You can do it! 10 ways to motivate debt repayment

Just seeing the amount of your liabilities can instill a "Why try? I'll never pay it all off" despair. Indeed, high debt can make you feel hopeless. It's not though as effort does produce results. Implement the following techniques to kick apathy out of your life and inspire you to keep your eyes on the prize

1. Read real--life success stories
   Who doesn't love a great "before--and--after" story? Learning how others who've been in your position (or worse) conquered financial adversity can inspire you to stick to your own debt diet. Though some previously insolvent folks prefer to keep their money problems a secret, others want to shout, "I did it and here's how!" from the rooftops. Locate such tales of achievement by searching for "debt repayment blogs" online (Blogging Away Debt is a good one), or read personal finance publications, as most feature real people who triumphed over debt.
2. Set trackable, achievable goals
   Establishing clear and measurable goals is key to staying motivated, says Eric Tyson, author of "Personal Finance for Dummies." "By focusing on those objectives, you won't wallow in the misery of debt." Tyson says to think of the big picture, and look ahead: ‘If I get this debt paid off, then I can do X.'" Chart your goal course: Using a calendar, write your starting balance on today's date, then on the same date each month, the amount each subsequent payment will reduce your balance. Get precise figures with a credit card payment calculator.
3. Chat, blog, or "tweet" about it
   Silence can be misery. Sharing your frustration and other negative feelings about your financial problems can help you overcome pessimism. Of course, not everyone wants to be on the receiving end of your venting, so try virtual confidants. Start your own debt repayment blog, join a money forum or chat room, or, with a pseudonym, use Twitter to update your financial status. Because these interactive tools can be anonymous, you can get objective support without revealing personal information to those who know you in real life.
4. Save and repay
   Focusing only on arrears can be so discouraging that, after a while, you just want to give up. Revive your commitment by simultaneously preparing for the future. Saving money is symbolic of better days to come. Jerrold Mundis, author of "How to Get out of Debt, Stay out of Debt, and Live Prosperously" agrees. "Start building that right away, even if all you can put into it is a few dollars a week." Find equilibrium, though. It doesn't make sense to put a lot of money into a savings account that pays a very low rate of return when your creditors are charging 10 times that.
5. Reward progress
   If concentrating on the past is creating a painfully austere present, try celebrating each payment with an affordable luxury. This can be something as reasonably priced but indulgent as bar of gourmet chocolate, a DVD, or lunch out with a friend. The positive psychological effect this reward system can have on helping you stick to a budget is astounding. Make sure you build the expense into your budget, however, so you don't overspend and add greater stress to your life.
6. Create a money mantra
   It's inevitable -- some days scrimping will wear you down. When that happens, give yourself a pep talk. Develop a brief but powerful affirmation that you can say and repeat during rough moments. Your axiom can be as simple and straightforward as, "I can do this," "It's only money," "I'll be debt--free in September," "I still have my health," "I am fortunate compared to many," "Others do it, so can I," and "I'm proud of myself." Use any of these or create your own, then keep it in your wallet or tape it to your computer screen.
7. Highlight the finance charge
   How much are you being charged just to hang onto that balance? Scan your statement and look for the finance charge. Highlight or circle that figure. Now think about all the things you would much rather do with that cash. Buy new shoes? Invest in your child's education? Save for a vacation? Go ahead; get mad -- that anger can instigate you to pay it off even faster!
8. Stay organized
   With chaos comes a "just forget about it" attitude, so get organized. Put all bills in one place, set up a spreadsheet that's easy to update, clear your files of anything that doesn't belong, and develop a detailed budget where you've determined how much you will apply to your debt each month. Such a controlled, methodical system will allow you to spend and save precisely, rather than haphazardly. To help, consider enrolling in an online personal finance management program such as Mint.com.
9. Be a business
   As important as it is to take responsibility for your actions, obsessing about mistakes can squelch enthusiasm. Instead, approach your liabilities in a businesslike manner. Many companies find themselves in arrears. Like them, assess the situation neutrally and have the long-term goal of remaining "open for business" in mind. By replacing an emotional response with a professorial one, you're more likely to make productive decisions. "You owe some people some money, that's all," says Mundis. "The missiles won't be launched, blood isn't running in the streets."
10. Join a group
    The fact is, sometimes remaining optimistic and on track requires more than you can give yourself. In this case, turning to the professionals may be your best bet. If paying down debt feels insurmountable because of spending or charging addictions, consider contacting Debtors Anonymous, or another similar group that can provide you with the full-strength motivation and assistance.

In the end, recognize that almost everyone experiences self-doubt and discouragement during the repayment process. If you do, keep those feelings vivid long after celebrating your accomplishment. Recalling them can motivate you to do whatever it takes to never get into overwhelming debt again.

NSBA: Small businesses hurt by credit card terms

As small business owners become more dependent on credit cards, they are also simultaneously being crunched by the tightened credit market, according to the National Small Business Association (NSBA), an advocate organization for American entrepreneurs.

The annual NSBA Small Business Survey, designed to explore how businesses use credit cards to generate capital, and how they are impacted by their card issuers' practices, showed 59 percent of small business respondents depended on credit cards in the past 12 months. Of those businesses, 75 percent reported experiencing worsened credit card terms in the past six months.

According to NSBA Chair Keith Ashmus, the creation of small businesses has helped economies recover from recessions in the past, but in this recession, new businesses have been forced to turn to credit cards instead of traditional loan outlets to finance their establishments. "...Today's entrepreneurs are severely limited in their ability to finance new business ventures by leveraging the value of their home, borrowing from friends and family, or securing a traditional loan," Ashmus said. "This leaves one clear, often unattractive, option: credit cards."

The survey also revealed that, among small businesses:

• 34 percent have credit card debt as a quarter or more of their overall debt or financing.
• 40 percent reported paying off their credit cards each month.
• 33 percent use four or more cards.
• 48 percent have credit card APRs of 15 percent or greater.
• 63 percent said their card company had increased their card's interest rate.
• 41 percent said their card company had reduced their credit limit.
• 23 percent said their card company had switched from a fixed to a variable interest rate.

NSBA cited the survey as evidence for the need for credit card reform benefitting small businesses and voiced its support for S. 414, or the Credit Card Accountability Responsibility and Disclosure Act of 2009, which would seek to ban abusive credit lending practices. The bill will likely be voted on within the week.

2009 GS500F And GS500: Suzuki Chips In For On-Road Costs

Suzuki has announced it will contribute $400 (including GST) towards the on-road costs of a new LAMS-approved fully-faired GS500F, or $300 (including GST) for each new, naked GS500 purchased and delivered between 1 May and 31 July 2009.

No doubt helped by the introduction of LAMS mid last year (in a rare show of sensible policy-making by the Victorian Government involving motorcycles), the GS500F was the best-selling sports tourer in Australia in the first quarter of 2009.

Both models are powered by a lightweight and well-tested 487cc parallel-twin engine. Each features disc brakes, preload-adjustable front and rear suspension, good handling and performance and a relaxed riding position. Both GS500F and GS500 come with a 20-litre fuel tank for a good touring range.

In Blue/White or Black/Grey livery, the Suzuki GS500F can be had for $8,490rrp (inc. GST, but excluding dealer delivery and government charges), while the GS500 is available in Blue/Black or Black colour scheme for $7,790rrp (inc. GST, but excluding dealer delivery and government charges).

And if you buy one before the end of July, Suzuki will give you a nice little brown paper bag stuffed with bills to defray the on-road costs. (Well maybe… figuratively perhaps.)

2009 HSV Clubsport R8 Road Test Review

Auto shifter into sport mode, ease off the brake, right Blundstone to the floor and… WOOOOOF!

Yes, HSV’s fourth-gen LS3 has the grunt to turn even the most stubborn of non-believers into cubic inch converts. It’s one hell of a mill.

And if you get a chance to stretch it out behind the wheel of the Clubsport R8, it will take more than an hour or two to get the silly grin off your face.

Guaranteed.

But let’s back things up a little.

Let’s say your loyalties are neither ‘rusted-on Holden’ nor ‘rusted-on Ford’. And let’s say you’ve just been called by some jackass from a radio station who tells you you’ve won a car. Not only that, but you’ve got a choice between two.

Now here’s the thing. The choice you’ve got is between HSV’s Clubsport R8 and Ford’s FPV GT. Both slavering beasts, both superbly responsive V8s, and both the duck’s nuts down at the footy club.

So, c’mon, which is it going to be? Which one will have you tingling in anticipation when the keys are handed over? Which will have you dreaming about a full-throttle run, V8 bellowing at the redline, rushing to the horizon along some long and lonely freedom road?

For these two iconic machines this is the test for both the cars and their marketing. Which would you choose?

We had the 2009 Clubsport R8, HSV’s much loved “Clubby” for a week. In the showroom, it is lined up squarely against FPV’s seriously quick and seriously stylish GT.

But where Ford’s GT crown has slipped a little in latter decades, the R8 Clubsport has become now, it can fairly be said, the stuff of legend. And that puts it in rarefied air among Aussie performance cars.

So let’s untangle the legend.

Clubsport lineage

The Clubsport is HSV’s volume seller. It shares little in common with the original bare bones ‘Clubsport’ that started the revolution all those years ago.

The original VN Commodore-based Clubsport was lighter on the luxuries and featured Holden’s own cast iron push-rod 5.0-litre V8, tweaked by HSV. It produced a ‘mousily’ (by today’s standards) 180kW and 400Nm, driving through a four-speed auto or five-speed manual gearbox.

It was, as the name suggested, a Clubsport in the true meaning of the word. It was basic, not too expensive, built for performance, built to handle better and built to be enjoyed at the odd club track day.

The species has since evolved. Nine major model changes later and we have the current E-Series Clubsport. Gone is the agricultural rawness and basic spec. In its place is a seriously powerful, well-equipped and – yes – cosseting performance sedan.

It now sits somewhere between the appealing Aussie raw-boned hammer that personified the original, and the refined Teutonic brilliance of the big German performance sedans.

Up-front in the Clubby now is GM’s potent LS3 engine. Built by General Motors Powertrain in North America and available in the current Corvette, it was introduced into the R8 in April last year. With a capacity of 6.2 litres producing 317kW of power @ 6000rpm and 550NM of torque @ 4600 rpm, it puts serious fire-power under the toe.

Put those ergs to work and the R8 Clubsport can be a weapon on the track. But the intended function of the E-Series is not one of track day champion.

Strangely enough, despite this shift, it’s arguably more ‘the legend’ than ever it was.

Exterior styling

Perhaps it’s because it looks so damn good that the R8 stirs the blood; the styling of the R8 is as uncompromising as the car. With twin-nostril grille, deep lower intake, pseudo brake cooling ducts, rear diffuser and quad pipes, there is no mistaking the iron fist behind those purposeful lines.

There is even a hint of ‘supercar’ in the way it sits on those huge rear hoops.

For the first time in HSV’s 20-year history, thanks to the less-compromised VE platform, wider wheels and tyres can be fitted to the rear of the Clubsport. (It’s actually the first HSV to run tyres of different width, front to rear.)

Bigger rubber means more grip and better handling. It also gives the R8 one of the best looking rear-views in the business.

No risk, the 2009 Clubby stands out in any crowd. HSV has done a magnificent job working with the handsome lines of the VE in producing this car.

Even the most gone of blue-oval fans could not help but give some grudging respect to the style of the R8. (“Ok, yeah, it looks good, but it’s shit.” That’s how the compliment would likely be expressed.)

In the rear view mirror it will always jag a second glance. And passing by in the street it has the presence and menace of a hungry white pointer. Everyone notices the R8.

F1: Renault Joins Ferrari In Quit Threat

The proposed Formula One boycott has gathered strength after Renault became the latest heavyweight manufacturer to reconsider its involvement in the sport.

The French manufacturer opposes the introduction of two sets of regulations for next year, which will provide budget-capped teams with a variety of technical freedoms and scope for innovation including a movable rear wing.

Renault maintains it is supportive of measures designed to reduce the cost of participating in Formula One, but not as currently proposed by the FIA.

President of the Renault F1 Team, Bernard Rey, said the automaker cannot continue its involvement in a two-tiered championship, despite the category playing a key role in its marketing strategy.

“Renault has always considered Formula One as the pinnacle of motor sport and the perfect stage to demonstrate technical excellence,” he said.

“We remain committed to the sport, however we cannot be involved in a championship operating with different sets of rule.”

F1 boss Flavio Briatore said his team is keen to enter discussions in an attempt to negotiate a solution but condemned the FIA for ignoring the pleas of FOTA.

“Our aim is to reduce costs while maintaining the high standards that make Formula One one of the most prestigious brands on the market,” he said.

“We want to achieve this in a coordinated manner with the regulatory and commercial bodies, and we refuse to accept unilateral governance handed out by the FIA.”

“If the decisions announced by the World Council on the 29th of April 2009 are not revised, we have no choice but to withdraw from the FIA Formula One World Championship at the end of 2009.”

Renault’s announcement brings the number of teams threatening to withdraw from Formula One to five, with BMW also expected to make an announcement in the near future.

An emergency meeting between FOTA, F1 supremo Bernie Ecclestone and FIA President Max Mosley has been scheduled for the end of the week, with the parties set to thrash out a compromise agreement.

2009 Honda ST1300 And Honda VFR800 Now Available With New Livery

Honda’s ST1300 tourer returns to Australia in ‘09 with a new silver colour scheme - Digital Silver Metallic (that’d be silver) - to complement the more familiar Candy Glory Red (umm… red-ish).

Not to be outdone in the ‘paint-with-strange-names’ stakes, its famed VFR800 has also been released in two new colour schemes, Candy Glory Red (yup… red-ish again) and Sword Silver Metallic (‘nuther silver).

The new VFR800 also features gold wheels (ok, that’s better) as part of the new dress-up package.

Under the new paint of the ST1300 is the impressive V4 engine that is now well-recognised for its strong acceleration and effortless ability to swallow long-legged touring distances with rider and a full load.

With a low centre of gravity, the ST1300 is as stable as it is swift while also nimble in city traffic or on a belt along the coast. It also comes with ABS, a 29-litre tank, an adjustable seat (for all-day comfort in the saddle) and aerodynamic bodywork.

The now legendary sports touring VFR800 (which has just had its 23^rd birthday) is powered by a 782cc V4 fuel-injected VTEC engine producing 107hp (78kW) @ 10,500rpm and 80Nm @ 8750rpm. .

Sitting on a a lightweight, rigid twin-spar aluminium frame, the VFR features a 43mm HMAS cartridge-type telescopic front fork with stepless pre-load adjustment. At the rear, a single-sided cast aluminium swingarm mounted directly to the rear of the engine, Pro-link with gas-charged HMAS damper, 7-step preload and stepless rebound adjustment keeps the rubber to the road.

The VFR800’s responsive handling and power is now well-established.

With a low contoured seat, 22-litre tank capacity, optional luggage system and powerful multi-reflector headlights, the VFR is still a powerful contender in the sports touring segment after 23 years of continuous production. (Well done Honda on that one.)

Recommended retail for the 2009 VFR800 is $15,990 inc. GST (plus stamp duty, registration and dealer delivery) while the 2009 ST1300 retails at $24,690 inc. GST (plus, stamp duty etc.).

To check it them fully in their new paint, or to find your nearest dealer, got to:

www.hondamotorcycles.com.au

2010 Opel Astra Officially Revealed

After having been partially revealed to the web yesterday, GM has unveiled its 2010 Opel Astra and filled in some of the blanks in the process.

The latest Astra is scheduled for public debut at the Frankfurt Motor Show in September but at this rate there won’t be anything new to see.

Following in the Insignia’s footsteps, the Astra aims to be a class leader with widespread appeal. Opel is very much trying to bring new levels of refinement and technology to the compact class with its 2010 Astra.

The Astra rides on an all-new ‘mechatronic’ chassis that integrates mechanical and electronic controls and also features Opel’s FlexRide electronic driving system.

This allows the driver to choose between Standard, Sport and Tour settings which also adapt to driving style and corner speeds.

There are also new-generation adaptive bi-xenon headlights that can change in intensity and switch between nine different lighting settings depending on conditions.

Further improving safety is the Opel Eye front camera system which can read roadsigns and warn drivers of inadvertent lane departures.

The engine line-up will consist of four common-rail multiple injection CDTI turbo diesel units.

Sizes and outputs will range from 1.3 to 2.0 litres and 70 kW to 118 kW (95hp - 160hp). As previously mentioned, an ecoFLEX engine will also make an appearance.

It’s a similar affair for the petrol offerings with four engines available ranging from 1.4 to 1.6 litres.

Power outputs start at 74 kW (100hp) for the naturally aspirated 1.4 litre and and climb to 132 kW (180 hp) in the 1.6 litre turbo.

All but the bottom-spec engines will receive a six-speed transmission with a new compact automatic gear box with Active Select function also set to debut.

Pricing is still unknown but the range will kick off later this year with the five door hatchback. The three-door GTC Coupe will follow shortly thereafter with the wagon, four-door sedan, and cabriolet to arrive in that order.

There are no new official photos accompanying the press release below (the interior is still officially MIA sans a few spy shots), but we do have an all-new video showcasing the Astra in action below. Check it out.

2009 Lancia Delta 1.8 Di Turbo Jet: The Real Star Of Angels & Demons

The movie Angels & Demons opens nationally today, and the more motor-minded among you might have noticed the automotive star of the film and wondered what it is.

Well, it’s a 2009 Lancia Delta 1.8 Di Turbo Jet that Tom Hanks, as Professor Langdon, fangs around European streets like a man possessed. Maybe he is?

The direct-injection turbo engine punches out 147kw (200hp) at 5000rpm, with an impressive 320Nm of torque.

The Delta 1.8 Di Turbo Jet, available only with a six-speed auto, will shove its way to 0-100 km/h in a reasonable 7.4 seconds, topping out at 230km/h.

Fuel consumption is also quite low at 7.8 l/100Km.

The Delta has loads of other goodies including self-adaptive bi-xenon head lights and satellite-navigation, along with a semi-automated parking system called “magic parking”.

What else would you expect from a car in a movie about other worldly beings?

Oh, and we quite like the Delta’s European advertising slogan, “One angel, 200 demons”, referring to the Delta’s double soul: angelic on the outside, but with 200 demons (referring to the horsepower figure) inside. A neat link between the car and movie, to be sure.

Of course, you won’t get your hands on any Lancia models in Australia, with the Fiat subsidiary being a strictly European prospect.

Perhaps the angels are in charge at Lancia, and they don’t like that we’re ‘down under’…

2010 Fiat 500 Giardiniera Softroader Wagon On The Way?

Intended perhaps as a rival to the Mini Crossover, Fiat is rumoured to be considering a version of its upcoming Giardiniera wagon - essentially a stretched Fiat 500 - equipped with a four-wheel-drive system borrowed from the Fiat Panda 4×4.

While there has been talk of utilising a ’suicide door’ system, it will likely not stick too closely to its legendary Giardiniera three-door wagon roots.

We can thus expect it to look somewhat different to the style of the incredibly tiny 1960 500 Giardiniera (above). True to the usual softroader look though, we can expect to see integrated roof racks and Subaru Outback-like exterior trimming.

It is also rumoured to feature the retractable canvas roof, made famous by its classic forebear, and also featuring on the upcoming 2010 Fiat 500C.

It is believed that Fiat is aiming to produce around 30,000 Giardiniera units per year, with a 2010 launch planned. If this is true, we should see some official news and images in the not-too-distant future.

VW Unveils New Small Engine Range At Vienna

Volkswagen wheeled out two new additions to its extensive range of engines at the recent Vienna Engine Symposium, and both use the increasingly popular small-displacement, forced-induction formula.

A 1.2 litre turbocharged direct-injected petrol motor is the smallest of the pair, and produces 77kW (103hp) and 175Nm (129lb-ft) of torque.

Despite its small displacement, Volkswagen has managed to screw some decent power out of the all-alloy mill, and the wide torque curve should endow it with more than enough tractability.

The other powerplant is a 1.6 litre turbodiesel, which utilises a low-friction modular design that will make it the basis for future Volkswagen oil-burners.

The diesel will come in various tunes, starting with a 55kW (74hp) number, a 66kW (89hp) version and finishing with a 77kW (103hp) range-topper.

Both engines will be available in Euro-market Golfs and Polos from later this year, but Volkswagen Australia tells us there are no plans as yet to incorporate either engine into its local lineup.

With emissions regulations becoming tighter with each passing year and the price of fuel expected to rise once the world starts shaking itself out of recession, small-displacement turbocharged engines like these will undoubtedly become more and more popular with consumers.

In this field, Volkswagen arguably has a head-start. But expect to see greater numbers of manufacturers hopping on the small-engine bandwagon in the near future.