Dave's Blog

Are you looking for a magic pill to cure your financial woes?          The average family is one paycheck away from disaster and has over $8,000 in credit card debt. Are you one in this boat?  You must know that, becoming your own bank system is not a magic pill to get you out of the debt woes. ...

Perhaps the most obvious advantage of individualized banking is that it offers life insurance coverage—something most people need anyway. Life insurance is a low risk investment; there are guaranteed returns, and life insurance companies are noted for their longevity. There are also tax benefits...

Compound interest is the concept of adding accumulated interest back to the principal, so that interest is earned on interest from that moment on. The act of declaring interest to be principal is called compounding.   The power of compound interest is huge.  Take for example: If the Native Ameri...

        Start saving at the same time as you pay down debt  This is one of the most debated areas I will cover in the Maze of Debt serious.  You see some people say to through all your money towards your debt, and others say do not worry about your debt and to only save.  Well I see more people d...

          Make sacrifices to eliminate debtSACRIFICE.  Live on a BUDGET.  I know, people hate those two words.  But it will take sacrifice to get out of debt.  The good news is that it will be worth it.  Every time you make a sacrifice and stay on budget you will be investing in your future.  Alw...

         Find ways to increase incomeMake a little extra money to pay off a bills, build up your savings, and pay an upcoming expense?Right now people are doing many things to create more income.  Here are just some of the ways you might be able to make a little extra money each month.  Any thing...

Find ways to cut expenses  You can find little things here and there to do to cut expenses or save money.  It takes a little work on your part.  Here are just some of the things you can do to help.  By no means is this an end all be all. You can save hundreds of dollars a year by comparing prices...

Have a written Pay Down Debt Plan.Develop written plans for your everyday expenses and debt payments for the next year. If you need some worksheets for these ask Dave.  He will send you them free.  They will help you figure out what you cash flow is. Now that you have a written picture of your fi...

Learn about your Debt.  To beat your debt and pay it off you will need to learn more about it. How much debt to you have? How much do you pay on that debt every month?  These two things will be easy for you to find out.  the hard part is to learn some of the other things I am going to ask. Here a...

Organize your records.   This is a very important step of getting out of debt.  When we have all the records in place we will know what we owe, why we owe it, to whom we make payments, and how much we owe.  Plus we are able to catch mistakes and show proof.      The first thing you must do is fin...