financial independence

Credit Card debt has added to the financial burden of Americans, irrespective of financial background. There are other forms of debt but the most rigorous and common is credit debt. High interest debt from credit card companies has reached epic proportions, to the point that the average household credit debt is now $9000, 8.3 percent of households owe $9,000 or more on their cards. According to the Federal Reserve, the total consumer credit revolving debt reached above $904 billion in 2007, a jump from $879 billion in 2006. Herein, the problem with credit debt will continue to grow unless, steps are taken to forestall the increase in consumer debt. In the meantime, these are some steps you can take to start on your way to financial independence.

When used wisely there are times when credit & borrowing can be useful, offer you protection and even make you money.

In my last post Loads of money from property I said I was going to tell you how to make tons of cash from property even when your skint. Well sorry but I am not going to tell you now I think it would be to controversial and I might get in trouble.

Instead I am going to tell you when to borrow cash and use your credit cards for maximum benefit.

Times to borrow.

When should you borrow money? You should borrow money in these circumstances.

1. Buying a house - Borrowing money to buy a house can't be helped really can it? They cost a lot of money and property prices keep rising you can't save the cash because you need somewhere to live, renting costs nearly as much as buying so you need a mortgage.