Debt – Time to end the cycle and take back our lives.

Think of how much debt you pay. 

Mortgages, credit card payments, student loans, car loans. home improvement loans, .. the lists goes on. Interest people pay from 4% thru 27%. 

Write down how much interest you are paying toward debt each month. What would your life if you didn't have to make those payments? Could you afford that vacation, that classic Mustang you always wanted, or a vacation home?  Could you afford those house repairs you have been putting off?  Why are you paying your hard earned money as interest to some bank that has you under their thumb?

What can we do?

GET OUT OF DEBT AS FAST AS YOU CAN! 

The  process is really simple and can be done by anyone.  But it takes hard work and most people keep digging their hole with temptations of easy credit.  

1. Find out where you are. Get a clear picture of all loan details, including balances, lender information, min payments & dates, interest rates. Write down all living expenses. If you need assistance I would recommend the app/program, You Need a Budget. https://www.youneedabudget.com/
   
2. Join your local credit union and transfer as much of your debt as possible over to them. Take advantage of any special offers or introductory rates. Credit unions often offer higher interest rates on checking and savings than banks.
   
3. Consult a financial adviser:  It is well worth the investment to get even short term financial advice from a professional.
   
4. Make a conscious decision to stop borrowing money.
   
5. CREATE A BUDGET! - Budget 5-10% of your income to spend on yourself. (Haircut, cloths, an occasional overpriced coffee or beer, fast food, lottery ticket, etc)- Spend EVERY penny in your budget on paper before you get paid.- If you overspend in any area during the budget period, adjust other budget areas to make up the difference to avoid overdraft fees and amassing new debt.
   
6. Start an emergency fund, DO THIS FIRST before paying extra on your debt. It will help in preventing new debt.- Aim to have $1,000 in interest baring saving within one month from today! (budget for it, sell stuff, work extra jobs)- Aim to have 3 months living experience as an emergency fund within one year. Once debt is under control, increase to have 6 months.- Once you have a short term emergency account set up. USE IT for emergencies only. (Car breaks down, medial expenses, home repair, vet bills) and replenish it as quickly as possible.
   
7. Lay out all of your debt, highest interest to lowest.- Pay the minimum payment + 10% on all debt.- Then pay as much as you can on highest interest debt.- Repeat each month.
   
8. Learn how to invest.

If you have more debt than you have income:

1. Make more money! Work more hours, get a second job, sell things, and cut expenses.  It takes effort, hard work, and sacrifice but is well worth the time and effort.
   
2. Renegotiate terms with your creditors.
   
3. Seek help from family and friends.
   
4. Get a home equity loan (be careful not to go into negative equity)
   
5. Consult a Consumer Credit Counseling Service, but check with your state regulators and Better Business Bureau before picking one. Some are dishonest and will hurt more than help. Using a consumer credit service has a negative impact on your credit score in most cases.
   
6. Steal from your nest egg (this is the next to last resort, only for end of rope)
   
7. As a last resort, file bankruptcy

AVOID PAYDAY and TITLE LOANS AT ALL COSTS! They are crooks and will charge you upwards to 27% interest. (they used to charge 300% before regulators stepped in)

Some Recommend Reads:  These are just my favorites. 

• Dave Ramsey's Total Money Makeover. http://amzn.com/1595555277
• Suze Orman's 9 Steps to financial freedom.   http://amzn.com/030734584X 
• Lynnette Khalfani-Cox.  Zero Debt:The Ultimate Guide to Financial Freedom: http://amzn.com/1932450807
• James Scurlock's Maxed Out: Hard Times in the Age of Easy Credit: http://amzn.com/B001PO64WI   

Time to start sharing my ramblings: If anyone reads this I will be amazed.  I am a social conservative with some libertarian view, I am bound to offend you at some point.

My first topic: Gun Control

I support the right for people to own firearms.  Every person has the right, has the responsibility for their own safety.  

That said: With all rights come responsibility, those irresponsible can lose those rights (I will expand on this below)  

1. Licensing

I believe in licensing:

Firearms are deadly. I believe that ALL gun owners should be trained at least every 5 years.

* The only method I know to insure training is as part of a licensing program.

* This would put the costs and responsibility of background checks on the buyer.

* This would allow sellers to quickly check if a license number is valid or revoked.

A license would be suspended if (suspended would just not allow a person to buy a gun, but they could still own one)

* A restraining order is filed against them.

* If they are under investigation for a violent or property invasion crime.

I license would be revoked if:

* A person is convinced of a violent crime or a crime that involves a firearm.

* Suspected of terrorism.

* Certain mental condition. (this would be revoked by a licensed psychiatrist, and would be fully protected by HIPAA)

Gun collectors exemption:

* If the only firearms a person owns are manufactured before 1900; no license should be required.

2 . Registration

I do not feel strongly on firearm registration. I lean in favor of, but it would be way too complicated considering we have 3 million new firearms sold in our country each year.

3. Fees and Penalties:

* The licensing fees and requirements should be kept at a min. $25 for background check & $25 for a basic safety class (maybe even have the safety class online for $15). I don't want this to be a financial burden on people or cause problems with those who have limited mobility; but the program should pay for itself.

* If a person if found to own a firearm and is not licensed, make the fine similar to a traffic violation. Not a criminal offense. Maybe have the fine waved if they get licensed.

* If a person had their license revoked and are found with a firearm. Then it should be a criminal offense.

4. Why not license baseball bats, spoons, knives, etc..

* Firearms are made for one thing, to kill efficiently and effectively. There are a limited few exemption to this truth – like some weapons designed for target shooting.

* If someone was wanting to kill effectively, they would choose a firearm first. Just as if you were to cut your front lawn, you would choose a lawnmower over a pair of scissors. You could cut your lawn with scissors, but it just wouldn't be very effective.

* More fatal accidents happen from firearms than any other item.

* Gun regulations have existed in the United States for about 150 years, evolving many times since then to cover machine guns, assault rifles, Saturday Night Specials and undetectable firearms. And you can still carry an AR-15 around with a .45 in your back pocket.

If you think gun regulations are some Nazi like leftest move:

In 1938, under Nazi rule, gun laws became significantly more relaxed. Rifle and shotgun possession were deregulated, and gun access for hunters, Nazi Party members, and government officials was expanded. The legal age to own a gun was lowered. Jews and Gypsies, however, were prohibited from owning firearms and other dangerous weapons.