Variable vs. Fixed... what to do?

Over the past year or so, I have become increasingly aware of my own economic situation. I have placed myself in debt from college the size of Donky Kong... he now resides on my shoulders most of time. I need to get rid of this gorrilla before I get crushed under its weight.

Being an artist sure doesn't help...

With the impending finacial crisis on the horizontal and interests rates ready to rise, what the hell do I do with a loan that has a variable interest loan? I make peanuts and banks seem unwilling to give me a chance to fix the interest rate. So will I just watch the water rise above a threshold or do I have an option?

It is, alas, not reasonable to expect to get a favorable interest rate when you are a high risk account. Short term, I'm out of ideas, but long term the best way to get a more favorable rate on your loans is to establish yourself as a better risk customer. When I was younger, I had debt greater than a couple of years of annual income. However, I was able to get the interest rate to zero by making the minimum payments EVERY month on EVERY bill and getting a good credit rating so that I would receive offers for free transfers to credit card companies giving me zero percent credit for six months or so.

When you do roll over your debt to a credit card, keep it marked on the calender when the zero percent (or low interest rate) offer is going to expire and be ready to roll over your debt to ANOTHER credit card with a low or zero percent offer. I did this for years and even though I was low income, because I was able to keep the debt from snow-balling, I eventually got it all paid off.

But you really need to be a good record keeper to make this work. Skip some meals if you must but make that minimum payment. If you screw up and miss minimum payments, your credit rating is affected and you no longer get the best offers. And, to add insult to injury, you have to pay fees and higher interest rates. I have been there myself and I know how tough it is.

The conservation movement is a breeding ground of communists
and other subversives. We intend to clean them out,
even if it means rounding up every birdwatcher in the country.
--John Mitchell, US Attorney General 1969-72

area where a lot of people are selling their art. Some is good and some is terrible.

being an artist doesn't have to mean that you live in poverty. These aren't the greatest of times for any of us, but some areas of the art field are doing better than others. I know fellow artists who make over $300,000 a year in the film industry, for example. During the Clinton years, I made a six figure income designing collectibles and toys, as well as doing freelance animation. You may just need to find your niche to improve your income. and in turn, improve your interest rate.

Its really tough right now. All I do is go to work, pay my bills, and try not to let my financial predicament get me down. As of right now, I'm a bit low but will find a way to get my spirits up.

I will be trying to get into the gamming market, since I did earn a 3D Digital Animation Associates Degree. We'll see if I can make it work...

Here's my web site: http://www.maxdzine.com

Sorry for responding so late.

Your design work is excellent and your draftsmanship very solid-you shouldn't be having trouble. EA Sports is hiring here in Florida (if you are interested). The art director and one of the animation directors are old associates of mine, so I can help you get your portfolio to the right people. The hours are long there and the work is intense, but employees are well compensated for their time.