In This Issue...

• I Must Have Really Struck a Nerve...
  I never thought it would hit home with our readers the way it did. It was really kind of personal, wasn't it? Here's what I'm talking about.
  Keep Reading >>>
  
  
• Whatever You Do ... Don't Save Any Money
  No, that's not a misprint. Even though falling interest rates are good when you want to get a loan, they are bad for people with savings accounts.
  Keep Reading >>>

I Must Have Really Struck a Nerve

I never thought it would hit home with our readers the way it did. It was really kind of personal, wasn't it?

Here's what I'm talking about:

Last week I sent out this letter to all of our friends, customers and subscribers to Make This Year Great - SmallBiz News.

Since it was about a little different (and more personal) topic than usual, I was kind of worried how you might react. But, the response was incredible.

I found out that a WHOLE LOT OF PEOPLE are interested in how they can keep more of their own paycheck.

So, as a result of your terrific feedback, I'm going to do two things...

FIRST: Over the next several issues, I'm going to publish a series of articles on hanging onto your money and improving your life. You can find the first article in this series below.

SECOND: If you took advantage of the very special offer I made last time, congratulations - you are on your way and feel great about it.

If you didn't have a chance to look at this, or if you'd like to take another look before the special offer I've arranged for you expires, check it out here.

Basically, it shows you how to finally get control of your personal debt, and get rid of it -- and here's what's amazing, it can be done very quickly.

And this is no hare-brained scam or tricky legal manuever. This is totally above board and like nothing you've most likely ever seen before.

It could very well mean a lot to you during your lifetime and your family's lifetimes too.

Check it out now.

~ FEATURED ARTICLE ~

Whatever You Do ... Don't Save Any Money

No, that's not a misprint. Even though falling interest rates are good when you want to get a loan, they are bad for people with savings accounts.

In this economy your best investment, the best place to put your money is into paying off debts. Think of it as investing in your debt because that is exactly what you are doing.

If you put $1,000 into a bank savings account earning 2%, at the end of a year you will have $1,020.

If you carry a $1,000 balance on a credit card with a 19% interest rate, and you pay the minimum monthly payments, at the end of one year you will have paid $190 in interest.

If you get $1,000 in a tax refund, small inheritance or from somewhere else you now have a choice to make. You can earn 20 bucks in a savings account or save $190 by paying off that credit card. Keep in mind that your 20 bucks is taxable income so you'll be left with $15 or so after taxes.

Do you need a savings account for emergencies? That savings account may be causing those emergencies! Think about it this way...

If you are earning money in a savings account at 2% and paying anything over 2% on your debts you are sliding backwards financially and you'll never get ahead. It's basic mathematics.

If you earn 20 bucks for five years in your savings account you'll have $100. If you pay $190 in interest on your $1,000 credit card after five years you will have paid $950 in interest charges.

In other words you have wasted, lost, burned or flushed $850 by having a savings account. ($950 - $100 = $850) OUCH!

What can you do? Pay off that credit card and use that as your emergency fund. It's not the best way to do it but it's better than earning 2% and paying anything over 2%.

So, while the stock market is on it's roller coaster and the economy is challenged, your best investment, bar none, is your debts! Get them paid off!
***********
Leo J. Quinn, Jr. is a financial educator from the Albany, NY area. For the last eight years he has been stunning audiences by showing them that paying off their highest interest rates debts first and/or paying extra on more than one debt is often the SLOWEST way to get rid of those debts. He has a special offer for readers of this newsletter. Keep Reading >>>

All the Best for 2005, Richard Beaty

Leigh Beaty

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