Think Twice Before Throwing Away Anything

Most of the times we never think twice before spending quite a lot of amount to buy anything or everything important or not-so-important stuffs for our day to day life, but strangely enough we never spare a thought before throwing off the same material or getting rid of it, that we bought by paying a considerable amount of cash. We away these stuffs without even considering the amount of money we had once spent on them just for the reason that the object is no longer trendy and has become obsolete with time and fashion or personal taste. Thus we end up throwing if off from our wardrobe to replace it with some other costlier and dearer products.

In the current wake of debt-related fears and insecurities such reckless and insensible behavior towards our own money and materials has made us humiliate our own wealth and productivity. How many of us have the sensitivity and wisdom to think about revamping and re-shaping our old clothes by stitching, sewing and decorating them into something new, innovative and stylish? How many among us have the creativity to recycle our seemingly useless objects like lamp-sheds, vases, jars or small trinkets by restructuring them into some beautiful, renovated and decorative furnishings for our room? We speak long lectures on recycling of products but have we once also considered of performing the same act with our own goods?

It may sound conventionally idealistic, but people who have made it a habit of parting away from their old and used up materials and belongings are actually unaware of their practical utility values. Practices like re-inventing, renewing and reusing objects for various purposes in and around the house, not only boost up one’s creativity and sensibility but also assures that this frugal approach of living would pay off at times during one’s financial hardships or deficiency. It is important to de-clutter one’s life, but revamping the same into something more useful, fashionable and decorative would be a better option than simply discharging away those things.

Student and Alcohol: Gulping Down the Money

Alcohol intake has become an integral part of any fun nowadays, especially teenagers who have just tasted the taboo of getting high and drunk over trivial issues. In this present scenario of increasing personal and individual indebtedness and financial deficits, no one is actually paying any heed to this habit which if not controlled can take a dangerous shape of irresponsible drinking habit, which leads to excessive loss of money and sometimes may even cost a fortune. According to Rachel Barrington of University of Wisconsin, the average college student spends $500 per year on alcohol, which seems to be quite an amount to lose in this debt-ridden existence. When in one hand people are falling back on debt relief options and debt settlement firms to treat them of their financial injuries, on other hand, the same people have not spared a second thought in spending a valuable amount of cash on alcohol drinking, either out of fame or shame, grief or smile.

It takes 5 years for a student to graduate and approximately $23,000 is borrowed for the purpose of financing education, which means more than 10% of college loans are being drained out to support alcohol consumption. The average amount of time that a college undergrad remains drunk is almost 10.6 hours a week. Instead of being drunk, if he/she decides to work on these hours and to take $8 per hour, they would end up earning $4,409.60 per year, which over the period of 5 years would become $22, 048. Thus to put the two facts together, if college students did not drink at all, they could save cash worth $1,548, instead of being $23,000 in debt.

Moreover, there is always a tendency of being addicted to alcohol which impairs the ability of students to perceive and think rationally, leading to blurring of sensory organs, which make them unaware of the continuous outflow of cash under the effects of alcohol.

Time Is Money: Assess The Worth Of It Without Wasting It

Money and time are the two sides of a coin. We can trade one of the other. For example money can buy us time and that is why we spend it for physicians and medicines after being diagnosed with a life-threatening disease and on the other hand, the more time we get, the more do we have the chance of accumulating money. The system of interest rate against any amount also follow the same formula; with time it increases its value, it may be either an unpaid loan or an outstanding bill or it may be a savings bank account, depending upon the nature of money put in. Time is also a deciding factor that determines our money-earning age and requisites and thus the time when we retire needs all the financial planning from beforehand. ‘Time is Money’ is an old saying that continuously reminds us that every second we lose in unimportant pursuits, actually part us of our net worth of making money. And that is why since our childhood education till the day we search for employment, we are advised to abide by a time-table that defines our action and results.

If we take a closer look, time also defines our payment amount and cycle at the end of each month, which sometimes makes us do that overtime do get that extra money. Saving time by working smart therefore is always appreciated as the extra time can be utilized in making more money or business. The thoughts of retirement which provoke people to gather, earn, save and accumulate more money simply follow the basis that the time to earn a living is limited, thus work out to make the best deal out of it, till it is with you. Evaluation of time’s worth is assessing the worth of money itself as the more time you have in hand, more is your opportunity to make money.

Is The Recession Over?

The statistics of National Bureau of Economic Research on the current recession, declares that this has been the longest recession that the country had to endure and digest since the Second World War. The period that lasted eighteen months seemed like eighteen long years. The decision is official to what many economists have believed for some time, that the recession ended in the summer of 2009, as the economy showed a steep growth from the July to September quarter of 2009, after showing four straight quarters of decline. But is this prevailing news true enough? If you happen to open the good lexicon to check the meaning of recession, I bet that you are bound to get scary at least till the time that you can switch over to that preferred job option or may be if you get a call from the creditors that your debts have been settled. Thanks to the debt settlement companies that are there to provide debt relief. However all that is heard may not be the reality, as the world is yet to recover from the bruises of recession. The general idea is that the recession was perpetrated by what is called excessive liquidity which led to overexpansion of credit to create a big bubble in the US housing market with the creation of secondary mortgage securities. By the time this bubble had burst, banks had run out of money and many organizations were on the verge of declaring themselves as insolvent and eventually the financial system went to collapse.

The recession must have got over, but with a few hitches as a few families are still finding it hard to pay their mortgage bills and the unemployment scenario is bleak enough for which a change in the economic priorities is urgently required. After all, bad times may not be considered to be over, until a better time is achieved with greater intensity and align it with the world.

Unplanned Holidays Can Mar your Enjoyment

Unplanned Holidays Can Mar your Enjoyment

Everyone looks forward for a refreshing break, as weekends are never too long. A vacation with family or friends can be the sole solace for the daily stress routine that we have. Actually, vacations are so attractive and comforting from the monotony of daily chores, that we often forget the monetary obligations that a holiday may bring in and at times a little or too much of indulgence can prove detrimental to our financial health. A prominent debt settlement lawyer has pointed out that ignoring the bills on account of a holiday or missing consecutive payments may lead to a situation where your credit card account may be charged off. In order to avoid a financial mess immediately after a grand holiday, better be prepared to pay off those debts which you have accumulated during the recent trip and also try to avoid overindulgence. But before all that and more, let me share a few useful and easy tips to make your vacation a really enjoyable one:

Your annual budget must have inclusion of your holiday expenses; try to review the previous holiday expenditure and plan a new one based on that so that you do not have to repent for enjoying on that trip, for some other emergencies which may come in your way at anytime of the year.

Spend within your means: make sure that the amount of money spent on shopping, accommodation, food, or sightseeing is according to your financial planner or otherwise be prepared to pay those hefty bills.

On holidays, usually your credit card may be a major source of your debts for it is easy to swipe your card and then worry about paying the bills for those goodies.

Shun away the laid back approach of delaying the payment of your credit card debts after the vacations.

Lastly, you should keep in mind; always plan your holidays much in advance to get the best deals and offers for your trip.

Holidays are a much wanted option for young and old alike but most of us fail in managing our expenses on a trip and acquire huge debts due to overspending. Credit cards are better than carrying large cash amounts but beware of those scams and frauds that may befall especially due to rapid use of credit cards and do not allow the post holiday credit card bills to vitiate the comfort that you are intending to have in lieu of that lovely trip!

Debt As A Threat To Our Morality: Check Its Crawling Steps

Just like money acts as a driving force of human entity so is Debt that may cause much more than the apparent damages in our life and society. Shortage or lack of financial freedom causes an offensive feeling of deprivation that the person tries to do away with as soon as possible by acquiring money by either hook or by crook, at times! The very moment when we come to know the value and significance of those green notes, we start chasing and craving for it headlong till the last day of our life, often forgetting the lesser ecstasies of life that come cheap! As a result the serpents of extravagances and greed for material possession creeps into us making us indulged in expensive consumerism, often at a cost of our common sense and conscious thinking.

Our gripping habit of Credit Card over-usage and spendthrift tendencies, drive us uncontrollably towards debt and bankruptcies. As a result we fall neck deep in debt, unable to find a way out and land in a dead end, where we owe heavy debt amounts to numerous lenders and creditors who make our life next to hell. At many cases, the desperate debtors finding no other way to get out of their overwhelming debts, tend to take illegal actions likes frauds and forgery and get involved in crimes like abduction, treachery, theft and robbery too ! It often happens that when someone who led a well-off financial life in past, falls downhill to sudden poverty due to debt, the debtor looses his/her mind and judgment, and take some drastically disastrous decisions that land them in further trouble and embarrassments.

According to psychologists, often chronic debtors show signs of ‘Masochism’ or inhumanity, when pushed to the wall by the creditors, as overwhelming debts create enormous tensions and mental strains that sometimes rob the debtors of their moral character and sense of acumen. Under such harsh financial deficit, the debtors lack right perception towards money and worse even loose a chunk of their sanity! But it would be surprising to know that, regardless of the retreating morality as a result of indomitable debt, people’s attitude towards the phenomena remains indifferent and casual! To some extent the various debt relief options and inventions of credit card has made the debtor more adventurous and greedy, as if they are not yet tired of experimenting with the ebbs and tides of money and poverty.