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Student Loans, Credit Card Debt
& National Debt Videos |
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 Responsible
Credit Card Use - Debt Reduction Lessons
June 25th, 2007
Credit cards are not as bad as you think they
are. I'm going to give you 7 tips for responsible
credit card use so that you don't get burned
by credit cards.
Tip #1: Never
charge more than you can afford. Now I know
this seems obvious but its very easy to get
a lot more credit than you can really afford
to pay back. Do not go on a spending spree and
max out your credit cards, because you will
have trouble repaying it back. (View
Full Video)
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 Record
Credit Card Debt v/s Economic Independence
June 25th, 2007
Credit card companies keep flooding our mailboxes
with 4 billion Credit Card offers a year. Banks
alone have made $3 trillion of credit available
on their credit cards. The average American
household is $9205 in credit card debt and spends
over $1300 a year in interest payments.
President George Bush
quotes: "American's ideal of freedom
fits when Americans' find the dignity and security
of Economic Independence, instead of labouring
on the edge of subsistence." (View
Full Video)
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 Student
Loan Debt - Denying the American Dream
June 23rd, 2007
20 years ago, the Federal Grant program used
to cover 60% of a student's tuition fees, now
it's at 33%. Many students after graduation
have to put off starting a family, buying a
car/house because of stagerring levels of student
loan debt. Unfortunately, we are no longer seeing
the goal and purpose of higher education, that
is to build the American dream. Instead we are
seeing huge levels of debt. In the long term,
I don't think higher education will be accessible
to everyone qualified. The doors to higher education
are becoming closed for many people. (View
Full Video)
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 Get
Real and Get Out of Debt
April
15th, 2007
Now i want to define "DEBT" for you. Debt is when you owe INTEREST to a lender, as simple as that. Now for you my
friends who are first time home buyers thinking
"Oh Boy, its an asset!",
it is really a form of debt! Why? That's because
you owe interest on this house!
And the interest that you owe is for 360 months,
or 30 years. Some of us finance our houses with
0% down, but what you really want to put down
is 20%! For some of us in Silicon Valley, it's
impossible! With townhouses and condos selling
for $700,000 it really is hard. Remember again,
when you buy your house for the first time, it
is NOT an asset! It is a debt!
It is a liability because you owe the lender,
an Interest. Whatever that interest is, you might
be lucky to get a 6% mortgage interest while others
may not be so lucky because they may have got
9% mortgage interest rate. (View Full Video)
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 Record
High Consumer Debt
April
10th, 2007
For the past 30 years, banks have been allowed
to charge sky high interest rates on debt owed
by their customers and no limit on fees charged.
Banks can therefore charge their customers whatever
fees or interest rates they like! Out of the 50
US States, 31 of them institute no restriction
on the % of fees that banks charge or the interest
rates. The states with the least consumer protection:
California, Delaware, South Dakota & Tennessee. (View
Full Video)
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 The
Debt Trap
April
1st, 2007
1 in every 60 households in USA filed for bankruptcy
in 2005. There's a major chance that someone in
your family, a neighbour down the block or your
co-worker is filing bankruptcy. It's not just
an American problem either, Scotland experienced
a 33% rise in mortgage delinquencies in 2005 while
for every $100 Australian earned, they owed $130
in debt. (View Full
Video)
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