Rule 6. Consider cultivating a cash-only credo (cutting out credit).
The only way to reduce your credit card balances is to pay them off faster than you spend on them. Stopping spending on credit cards is the quickest path to a debt-free state. If you cut credit card usage to zero (or use them only for emergencies), you will not only reduce your outstanding credit card debt faster, but you can plan better and calculate when those balances will go to zero. Steady reduction in your balances month after month also looks good to credit reporting agencies. If you insist on using the cards, consider an alternate strategy: paying off whatever you spend each month plus the minimum payment due.
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- Life Alert Emergency Response
- Life Alert, founded in 1987, provides two-way communication for its members at the touch of a button when an emergency strikes, and sends help immediately. On average, Life Alert saves one of its members from a catastrophic outcome approximately every 23 minutes, saving 22,490 lives in 2009 alone, and has received over 14,000 testimonials from grateful customers in the past 2 years. Former U.S. Surgeon General C. Everett Koop, M.D. is the spokesman for Life Alert -- the only company he endorses. Once help is summoned by a Life Alert dispatcher, he/she stays on the line with the customer until assistance arrives -- and notifies family members, friends, and/or neighbors of the situation. In January 2008, “The Martha Stewart Show” featured Life Alert. The popular national television program recommended Life Alert during a segment on health-tech devices. Dr. Brent Ridge (who co-hosted the segment and is V.P. of Healthy Living at Martha Stewart Living Omnimedia) said that “we recommend this to all of the patients at the Martha Stewart Center for Living,” pointing out that Life Alert is "so inexpensive yet so vital for people."
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