Drug testing


We all know about debt. If you don't have too much as an individual you can increase the quality of your life, but with more than you can handle it can make your life a nightmare.

There are two kinds of debt. Usually it is personal and used to buy a depreciating item such as a car or entertainment. Today a car has become a necessity, but it doesn't mean you have to buy a new one every 2 years or one that is beyond your means. It should be thought of as transportation.

The second kind of debt creates an asset that produces income that will more than pay off the debt. For a business this can be a truck, a new machine, even a new building for office or production. A person may borrow money to continue education so there can be career advancement. Money borrowed for production is very healthy.

A mortgage is a necessity and can be classified as creative debt. You have to live some place so you have a choice of rent or mortgage payments. Most everyone prefers the latter as it creates an asset as well as shelter.

Before taking on any type of debt it is wise to determine the risk. Debt creates risk. For personal noncreative debt you must consider your income that will allow repayment of the obligation especially if it is one that has no value to anyone else such as a vacation or flying lessons. Do not borrow money to go to the racetrack or gamble in the stock market. The first consideration when borrowing is what will happen if I can't make the payments? Will what I have purchased have any remaining value that can be sold to reduce the balance remaining?

If the balance cannot be repaid you want to do everything possible to avoid bankruptcy as that can haunt you for the rest of your life. Debt consolidation is sometimes a solution. For a business there is a preliminary bankruptcy that allows the court to appoint a special manager to watch over even run the business until it is back on its feet or declared defunct.

The world as we know it swims in a pool of debt. Business today could not survive without some form of borrowing nor could the consumer have all the conveniences that make living a pleasure - washing machines, TVs, air conditioning, garage door openers, can openers, computers just to mention a few most of which are obtained with the help of a credit card.

Keep in mind the 2 kinds of debt - the kind that creates an income producing asset and the kind that does not. You must decide how much of each you can afford.

There is nothing wrong with debt as long as it is used intelligently.

Al Thomas' book, "If It Doesn't Go Up, Don't Buy It!" has helped thousands of people make money and keep their profits with his simple 2-step method. Read the first chapter at http://www.mutualfundmagic.com and discover why he's the man that Wall Street does not want you to know.

Copyright 2005

al@mutualfundstrategy.com; 1-888-345-7870

limousine chicago service
In The News:

Eliminating Credit Card Debt

The overwhelming task of eliminating your debts can often seem... Read More

Ten Ways to Get Out of Debt

1) Use your AssetsIf you have assets with some significant... Read More

Debt Free and Carefree

Are you still clearing a mountain of debt amassed last... Read More

Tips To Take Control Of Debt Collection

Yes, debt collection tips can help. You may think you... Read More

The ONE Law You Should Be Breaking

There is a law all smart people break.Parkinson's law.Parkinson's law... Read More

Bankruptcy 101

Bankruptcy still remains a mystery in the eyes of many... Read More

Student Loans Can?t Be Swept Away Through Bankruptcy

Bankruptcy is in the news these days, as Congress has... Read More

Credit Repair? Its All Up to You

Log onto to a search engine such as google.com and... Read More

Solutions to Single Mothers in Debt

As a single mother, lets admit it, times get tough.... Read More

Credit And Debt Relief--A One Stop Solution

Amy Wright, 34, was extatic when her realtor showed her... Read More

Is Debt Negotiation Bad?

Educating yourself about the ins and outs of debt negotiation... Read More

Use A Debt Checklist To Examine Where You Are

A Debt Checklist allows you to look at items and... Read More

4 Simple Ways to Solve Your Debt Burden

Getting Behind Getting behind on your debts owed can be... Read More

What the Mail on Sunday Said

Anyone considering Bankruptcy may have experienced fear after reading an... Read More

Bankruptcy: What the New Law Means to You

On April 20 of this year, President Bush signed a... Read More

Bankruptcy: Who is to Blame?

If you are considering bankruptcy as a solution to your... Read More

Help for the Single Mother with Managing Credit and Debt

Today's consumers benefit drastically from the usefulness of credit. Credit... Read More

You Can Make Financial Resolutions Anytime

The New Year often brings with it a desire to... Read More

Debt Settlement : What You Need To Know

Debt Settlement companies work with your creditors to help you... Read More

The First Step To Getting Out Of Debt: Make The Commitment!

These days, getting into debt is easy.Unfortunately, getting out of... Read More

How to Protect Yourself: Debt Collections

So you are getting collection calls? You're desk is full... Read More

Bankruptcy: Which Chapter Do I File?

There is more than one kind of bankruptcy. You should... Read More

Bank Like a Banker

The business of banking has changed dramatically over the last... Read More

Learn How to Get out of Debt

Debt is becoming number one problem in the United States... Read More

New Bankruptcy Law ? Five Essential Things to Know

Last April, Congress passed the Bankruptcy Abuse and Consumer Protection... Read More

roadway induction street lighting standards Pete's produce ..