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5% apr student credit

As gold topped $500, the news became front-page across the country, and radio and TV financial programs led off talking about the price of gold.

Invariably, all noted that gold had reached nearly a two-decade high. Yet it is doubtful that any of the reporters assigned to the story really grasped the importance of gold topping $500.Further, few reports dared suggest that the price of gold could climb still higher. Gold stands a good chance of seeing higher prices before the inevitable price correction, which always follows such a strong move.Most reports saw $500 gold as a novelty, not the ominous sign that something is drastically wrong with the state of financial affairs in the United States. The truth: gold is responding to profligate spending in both the government student 5% apr credit and the public sectors. Further, gold is rising because of the massive inflation by the Federal Reserve under Alan Greenspan. Let's take a brief glance at only one reason for gold's jump above $500: federal spending.The federal government now has more than $8 trillion in official (on the books) debt. Only three years ago, gross public debt stood at $6 trillion. For those calculating, that is a one-third debt increase in only three years. The United student apr 5% credit States took 226 years to run up a debt of $6 trillion. In three years, an additional $2 trillion was tacked on.According to The Privateer, present projected spending will push the official debt to $11 trillion before the end of Bush's second term. If this becomes reality, in only eight years the official federal debt will have nearly doubled. Additionally,5% apr student credit there are the "off-books" liabilities.Unfunded U.S. government liabilities—Social Security, Medicare,5% apr student credit Medicaid, military pensions, federal workers' pensions, and other promise such as picking up the tabs for bankrupt corporate pensions—will reach $50 trillion by the end of the year 5% apr student credit and climb to $70 trillion by the end of Bush's second term.The official debt is the accumulation of years of federal deficit spending. This fiscal year's deficit (October 1, 2005 thru September 30, 2006) is projected to be $521 billion. Deficit spending looks to get worse.Pulling statistics from the respected Congressional Budget Office's January report on the federal budget and economy, Citizens for Tax Justice show annual deficits under Bush policies skyrocketing to $1.164 trillion by 2015. These projections are seven times the Bush administration's numbers because the White House assumes, among other things, that current tax cuts "sunset," that Iraq and Afghanistan expenditures will suddenly end, and that federal appropriations will "plummet" as a share of the economy.The Congressional Budget Office forecasts that by 2013 "the government is likely to be spending more to pay interest on the debt than on all domestic appropriations put together." Any wonder the price of gold topped $500?It appears unlikely that the problem of deficit spending will be addressed any time soon in Washington. Sadly, our lawmakers do not yet even see it as a problem. While it is true that Democrats never miss an opportunity to carp about Bush's refusal to "roll back" his tax break for "rich Americans," the Democrats would be as quiet as church mice if the deficit spending were for welfare programs. Either way, the results would be the same: continued deficit spending.The way gold topped $500 was a big deal because the price of gold is the thermometer for the health of a nation's currency. A rising price for gold suggests a fever is building. However, the reporting suggests that few reporters understand the United States is infected with a deadly virus, not a common cold.2

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Debt elimination needs a bit of financial management. Analyze your expenses and the debts that you have taken. This will help you in debt elimination. The debts can be classified as short-term loans, medium term and long-term loans. Short-term loans are loans, which must be repaid within a year. Medium term loans are those, which have to be repaid within 1 to 10 years, and long-term loans are the loans, which are longer than 10 years. Even the payment that is unpaid on the credit cards qualify for the debts that you have. Many people have the tendency to pay only the least amount. The remaining portion is then charged a rate f interest, which is on a compounding basis. Thus credit card dues should be paid in full

It's difficult to eliminate long-term loans; it's certainly possible to eliminate short-term loans. Stop buying and spending on credit in short term. This will lead to short term debt elimination. For example don't buy groceries on the credit card. This will automatically lead problems, this advice will be useful for you. Use cash to buy and use coupons for getting a few dollars off on various products. Thus there will be less credit card bill at the end of the month. Use a credit card only when you must.

It's a great policy to save and then spend. If it makes you a miser, so be it, at least you won't go bankrupt paying your debts. This is also one of the ways of debt elimination. By not having debt in the first place, you are doing yourself a favor. Therefore make it a point to do debt elimination whether you are home or office, only in this way can you rid yourself of debt. "Only when I have cash will I spend" should be your motto for all the transactions in your personal as well as professional life to the maximum extent possible.

A financial plan is for those who want to structure their future. Although you cannot ‘plan’ the future, you can at least think about it. And that is what a financial plan supports you with.

Here are some simple steps (A spreadsheet will help you a lot...):

One - Income. Start with your current income. Analyse the growth rate if this income of previous years and calculate an average (growth rate). If you use a spreadsheet you can use a first line on the income sheet and add for each next line the increment in salary and other income. You can place YEAR in the first column. Than have the spreadsheet calculate your income until the age of your retirement.

Two - Expenses. A next sheet could be dedicated to expenses. You can analyse this up to any level, but the main idea is that you understand how many percent of your income is spend on normal and extra expenses, taxes and what percent is left for savings. In order to plan you need the get clear what percentages are dedicated to what category (see the next step). The financial plan stops here if there are no structural savings...

Three - Possessions. What have you built up previously? You can choose to balance this with (long term) debts like a mortgage, but to keep it simple you can leave this out. This first line is about historic data. You will have to calculate the next (Years) by adding income, and deducting (future) taxes and other expenses. Investment returns fall also in this category. What kind of a yield (rate) do you plan for your future investments?

Four - Scenarios. This sheet is where financial planning is all about. You want to plan. And therefore a (personal) financial plan is not any different than a project planning. You want to discuss possible scenarios with other stakeholders (for example with your partner). Scenarios are about questions like; “when could we stop, can we take a sabbatical,” or other questions starting with; "what if..." Things you need to know in advance. You need to anticipate. This, because you have to steer the scenarios with some kind of investments.

The last step is about realizations. Setting up a financial plan is very easy, although you can make it as complex as you would wish. If your investments grow less than planned, you need to take (additional) actions.

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