William Penn Life, 2000 (35. évfolyam, 1-12. szám)
2000-12-01 / 12. szám
Earn extra interest on your WPA annuity Between September I and December 31, 2000, all WPA annuity contracts will earn 6Vi% interest. That’s a bonus of % % for the last four months of the year. If you don’t already own a WPA annuity, you can still take advantage of this end-of-theyear bonus rate. Call your WPA representative or our Home Office toll-free at 1-800-848-7366 and sign up for a WPA annuity TODAY. Howtoridyoursel of holiday debt Each year we say we will limit what we spend on Christmas presents. But, each year, our hearts take control of our wallets and credit cards. By the time January rolls around, our hearts are blissfully spent, and we're left to handle the holiday bills. What follows are steps on beating those bills from gopbi.com. by Mair Downing, GoHamptonRoads.com So, we're overspending this holiday season. And soon the bills will be here. What are some of the things we can do-and we can avoid-to get those blasted bills off our backs? STEP #1 Pay as much as you can Once the bills do arrive, pay as much as you can each month. This ensures that you are paying principle, not just interest. For example, if your payment is $180, don't just send a check for the suggested amount. In most cases, that's just interest-or only a few dollars more. In that same scenario, pay at least $250, or if you can, even more. This ensures that your money is actually whittling away your debt. And always pay off credit cards with the highest interest rates first. STEP #2 Create a budget Once you have committed to repaying your debt in a timely manner, your daily spending will have to be tapered back. The best way to monitor your spending is to create a budget. Write down everything you spend on a daily/ weekly basis. This includes the sneaky $2 cups of coffee to the obvious $50 sprees at Target. Once everything is documented, eliminate anything unnecessary. Once your spending habits are in black and white, it's easy to find the flaws. STEP #3 Get a second job This option isn't for everyone, but for those with limitless energy, a postholiday job can provide the necessary extra income to rid yourself of holiday debt. As an added bonus, many retail stores offer discounts on merchandise to their part-time employees, which could be used to stock up on next year's Christmas items early. STEP #4 Set a payment schedule Believe it or not, most people don't finish paying off their holiday bills until July. To put it in layman's terms, it will take you approximately six months to pay off those toys your children have long forgotten about-or worse-have broken. Given this, set some goals for yourself about how long you will need to pay for the items in full, and keep a log. (This ensures that you know exactly where your money is going.) STEP #5 Seek credit counseling According to the Wall Street Journal, close to 70 percent of Americans are relatively broke after the holidays. Misery loves company, but it won't pay your bills. If you simply don't have the money to pay your creditors, don't stress too hard. The first thing you need to do is contact your creditors and let them know your situation. If you feel you can't communicate your financial trouble successfully, ask for assistance from a credit counseling service. Such services are free, but beware of "credit repair" businesses that charge fees. Generally, when creditors see people are seriously trying to pay their debts, they will adjust payment schedules to ensure income. mj»| | gopbi.com is the address for Palm Beach Interactive, a site that covers Palm Beach, plus information on a variety of topics of genercil interest. 4 William IVnn Lile, December 2000
