Debt Consolidation Blog

Archive for December, 2011

Employment numbers from June of this year indicate that Wisconsin is responsible for almost half the jobs added throughout the nation. A strong job growth initiative enacted by Wisconsin’s governor has already resulted in employment opportunities increasing at a consistent rate. The University of Wisconsin has also been major contributors to the job supply and continue to bolster WI economic state for the better.

Wisconsin governor, Scott Walker, has made the addition of new jobs one of the primary focuses of his campaign. His focus has paid off as Wisconsin has reportedly added a total of 9,500 new jobs for the month of June 2011. The national job gain for that month was reported at 18,000 which demonstrates that Wisconsin’s job total accounts for over half of the national amount of jobs gained across all states. This is an impressive number that Wisconsin state officials hope is the beginning of an upward trend. Governor Scott Walker stated “We have made difficult decisions in our state but they are beginning to pay off…the national job figures remind us that we cannot rest after one month of good news; while there will be ups and downs along the way, we must help lead the nation to recovery.”

Jobs in the private sector have accounted for a large amount of the job growth reported statewide. There has been an increase of 1.7% total jobs in the private sector which is almost twice the national rate of 0.9%. The total amount of private sector jobs in the state of Wisconsin was 12,900 for the month of June alone. Many of these jobs are a direct result of the efforts of Governor Walker to make Wisconsin a more business friendly state. Scott Baumbach, the secretary for Department of Workforce Development in Wisconsin stated “Wisconsin has added 39,300 private sector jobs since Governor Walker declared Wisconsin open for business…Jobseekers and employers alike are reaping the economic benefits of the business friendly environment that Governor Walker is advancing, and we encourage jobseekers to keep pursuing these new employment opportunities.”

Many of Wisconsin’s jobs are also from its schools and Universities. A recent report released by the University of Wisconsin-Stout stated that the school was responsible for contributing more than $347 million a year towards the Wisconsin economy. It also stated that the University provided more than 7,096 jobs and a total state tax revenue of $18.3 million. The effect of the University’s impact on the economy is profound and direct spending by the student and faculty serve to stimulate the economy of Wisconsin even further.

Wisconsin is undoubtedly one of the highest performing states in the nation in terms of job production. Its contribution to more than half the jobs in the nation for the entire month of June is demonstrative of the strength of Wisconsin’s economy. Efforts from the Wisconsin Governor to increase jobs as well as direct contributions from State Universities have worked together to improve the availability of jobs throughout the state of Wisconsin and improve the economy for the better.

Articles on www.debtplan.org have been acquired from a variety of sources. No content on this site should be considered financial or legal advice

Understanding how to consolidate debts will assist you in your debt management efforts. Having multiple debts and credit card payments can be stressful, overwhelming and can lead to financial difficulties. If you have many credit card payments that are difficult to manage, consolidating your debts is an efficient way to gain control of your finances and pave the way for more secure financial choices in the future.

If you are a recent graduate with multiple student loans, it may be in your best interest to consolidate your debts into one singular payment. This can help you manage your student loan payments by having only one monthly payment at a low interest rate. Currently federal student aid allows you to consolidate your federal student loan debt into one payment. They offer two separate options which are a Traditional Direct Consolidation Loan and a Special Direct Consolidation Loan. These options offer various repayment terms and there is an application process before you are approved.

Students are not the only ones who need to consolidate debts. If you have multiple credit cards all with differing payment amounts, due dates and interest rates, it may be in your best interest to consolidate your debts. You can consolidate your credit card debts in a variety of ways. Obtaining a personal loan is one way to consolidate your credit card debt. You can use the funds from your personal loan to pay off the balances on your credit cards and then pay one low monthly payment towards the personal loan. A loan of this nature requires excellent credit and a good source of income which demonstrates your ability to repay the loan.

If you own a home, car or other personal asset such as a boat or an RV, you may be able to use these items to obtain a loan to consolidate debts. A loan of this nature uses your assets as collateral and is considered a secured loan. These loans are typically easier to get than a personal loan since your asset is used as collateral in obtaining the loan. Once you have received your loan, you can then use the funds to pay off your unsecured debt. Subsequently, the only monthly payment towards your debt will be the loan repayment at a low affordable monthly rate.

Consolidating your debt is one of the best debt management techniques available. If you have been struggling with overwhelming credit  card payments all due at various times of the month, consolidating your debt will allow you to deal with only one payment at an interest rate that is affordable to you. In addition, if you are a recent graduate with multiple loan obligations, you will find consolidating debts to be a simple and convenient solution.

One drawback to consolidating debts is the temptation to spend from your credit cards throughout the consolidation process. Once the cards have been paid off it may seem as though you have a blank slate and a few purchases will be harmless. However this is a misnomer that can be costly as you will end up owing on your debt consolidation loan in addition to your recent purchases. This can cause you to become even further in debt than you were previously. To avoid this, make all your loan payments on time and wait until the loan is paid off before using your credit cards again.

Articles on www.debtplan.org have been acquired from a variety of sources. No content on this site should be considered financial or legal advice

When you need to make multiple payments on various credit cards, keeping track of your bills can prove difficult. One debt management strategy that can help alleviate some of the stress associated with multiple bills is debt consolidation. Debt consolidation simplifies your finances by combining your many bills into one single monthly payment. If you are new to the concept of debt consolidation, understanding the options available to you can help you decide if debt consolidation is right for you.

Debt consolidation can help you lower your monthly payment obligations and get a handle on y our finances. If you are new to the concept of consolidating debt, you will find that it is not very difficult and involves taking a strategic approach for the best results. The first thing you should do is identify which types of debts you have and whether consolidating them would work for you. Deciding on a specific approach can start you on the path to debt consolidation for financial stability.

If the majority of your debts are in credit cards, then the debt consolidation approach that may work best for you is the balance transfer. A balance transfer involves moving the balance on one credit card to a different credit card with a lower interest rates. Many balance transfer cards begin with a low introductory interest rate for a limited term such as six to twelve months. After this time, the interest rate usually increases to a more traditional rate. Balance transfers work well for those with a good to fair credit rating. You can transfer the balances from different cards to one card and work to significantly pay down the debt during the promotional time period.

Debt consolidation can also work if you have different types of debt other than credit card debt. If you have medical bills, payday loans, credit debts as well as car and home payments, you can consolidate your bills for ease and efficiency. You can do this by obtaining a personal loan or a debt consolidation loan. You would apply the money to pay off your individual bills and then you would be left with one or two main bills to pay each month such as your mortgage and your debt consolidation loan. Using this option can help to simplify your life and make it easier for you to remain in control of your finances.

Debt consolidation for beginners is simple and straightforward. Once you decide which approach you would like to take, you will be well on your way to consolidating your debts and streamlining your financial life. Speaking with a debt resolution company can help you decide how best to put debt consolidation to work for you.

Articles on www.debtplan.org have been acquired from a variety of sources. No content on this site should be considered financial or legal advice

Jobs in the technology industry have been on the decline nationwide and the state of KS is no exception. Last year Kansas lost thousands of high tech jobs and saw a marked increases in their unemployment rates. However industry experts project that many of the job losses will be downplayed by an influx of new technology jobs that will be introduced in the near future.

According to a study released by TechAmerica Foundation, Kansas lost thousands of high-tech jobs last year. The total job loss amounted to 6,100 and left the total number of high-tech jobs at 49,600 making Kansas the 28^th state for high-tech employment.

The reasons for the job losses are unclear but the downturn in the economy has been a major factor. Kansas has not been the only state affected by a decline of jobs in the technological sector. A recent analysis of the U.S. high-tech industry entitled Cyberstates 2011 reported that Missouri lost a total of 4,600 jobs bringing its total of tech jobs remaining to 89,000. According to the report, Missouri ranked 19^th out of all the states for most high-tech jobs.

Although the job losses were drastic, researchers project that new jobs in the technology field will soon be added to replace those that were lost.  Ed Longanecker, the executive director and regional vice president for TechAmerica stated ”Kansas followed the trend of most states in 2010 by losing tech jobs, but we believe there is reason for optimism that job growth will return going forward.” According to TechAmerica’s report earlier this year, the tech industry added 115,000 jobs across the nation. The report, based on information from the U.S. Bureau of Labor and Statistics, shows a positive trend in the technological sector with new jobs being added at a steady rate.

Unfortunately technology isn’t the only area in which Kansas is losing jobs. The amount of hospitality jobs has been steadily decreasing from the years 2006 to 2011. The total amount of hospitality jobs lost overall was 2,400 which show a decline of close to 2.1 percent. This data was also gleaned from a report published by the U.S. Bureau of Labor and Statistics. The hospitality sector includes jobs from hotels, motels, performing arts companies, casinos, bars, restaurants and professional sports teams. On the upside, the report demonstrated that in Wichita, the travel industry showed a one percent increase in the travel sector with a rise in hotel occupancy as well as increased airline travel.

Despite the loss of jobs in the technology and hospitality sectors, the economy of Kansas is still making slow and steady progress. Jobs in the technology department nationwide are slowly being added and hopefully Kansas will be able to take advantage of this recent activity. In addition the increase in economic revenue in the travel industries bode well for the economy of the state as a whole. Progress is slow but overtime, the rate of unemployment will decrease as the economy recovers.

Articles on www.debtplan.org have been acquired from a variety of sources. No content on this site should be considered financial or legal advice

Matching Tactics to Your Financial Goals
The Dollar Stretcher
by Gary Foreman
gary @stretcher.com

Last Saturday I went to the drag strip with some friends of mine. It’s an annual event for us. We’re a bunch of car enthusiasts who get to spend a day with some truly amazing equipment. For those of you who are not familiar with drag races here’s a brief explanation. Each race is a 2 car competition to see who can cover an 1/8 or 1/4 mile in the fastest time. They both start from a standstill.
An electronic signal tells them when they can go.

And then they explode off the starting line to cover the agreed distance (which is set at different legnths for different classes of cars). Huge tires spin trying to get traction. Smoke fills the air. The sound of the engines is earsplitting. An extraordinary amount of power is unleashed in just a moment. You can’t help but be impressed as these cars go from a standing start to over 200 miles per hour and cover 1/4 mile in just seconds!

There were some exceptions. Not every car was designed just to go as fast it could. Some were built with a sense of humor. For instance someone had a car that looked like a small railway engine. As you can imagine it attracted a lot of attention from the kids! I’m sure it goes fast, but that’s not it’s sole purpose. It was also meant to create a few smiles!

I had a great time. Always do. But, unlike my friend, who has been a drag racer since his teens, I tend more toward classic and custom cars. Which are an entirely different breed of car. They’re often restored to like new condition. Or, in the case of customs, modified into a work of art in sheetmetal. They’re driven with extreme care to minimize any chance of accidents or paint chips.

One frustrating thing about a day at the drag strip is the occasional car that has an equipment failure on the track. We saw one where the differential blew up and spewed grease for 1/16 mile. It took the clean-up crew the best part of an hour to make the track safe to use again. During those cleanup times you get to swap stories with your friends and other spectators (some of the stories are even true!) or go down to the concession stand to pay for an overpriced hotdog and drink.

Sometimes in those quieter moments I tend to think of how life illustrates our finances. This happened to be one of those cases.
It occurred to me that just as dragsters and classic cars are different and well-suited to their purpose, so should our financial tools and methods be chosen for the goal we want to achive. Let me try to draw an analogy that makes sense.

You’d be foolish to take a classic car that took years and many dollars to restore and run it on the drag strip. One trip could ruin paint you spent hours polishing or break parts that you can’t replace. That classic car’s purpose isn’t to go fast. If your goal was to go fast you’d be much better off to use a dragster. It is designed to accomplish your purpose.

The same thing is true of our finances. We need to know what our goal is before we decide which method to use. Take, for instance, our desire to get out of debt. We’d like to use a dragster to solve the problem. A quick burst of effort and the whole deal is over quickly. But, conquering debt doesn’t work that way. Chances are we built up the debt over years and years. We’re not going to get rid of it overnight. It’s going to take a longer, more dedicated effort to keep on repaying past debts for months and even years. More like our classic cruiser than the dragster.

We’ll need tools that can help us select which debt to pay first. Ways to keep track of what progress we’re making month by month. Even some rewards as we hit the quarter and half-way point to keep us motivated to continue pushing to our goal of being debt-free.

Just like the cars, we need to be tuned differently too. We all know someone who starts a financial program with a lot of tire smoke. And they travel the first quarter mile quickly. But then they lose interest and don’t make any real progress towards their goal.

It’s not how much enthusiasm we bring to the starting line that counts. Rather it’s the determination to continue to journey even when it’s tough to go on. When events make it hard to stay the course.

On the other hand our goal may be to get the best deal possible on a new refrigerator. This time we need to select tools and techniques that will help us right now. Knowing where to find reviews, looking for discounts and brushing up on how to negotiate are all immediate activities. This time the amount of energy we bring to the task today is really important. Much like the dragster taking off. A cruiser will not get the job done. We need our tools to work together right now.

So as we set financial goals, both now and as part of New Year’s resolutions, don’t forget to make sure that you’re driving the right financial tool or technique. Failure to get this right could leave you standing along the money highway waiting for a tow truck!

Keep on Stretching those Dollars!
Gary

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Gary Foreman is a former purchasing manager who currently edits The
Dollar Stretcher website . You can follow Gary on Twitter . For more on goal setting. Source: Matching Financial Tactics to Your Goals

Articles on www.debtplan.org have been acquired from a variety of sources. No content on this site should be considered financial or legal advice