A Penny Saved

How we all want more! It can be so hard to be content with what we have. We see our neighbors and friends with things - a new car, a nice house, a beautiful garden, a great vacation. And a little bit of envy creeps in. It’s hard to stay in budget when everyone around us isn’t staying within theirs! But envy or covetousness is a cruel master - it is never satisfied. It always wants more, and in the end, it can consume us. The news is filled with individuals who all wanted a little bit more and now it is destroying them (think Ed Mcmahon among many others). Contentment is priceless.

“You shall not covet your neighbor’s house; you shall not covet your neighbor’s wife or his male servant or his female servant or his ox or his donkey or anything that belongs to your neighbor.” (Bible, Exodus 20:17)

Debt is something that we’re all familiar with.  Nearly everyone has some sort of debt, whether it’s a mortgage, car loan, credit cards, even hospital bills.  No matter what the source, just about everyone makes monthly debt payments.  It’s no fun, and sometimes it can be overwhelming.

In the case of credit card debt, things can get out of hand pretty quickly.  If you’re not careful, you can quickly find yourself in over your head with those shiny little plastic rectangles.  It’s nothing to be ashamed of really - I’ve been in pretty serious credit card debt before myself.  Just because you made some bad choices in the past doesn’t mean you’re doomed to a terrible financial future.  If you need credit card help, there are companies that can help - and NetDebt is one of them.

What does NetDebt do?

To put it simply, NetDebt offers a debt solution.  In other words, they help you consolidate and manage your credit card debt.  Rather than making 12 monthly payments that add up to a small fortune, you make one, smaller, monthly payment.  NetDebt retains a lawyer on your behalf as well, to help with debt settlement.  Why would a credit settle for just part of the debt you owe?  Simple.  If they can get part of the debt, it’s much better than getting none of it.  If you’re overwhelmed with debt and many payments every month, you may be tempted to give up and look at bankruptcy.

How about cost - it can’t be free

And you’re absolutely right - NetDebt is not free.  The lawyer that they retain on your behalf charges a fee equal to 15% of the debts that you include in the program, and there is also mention of a “small monthly fee”, though not a specific number.  You’ll have to decide for yourself if you’re comfortable with paying the fees involved.

Is NetDebt for me?

If you’re just about to throw in the towel and file for bankruptcy, maybe.  If you’re having trouble keeping up with your multiple credit card payments, maybe.  Naturally if you can handle your payments and pay off your debt alone, that’s the best case scenario.  With NetDebt, any credit cards you include in the program will be closed - so you can’t use them and rack up any additional debt.  There are fees involved, and drawbacks.  Take your time, do your homework, and make sure that you know what you’re doing.  NetDebt can be a great help in certain situations - as long as you’re aware of what the program does and does not do. 

We all need good counsel from time to time. It’s not good for us to always “go it alone” by relying just on ourselves. We need help. But we need to be careful where we get our advise.  There’s a lot of bad counsel, especially financial, that is floating around. Even when we pay “trained professionals” we need to be careful. We need to choose counselors based on not just their ability, but also if they share our value system and beliefs.

Get the help you need-but choose wisely!

“He who walks with wise men will be wise, but the companion of fools will suffer harm” (Bible, Proverbs 13:20).  

Many people have money problems, but even more I believe have wisdom problems. When financial problems arise, you will see a lot of people wishing or praying for money - but the first thing they should be wishing or praying for is wisdom. Wisdom is the key that will open doors for you in life. Wisdom is the most important thing in the area of finances if we want to make sound financial decisions, and furthermore, wisdom is the key to all areas of our life.

You can give a person money, and it won’t take long until they can lose it all (i.e., lottery winners, certain pop divas, sports stars, etc.). But if you give a person wisdom, they will not lose it, and it is more valuable than gold or silver.

“How blessed is the man who finds wisdom, and the man who gains understanding. For its profit is better than the profit of silver, and its gain than fine gold”  (Bible, Proverbs 3:13, 14)

Sometimes it pays to go against the flow, to head in the opposite direction of the crowd. To be contray. Most of us know that if you wait until spring, when everyone else is buying lawnmowers, it can be a great time to purchase a snowblower. Or, when it is late fall and everyone esle is buying snowblowers, it can be a great time to purchase a lawnmower. The same goes for clothes (coats in spring, swimsuits in fall). Or maybe you really should buy that truck or SUV now since they are out of favor (and prices are being slashed)?

This can also be true in the stock market.  In my reading, I see financial writers telling people to invest in other things right now since the stock market is not doing well. To me, if people are heading out, it may be a good time to head into stocks. Or maybe since the home market is in shambles, could be time to investigate real estate.

The bottom line I guess is to be wary of the herd mentality. Just because eveyone else is heading a certain direction does not mean you have to also. It’s not bad to be a little contrary!