Doctor Debt Blog

Bankruptcy Pep Talk 0

Bankruptcy Pep Talk

So often, people come to me, embarrassed and ashamed that they are facing bankruptcy, or a similar compromise of debt. They feel that they have failed. They are hard on themselves in a way that is not productive. I created this pep talk in an effort to help them through this cross road in their life. Feel free to share this with anyone who you feel would benefit from it.

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Talking to Collection Agents 101

The method that works best depends on who is on the other end of the line, their personality/style and maybe on the success or failure of the call before you. Some agents are understanding and sympathetic. Others, well, not so much. They have an agenda and will not waiver from it. The following are some “tips” to help you take some of the stress of these conversations.

Beware the word CONSOLIDATION! 2

Beware the word CONSOLIDATION!

What comes to mind when you hear the word “Consolidation”? Do you envision all of your debts being ‘paid off’ leaving you with the manageable obligation of one monthly payment? If so, you are thinking about a “Consolidation Loan”. A financial institution loans you money by paying off your debt and you pay them back. With interest, of course. Nowadays, the word “consolidation” is being used in a much more liberal term

Savings does not equal affordable 0

Savings does not equal affordable

I’m in my car. On my way to work. Listening to the radio. And one commercial catches my attention.

A lady comes home with a shopping bag. Her husbands asks what’s in it and then exclaims, “Don’t you have enough dresses?” (Like that’s actually possible). She replies, “But honey, they were 70 percent off”. He pauses and then replies, “That’s a lot.” In reality, this is a general perception. If it’s on sale and I’m getting such a great bargain, I should buy this.

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Savings hidden among the books

We have a weekly tradition in our household. Every week, assuming they have earned it, we stop at the local convenience store, where my kids get to pick out a movie. We head to the non new-release section. Its a great deal. A 3 day rental for 2.00. The kids get an entire weekend of entertainment (assuming they have time to watch the movies. And if they don’t, it’s only 4 bucks.)

Are you in survival mode or beyond? 0

Are you in survival mode or beyond?

If you step back and look at your finances, you will find that you are in one of three stages of financial being – The first stage is “survival mode”. The next stage is the “breathing room” stage. The third stage, which is where we all strive to be, is the “comfort zone”.

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The secret to getting out of debt

Trimming your budget is a lot like trimming your waistline. Consumers spend millions of dollars every year looking for that magic solution to losing weight. And businesses increase their bottom line while relatively few consumers decrease their bottoms/middles etc. The same phenomenon happens in money management. We tend to look for quick fixes – consolidation loans, second mortgages, payday loans. Neither works for the masses. Why? They do nothing to address the underlying problem…

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I’m making a stand with wet hands!

It’s been six long months and my hands are cleaner than ever. Who would have thought I would make it this far? I am referring to life without a dishwasher. Around mid-December, ours broke. My first reaction was sheer terror. I’m pretty sure I almost lost consciousness. Like many families struggling to make ends meet, I didn’t have any savings to buy another. The word credit kept flashing in my mind, but we were just managing what we had. I took a deep breath, pulled up my rubber gloves, and started washing.

Feeling Good About Money 0

Feeling Good About Money

{“You have got to feel good about money to attract more to you. Understandably, when people do not have enough money they do not feel good about money, because they don’t have enough. But those negative feelings about money are stopping more money coming to you! You have to stop the cycle, and you stop it by starting to feel good about money, and being grateful for what you have. Start to say and feel, “I have more than enough.” “There is an abundance of money and it’s on it’s way to me.” “I am a money magnet.” “I love money and money loves me.” “I am receiving more money every day.” “Thank you. Thank you. Thank you.”}