Tuesday, March 31, 2009

Homey Says:

...It's time to pay a bill! This was my SHMILY for today - right near the hot coffee! Guess I better do as Mr. Wonderful requests, because there's no telling where Homey will show up next if I DON'T!

I was reading something the other day on revamping finances during the current economic crunch we're all dealing with. It was said that if you are one of the many people that have financial woes, offers by debt consolidators should be ignored, as it will cost you more in the long run. I believe this is sound advice, simply because I was in that situation many many many years ago, as a young newlywed. I had to have an emergency surgery, and with no insurance, and no experience with bill collectors knocking at my door, well - it is a scarey situation, to say the least.

I was easily intimidated, wanted to do the right thing by creditors, and felt I had no other options available to me. Well, there are always other options, and the first is setting up a re-payment plan. Another good option is settling for a lesser amount, if you have cash readily available and if the debt has gone on for a long time, with the creditor getting "nervous".
Financial whiz, Suze Orman, has written some good books, and has programs on cable that are worth investigating. Some folks like her, some don't. I find her interesting, as she tries to assist women, particularly, with their finances, and as I was once in the 'newly divorced' canoe with no where to paddle in the sea of debt, she had some words of hope and help that I was able to use, and it saved me from entering The Great Abyss. What are your thoughts on this topic, or Suze Orman? I'd love to read what you have to say!


^..^Corgidogmama said...

I like Suze. She also was born in 1951, same as Jim and I. She has lots of great ideas, is bold, and seems to want to help women a great deal. Lordy...as we sink...let's grab help wherever we can!

Olde Dame Penniwig said...

I have not heard much about Ms. Orman other than she misrepresented her past a bit. I have read and appreciated advice from Dave Ramsey, another finanicial advisor.

I agree about the "debt reduction" businesses -- they are just that, businesses trying to get some money out of people. Better to do as you suggest and work with the creditors or their direct agents.

I'm not sure how our society ended up so hog-tied with insurance and such, but we are sure paying for it now.

ClassyChassy said...

Dave Ramsey is one of my favorites, too. His courses are available in many churches and business groups! He's been through it all, too, and just knowing that gives people respect for him.

Infrared Goggles said...

Yes, yes, yes, I am a big Suze Orman fan, and cannot say enough about her economically-sound advice during a crunch. Thanks for the great post!

Dismom said...

I like Suze-she's got moxy. Nice post-I think we could all use as much financial advice as possible these days!

ocmist said...

Yes, we tried a debt reduction place several years back and they didn't reduce ANYTHING... We just ended up paying their fees too. I know that many people really like Suze Orman, but I've only listened to her a few times, so can't say much. I do listen to the 700 Club and Pat Robertson has a lot of sound financial advice and has a book and Audio media out on it too.

I do believe that it is important to get good advice from people with a Christian viewpoint and that follow Biblical financial principals.

Sabrina Horton said...

I like both Suze and Dave. I'm currently reading one of Suze's books on Women and Money. Dave's latest email has me looking into life insurance.