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This article is the seventh of a thirteen-part series that explores the core tenets of Get Rich Slowly.

I struggled with debt for over a decade. I made several attempts to tackle the trouble, but nothing seemed to work. Compulsive spending was part of the problem — I bought anything I wanted, even if I couldn’t afford it — but there was another factor, too.

Everything I’d read gave the same advice for debt reduction: Start by paying off your highest-interest rate debt. I understood the logic behind this, but I couldn’t make it work.

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According to the Wall Street Journal

The following appeared in the Wall Street Journal’s November 7-8 edition. If the Nancy Pelosi health care plan passes, here are surprises awaiting the American people.

The following costs were estimated by the Congressional Budget Office:

An individual earning $44,000 before taxes who purchases his own insurance will have to pay a $5,300 premium and an estimated $2,000 out of pocket expenses for a total of $7,300 per year (17% of pre-tax income).

A family earning $102,100 per year before taxes will have to pay a $15,000 premium plus an estimated $5,300 out of pocket, for a total of $20,300 (20% of pre-tax income).

Oh, the fees and costs to Americans have apparently NOT yet been worked out.

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Do you have debt? If you do, you have the option to consolidate your credit cards. And if your debt is more than $5,000, you should seriously consider taking some type of action to eliminate your debt. Having debt can steal your dreams and limit your future, but there are things you can do to get out of debt and move forward. You have a few different choices as long as your debt situation has not gotten critical.

There are a lot of debt settlement companies advertising their services and they do have their place, but it is a better idea to checkout credit counseling first. While debt settlement says they can have you debt free in 3 years, but at what price? Full Article…

The information superhighway is getting easier and easier to jump on, as there seems to be free or inexpensive public internet access at new locations on a daily basis. I myself recently indulged in the replacement of my old computer, and my new state-of-the-art laptop with wireless capability has opened up what seems to be endless opportunities for me to use my new toy easily at multiple locations (translation: work more). On my recent vacation, I toted along my laptop and was able to find open wi-fi networks I could utilize at my hotel, restaurants, coffee shops, and of course the airport.

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Australian economists believe that more interest rates are likely following the Australian central bank raising its growth forecasts for the Australian economy.

On Friday, the Reserve Bank of Australia issued its quarterly statement on monetary policy, in which it said that official interest rates remained relatively low.

The central bank has lifted rates twice over the last two months, hiking interest rates by 25 basis points in October and again at the start of November.

Many analysts believe that a further rate hike in December is likely, and would not pause the tightening cycle until mid 2010, or until the official interest rate stands at 4.25 per cent.

The central bank has forecast GDP growth of 1.75 per cent for the 2009 calendar year, and expects the economy to grow by 2.25 per cent for the year ending June 2010, and 3.25 per cent by the end of 2010.

Previously the RBA expected growth of 1 per cent and 2.25 per cent, respectively.

Despite the prospect of further interest rate hikes, some analysts suggest that mortgage borrowers will be spared an increase next month.

The central bank expects inflation to be moderated as a result of a slowdown in wage growth, and lower prices for imported good due to the stronger Australian dollar.

The RBA expects a further moderation in price pressures following a slowdown in wage growth and lower prices for imported goods.

The central bank has a target range for inflation of between two and three percent over the medium-term.