Winter/Spring 2012


DMCC Your Guide To Debt Freedom

 A Quarterly Educational Publication


Ways to Make Extra Income Without Much Work   Seth Porges is a major world traveler, with about a dozen countries visited in the last five years. He enjoys meeting new people and learning new cultures, but now with the demands of being a full-time magazine editor in New York, this travel enthusiast has found a way to bring the world directly to his apartment instead—and get paid all the while.  Using, a fast-growing peer-to-peer lodging website, Seth has been renting out the second floor of his two-story duplex apartment to travelers seeking short-term stays in the New York area. He’s been active on the site for about a year and earning great reviews from previous visitors on the site. “I’m booked solid through November,” he says, adding he charges about $90 per person, per night, sometimes more. The extra revenue is helping him pay his monthly bills and bulk up personal savings.   READ MORE

Your Guide to Preventing and Managing Overdraft Fees   An overdraft can occur when you try to spend more money than you have available in your checking account. For example, let’s assume you have $40 in your account. You ask the phone company to electronically deduct $35 from your checking account to pay the bill. You now have $5 available. Next, you use your debit card to make a $10 purchase. You could overdraw your account if the bank allows the $10 purchase to be processed. This could cost you expensive overdraft fees. The amount you are overdrawn plus your bank’s fees will be deducted immediately, in full, from your next deposit(s) — including from payroll deposits made by your employer, government benefit deposits, and other direct deposits on which you may depend. These deductions will lower your account balance once again and may increase the risk of more overdrafts and costly fees.  READ MORE

Debt, Money & Credit Concepts  Our current economy has many consumers worried about their finances.  The media has proclaimed that perhaps the homeowners that are or may face foreclosure in the future could have avoided this financial distress by educating themselves better before acquiring their home loans.  This is just one of the important issues that DMCC would like to cover with their educational program.  READ MORE

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Letter from The Executive Director

Mission Statement/IRS Treatment of Client Payments to DMCC/Disclosure