Daily news: Money Talk US Debt Clock 9,173,414,753,999 dollars

Wow, 9,173,414,753,999 , it is about 30,199.46. per person if we have population aprox. 303,760,921.

This is in Country View, but what about your personal Debt? How do you manage our own money?

As we all know, it is so difficult to put together few dollars, and so easy to spend.
Few tips on what right or not so right thing to do with your money.

1. Credit Cards, never max up your one credit card. It is always better to spread your debt in few credit cards, up to 30 % of limit on each, if possible, if not up to 50%, but not more. Why? this way it will not hurt your credit report in long run.

Best way, paid off your credit card every month, or have Debit card from your bank.

2. Mortgage, pay on time always. ( great advice!)

3. Buy or Lease New Car and Used Car.

a. Old car never lease, buy for cash or finance.

b. New Car: there is 3 ways to do it:

Lease, Finance, Cash.

Each of those choices are possible, but one of them are best and one of the are worst way to get a new car.

Best way to get a new car if you are planning to use it for over 3 years, like 5-7 years, it is to buy with cold cash ( if you have), even if you are still planning to use this car over 5-7 years and u don't have Cash, your best way will be go with lease for just 36, 39, 42, or 48 months but not to finance.

Lease will be the second best way to do it. Just remember not to overuse mileage.

The worst way to do it, is to finance your new car.
Following samples payments you will have:

Lease 500 per month
Finance: 575-600 per month,
Cash: nothing.
these samples are with 0 down.

This days new cars are getting better and better, so, it will be very possible to have car over 5 years and have no problems, unless you just got tired of it and want car with navigation system!


that's my spot.