OOPS! The Credit Card Bill Arrived!

OOPS! The credit card bill has arrived. Summers over! We're all back to work, the kids are in school and the Credit Card bill for the summer fun has just arrived. OOPS! Are you paying off the total bill when it comes dues or making the minimum payment? At Current Credit Card interest rates of 19% paying the minimum can take years to get out of debt. There has to be a better way. Learning how to manage debt and getting out of debt sooner should be a priority of every Canadian. Unfortunately, making an appointment with a financial planner to discuss debt management is about as much fun as making an appointment with the dentist or having a colonoscopy. Just like going to the dentist meeting with a financial planner is a necessity. Making that appointment can save thousands of dollars in interest payments, make getting out of debt sooner easier and provide a level of peace of mind that will actually let you relax and not be driven by the stress of your debt load. Being better informed allows you to make better decisions about how you get into debt and how you are going to get out. A lack of knowledge or poor advice often created the problem in the first place. Fortunately it is not an incurable disease, it just requires getting the right information and applying it effectively. Reducing interest payments by 90% and paying off debts in less than half the time is not out of the realm of possibility. If you are stressed by debt and don't know how to get a handle on it, why not consider calling a financial planner and asking for a consultation. Here are some criteria that may help you make the right choice in a financial planner. The first visit should be free. You need to ask for credentials, i.e. are they a Certified Financial Planner in good standing with the FPSC. That is the governing body for CFP's in Canada. Ask what their fees are and get it in writing. Do they have the expertise to assist with all facets of financial planning, i.e. debt reduction as well as wealth accumulation, estate planning and risk management. If you get satisfactory answers to these questions you can safely move to the next step. It's never too late to start, take the time to do it now, it could be the most important step of the rest of your life.

Satchel Page's 100 Birthday

July 7th 2012, was the one hundredth anniversary of Leroy Robert (Satchel ) Page’s birth . Considered by many to be the greatest pitcher ever to play baseball and the oldest rookie in Major League Baseball at age 42, Satchel had been playing baseball all his adult life in the Negro league, but is wasn’t until the mid forties when blacks were finally accepted into major league baseball that he made it to the"Bigs". He played another 15 years including two all-star games in the early 50’s. Satchel was also famous for some of his sayings. I have one of these on the wall of my office "How old would you be if you didn't know how old you are?" "Age is a question of mind over matter. If you don’t mind, it doesn’t matter." These are the six rules that Satchel lived his life by. These still apply today: 1. Avoid fried meats which anger up the blood. 2. If your stomach disputes you, lie down and pacify it with cool thoughts. 3. Keep the juices flowing by jangling around gently as you move. 4. Go light on the vices, such as carrying on in society. The social ramble ain’t restful. 5. Avoid running at all times. 6. Don’t look back. Something might be gaining on you. Hopefully these will make you chuckle and smile. Remember Satchel and enjoy your day.