No Picture
General Article

Freedom From Debt

Freedom From Debt

” road to debt freedom begins with a single step.”

Welcome and hello!

This article was written to inspire you to take control of your financial life. You’re going to discover what you spend our money on, you’re going to organize your spending so you have control, and you’re going to eliminate unnecessary spending and focus on necessities and that which brings you joy in life. This is a life-changing thing you’re doing – you won’t be the same person you were in the beginning. You’re on a quest to find your financial self – powerful, self-reliant, and in control.

Financial management is something every person old enough to have money should practice. Do it consciously and you’ll be free of a major source of life’s stress (and stress will kill everything it touches – your relationships, your happiness, your health – even you).

The good news is it’s a very, very easy thing to do. The bad news is you have to change your habits (and most of us do not like to change our habits – they may be unhealthy, but they’re ours and they’re comfortable). Learning new habits takes each of us varying amounts of time (no rush – you have the rest of your life).

The key is to do something every day (doesn’t have to take long – maybe 5-15 minutes). What this does is get you thinking about taking control of your finances every day, which will lead to becoming financially conscious. You’ll feel good about yourself for finally taking control. Your mood will improve, and your stress level will diminish. This isn’t a quick fix – it’s a conscious choice for a lifestyle change. You’ll replace a bad habit with a good habit. You will have done it! What’s really cool is you can apply these same skills to any area of your life.

Do This First: Take the first step today. Start keeping track of every item you spend money on. For example, if you buy coffee on your way to work, list “6/5/10 – coffee – $3.” It’ll make you conscious of spending money – and it’ll change your life.…

No Picture
General Article

Stock Market Trading For Beginners and Become an Expert in Stock Exchange

Stock Market Trading For Beginners and Become an Expert in Stock Exchange

Stock market is something which is considered to be very tough by most people. They do not easily understand what is going on in this market and do not get to learn the trends so easily. Learning about the stock exchanges has become very simple and easy now with the advent of the online stock exchange schools. It is now possible for everyone to enroll themselves in to an online school and learn the most difficult of all concepts. If you are new to this field and have just started then you can easily take the stock market trading for beginners course which can be really helpful for you in order to know everything about the stock exchange.

This is a great way of learning new and difficult concepts as these courses are specially designed for better educate those who do not know anything about this field. These courses are formulized in a way which would be most effective for the beginners and the starters. You can improve your learning about the stock exchange in a great way and can easily become an expert in no time. The stock market trading training tells you about the simpler and easier methods that are used for improving the learning and enhancing the skills of people by providing them with complete training sessions. They are not just the courses but along with them the related tools are also provided so as to give maximum benefits to those who wish to learn these new concepts. As they are the beginners the training sessions are complete course to course guide that tells them about the next step which they should adopt in order to become an expert in the area.

The e-learning course for beginners has become really popular and famous among the people as the language of teaching is very simple and also the terms are easier to understand. People do not have to get help from any other source as these courses and trainings are enough to tell you everything about the stock exchange as well as its trends. The stock exchange course becomes very much easy and you would enjoy learning about this subject as you would have no difficulty in accessing the courses and trainings. You can easily enroll yourself and get your login name and password from your online school. After that you can easily find all of the online stock market courses in your login and can use them from any place where you have an access to the Internet.…

No Picture
General Article

Homeowner Loans Known As Secured Loans Still Remain – A Good Place to Start Are Tesco Loans

Homeowner Loans Known As Secured Loans Still Remain – A Good Place to Start Are Tesco Loans

To let the numbers speak first, they have a really low interest rate: 8.4% APR. This is their typical APR, it can even get lower. They offer loans between £7,500 and £14,999, and rates may vary just a little bit depending on the loan amount and on your personal circumstances and financial behaviour.

To get to other big advantages, the rate is fixed throughout the life of the Tesco loan, so the monthly repayments are fixed. Interest is calculated on a daily basis. Your first pay will have to be made only one month after the issue of the loan, but if you still feel the first payment period will be tough on you, you can opt for a payment break of 2 months. This will result in a 3 month payment break period for you. It is best, however, that you analyze in advance if you will need this opportunity or not, as there are no middle-term payment breaks.

With the payment break option, your loan period will be extended by 2 months, and the interest, which is chargeable throughout the loan, will be charged as well for the payment break. Payment breaks depend on certain criteria, so make sure a payment break is available for you if you are going to need one.

The Tesco loan term can be anywhere between 12 months and 120 months. The amounts are specified above, but should you need another amount, you can request it and it can be approved.

Another good piece of news is that there are no setup fees with Tesco loans. The only fees you would have to pay are the early settlement fees, in case you might want to repay your loan in advance. However, the maximum charge for early settlement is two months’ interest. Also, you have to be careful with repayments, as there is a £30 fee each time a monthly installment is not paid in time and a £30 fee when a default notice must be issued.

To give an example of a loan amount and repayments, for a £7,500 loan with a 36 months term, you’d have a monthly repayment rate of £235.39 (8.4% APR), and you’ll pay a total amount of £8,474.04 till the end. For a £14,999 loan to be repaid in a 5 year term, the monthly repayment rate will be £304.10 (8.3% APR), and the total amount payable £18,246.00.

If you need a greater amount than that offered, you may want to consider taking one of the secured loans or homeowner loans, as there are usually higher borrowing limits and lower interest rates. If you have a bad credit history, there are lenders who offer bad credit loans, provided that you are over 18 and employed.…

No Picture
General Article

Are Bad Credit Personal Loans Still Available in the Current Climate?

Are Bad Credit Personal Loans Still Available in the Current Climate?

In the not so distant past, credit was flowing at fire-hose strength with seemingly anyone eligible to be approved for finance of one kind or another. Loan lenders were falling over themselves to extend credit to people of all circumstances and credit history, with a poor credit rating not necessarily being a hindrance to having an application accepted. These times seem very long ago now, with the global financial markets in turmoil and credit lines being frozen left, right and center.

The credit crunch has left most banks scrambling to rearrange their balance sheets, with lending either stopping altogether or being charged much more for in higher interest rates, and capital reserves being built up. Other banks, of course, are no longer with us having either gone bust or been subsumed by rivals.

Given these circumstances, can people with poor credit ratings still expect to be able to get a loan?

If you don’t own your home, either outright or via a mortgage, then you’re going to struggle to have an application approved by any of the mainstream lenders unless you have a pristine credit record. Homeowners may have an easier ride, but this will depend on them having plenty of equity in their home – i.e. their home must be worth much more than any money they owe on it, such as a mortgage or secured loan. This is because the lender needs to be confident that even if property prices continue to fall, the house can still be sold at a price high enough to recoup the debt if the borrower defaults on the loan.

Specialist lenders do exist who will offer finance to people of less credit-worthy backgrounds, including people who rent their home and have had a checkered financial history when it comes to keeping a clean credit rating. The problem is, that many of these lenders charge extremely high rates, and are not willing to lend large amounts compared to the income of the borrower. Often, these lenders will require weekly collection of repayments in person, which may be off-putting to some, hinting as it does at the murky world of loan sharks even when the loans are nothing of the sort.

Other options include guarantor loans, where someone with a better credit rating vouches for the loan – this could be a parent or other relative, for example – but this is something of a niche product which isn’t yet particularly widely available.

There are, however, signs that things are starting to improve as banking institutions come to terms with their losses and credit begins to flow more freely again. There’s little prospect though of a return to the days of such easy credit as we saw just a couple of years ago, so people with poor credit ratings still might have to set their sites lower when looking for a loan, and pay more in interest than they ideally would like.…

No Picture
General Article

Rooting For Gridlock and a Tax Hike

Rooting For Gridlock and a Tax Hike

You don’t hear this very often, but I hope my taxes go up next year – and yours, too.

I do not have a burning desire to send more money to Washington. I don’t have a ton of disposable cash and no better place to use it. I do not buy the patently silly argument, propounded by Treasury Secretary Timothy Geithner and others in the Obama administration, that a tax increase on business owners like me will have no effect on employment. I think a tax increase is going to set back economic recovery, perhaps substantially.

Yet I have concluded that a tax increase, and a hefty one at that, is essential to make the point that the money our government spends really comes from someplace, and that ultimately that “someplace” is all of us. Our paying higher taxes will not encourage politicians to just spend more, because they already spend without constraint. Higher taxes will, instead, create the public pressure to receive value for every dollar spent. A tax increase is the only way to break the current mindset in which $1 trillion has become the new $100 billion – an amount that, only a few years ago, seemed like a whole lot of money.

Too many social costs these days are hidden. A large proportion of wage earners pay little income tax except for Social Security, and they are told, falsely, that they will get that Social Security money back from a “trust fund” that consists of government IOUs. But through lower cash wages or longer searches for work, those same wage earners indirectly pay for a host of burdens that their employers shoulder: pre- and often post-retirement health care, pensions, unemployment insurance, disability insurance, and in some cases, mandatory time off.

Politicians tell us that a handful of rich people and corporations can carry the load for everyone, or that we can keep taxes far below what we spend and trust economic growth to take care of the difference. Neither is true. (The latter argument reminds me of the merchant who bought socks for $5 a pair, sold them for $4 and explained to a customer, “I make it up on volume.”)

So I hope everyone’s taxes will go up, to restore spending sanity. Neither the Democrats nor the Republicans want to grant my wish. You might think this disappoints me, as it means my only real hope is for a long stretch of gridlock to prevail after the November elections. But I kind of like my chances.

The Bush income tax cuts are set to expire at the end of 2010, the same time the estate tax will return, if Congress doesn’t take action before then. In this case, everyone’s taxes will rise. The estate tax will be 55 percent and will have a lower exemption than it did when it was suspended ($1 million, down from the former $3.5 million).

President Obama wants to extend the tax cuts only for individuals who make less than $200,000 a year, and for couples who make less than $250,000.(1) The Republicans, on the other hand, are pushing to extend the tax cuts across the board. Former Sen. Fred Thompson is heading an ad campaign in which he argues that letting the tax cuts expire would be devastating to the economic recovery.(2) Those who would preserve the tax cuts argue that the American economy is too fragile to sustain an increased tax burden, and that even Obama’s proposed extensions are too limited to support job growth.

There’s no consensus on the estate tax, either. Democrats would like to return to the 2009 rates; Republicans see an opportunity to further vilify their opposition, hitting them with the “tax-and-spend” stick, as I noted in here in December.

I detest the estate tax. But at a $1 million exemption level, it will affect enough people to refocus attention on the question of whether we really want to tax the hypothetical value of something (since many assets have no published value), in the absence of a sale that would provide funds for paying the tax, just because someone happens to die.

Experience has taught me a simple truth about budgeting: There is never enough revenue. No matter how much money is available, whether for a household, a business or a government, it is always possible to spend more. Budgets work only when they serve to restrain spending. Right now, this country spends as though it has access to a limitless supply of money. This must change.

You may have caught on to my dirty little secret, which is that I am part of that small club (the “wealthy” as defined by Obama) for whom taxes are going to rise, sooner or later, no matter what. So …

No Picture
General Article

Rich Dad Poor Dad: How To Convert Ideas Into Reality

Rich Dad Poor Dad: How To Convert Ideas Into Reality

Are you among the several millions who have been exposed to the advice offered by Kiyosaki in his “Rich Dad, Poor Dad” best-selling book and support materials?

If so, are you among the 90% who the statistics suggest are not in a position to identify with the “rich Dad experience” shared in the book?

As a Poor Dad from Kiyosaki’s S-quadrant – Self-employed/Small business group, I want to apply “Step 10 of his process of developing our God-given powers: “Teach and you shall receive.””

I have drawn some important insights from “Rich Dad, Poor Dad” that I share in this article.

Rich Dad, Poor Dad is heavily skewed towards presenting an alternative view to the philosophy of “study hard so that you can get a good job or profession and achieve financial security.” It highlights the advantages of following the path of developing financial intelligence so as to effectively operate in the right-side quadrants of being an Investor or Big Business Owner.

A great deal of emphasis is placed on pointing to the inadequacies of being committed to striving for a good job or profession and working hard to accumulate savings. Kiyosaki actually makes a good case to show that “savers are losers”.

I come to Rich Dad, Poor Dad late – 6th decade and small business owner for over 3 decades. I could be excused for believing that Rich Dad, Poor Dad is not directly relevant for me. However, I want to share some valuable insights that I take from Kiyosaki.

New beginnings can start at any time

I was inspired by the reminder of the Colonel Saunders story of perseverance in selling his business idea. This came at a time when he could be deemed to have a failed career and at an age when others are focused on retirement.

This is good news for the increasing throngs who have been displaced from “secure” employment. The fact that there is hope and precedence for new beginnings is empowering.

I identify totally with the Mom & Pop operators and small business owners who have escaped the employment trap but have not been able to achieve financial independence after years of tireless work.

What does Rich Dad, Poor Dad have to offer to them?

We have changed bosses not our status

A powerful realization is that for many small business owners, the term “self-employed” is really descriptive of our true status. We are still “employed”. We have only changed bosses. In fact, I bet that like me you have actually taken on a far more demanding boss. We have become slaves to the business.

The Rich Dad, Poor Dad philosophy is that we should identify investments that do not consume a lot of our time. If the operations need to be managed then hire talented people to drive the process.

If you reflect on any time that you have spent being employed to others you can immediately see many benefits from having someone steering your ship while you provide the direction and monitor progress.

The spin-off benefits go beyond providing the business with objective and professional management. It also frees you up to develop your financial intelligence and to identify and manage other investment opportunities.

If you make the point that the business cannot afford to pay for professional management then you will be guilty of breaking two of Rich Dad, Poor Dad’s fundamental principles.

Delete: I can’t afford it

The first one is to delete the term “I can’t afford it” from your vocabulary. Replace it with the Rich Dad question “How can I afford this?”

If I may insert an empowering thought outside of the Rich Dad, Poor Dad content, it is the value of the concept of Afformations – the power that comes from asking “Why questions”.

So, “Why am I able to engage professional management and grow my investments?” replaces “I can’t afford to pay a manager.”

The sub-conscious mind actually determines our future. Our minds are designed to find answers. So by asking empowering questions we put our minds to work to find the answers. Start asking your sub-conscious to find answers for outcomes that you desire and watch for a transformation in those areas of your life.

Pay yourself first

The other reason why many small business owners become slaves to their operations is because they are subsidizing the business with their free labour. Self-imposed slavery!

Rich Dad, Poor Dad pointedly insists that to make the shift to financial independence we have to pay ourselves first. In fact, the more scary the owners of your debt or liabilities are the greater the benefit of paying yourself first.

The reason is simple. If you face terrible consequences for not paying up on time, you are …

No Picture
General Article

Banks Now Flooding the Sub-Prime Market With High Interest Credit Card Offers

Banks Now Flooding the Sub-Prime Market With High Interest Credit Card Offers

The economic meltdown and credit freeze played a major role in initiating the collapse of the sub-prime mortgage market. This devastating collapse resulted in banks writing off billions of dollars in bad debt. Since the sub-prime mortgage implosion, banks seemed to have got the message and had started behaving more financially responsible by denying people with poor credit scores the ability to borrow money. However, this seems to have only been a momentarily wake up call to lending responsibility as the banks have now started to promote cards with high interest rates to people considered sub-prime mortgage borrowers. That is, people who are at risk of becoming overwhelmed with debt.

Apparently the banks are either quite greedy or they did not actually learn lessons from the collapse of the sub-prime housing market. The sub-prime mortgage market has always been a profit generation tool of the banks due to the late fees they could charge and the high interest rates. Now that things are beginning to rebound, it appears the banks are looking for another way to make money. Issuing high interest credit is a way to making money from the high interest rates, annual fees, and late fees. They do not appear concerned about future massive defaults on the card payments, much like the massive amount of defaults that occurred with sub-prime mortgages. According to , in the last 6 months, “the number of credit card solicitations sent to consumers with FICO scores of between 620 and 660 has gone up 300%.”

Many experts suggest that this increase in high interest credit card solicitation by the banks is due to an improvement in credit conditions and the banks feel that making credit more available will improve the credit market. Or perhaps they just want to make a whole lot of money and not worry about the consequences because they think the government will bail them out. , has reported that the average interest rate for “sub-prime credit card holders is about.20%.”

It appears it is up to the consumer to prevent another economic meltdown. It is important for people to remember what happened in the sub-prime housing market and make sure it does not happen with the credit card market. Credit card targeted consumers must now take those credit card fliers and just toss them in the waste basket. If they get a marketing call, just say “no thanks” and hang up. The financial housing market collapse taught us all a lesson on greed and not reading and understanding the fine details of mortgage agreements. It is important for our future not to make the same mistake with the credit card market.

Creating a budget, living within our means, as well as prudent financial planning and investment, are essential factors to staying out of debt and living a happier financially sustainable life. The sub-prime mortgage implosion taught us that we all need to ask questions, do our research, and make more informed decisions regarding our personal finances, which includes credit cards.…