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Inbox Magazine 5.5.2012 - Frugal Living

Apr 17th 2012 at 1:29 PM

Issue #6 Facebook | Youtube | Twitter
Dear readers,
Every month we write articles in our E-mail in box Magazine on a number of subects and make them availible in our printed version of this magazine and delevered your home or

Some of the subjects that we write about in this magazine range from business, financies, health and fitness these are our regular subjects you will also find bonus articles on topics
such as beauty, gadgets, fashion and other subjects. See this issue online click here

I hope you enjoy this months issues =)
Chris Brown

Frugal Living

Debt is one of your biggest expenses. You may think your home is your biggest expense. You see the debt from your home will cost you way more than your actual home.

A 30 year $200,000 mortgage at 6% interest will cost you $431,676.38 in interest alone and $231,676.38.

The same is true with other kind of debt such as credit cards a $5,000 credit card at 29% interest will cost you $10,505.89 in interest. 

If you want to reduce your expenses you want to lower and get rid of your debt as soon as possible.

Step 1 Change your Habits: First thing you have to do is change your habits. You did not go from debt FREE to becoming 10's of dollars in debt over night it took time.

You have become acustom to putting things on credit cards and going to into debt so it will take time and self control in order to chage this habit.

Step 2 Hire a Book Keeper: So what we would suggest is to hire a book keeper that will pay your bills for you and give you enough money to live on and have some fun too.

Step 3 Gather all your creditors and answer these questions it would be wise to get a financial planer or note book to use in conjunction with this. 

Number of Debt I have ..................
Amount of each debt ....................
Number of payment to pay off each debt .................

 David Bach's Debt Free For Life: The Finish Rich Plan for Financial Freedom provide work sheet and letter to help you with this.

 Look at you debts pay ONLY the minimum payment for all you debt but one. Lazer focus on this one debt which should be you smallest debt and pay as much as you can each
month in order to pay of this debt.

Lets look at and example lets say you have a debt that you will pay of by paying only the minimum payments in 12 months but instead we double your payments. So instead of pay $50 a month we pay $100 per month you will have this debt paid off in 6 months.

Once this debt is paid off then do the same thing with the 2nd smallest debt.

The reason you want to focus on small debts is to make you feel you are making progress.
Step 4 Increase the amount of income you keep: You will need to increase the amount of income you keep so that you can add this extra money to your debt.

According to Rich Dad Poor Dad series "How we got out of Debt" which suggest $500 per month.

You can do this by lowering your expenses ever futher as you will see in further issues of this inbox magazine it is very simple to reduce your expenses $500 per month.

The way Robert in Kim did this in the program "How we got out of Debt" is they added $500 in income. They did this by hold "How To" seminars.

You could increas your income by:
Offer your labor: Perhaps you can do yard work, you can write articles for business,ect...

Many companies do not want full time employees but still need work done so they will outsource this to indepent contractors a great place to find this type of work is

Start a blog or Youtube video show and each a income from advertising revenue.

Start a side business these norally have a small investment of $500 or less.

As we started in our first issue there are 2 kinds of debt good debt and bad debt, bad debt take money out of your pocket and good debt makes you money.

Starting a side business is a good debt in future issue we will also take about credit repair which will dramtically lower your debt. You can do it yourself of you can hire a company to do your credit repair for you.

This is investment to fix your credit but this investment will make you money. The same is true here.

You can also use the tax secrets of the rich and add an extra $300-$500 per month added onto your pay check from your job click here >> for more details

If you did not have to work 40hours a wek what old you do with your time click here

Chris Brown

Insurance marketing | life insurance marketing | hospital marketing | California Screamin



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