Comments on: Deal With Your Debt - Book Review http://www.savingadvice.com/blog/2006/02/26/10447_deal-with-your-debt-book-review.html Bridging the gap between saving money and investing Mon, 13 Oct 2008 17:59:23 +0000 http://wordpress.org/?v=2.6.1 By: Mark Pris http://www.savingadvice.com/blog/2006/02/26/10447_deal-with-your-debt-book-review.html#comment-254778 Mark Pris Tue, 26 Feb 2008 21:09:00 +0000 http://www.pfadvice.com/?p=447#comment-254778 Hello, your website is very informative and useful, I would like to share with you links, send all the questions on my e-mail. Hello, your website is very informative and useful,
I would like to share with you links, send all the questions
on my e-mail.

]]> By: John Svid http://www.savingadvice.com/blog/2006/02/26/10447_deal-with-your-debt-book-review.html#comment-254022 John Svid Mon, 25 Feb 2008 14:07:49 +0000 http://www.pfadvice.com/?p=447#comment-254022 Wow great site! Some really helpful information there. I’m sorry for little off-topic, but I want to ask you about design of this site. Did you make this template yourself or got from any templates website? Looks pretty cool for me. Wonderful well this reading. Wow great site! Some really helpful information there.
I’m sorry for little off-topic, but I want to ask you about design of this site.
Did you make this template yourself or got from any templates website?
Looks pretty cool for me. Wonderful well this reading.

]]> By: John OMM http://www.savingadvice.com/blog/2006/02/26/10447_deal-with-your-debt-book-review.html#comment-1002 John OMM Thu, 09 Mar 2006 16:06:28 +0000 http://www.pfadvice.com/?p=447#comment-1002 I got this book from the library not too long ago and thought it was pretty good as well. Far, far better than the books that are really an extended advertisement for some novel debt reduction plan. As to arbitrage. I both enjoy it and reap financial rewards from it. My wife and I have<a href="http://ourmoneymatters.blogspot.com/2006/03/holy-grail-of-balance-transfer-offers.html/" rel="nofollow">$87,000</a> in outstanding credit card loans at a rate of less than 1%. I got this book from the library not too long ago and thought it was pretty good as well. Far, far better than the books that are really an extended advertisement for some novel debt reduction plan.

As to arbitrage. I both enjoy it and reap financial rewards from it. My wife and I have$87,000 in outstanding credit card loans at a rate of less than 1%.

]]> By: pfadvice http://www.savingadvice.com/blog/2006/02/26/10447_deal-with-your-debt-book-review.html#comment-967 pfadvice Sat, 04 Mar 2006 22:51:50 +0000 http://www.pfadvice.com/?p=447#comment-967 <i><b>Very interesting to hear the “true� statistics about American credit card debt. but I would like to know what the average cc debt of those that DO carry a balance is… or do I have to read the book?</i><b> For those that carry a credit card balance, the average (2003) was $9,205 and the median was $1,900 (50% of credit card holders have more debt than this and 50% have less). Her argument is that the averages are deceiving and the median number is much more accurate. her example: <i>"Imagine you are in a room with 9 friends - and two of those friends are Bill Gates and Warren Buffet. The average net worth of each person in the room is $8 billion, even if 7 of you are flat broke"</i> Very interesting to hear the “true� statistics about American credit card debt. but I would like to know what the average cc debt of those that DO carry a balance is… or do I have to read the book?

For those that carry a credit card balance, the average (2003) was $9,205 and the median was $1,900 (50% of credit card holders have more debt than this and 50% have less).

Her argument is that the averages are deceiving and the median number is much more accurate. her example:

“Imagine you are in a room with 9 friends - and two of those friends are Bill Gates and Warren Buffet. The average net worth of each person in the room is $8 billion, even if 7 of you are flat broke”

]]> By: Caitlin http://www.savingadvice.com/blog/2006/02/26/10447_deal-with-your-debt-book-review.html#comment-966 Caitlin Sat, 04 Mar 2006 21:37:30 +0000 http://www.pfadvice.com/?p=447#comment-966 Very interesting to hear the "true" statistics about american credit card debt. but I would like to know what the average cc debt of those that DO carry a balance is... or do I have to read the book? ;) Very interesting to hear the “true” statistics about american credit card debt. but I would like to know what the average cc debt of those that DO carry a balance is… or do I have to read the book? ;)

]]> By: pfadvice http://www.savingadvice.com/blog/2006/02/26/10447_deal-with-your-debt-book-review.html#comment-938 pfadvice Thu, 02 Mar 2006 01:03:06 +0000 http://www.pfadvice.com/?p=447#comment-938 <i><b>I’m surprised you’re not an Amazon associate??? Like so if I clicked on the book from your site and bought it, you’d get $$$? But perhaps that has to do with where you live…</b></i> Actually I am, but have never had a whole lot of luck with them. That's probably because I almost always (this time being one of the few exceptions) recommend that a person get the book at the library first - then if they like it enough that they know they will refer to it and use it again, they should buy it. Maybe I'll have to take another look at them and see if working with their system is worthwhile again... I’m surprised you’re not an Amazon associate???

Like so if I clicked on the book from your site and bought it, you’d get $$$?

But perhaps that has to do with where you live…

Actually I am, but have never had a whole lot of luck with them. That’s probably because I almost always (this time being one of the few exceptions) recommend that a person get the book at the library first - then if they like it enough that they know they will refer to it and use it again, they should buy it.

Maybe I’ll have to take another look at them and see if working with their system is worthwhile again…

]]> By: lizriz http://www.savingadvice.com/blog/2006/02/26/10447_deal-with-your-debt-book-review.html#comment-937 lizriz Thu, 02 Mar 2006 00:02:05 +0000 http://www.pfadvice.com/?p=447#comment-937 I'm surprised you're not an Amazon associate??? Like so if I clicked on the book from your site and bought it, you'd get $$$? But perhaps that has to do with where you live... I’m surprised you’re not an Amazon associate???

Like so if I clicked on the book from your site and bought it, you’d get $$$?

But perhaps that has to do with where you live…

]]> By: Bruce http://www.savingadvice.com/blog/2006/02/26/10447_deal-with-your-debt-book-review.html#comment-924 Bruce Mon, 27 Feb 2006 17:29:58 +0000 http://www.pfadvice.com/?p=447#comment-924 Great review, I may need to pick that one up. I'm particularly interested to see that $9000 credit card number questioned and explained. It is like that completely incorrect "90% of all businesses fail in the first year" quote you hear so often. Great review, I may need to pick that one up. I’m particularly interested to see that $9000 credit card number questioned and explained. It is like that completely incorrect “90% of all businesses fail in the first year” quote you hear so often.

]]> By: Mighty Bargain Hunter » Four and twenty Debt Reductions, baked in a pie http://www.savingadvice.com/blog/2006/02/26/10447_deal-with-your-debt-book-review.html#comment-920 Mighty Bargain Hunter » Four and twenty Debt Reductions, baked in a pie Mon, 27 Feb 2006 05:02:45 +0000 http://www.pfadvice.com/?p=447#comment-920 [...] A good read if you’re in debt is Liz Pulliam Weston’s new book, reviewed thoughtfully by Personal Finance Advice. [...] [...] A good read if you’re in debt is Liz Pulliam Weston’s new book, reviewed thoughtfully by Personal Finance Advice. [...]

]]> By: samerwriter http://www.savingadvice.com/blog/2006/02/26/10447_deal-with-your-debt-book-review.html#comment-918 samerwriter Sun, 26 Feb 2006 20:33:06 +0000 http://www.pfadvice.com/?p=447#comment-918 I agree with the argument against credit card arbitrage. Unless you genuinely enjoy doing this (and some people do), then the money you earn is almost certainly not worth the effort it requires, and the potential hit to your credit rating (which can cost you a lot more than the few hundred dollars you might make). If you do enjoy the challenge and the feeling of "beating" the credit card companies, then I guess it's (usually, but not always) cheaper than spending an afternoon at the movies! I believe the same is true of those who switch from bank to bank to get an extra .25% on their $800 savings accounts. That's a prime example of "penny-wise pound-foolish", and I am bothered seeing both of the above strategies advocated on the debt reduction sites. I agree with the argument against credit card arbitrage. Unless you genuinely enjoy doing this (and some people do), then the money you earn is almost certainly not worth the effort it requires, and the potential hit to your credit rating (which can cost you a lot more than the few hundred dollars you might make).

If you do enjoy the challenge and the feeling of “beating” the credit card companies, then I guess it’s (usually, but not always) cheaper than spending an afternoon at the movies!

I believe the same is true of those who switch from bank to bank to get an extra .25% on their $800 savings accounts. That’s a prime example of “penny-wise pound-foolish”, and I am bothered seeing both of the above strategies advocated on the debt reduction sites.

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