Advice to anyone drowning in a sea of debt!

Advice to anyone drowning in a sea of debt!
In this article, we'll confront the debt issues weighing
you down. Think of it as me throwing you a life jacket. If
you simply apply this one principle to your financial life
you'll be able to breathe again.

Go ahead, grab hold and put it on. And soon, you'll be back
in the shallow end, on firm financial footing, not just
breathing freely, but beginning to live again!

Let's talk about paying off and closing an account. Are you
ready?

What I want you to do is jot down all of your account
balances in descending order, from largest to smallest. I'm
talking about credit cards, loans, your mortgage payment '
everything. Don't worry about your interest rate ' right
now it doesn't matter.

Now we're going to play make believe. Let's assume your
smallest balance is $300. Next to each balance, write down
how much your minimum payment is. Let's pretend your
minimum payment on six accounts is a total of $1300. I want
you to plan on paying your minimum monthly payment on all
but the bill with the lowest balance. Now comes the fun
part. How much money do you have left over before paying
those bills? We'll be conservative here and say it's $1450.
Pay out $1,300 on that big stack of bills and you have $150
you can apply to that small $300 balance. Why should you do
this? Because by doing this you can pay off a small bill in
just two months and have a symbolic victory.

What this symbolic victory is intended to do is motivate
you into taking further action to improve your debt
situation. You didn't fall into your pit of money problems
' you jumped in one "easy" payment at a time. You won't get
out overnight, but with steady progress you can and will
get out.

You can't just snap your fingers and get out of debt. But
this single spark will kindle thoughts of financial freedom
and give you something to look forward to other than
another 20 years of overwhelming debt.

Let's quickly recap this technique: - Gather your bills
and write down your balances in descending order - Next to
that figure jot down the minimum payment - Pay the minimum
payment on all bills - Whatever amount of cash remaining
gets applied to the bill with the lowest overall balance -
Within as little as 1 to 2 months you have a zero balance
on one bill

This technique is going to do something else for you two
months down the road: You're going to have the amount of
that minimum payment not going out for bills each and every
month. That's money you can easily use to pay other bills.

While this technique is going to have a positive and
immediate impact on your financial well-being, it's
obviously not going to do a lot for your other bills. You
do want to stay on track with those as well, and one
excellent method of doing that is by getting a debt
consolidation loan to pay off a lot of smaller bills. You
can wind up with a lot more money to play with at the end
of your bill paying month.

This is a powerful one-two punch that will work wonders for
getting you out of debt quickly and easily.

----------------------------------------------------
Darrin Roseborsky is a Mortgage Specialist with OMAC
Mortgages, seminar speaker and president of
Canadianequityloans.com. Darrin shows people how to SAFELY
maximize their home's "equity", and how to transform that
value into "REAL" - debt-relieving solutions. An example of
exactly how this works, is at:
http://www.canadianequityloans.com

The 10 Keys to Successful Stock Options Trading ' Key #8

The 10 Keys to Successful Stock Options Trading ' Key #8
Hello, this is week eight in my ten week series on how to
trade options successfully. This week we are going to
discuss saving.

Saving is a very important part of any successful financial
strategy; if you spend your gains as soon as you have them
you will never reach true wealth. It is only by the miracle
of compound interest that your gains will truly turn into a
fortune.

Compound interest is the process whereby annual returns are
added to the original investment and reinvested, rather
than being spent or taken out, thereby creating a larger
amount to invest again, as this process is repeated the
compounding exponentially increases the returns over the
lifetime of the investment. For example if you invest
$10,000 a 20% return increases your portfolio to $12,000. A
20% return on that increases your portfolio to $14,400, 20%
on that is $17,280, 20% on that is $20,736 and 20% on that
is $24,883 which is a total return of $14,883.

Now assume as soon as you made the original 20% return you
took it out and spent it, your next 20% return would only
be the same $2000 on your $10,000 investment. If you kept
doing this 5 times your total return would only be $10,000,
$4,883 or almost 50% LESS than if you left your money in
your account. The longer you leave your money in your
account the more pronounced your returns will be and the
greater the effects of compounding will be.

Einstein once said "Compound interest is the 8th wonder of
the world". When applied to options trading we can replace
the word "interest" with "return on investment". That means
if you are winning and have a good return on your
investment don't take out the profits in your account to
spend on a new boat, car or house. Re-invest your profits
and if you are doing everything correctly the miracle of
compounding returns will exponentially increase the size of
your portfolio.

That's it, a short article this week. Next week we have a
lot to discuss when we talk about money management.

US Government required disclaimer: Options involve risk and
are not suitable for all investors. Prior to buying or
selling an option, a person must receive a copy of the
Characteristics and Risks of Standardized Options. Copies
of this document may be obtained from your broker, from any
exchange on which options are traded or by contacting The
Options Clearing Corporation, One North Wacker Dr., Suite
500 Chicago, IL 60606 (1-800-678-4667).

----------------------------------------------------
Roger Cox was born in New Zealand and has lived in Los
Angeles for seven years. He was President of a freight
company at LAX before setting up his own consulting firm.
Roger has successfully traded stock options for over 4
years and teaches other people how to successfully trade at
http://www.prosperitywithoptions.com