Banks in general Informative - Get out of debt - free advice, REALLY FREE
JUST SOME COMMON SENSE FOR FREE.
Live WELL below your means. Pay every extra cent you can on your highest rate cards. Play the balance transfer game. So you pay a 3% one time fee for a year of 0% or 4%. big deal. you'll save more than that over a years time. It takes some time to get out from under it true. But you never will if you play by their rules. You have to get yourself into the mind set of "DO I really NEED it?"
After you get out of credit card debt. Work on your mortgage. USING THEIR MONEY!!!! Yeah, you can take $300 amonth and pay it to your mortgage and that will save you a ton in the life of the loan, BUT, by that time the credit card companies will be begging you to take their money. 0%, no fee balance tranfers. Use them to take a chunk off your principal. YOU CAN PAY OFF YOUR HOUSE.
If they tell you it doesn't pay to refinance, do the math yourself. Yeah, you pay an extra 3500 in closing cost. But if it lowers your monthly payment a 100 bucks do it. That's a 100 extra towards principal. Over the life of the loan it saves you a ton more than 3500. When your tax refund comes in, or you can take out a loan on your 401, throw it on your mortgage!!! Yes, you pay back the loan with interest. But the interest you are paying is to yourself, not THEM. And you are saving interest on your house. Same with the credit cards. Got a 401???
I don't have my house paid off YET. But I'm well on my way. Do I have a savings account, CD's and such? No. Why lock a chunk of money up drawing 5% when it'll save me alot more if I put it towards my house? And get this......the less you owe the less you pay in interest rates.
I'm not college educated, I don't think of myself as brainy, but just think about it? Did you have your own computer growing up, or a cell phone? Why do you kids need one? I turned out fine. Did you? Does all the STUFF REALLY IMPROVE YOUR QUALITY OF LIFE??? Do you really enjoy watching your big screen TV while in the back of your head you are worried about paying the bills?? My 30 TV does me fine.