Month : June 2015

Debt Management

3 Debt Elimination Mindsets You Need To Have

Debt can be a real downer, especially when the people you owe it to keep calling day and night.

In order to get out of debt, you need to get in the right mindset. Here are three different mindsets that you need to start getting into.

It’s you or them

It’s a war between you and the creditor. You messed up and got into debt so they are winning. You now have to go on the offensive and attack that debt like it’s the last thing you’re ever going to do. They don’t care how you pay them as long as you do. Don’t let them control your life, sacrifice so you can set the tone and pay that debt down. It’s you or them, who’s going to come out the victor?

It’s now or never

When’s a good time to start getting out of debt? Now!!! Everyday you wait to tackle the debt you’re just digging yourself deeper in the whole to nowhere. If you wait, you’re just going to get more depressed and it’s going to be harder to get in the right mindset. There is absolutely no reason to wait. Just do it.

The Bare Necessities

No more going out, no more movies, and no more clothes. Yea, I said no more clothes. You have plenty to get you by, I promise. You need to cut back as much as you can and put that money towards debt. Yea life is going to suck for a little bit, but it’s going to suck even longer and a lot more if you don’t get rid of that debt.

You’re in control of your life, No one else. Take responsibility for your debt and take action today. No one ever succeeded without sacrificing a little. I’ll leave you with a quote by David Kenyon Webster

Those things which are precious are saved only by sacrifice.

Money Management

Different Situations When You Should Seriously Consider Taking Out A Loan

Taking out a loan is something that most people do not even want to take into account because of the fact that they do not want to deal with banks. What you have to understand is that loans are actually really good for dealing with various problems that can appear in a regular life cycle. There are loans that are perfect for personal reasons and loans that can help companies to take off. With this in mind, here are some situations in which you absolutely have to consider taking out a loan.

You Need Cash Because Of An Emergency

There are various emergencies that can appear and when you absolutely need loan options to consider. For instance, you may have utility bills that pile up and that you cannot get up-to-date with. In other cases you may be faced with a medical emergency that brings in healthcare bills. In such cases you may not actually have the necessary time to talk to friends or family members and there are some quick cash loans that are available in under 24 hours.

You Want To Increase Your Credit Score

When you have bad credit, the best way to increase it is to prove that you can deal with the situation in which you take out a loan. You can easily take advantage of what is known as bad credit loans. There are many that can be taken out. As you repay it and you show that there are no problems in doing that, your credit score goes up. You may need to take out a series of loans but it is a guarantee that you will be able to make really good choices and as time passes, you will eventually be faced with the possibility of taking out a loan from a bank.

You Want To Make A Financial Investment

You can obviously take out many different loans in this case and it is very important that you are patient enough to be 100% confident that the loan you take out will be repaid. You cannot actually rely on the investment you are about to make since there is no such thing as a guaranteed investment. Scams appear all around the world. Calculate everything properly. Only take out a loan if the rates are suitable and your current income sources can bring in the finances that you need to make repayments on time.

On the whole, these are the most common met situations in which you absolutely have to consider loans. However, it does not mean that you necessarily need to take them out. Make sure that you understand the exact financial situation you are in. This is what will help you to make the best possible decision, the one that will help you out.

Extra Income

Want To Work For Yourself? 5 Tips On How To Do It Successfully

Becoming an entrepreneur isn’t necessarily as daunting or scary as it may initially seem. There is a method to the madness, and most entrepreneurs will tell you, it’s a way of acting rather than thinking. This is a key point to remember. It’s not in the way you think about your potential venture or business plan, but rather, it’s in the way you act towards getting there. The five tips below will help you act your way to success!

1)      Figure out what it is you want to do. Yes, that sounds rudimentary and obvious, but really, take the time to think about your passion, your desire, your dream. Without a burning desire to make something happen, it likely never will, because you won’t have the drive to make it happen, especially when faced with the unknown or an obstacle.

2)      Once you figure out what it is you are going to do and dedicate yourself to accomplishing (now here’s the kicker), allow for change. This may seem counter-intuitive, but just remember there isn’t only one way to get to where you want to go, and sometimes, you may take a few detours and end up at a place that’s even better than the one you were originally going for. There may be roadblocks and obstacles along the way (in fact, chances are there will be). So just remember, at each step of the way, take a look at where you are and act according to where you see your goal, whether original or modified, and what you need to do to get to the next phase.

3)      Networking is key to making your business successful. Chances are you have everyone you need to make your business a success within just a few degrees of separation. Send emails to your friends, old colleagues, family, etc. Reach out to new people you’ve never met in industries and roles that you think you need to learn about. Go for informational sessions just to find out what they do, how things happen, etc. The more you can network, the better. Try finding local networking groups in the area. Meetup.com, LinkedIn Groups and other services can guide you to finding just the people you need.

4)      Once you’ve talked to people and have done your research, and are off to a good start, build your team! Your team might be the most important part of your new venture. Make sure you choose wisely and that not only expertise and skills, but character and personality are complimented. You want to choose people that will be just as dedicated and “in it for the long haul” as you are, so choose a solid group that has a similar vision but can bring something “extra” to the table.

5)      Know how much you are willing to spend on your venture. Before you even begin, figure out just how much you are willing to lose. Sounds painful, yes, but realistically, if you don’t set an amount, you may find yourself in an even more painful situation. Figure out how much of your own money you are willing to put into the business and stick to that amount.

This is an article by the writers at www.ActionTrumpsEverything.com. To learn more about how to act like an entrepreneur, as well as to find out more about how to use a new entrepreneurial formula called CreAction to work for your goals, please go to www.actiontrumpseverything.com for a free copy of the Action Trumps Everything online book.

 

Investing

US consumer signals improve

The Federal Reserve will be maintaining a close eye on inflation and consumer spending in early 2014 after it saw enough positive signs in the US economy at the end of 2013 to begin tapering its $85 billion a month bond-purchasing program.

Early indications suggest that the taper could increase in momentum the next time the Fed meets and it’s the rate of acceleration of the taper which is likely to be discussed at length by many analysts and those learning CFD Trading.

US consumer belief surged in December as Americans’ upgraded their view on the economy too.

The Thomson Reuters/Institution of Michigan’s preliminary examining on the overall catalogue on consumer sentiment jumped to 82.5 for Dec, up from 75.1 in November.

This was the best reading since July, and exceeded analyst forecasts of 76.

Encouragingly, most of the improvement was among homeowners with incomes below $75,000, with confidence among upper salary households showing no difference from last month’s figure according to the Director of the survey, Richard Curtin.

The survey’s measure of current economic conditions jumped to 98.6 from 88.0 in November, beating the expectations for 90 and up 13% from the previous December. Its gauge of consumer expectations increased to 72.7 by 66.8, above the predicted 68.

Senior vice leader of investor contact at COMC (Capital One Monetary Corp) Jeff Norris said that ‘This is a slower come back in confidence levels, therefore consumer behaviour has remained of a conservative type for a longer time period in this cycle.’

Michigan’s survey also revealed that Americans anticipate an inflation price of 3% during the next year. Over the next five years, US citizens expect a 2.8% rate of inflation which was lower than the 2.9% they thought last month.

In a separate report the Commerce Department revealed that personal income and personal spending nudged up 0.2% and 0.5% respectively in November.

‘Moods are getting better and we’re starting to see consumers get a little more active,’ noted Michael Moran, head economist at Daiwa Capital Markets America in New York.

The figures follow an improvement in various sectors of the US economy. 203,000 new jobs were created in November according to the latest non-farm payrolls.

Money Management

4 Mistakes Made With Structured Settlements

If you have been awarded a structured settlement through divorce, a lottery winning, a legal suit or as a result of some other circumstance, good for you.  Structured settlements can be a nice little source of income and even take into account the person paying them – insomuch that they don’t have to pay everything up front.  If you need the cash from a structured settlement right now however, these payments that have been set up to take place through time, probably don’t suit your current needs. That’s where structured settlements fall short.  

There are companies however that will buy your structured settlement from you for a predetermined amount of money thereby possibly relieving your financial situation.  It is vital that you research the company to whom you sell your structured settlement. Here are a few things to avoid. 

4)LEAPING BEFORE YOU LOOK

IMAGE 1  MISTAKES WITH A SETTLEMENT

 If you haven’t at some time in your life received the advice to ‘shop around’, you must have been living underneath a rock somewhere.  Surely your parents told you this and every financial advisor in the world says the same thing.  Never settle for the first offer… always, always shop around.  There are numerous companies out there willing to purchase your structured settlement.  Make sure you don’t go with the wrong one.

 3) NOT CONSIDERING A PARTIAL BUYOUT 

IMAGE 2  MISTAKES WITH A SETTLEMENT

If you don’t need the entire lump sum right off the bat consider having the buyout company purchase only what you need right now, leaving the rest of the structured settlement as monthly payments.  This can provide you with extra money every month, until of course the final payment amount is met, that you wouldn’t have ordinarily had.  You’re basically only taking what you need and leaving the rest.  

2) NOT SIGNING ON THE DOTTED LINE 

IMAGE 3  MISTAKES WITH A SETTLEMENT

Two things should be considered, at the very least, when having your structured settlement purchased.  Never do anything without a contract and don’t be rushed into anything.  Make sure that the contract is complete and applicable to your specific agreement.  Also, a company that is rushing you should set off all sorts of bells and whistles in your mental warning system. 

1) BLOWING ALL YOUR MONEY RIGHT OUT THE GATE 

IMAGE 4  MISTAKES WITH A SETTLEMENT

This is especially true if you get your lump sum all at once.  Blowing that money on something frivolous and short-lived is going to leave you with an empty pocket and possibly even more expenses than you had to begin with.  Don’t make the fatal mistake that many lottery winners have made. 

The right structured settlement purchasing company will let you know how long you will have to wait for your money.  These types of agreements usually find their way to you within 6 to 8 weeks after the agreement has been completed.  The company now takes over receipt of the structured payments, but you in return get a cash award all at one time.  

By using your favorite search engine and entering the words cash for annuity payments you should be able to find a company that can do this for you. What’s even nicer is if you can get all of the company that will find the best deal for you, since there is obviously more than one company out there involved in this type of transaction.  You want the best rates after all and the best deal.  You want a reputable company, not some fly by night Johnny-come-lately.  All of this said, remember to take care that you don’t fritter away this found money.