Archive for June, 2009
A recent survey shows the median amount of household credit card debt is $6,600 and the average debt load is almost $9,900. Further, of the 88 million credit card carrying households, 61% carry a balance from month to month.1
If you feel like you’re sinking under the weight of debt, looking into a debt or credit “help” firm may seem like a good idea. But some of these firms that promise to eliminate debt or repair credit may not be operating in compliance with the law, and doing business with them could have long term negative effects on your credit report and ability to get credit.
Here are six key “red flags” to look for when you’re researching a debt elimination or credit repair service.2
Red Flag #1: The company wants you to pay for credit repair services before any such services are actually provided.
Red Flag #2: You are not made aware of your rights and no information on what you can do to help yourself for free is provided.
Red Flag #3: The firm recommends you do not contact any of the three major credit reporting companies directly.
Red Flag #4: You’re told that the debt firm can get rid of most or all of the accurate negative information in your credit report.
Red Flag #5: The company suggests that you invent a “new” credit identity.
Red Flag #6: You are advised to dispute all the information contained in your credit report regardless of its accuracy or timeliness.
For more information about debt payoff scams, contact the Federal Trade Commission. To learn about Primerica’s debt solutions, visit www.Primerica.com.
Tags: credit cards, debt, debt consolidation, debt repair, Primerica, Primerica scam, repair services, scam
Posted in Primerica |
Primerica Home Office associates annually raise funds and volunteer for the American Cancer Society’s Relay For Life program. This year’s effort took on a surfing theme and called on participants to help Wipe Out Cancer. In addition to participating in the Relay For Life event itself, the entire month of April led up to the Relay with events such as a tricycle race, baked goods and book sales, cookout fundraisers, a silent auction and more. Primerica associates form teams and compete to see who can raise the most money with their events. Relay For Life is a fun way to give back to the community. This year, Primerica raised more than $61,000 for Relay. We’re hoping that next year we can do even better!
Primerica people love to join together to make the community a better place.
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Tags: American Cancer Society, Cancer Fundraisers, Community, Primerica, Relay For Life
Posted in Community, Primerica |
Economic woes and an increase in consumer prices have made sticking to a budget even more difficult for families across North America. People who were already struggling financially under the burden of debt and poor savings may be feeling the pressure even more intensely now.
Primerica presents six tips to help you have more and spend less.
1. Cut energy use.
Simply sealing a home properly can help you eliminate 25% of your heating and cooling costs.1 Many utility service providers provide free or discounted energy audits. If this option isn’t available, you can always go the professional route, or do a self‑check using the steps found at Energy Stat.
Another way to prevent leaks is to add insulation, use caulk, spray foam and weather stripping to seal leaks around windows and doors, and in attics and basements. Plug devices with standby power, like TVs and stereos, into a power strip so they can be turned off all at once.
2. Spend less on groceries.
With the cost of virtually everything at the grocery store going up, this is one budget area you can’t afford to ignore. Coupon clipping can help you keep more money in your pocket (a household of four that uses them strategically can save 25% a year), but this is only effective if you use them for items you already use or need.2
Warehouse clubs can be a good source of cost effective purchases, but you have to weigh the benefits against potential negatives: the tendency to eat more because the food is going bad, and the potential for impulse shopping (many stores put electronics and other goodies out front). Did you know that you can save up to $1,200 annually just by cutting half of your unplanned purchases?3 It’s all about making a list – and sticking to it!
3. Trim entertainment costs.
When eating out, skip the drinks, and instead of ordering two entrees, order one appetizer and split a meal. Or dine out during breakfast or lunch, when the entrees are typically cheaper. Movie tickets now top $10, so hit the matinees instead for discounted admission. Join the local theater’s loyalty club for freebies, get discount tickets in the local Entertainment Book, or head to the drive‑in, where tickets are usually cheaper.
4. Improve gas mileage.
The easiest way to spend less on gas is to simply use less of it. Consolidate errands into one trip, or walk to the grocery store instead of driving. Speeding or braking sharply and frequent lane changes cuts fuel economy by 35%.4
5. Shave car insurance.
Most insurers will shave prices for anti‑lock brakes, having an accident‑free record, taking a defensive driving course, or using the same insurer for both auto and home coverage – adding up to as much as 25% off a your premium.5 Shopping around for competitive quotes is a great way to potentially save.
6. Boost your income.
Costs are rising across the board and a few extra dollars each month can go a long way to relieving the financial pressure of a weak economy and higher expenses.
Business opportunities, such as Primerica’s part‑ or full‑time opportunity, are great ways to do something enjoyable while padding the bank account.*
While you can’t control rising costs, changing a few habits can help you hold onto more of your cash!
Tags: budget, car insurance, gas mileage, Primerica, recession, save energy, save money, spend less, Tips
Posted in Primerica, Tips |
A decade ago, Primerica representative John Roig was enjoying a night out with his wife Gloria near his hometown of Miami, FL, when he was stirred by old emotions he had not felt in many years. As he sat in the audience of the Coconut Grove Playhouse watching a performer singing an old Cuban melody, John began to yearn for his homeland.
John had not been back to Cuba since the summer of 1960, when Fidel Castro came to power. He was 15 years old then and had been spending his summers there since 1953, when his parents left Cuba to settle in America.
Since that summer so very long ago, John had lost touch with his many aunts, uncles and cousins with whom he had been very close as a child. Then, sitting in the playhouse in 1999, at 55, a successful business owner with Primerica earning more than $500,000 a year, the memories came flooding back. He turned to his wife with tears streaming down his face and said, “I’ve got to go back to Cuba.”
Since that time, John has not only returned to Cuba many times, but he has been able financially to help his many relatives who have been impoverished as a result of Castro’s regime.
Before the trip, he called his favorite aunt from childhood, the one with whom he had always stayed as a child, to ask if he could bring her a special gift. She requested a toothbrush. He promised to bring all his relatives toothbrushes and asked her again if she would like something special from America. “Well, it’s been 35 years since I last tasted peanut butter,” she answered.
“I was really in a dilemma,” he says, “because I wanted to bring her something special and all she wanted was peanut butter, which is nothing here. I went down to the local food store and cried like a baby when I looked at all the brands and styles of peanut butter so readily available on the shelf. It made me realize how much we take for granted in America.”
Upon his arrival in Cuba, John was surprised to see more than 50 relatives, most of whom he no longer recognized, waiting to greet him. He and Gloria brought the most goods they were allowed to bring into the country — 40 pounds of clothing and 20 pounds of medical supplies, as well as 60 toothbrushes and enough peanut butter to last his aunt a long time.
After all the introductions, hugs and tears, John was shocked to discover that none of his relatives owned a car. He had sent money to his aunt for a rental car to pick him up, but the rest of his relatives had walked five miles to the airport. And his aunt’s home, once the nicest on the block, was rundown. It had not been painted in years, and the plumbing no longer worked. The $110 water pump had broken three years before, and the family could not afford to replace it.
Not only was John able to help with the water pump, but on later trips, he bought refrigerators and stoves for all his relatives and financed improvements to their homes. He made a decision to return there every year. Later, he helped one of his cousins move to America, find a place to live and a job, paying more than $10,000 to make it happen.
“Because of our business with Primerica, we were able to do so much for my family,” he says. “Not only could we help financially but we could afford to give the time. We could get away so easily. On my first visit, I was able to stay for 10 days. There is no doubt in my mind that the money we’ve spent has come back to us. Our business has gotten even stronger since we decided to go to Cuba. Without Primerica, I couldn’t do this for my family. I’m no hero. I’m just doing what anybody would do for their family.”
Tags: charitable, charity, Coconut Grove Playhouse, family, financial aid, Gloria Roig, John Roig, Miami, Primerica
Posted in Community, Primerica |
Primerica Home Office employee Cathy Falls describes her husband David as a “car nut.” He was the first person in Atlanta to buy the revolutionary new Smart Car and assumed he would use it in his daily commute… or so he thought.
“It was his car but I took it from him” Cathy laughs. “It’s more practical for me. It’s an around town car – I use it for commuting to work, going shopping, going to the grocery store or picking up the dry cleaning. For around town, you can’t beat it.”
Cathy drives the Smart Car 14 miles each way from her home to the Primerica Home Office in Duluth, GA. She says her car gets about 44 miles to the gallon and she only needs to fill up the 8.5-gallon gas tank about once every three weeks. “I don’t think about gas anymore,” Cathy admits. “I’ll look down and realize I am almost on empty and go fill up again for about $20. It’s great! I’d rather buy shoes than pay for gas!”
The Smart Car has been available in Europe for years but it was only recently introduced to U.S. consumers. Smart Car enthusiasts must get on a wait list and the buying process is much different than a typical car dealership. Cathy and her husband picked out their car online and added all the extras they wanted. They paid a $99 reservation fee and waited for their car to be custom built for them and shipped to the United States. It arrived in Atlanta in March 2008 and they said the dealership really rolled out the red carpet when they went to pick it up.
“Smart stands for Swatch Mercedes Art,” Cathy explains. “Swatch because you can change out the color of the exterior trim panels like you can customize a Swatch Watch. Mercedes because it’s designed by Mercedes. And Art because the makers see the car as a work of art. It’s an icon.”
Cathy says she’s not intimidated driving this tiny car on Atlanta’s notoriously congested highways. “This car is incredibly safe,” she explains. “It has four airbags and a steel roll cage.” Besides being safe, Cathy says the car is also just really fun to drive. “It’s like a race car. You can shift using paddle shifters, use the manual transmission or use the default automatic transmission. It’s also very fast.”
Because of her head-turning car, Cathy says she’s never met a stranger – everyone wants to talk to her about her unique wheels. “That’s my favorite part about this car,” Cathy admits. “I like waving, smiling and being friendly. I’ve let people sit in it and even drive it. People are always smiling and waving at me when I drive this car!”
Tags: car, commute, conservation, conserve, ecofriendly, energy efficiency, mercedes-benz, Primerica, safety, save money, smart car, Ultra-Low Emission Vehicle
Posted in Primerica |
