting into debt in the first place. But it's encouraging to read stories like this of how people have managed to dig themselves out. Not fun. But inspiring. Have your own story? Tell us about it in the comments area. 
Posted by Mark at 9:25 AM
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Category(s): Family Finances Tag(s): beat debt, debt, debt-free, getting out of debt  Email this post
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Governments and central bankers round the world have done everything they can to prop up failed banks, and lending that was risky from the start. We will not have a real self sustaining recovery without an end to deficit spending and lots of financial institutions going bust. I find discussion about mortgage finance and loans a bit meaningless.
Political leaders and central banks round the planet have done everything they can to prop up failed banks, and loans that was imprudent from the start. We will not have a real self sustaining recovery without an end to deficit spending and lots of financial institutions going bust. I find discussion about mortgage finance and loans a bit meaningless. I also think the property costs have to reduce a lot even now. I mean why would you want to own a home in the US or France? Isn't it much more cost effective to rent?