Personal Finance Questions and Answers

How does debt consoldlidation work?

I am getting married this August and I have extremely little debt going into this marriage smaller amount then 1000$ However my fiancee have around 12,000 dollars in debt beside 12 percent interest. How does debt consolidation work and is it worth it.


Answers: Hi,

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Debt consolidation usually does not work because it doesn't fix the problem. HINT: The problem is overspending; buying stuff you don't need to impress populace you don't like beside money you don't have.

August is 6 months away. Your fiance should catch a second or third job and earn $2000 per month and retire this debt. There's no object she should be carrying it, regardless of the rate.
Debt CON-solidation = you take out a big loan so you can pay cheque off your small loans.

Will seniors on retirement qualify for the Bush rebate...?

We still pay taxes out of our retirement income.
What if you own a dependent child or a disabled child ?


Answers: As of right now no unless you are working. The senate have said it would like to revise it and lower the rebates per family circle and give some to seniors. You might acquire $300 for your dependent child depending on if you clam them or not. The president has said if the Senate change the plan and includes seniors then he might veto it. We shall see.
Individuals who remuneration income taxes would get up to $600, working couples $1,200 and those beside children an additional $300 per child lower than the agreement. Workers who make at tiniest $3,000 but don’t pay taxes would receive $300 rebates.

The first rebate payments could commence going out in May, and most folks could have them by July, though the IRS will already be overwhelmed processing 2007 levy returns.

The rebate is not taxable at the federal level, and it's unlikely the states would levy it, though that's not entirely clear at this point.

Does anyone know any Canadian books similar to "Young Fabulous and Broke" by Suze Orman?

I would like a book geared towards Young Adults that hold tips on saving, rrsp's, investing etc. within Canada. The "Young, Fabulous, and Broke" book uses only U.S. accounts and language.


Answers: Most of the fundamentals should apply to Canada. The terms may be slightly different, but masses principals are the same.

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