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The Fastest Way To Pay Off Debt Oct 01

By Kristine McKinley

There’s some debate among financial planners as to the best way to pay down debt. Some say paying the highest interest rate debt first is the best way; others say paying the smallest balance first is the best way.

Both methods have advantages and disadvantages, so we’ll take a look at both, and help you decide which method is best for you.

Method #1 – Highest Interest Rate

In this method, you focus on paying off your highest interest rate debts first. The basic steps in this method include:

1. List all debts in order from the highest interest rate to the lowest interest rate.

2. Commit to paying the minimum payment on every debt.

3. Determine how much extra can be applied to the highest interest rate debt.

4. Pay the minimum amount plus the extra amount towards the debt with the highest interest rate until it is paid off.

5. When that debt is paid off, apply the amount you were paying to the debt that is paid off to the next highest interest rate debt until paid off.

[youtube]http://www.youtube.com/watch?v=REdhvCviIzE[/youtube]

6. Repeat until all debts are paid in full.

This method is the best method mathematically, as you will pay less interest in the long run.

Method #2 – Lowest Balance

In this method, your focus is on the debt with the lowest balance. Note: this method was made popular by Dave Ramsey and is often called the Debt Snowball method.

The basic steps in this method include:

1. List all debts in order from the smallest balance to the largest balance.

2. Commit to paying the minimum payment on every debt.

3. Determine how much extra can be applied to the smallest balance debt.

4. Pay the minimum amount plus the extra amount towards the debt with the smallest balance until it is paid off.

5. When that debt is paid off, apply the amount you were paying to the debt that is paid off to the next smallest balance debt until paid off.

6. Repeat until all debts are paid in full.

This method may not be the best method mathematically, as you will pay more interest in the long run. However, this method allows you to pay smaller debts off faster, which may give you the motivation you need to stick to your debt payment plan.

So, which method is best for you? It depends

Method #1 is best for you if:

* You have debts with similar balances

* You have discipline to stick to your debt repayment plan

* You are a numbers person, and you realize the benefit of paying off the highest interest rate debt first

Method #2 may be best for you if:

* Your debts do not have similar balances – i.e., you have a $500 credit card balance, a $12,000 credit card balance, and several in between

* You need motivation – paying off the smallest credit card balance may be the motivation you need to stick to your debt repayment plan

* You don’t mind paying more interest over the long run in exchange for getting rid of smaller balances first

Tip: Why not use a combination of the two methods? Using a combination of both methods allows you to feel a sense of accomplishment by paying off that first debt (the smallest balance credit card), and gives you the motivation to start working on the next debt (the debt with the highest interest rate).

Remember, the method that works best for you is the one you will actually use. The most important thing is to make a plan and stick to it so you can live debt free.

About the Author: Does credit card debt have you stressed out? Get your most urgent ‘how to get out of debt’ questions answered in this free teleseminar,

‘Your Top “Get Out of Debt” Questions Answered’

Kristine A. McKinley, CFP, CPA, and founder of

Beacon Financial Advisors

, teaches individuals and families how to invest and plan for retirement, college, and other financial goals.

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U.S. actor Charlie Sheen questions 9/11 theories
Sep 30

Thursday, March 30, 2006

Charlie Sheen, appearing on cable television news network station CNN on March 24, questioned the credibility of the theory that 19 hijackers caused all of the destruction to the World Trade Center.

Sheen said; “It seems to me like, you know, 19 amateurs with box cutters taking over four commercial airliners and hitting 75 percent of their targets, that feels like a conspiracy theory… I am an American citizen that loves my country…. People want the truth. They want the truth. And what’s been offered to us resembles nothing of the sort.

In recounting his reaction on the day of the event, Sheen said,”I was up early and we were gonna do a pre-shoot on Spin City, the show I used to do. I was watching the news and the north tower was burning. There was a feeling, it just didn’t look like any commercial jetliner I’ve flown on any time in my life and then when the buildings came down later on that day I said to my brother, ‘Call me insane but did it sorta look like those buildings came down in a controlled demolition?’

Writer Marc Jacobson, of the New York magazine, who co-appeared with Sheen on the same program said in response: “Well, I think he’s doing a reasonable rendition of what other people that believe in this stuff say. And when he says he has his facts straight, I mean, I think the facts are in question. I mean, I think, just because you know what it says on all of these different Web sites doesn’t mean that that’s necessarily the fact. That’s the reason why the United States government, with their endless amounts of resources, let us down by not doing the proper work on the 9/11 Commission. That’s a real problem. Well, you know, but, I mean, it’s just one of those kind of things where you do this work and nobody really cares, but then Charlie Sheen is interested, so then everybody is interested, and that’s fine. You know, obviously, this material needs to be looked at again, because there’s been a lot of problems with the 9/11 Commission report. People feel it’s not adequate. Most of the people who had lost people during that time feel it’s not adequate. And it’s just I think we’re living in a truth vacuum, in a sense, that any time there’s a truth vacuum, these ideas — because people are smart. They put two and two together. Sometimes they get five; sometimes they get 12, but sometimes they get 11, like 9/11, but sometimes they get four. And the thing is that, if you have a situation where the so-called facts are covered up and aggressively covered up, then you’re going to get these conspiracy theories.” One website is claiming that Google had been censoring out any news articles relating to Sheen and 9/11 from it’s search engine.

Regarding the plane that hit the Pentagon, Sheen also has questions: “Just show us how this particular plane pulled off these maneuvers… It is up to us to reveal the truth. It is up to us because we owe it to the families, we owe it to the victims, we owe it to everyone’s life who was drastically altered, horrifically, that day and forever. We owe it to them to uncover what happened.

Some supporters of Sheen’s theories have complained about the lack of mainstream media coverage. They point to CNN’s recent cancellation of Ed Asner’s interview on Showbiz Tonight, where he was expected to support Sheen’s position, as an example of the “media blackout”.

Marina Hyde of The Guardian proposed a theory of her own with regard to Sheen: “Frankly, with dentistry as expensive as yours, you simply can’t afford to let The Man stamp his jackboot down on your face, and so it is that when faced with the inquiry ‘did Lee Harvey Oswald act alone?’, you find yourself thinking: ‘God, I mean… do any of us? Like, he had to have people, you know? At least an agent and a publicist.'”

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Scottish lawyer denies death of Lockerbie bomber Abdelbaset Ali al-Megrahi
Sep 30

Wednesday, October 21, 2009

A Scottish lawyer today denied reports that Lockerbie bomber Abdelbaset Ali Mohmed Al Megrahi had died, after it was reported on Sky News earlier today that “unidentified sources” had said that he was dead.

The reports came onto Sky News at around 16.00 BST today. The information could not be confirmed, and it was not immediately clear where Sky News had obtained their information. Megrahi is suffering from terminal prostate cancer. Scottish Cabinet Secretary for Justice Kenny MacAskill MSP decided on 20 August 2009 to grant Megrahi compassionate release from Greenock Prison in Glasgow, Scotland and to allow him to return to Libya, after medical advisers reported that he was likely to die in just three months.

On Wednesday, Megrahi’s lawyer, Tony Kelly, responded to the claims made, saying that “it’s absolutely untrue. He’s definitely not dead. I’m not saying anything about his health condition other than the fact he is alive and breathing.” He declined to release any information about Abdelbaset’s current health condition. Following these comments, Sky News removed the information from their website.

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Wildflower Honey From Greek Farms That Embodies A Mixture Of Floral Sources Sep 27

The medicinal value is too high. From memory power enhancement, to better cardiovascular functioning, there is quite a lot of benefits that you can associate with the regular intake of the Imported Greek Honey. Yes, the sources are from Greece, pristine mountains, though. The Easter menu of Greece people will include inevitably the roasted lamb that is seasoned with some of the variety of Herbs and spices. Without this the celebrations may not going to be as delightful as ever According to the belief of some local people out there in Greece. So how do they prepare this roasted lamb with variety of main ingredients inside? In fact, the religious and holiday celebrations of the Greek people are orthodoxies. These people are observing many fast days during the special days of the year. Other than that, there are days where they will not eat any meat. There are strict dietary rules to be followed during the holy week just ahead of Easter. Especially for lent some of them do not eat any kind of dairy products, fish or meat. Therefore, the menu for those times will be quite different from the other types. Lambropsomo or the Easter bread is also prepared in a delicious manner using some of the wonderful spices. The honey that is available for you here is something extraordinary. That is a major ingredient for the taste of these types of special dishes that are made in this part of the world. Some of the fruits and vegetables that are dipped in Top rated olive oil can taste better. The medicinal value of these fruits and the olive oil together makes it to be a superior dish to be served to the guests in the preeminent hotels and restaurants of the world. Yes, the menu without these Greek dishes would simply be inadequate or incomplete for the guests who are visiting the high-class hotels for high quality Mediterranean food items in particular. So, how do you find the best resources online to procure the Top rated olive oil? It is simple. You do not have to waste time digging deeper into the library resources online to find the superior quality olive oil or the suppliers in the market. At the same time, the quality varies quite a lot from one supplier to the other. You can get olive oil for barely minimal costs in very many other parts of the world too. It may be sold for rock bottom prices for the simple reason that the quality of the oil is not reliable. If you are interested in seeing the best results then you should pay the price and that is the reason why consumers choose to buy the Top rated olive oil from the reliable suppliers in the market. Online shopping helps them to do the procurement easily and also they get the original supplies in quick time.

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Arson charge for man who cleaned home with gasoline
Sep 26

Wednesday, April 8, 2009

Ernest Krajniak from Chilton, Wisconsin in the United States has been charged with arson after a lit cigarette ignited gasoline soaked clothes, setting his apartment ablaze.

On Friday April 3, Krajniak, 47, cleaned his entire apartment with about five gallons of gasoline, wiping everything down with the soaked clothes. After he was finished, he piled the soaked clothes in the center of his bedroom, lit a cigarette and then threw what was left of the still lit cigarette, into the pile.

Krajniak never called the fire department and never pulled the alarm. Instead he yelled ‘fire’ a few times then walked to the police station where an ambulance took him to a local hospital for the treatment of minor burns. The fire department later arrived to put out the blaze and his apartment was extensively smoke damaged. 11 other apartments were also damaged, leaving the occupants without a place to stay for at least a week.

“I should have never used that,” said Krajniak during a court appearance on Monday. He admitted to knowing that gasoline was highly flammable. He was arrested and his bond has been set a US$2,500. Krajniak’s next court appearance is scheduled for Monday, April 13. According to WISinfo.com, Krajniak has no prior criminal record.

The careless smoking of cigarettes has been blamed for thousands of fires across the U.S. In January 2008, an unnamed elderly woman in Buffalo, New York was receiving oxygen for medical problems in her home and lit a cigarette and began to smoke it. The oxygen coming from her mask then facilitated the ignition of her clothing, setting her on fire.

In the U.S. in 2002, only 4% of all residential fires were reportedly caused by smoking materials. These fires, however, were responsible for 19% of residential fire fatalities and 9% of injuries. The fatality rate due to smoking is nearly four times higher than the overall residential fire rate; injuries are more than twice as likely. Forty percent of all smoking fires start in the bedroom or living room/family room; in 35% of these fires, bedding or upholstered furniture are the items first ignited.

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The Wii, Nintendo’s next generation console, launches in North America
Sep 26

Sunday, November 19, 2006

Nintendo has released its newest video game console in North America. Known as the Wii, the system and games have an MSRP of US$249.99 and US$49.99 respectively. The North American release is to be followed by the December 2nd launch in Japan and the December 8th launch in Europe.

Launched officially at midnight, more than a thousand people gathered in New York’s Time Square to be among the first to buy one of the Wii. In contrast to the crowds that have challenged crowd control officials over the last two days in connection with the launch of Sony’s Playstation 3, the Wii crowds have been much calmer. Many observers attribute this to the fact that Nintendo had more than ten times as many Wii consoles available on launching day than Sony did for their PS3 that had been hounded by part shortages in manufacturing right up to the day of launch.

Nintendo of America president Reggie Fils-Aime said that several tough choices had been made in the design of the Wii. The company decided to develop a new way of playing games with revolutionary controllers instead of following the PS3 and the Xbox down the road of stunning graphic and multimedia options. This produced a console with a much talked-about sensor/controller design and the lowest price point of the three major consoles. While not having a DVD player or high-definition TV capabilities, the Wii retails for about $250 while its competitors the Xbox 360 and PS3 retail for about $400 and $600 respectively.

While the Wii will launch with several games available, one of its advertised advantages is that the new console is largely compatible with older games made for the GameCube, giving the new console an instant and extensive launching library. A GameCube controller will be needed to play GameCube games with the Wii. Several hardware items that GameCube games may be expecting, such as the modem or broadband adapter or the GameBoy player are not supported on the Wii.

Across the country in Los Angeles about 500 people were waiting for the doors to open at Universal City Walk’s Game Stop store. Fearing that the Wii introduction might be as contentious as the PS3 debut just a few days ago, the store handed out numbered wristbands to the throng. No problems were reported.

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Putin’s state-of-the-nation speech addresses the economy
Sep 25

Tuesday, April 26, 2005

Russian President Vladimir Putin spoke live on state television Monday in his annual state-of-the-nation address using high ideological rhetoric when calling on lawmakers and the public to strengthen democracy and the rule of law. His 50 minute address from the Kremlin’s Marble Hall only briefly touched on the “epidemic of collapse” , a reference to upheavals in Chechnya, Kyrgyzstan and the Ukraine, which was “a real drama” stranding millions of Russians beyond the borders of the Russian Federation.

Brushing off what was probably taken as criticism during last week’s visit by Condoleezza Rice who commented the Kremlin ran a “managed democracy”, Putin stressed that “Russia … will decide for itself the pace, terms and conditions of moving towards democracy.”

Putin was critical of the lack of progress in implementing his reform proposals. Calling for a crackdown on corruption, where treatment by tax inspectors are “terrorizing business”, he addressed concerns of the business community by condemning a series of back-tax bills like the ones that dismembered Yukos and face other major Russian corporations.

He was also critical of a bureaucratic attitudes that treat “state service as some type of business”. He made clear the need for investment must be met by “rules of the game” that are consistent, saying “Russia is certainly interested in the inflow of private investments on a large scale, including foreign investments. It is our strategic choice and our strategic approach.”

Putin called for proposals to index wages to inflation over the next two years, and for the introduction of a flat 13% tax on undeclared earnings in the shadow economy, a slice that represents nearly 35% of the nation’s economy, by legalizing what was previously defined as illegal income.

Putin supports the development of a strong state system with determination for Russia to avoid the disarray that led to the collapse of the Soviet Union. Saying, “First and foremost it is worth acknowledging that the demise of the Soviet Union was the greatest geopolitical catastrophe of the century.” He sees the need for strengthening the legal system and the political environment to assure a more just society in avoiding a replay of a Russian downfall.

On politics, he pointedly abandoned the much-used ‘stability’ catch phrase of the bureaucracy. Putin signaled to the bureaucratic caste who are on the eve of their upcoming parliamentary and presidential elections they should promote partisanship and civil society.

By studiously avoiding too many references to business, the thrust of his address sought to reassure the small property holder class, rather than big business and other elite investors.

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Get Testing And Tagging Done In Melbourne And Stay Safe From Harm Sep 24

Get Testing And Tagging Done In Melbourne And Stay Safe From Harm

by

Kelvin Clien

If you want to ensure that you are safe then you need to get all of you appliances tested, the older they are the more chance there is of a problem. Old appliances cause a number of preventable fires every year which is why it is important that you get them checked before you use them. Get your appliances done now to prevent a tragedy. It is easy to get test and tags done in Melbourne so don’t put it off, get onto it today and make sure that you are safe.

[youtube]http://www.youtube.com/watch?v=J4PCHmtEmto[/youtube]

The best place to search for a good appliance testing company is online, the internet has revolutionised the way we search for pretty much anything, from a new car through to an old song we love decades ago, the internet has made looking for anything and everything so much easier. Back in the bad old days you would have had to ring around or visit each place in person, now you can simply Google it and you will get an incredible list of results. Not only is it quicker but you will also get loads of information that will help you make your decision, meaning you can work out who you are going to use without leaving the comfort of your chair. Make sure you look out for a company that provides hassle free, friendly and professional service that is carried out with the latest equipment, one that offers a single fixed price for electrical items tested, one with no hourly rate or call out fee, one with competitive prices including discounts upon enquiry for not-for-profit and charities, one where you have the reassurance that all repairs are being carried out by qualified service technicians, who repair as they go, ensuring you won’t jeopardise the safety of your staff or loose excessive equipment downtime, one whose staff have a current police check and Victorian WorkSafe White/Red card, one who can carry out all Test and Tagging onsite with minimal disruption to your workplace. Get testing and tagging done in Melbourne and make sure that you, your family and your staff are all safe. You owe it to everyone you are responsible for. If you are an employer it is your responsibility to ensure that all the equipment staff use is safe. With electrical testing and tagging services you know that everything you switch on is safe and sound, meaning that you can relax.

For the past 3 years I have been writing informative and high quality articles on topic such as

test and tags melbourne

, testing and tagging melbourne, electrical testing and tagging services and many more.

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US considers taxing earnings from online games
Sep 24

Sunday, October 22, 2006

With online gaming in persistent worlds becoming more prevalent, a US congressional committee has begun to look into the tax implications of these booming online economies. Games such as World of Warcraft and Second Life have large player driven economic systems in which – either following the rules or against them – real world currencies are exchanged for in-game currencies. With the GDP of some of these economies rivaling that of some small countries, the US government is wondering if it is missing out on a potential source of tax revenue: or as some gamers might put it, the IRS is asking “You buy gold?”.

In cases where exchange of a real world currency for in-game currency is permitted by the rules of the game, some of these online games such as Second Life require that players report any income generated by these means to his or her government. In most on-line games however, a black market exists where players buy and sell in-game currencies in direct violation of the game’s rules; situations involving black markets are notoriously hard to tax.

Compounding the issue of currency exchange is the existence of in-game assets. In the real world if someone wins a luxury vehicle, he or she is expected to pay a capital gains tax on his or her winnings. If a 40 person “raid” in World of Warcraft gets a rare “drop,” worth up to thousands of dollars if sold illegally, should they be required to pay a capital gains tax?

Even if the issue of capital gains is ignored, there is still the matter of sales tax. In many of these games, non-player characters and players alike sell items to one another. If sales tax is to be applied, at what rate should it be charged and to what State does it go? Questions such as these have just recently been answered in much less hazy situations such as online versions of brick and mortar establishments.

Dan Miller, senior economist for the Joint Economic Committee had this to say on the issue, “I found that talking about this issue with some of the other economists on the committee, they are not really familiar with what a virtual economy is. The idea of Second Life or World of Warcraft or some of these other synthetic universes, they have trouble wrapping their head around it. So there’s an educational hurdle to overcome here.”

The preliminary findings of the committee state that virtual economies deserve clarification of existing tax laws, not new taxes.

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University of Chicago’s Mansueto Library suffers power outage
Sep 23

Monday, May 30, 2011

The University of Chicago’s Joe and Rika Mansueto Library was shut down by a power outage for a short time on Saturday, preventing library personnel from providing full services to its patrons.

The US$81 million library, which opened May 16, includes a 180-seat reading room under a 691-panel glass dome. Five stories underground, a system of five cranes retrieves books sorted into bins, carrying a maximum of about 3.5 million volumes. As of 3:50 p.m. CDT, the automated storage and retrieval system, along with staff computers at the circulation desk, were shut down, preventing patrons from retrieving materials stored underground.

The glass ceiling normally allows enough natural light to pass, but rain clouds in the area darkened the room. Patrons began to flip light switches in front of their seats, but to no avail, and a circulation clerk announced that there had been a power outage. Some patrons then moved to the adjacent Regenstein Library, which still had power. Power was still running along the corridor linking Mansueto and Regenstein Libraries, along with the nearby restrooms and Special Collections Research Center.

An electrician arrived at the building at around 3:50 p.m., and power had been restored by 5:45 p.m.

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