Last week on Nightly News, we ran a report about medical bills and the liens one hospital system had put on the homes of patients who couldn’t pay. Following our report, the company announced it is now canceling the debt for thousands. NBC News’ Christine Romans reports.

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#MedicalDebt #Hospital #Patients

Learn practical tips to help you budget and save, organize your money, and deal with the Canada Revenue Agency so that you can feel more confident and less stressed about your finances. For British Columbia. Current to September 2024. Show notes at https://www.peopleslawschool.ca/webinar/financial-wellness/

Financial wellness
3:00 What financial wellness means.
4:15 Whether you need a lot of money to have financial wellness.
5:50 Key indicators of financial wellness.
10:00 Savings tips and strategies for people who struggle with impulsive spending.

Money management
16:35 Systems and strategies to organize your money.
21:15 Whether you need a budget and how to get started.
24:10 Steps to take when you owe a lot of money and feel too stressed to think about it.
27:55 Three top tips to improve your credit score.
33:45 Steps to take now to make it easier for someone else to deal with your finances if you get into a serious accident or die.

Dealing with the Canada Revenue Agency
37:15 Common challenges when it comes to paying taxes.
38:05 What happens if you don’t file your taxes on time.
38:40 What to do if you owe a lot of money in taxes but don’t have any money saved to pay them.
40:35 Tips for calling the Canada Revenue Agency to deal with outstanding taxes.
42:20 What to do if you make a mistake on your tax filing.

Live questions
43:50 The difference between a non-profit and a for-profit credit counselling agency.
45:50 Whether the utilization ratio used to calculate your credit score is measured per credit card or on your overall borrowing.
46:45 Whether the Canada Revenue Agency can insist on quarterly payments.
47:20 Tips for keeping cash on hand for disasters or emergencies.
49:30 Factors to consider in making a consumer proposal versus declaring bankruptcy.
51:05 Strategies for preparing for and saving money for your funeral.
52:35 How to dispute a collections account on your credit report.
54:10 Whether to increase your credit card limit in order to keep your utilization ratio at 60%.
54:25 Whether checking your own credit score affects the score.
54:55 What happens after a bankruptcy, including how long it takes before you can get a loan.

Tax Debt Assistance in Fort Walton, FL – (850) 863-9110 

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Electricity Minister Kgosientsho Ramokgopa says there is a way to shave off 6% off proposed power tariffs.

He says this can be done by staving off carbon tax and recouping municipal debt.

He was briefing a Parliamentary Portfolio Committee alongside energy regulator, Nersa. #eNCA #DStv403 #questionthinkact

FULL INTERVIEW HERE: https://www.enca.com/videos/discussion-restore-power-grid-sorting-out-municipal-debt-can-reduce-tariffs

Are you struggling with debt that seems to grow endlessly due to interest? Debt consolidation loans might offer a solution. Prosper CEO David Kimball joins Wealth to discuss the pros and cons of this debt relief option.
Kimball emphasizes that the current high-interest rate environment is a primary reason to consider debt consolidation. By consolidating debt, borrowers can potentially reduce interest rate costs, especially if they’re carrying balances across multiple high-interest credit cards. This approach allows for a transition from higher-interest debt to a single, lower-interest loan.
However, Kimball stresses that the real key to financial health lies in managing finances and changing habits. He explains, “It really comes down to whether or not you have the capacity, and ultimately, if you don’t change your habits, if you keep spending the way you were spending, you’re going to take this debt from your credit cards, put it on a debt consolidation loan, [but] your credit card lines are still open. If you begin to spend on your credit card lines again, what you’re doing at that point is creating more debt.”
Kimball cautions that this scenario is a significant drawback of debt consolidation. He advises, “You need to face your finances, understand them, and make a budget. For some people, you’re going to have to change your spending behavior for this to be a really effective tool.”
#news #youtube #stocks

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Just as debt can bring financial bondage, so also can wealth and abundance. A wealthy individual who cannot sleep because of anxiety over his money or his investments is in great bondage. No wonder that the preacher desired neither poverty nor riches but just food convenient for him (Proverbs 30:7-9). The poor can get into bondage through borrowing but the rich can be enslaved by their wealth. Their heart is overcharged with surfeiting and their wealth becomes an idol to them.
The case of the rich young ruler that came to Jesus comes to mind (Mark 10:17-28).
Financial bondage is a terrible thing. It ensnares the person concerned and robs them of the joy and benefits of simple, free, peaceful living.
Financial freedom is God’s will for us where we neither have the overbearing anxiety over diminishing assets or the stressful worry of how to pay the next bill. God meets our every need, we are free to serve Him and He reigns without a rival on the throne of our hearts.

1) INDISPENSABILITY OF GREAT COMMITMENT: ????????????
John 15:5; 11:44; 8:32,36; Psalm 119:105; 19:7-11; Jeremiah 10:23; 13:23; 29:11-14; Acts 20:20,27; Ephesians 1:11; Exodus 9:29; 19:5; 1 Corinthians 10:26; Job 41:11; Haggai 2:8.

The first step towards financial freedom is conversion, turning over our life completely into God’s hand — our sins, anxieties, fears, plans, future, totality. We cease to be the master of our lives. We recognize that without Him we can do nothing (John 15:5; Psalm 128:1; Jeremiah 13:23).
We acknowledge divine ownership and cease from self-management (Psalm 74:1; 79:13; 95:7; 100:3; 24:1; 50:10-12; 115:16; Proverbs 20:24; 16:9; 19:21; Jeremiah 10:23; Deuteronomy 10:14; Leviticus 25:23; 1
Chronicles 29:14; Job 41:11; Haggai 2:8; Exodus 19:5; 9:29; 1 Corinthians 10:26). Without this great commitment, we cannot commence the journey to financial freedom. We need to acknowledge that God has better plans and that we are ready to follow His plans as revealed in the Bible and as taught by godly men with divine insight (Jeremiah 29:11-14; 2 Chronicles 20:20; Isaiah 7:9; Acts 20:20,27; Ephesians 1:11).
The truth of God’s word sets free fully and permanently. There is great reward in following divine prescriptions (John 8:32,36; Psalm 119:105; 19:7-11).
If we are financially bound hand and foot like Lazarus was physically bound hand and foot, we cannot free ourselves, God will have to lose us and let us go. (John 8:32,36; 11:44).

2) IMPORTANCE OF GOOD COUNSELLING: ????????????
Proverbs 11:14; 12:15; 13:10; 15:22; 20:18; 24:6; Haggai 1:2-5; Hosea 4:6; Isaiah 55:2; 1 Timothy 6:17-19; Matthew 17:24-27; 25:14-30; Romans 13:6-8.

In any undertaking in life, the importance of good counselling cannot be discounted. Very often the difference between success and failure has been good counselling or lack of it.
The goal of financial freedom can be well established through good counselling. The situation is evaluated, the goals are reviewed, a workable plan can be set in place, priorities are established,
alternatives can be suggested and the funds are made to stretch. Many christians can live better lives on their present income. What most people need is seldom a salary increase but rather wisdom in effective and beneficial dispensing of the money already in hand. It is good to take financial stock — a honest evaluation of our financial position, listing our present income, expenditure, assets, liabilities and then embark on a good financial surgery and revamping.

INSIGHT OF GODLY COUNSELORS: ????????????
2 Kings 4:1-7; 6:1-7; Genesis 41:38-44; Daniel 2:47-49; 1:20; Matthew 20:1-17; 25:14-30; 17:24-27; Luke 7:36-50; 12:42-48; 15:8-24; 16:1-31; 17:7-10; 19:12-27; 20:22-26; Matthew 10:24,25; 1 Peter 2:21.

In seeking counselling on financial matters, either for freedom from financial bondage or planning towards financial independence, it is very important that we seek the insight of godly counselors. It is a pity that many christians today are very ignorant of basic financial principles and cannot offer grassroot advice to their fellow christians in this area. This has created a great loophole for the devil to exploit and many believers are therefore in financial bondage through the counsel of the world’s financial advisers.
In resolving her financial problems, the prophet’s widow’s first point of call was not to the creditor for a re-negotiation of the terms of payment or a re-scheduling of the debt, it was to Elisha the prophet of God to seek advice, counselling or perhaps a miracle-bringing intercession (2 Kings 4:1-7).
The young that lost the axe head cried to the prophet for help. His first thought was not how to borrow to pay for the lost axe-head or agree terms of payment with the lender (2 Kings 6:1-7). For many christians, when financial problems arise, their first point of call is the bank manager or other financial advisers and consequently they get into more debt.

The Congressional Budget Office has admitted that the US national debt cannot be repaid. So what’s the solution from the US Government and Federal Reserve, will this weigh on the election, and what will the result be for the stock market?

? ? LEARN TO INVEST ? ?
Get started investing on the right foot with our step-by-step investing courses:
https://newmoney.education/

? ? CONTENTS ? ?
0:00 The U.S. Can’t Repay Its Debt
1:00 How the Government Goes Into Debt
4:00 The Size of the Deficit
8:15 Inflating Away the Debt
12:40 Fixing the Deficit

My Podcast: https://www.youtube.com/c/TheYoungInvestorsPodcast

Brandon van der Kolk is authorised to provide general financial product advice in Australia and is an Authorised Representative (Number 1305795) of Guideway Financial Services Pty Ltd, AFSL Number 420367. Any advice is general & does not consider your financial situation, needs or objectives so consider whether it’s appropriate for you. Read Brandon’s Financial Services Guide available from https://guideway.com.au/NewMoney.pdf. Past performance is not a reliable indicator of future investment returns.

Contact email: hello@newmoney.contact
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Prior to filing for Chapter 7 bankruptcy, gather your recent two months of pay advices, 2 years of Federal tax returns and complete a pre-filing, credit counseling session. Your attorney will guide you through this process and describe in detail as to what is needed.

The Fiat Standard: The Debt Slavery Alternative to Human Civilization (Saifedean Ammous)

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#fiatcurrency #debtslavery #economicpolicy #inflation #cryptocurrency #monetarysystem #economicstability #SaifedeanAmmous #TheFiatStandard

These are takeaways from this book.

Firstly, The Concept of Fiat Currency, A central theme of ‘The Fiat Standard’ is an exploration of what fiat currency is and how it differs from other forms of money, such many cryptocurrencies. Ammous explains that fiat currencies are government-issued currencies that are not backed by a physical commodity, such as gold or silver. Instead, their value comes from the trust and faith that people have in the issuing government. He delves into the history of fiat currencies, tracing their origins and the transition from commodity-backed currencies to fiat money. Ammous argues that this shift has had profound implications for economic stability, inflation rates, and national debt, providing a foundation for understanding the broader critiques he levels against the fiat system throughout the book.

Secondly, Debt and the Fiat System, Ammous critically examines the relationship between fiat currencies and debt, arguing that the fiat system inherently encourages the accumulation of debt. By providing governments with the power to print money, fiat currencies enable states to borrow excessively, leading to national debts that can spiral out of control. This section explores how such fiscal policies not only undermine economic stability but also contribute to wealth inequality, as the benefits of newly created money are not distributed evenly across society. Ammous discusses the concept of ‘debt slavery,’ where citizens are burdened by the consequences of government debt through taxation and inflation, effectively tethering future generations to the financial decisions of the present.

Thirdly, Inflation and Economic Control, One of the most critical discussions in ‘The Fiat Standard’ revolves around inflation—an inherent feature of fiat currencies. Ammous provides a detailed analysis of how fiat currencies facilitate central control over the economy, allowing monetary authorities to manipulate inflation rates through monetary policy. He argues that such control distorts economic signals, leading to malinvestment and boom-bust cycles. The author also highlights the impact of inflation on individual purchasing power, illustrating how it acts as a hidden tax on savings. This section underscores the argument that fiat currencies, by enabling unchecked inflation, erode the foundations of a stable and prosperous economy.

Fourthly, Alternative Monetary Systems, In contrast to the bleak picture painted of the fiat currency system, Ammous explores alternative monetary systems, with a particular focus on cryptocurrency, such as Bitcoin, which he previously championed in ‘The Bitcoin Standard.’ He presents these alternatives as more transparent, decentralized, and resistant to manipulation. This section of the book assesses the properties of good money—durability, portability, divisibility, uniformity, limited supply, and acceptability—and evaluates how well cryptocurrencies meet these criteria compared to fiat currencies. Ammous posits that the adoption of sound monetary systems could usher in a new era of economic stability and freedom, free from the pitfalls of debt and inflation that plague fiat systems.

Lastly, The Societal Impacts of Fiat Currencies, Beyond economic metrics, Ammous delves into the broader societal impacts of fiat currencies, arguing that they perpetuate a cycle of debt slavery and economic dependence. He discusses how fiat systems affect education, healthcare, and social welfare, leading to systemic inefficiencies and inequalities. This section critically examines the moral and ethical dimensions of monetary policy, questioning the legitimacy of a system that benefits a select few at the expense of the majority. Through a compelling narrative, Ammous advocates for a reevaluation of our relationship with money, urging a move toward monetary systems that foster greater economic independence and societal well-being.

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