Beware Black Friday Spending!

I wish everybody a Happy and Healthy Thanksgiving! I hope enjoy the day with family and friends.....and, of course, food.

We all know that "the day after" is Black Friday. This is a "make or break" day for many stores during the holiday season. However, this does NOT have to be a "make or break" day for your and your finances.

With that said, if you are going to battle the crowds this Friday, please bring a set amount of money with you and do not go beyond amount. Also, if you know that you are frequently tempted to use credit cards or department store cards, leave them at home. In the long run, you will be happy that you did, especially if you tend to carry balances from month to month.

The cash back and bonus points rarely make up for all the money spent and interest charges incurred. To me, it's not worth it.

Stay tuned for more!

FTC Closes Down Debt Collection Agency

As an advocate for consumers, I am always happy to see the government do something to prevent abuse of power. That said, the Federal Trade Commission closed down Rincom Debt Management last week, claiming that the agency made "bogus threats" against consumers. The FTC stated that Rincon threats included telling consumers that they had been sued and even could be arrested for debts...even those that they did NOT owe.

These are considered "unfair or illegal debt collection practices" (obviously) and it's refreshing to see the FTC making agencies like Rincon "play by the rules."

I'm BAAAAACK!!!

Hi Everyone,

It has been WAY TOO LONG since I've posted something on my blog. Now, I could use the excuse that I have been busy promoting my book, "Master The Card: Say Goodbye to Credit Card Debt...Forever!", actively building a following on my website, www.joeparetta.com, or assiduously grading essays and instructing students...and that's all true!!

But now, I am focusing on sharing my knowledge about getting out of credit card debt and also providing tips and other infomration that you will find valuable on your own voyage away from what I call those "plastic hand grenades" (credit cards).

So, please stay tuned. There's MUCH more to come!

Credit Card Debt: Up in December

The Federal Reserve announced that for the first time since August 2008, just two months before the "official crash" of the United States economy, revolving debt on credit cards increased. The Fed believes this was largely due to increased spending during December for the holiday season.

Whatever the reason, this is not a good sign for people who carry balances on their credit cards every month. With the average hosuehold credit card balance around $9,000 (and that is with many people foregoing their credit cards over the last two years), increased card use is not going to solve the problem.

Whether people think that the economy is getting better or they are simply tired of not buying, one wonders if this news is just the beginning of a trend which will send many American consumers even deeper into debt.

It's time to change the way we think about spending and especially about credit card debt.

Get my new book "Master The Card: Say Goodbye to Credit Card Debt...Forever!"
For more information, go to www.joeparetta.com and click the "Purchase Book" link.

My Interview With The Debt Free Divas

Last Thursday (February 4), I was the guest on an internet radio show called "The Debt Free Divas." Toni and Jill (The Debt Free Divas) and I spoke about my new book, "Master The Card: Say Goodbye to Credit Card Debt...Forever"

We focused on the time in my life when I had several thousands of dollars of credit card debt, what made me start to take inventory of my financial life, and how I climbed out of debt, little by little.

We also spoke about how great life becomes when one no longer has the albatross of credit card debt "around our necks" and weighing us down. We talked about many of the dreams that we can pursue when debt is out of the picture.

Without giving away more of the interview, I invite you to listen to the show.
The interview is archived at the Debt Free Divas website. Click on the link here - www.blogtalkradio.com/debtfreedivas

Listen to the Debt Free Divas every Thursday at 11:30am Central and 12:30pm Eastern time.

Lastly, visit my website at www.joeparetta.com for information on purchasing the book and to see all the services offered.