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Monday, December 8, 2008
All over the world people are turning into little squirrels. They are gathering up their nuts and seeds and stuffing them away for "spring." They are passing up opportunities to conserve what little they have left because they do not want to be left with nothing at all when this economy turns around. This is absolutely the wrong thing to be doing right now. While of course people should be shoring up their financial situation, they should not be ducking their heads in the sand and hiding money in the mattress.
The first thing you should do is form a clear and concise plan of what your goals and objectives are for the next three years. Your plan should include a very precise snapshot of where you are financially right NOW! If you have not been keeping careful track on your monthly expenses and income you have some work to do. You cannot change anything until you first know where you are. Once you have that baseline you can decide where you would like to be in three years. Start off with thinking of the amount of income you would like to have and the different things you would like to have in your life: a new car, home, toys, charitable giving, money for your child's school etc. Once you have thought about these things then figure out how much each of these things will cost you. With your current financial snapshot and your "dream" list completed you then are in a position to figure out how much you need to earn to accomplish those goals in three years. The more income you want, the higher level of service or "effort" will be required on your part.
You will want to build into your financial plan both a way to reduce your financial obligations and a way to build up your wealth. Take your current income and divide it in a way you feel comfortable to accomplish these goals. Make sure to include a reoccurring monthly amount for starting a business or an investment account. If you solely focus on eliminating debt you will force yourself into not being able to act on opportunities until you have all your debt paid off. This cycle gets you no where. You will have no savings and never be able to act on your goals and dreams. We all know the debt cycle. Somehow just when you are almost finished paying everything off... boom the car breaks down or someone needs braces. By having a monthly wealth building account you have money set aside to invest and grow a business.
While your wealth building account grows you want to keep an eye out for bargains and potential ways to either grow your business or start a new business. An example right now would be consultants for people looking for jobs. As the job market shrinks more and more people need help to differentiate themselves from other job seekers. There are countless ways an entrepreneur could help people get and find jobs. You should also be on the lookout for innovative ways to improve things you use all the time. New and improved products always have a place in the market. Also start to pay careful attention to the way millionaires and more importantly billionaires are behaving in the market place. If you watch closely, they will give very big clues on stable companies and markets that it is wise to think about investing in. Many people make massive fortunes in troubled economic times. Its all a function of the way you think and how well you prepare yourself to meet challenges head on.
One of the most important things you can do to improve your earning capacity is to increase your knowledge and more importantly your self-confidence. Simply reading a book a week or watching a motivational video can help give you the confidence to take action on your goals and dreams. Nothing happens while you are sitting around complaining about the economy. The prizes in this new era will go to the people who are not afraid to invest in themselves and take action even when others are hiding from the world.
The first thing you should do is form a clear and concise plan of what your goals and objectives are for the next three years. Your plan should include a very precise snapshot of where you are financially right NOW! If you have not been keeping careful track on your monthly expenses and income you have some work to do. You cannot change anything until you first know where you are. Once you have that baseline you can decide where you would like to be in three years. Start off with thinking of the amount of income you would like to have and the different things you would like to have in your life: a new car, home, toys, charitable giving, money for your child's school etc. Once you have thought about these things then figure out how much each of these things will cost you. With your current financial snapshot and your "dream" list completed you then are in a position to figure out how much you need to earn to accomplish those goals in three years. The more income you want, the higher level of service or "effort" will be required on your part.
You will want to build into your financial plan both a way to reduce your financial obligations and a way to build up your wealth. Take your current income and divide it in a way you feel comfortable to accomplish these goals. Make sure to include a reoccurring monthly amount for starting a business or an investment account. If you solely focus on eliminating debt you will force yourself into not being able to act on opportunities until you have all your debt paid off. This cycle gets you no where. You will have no savings and never be able to act on your goals and dreams. We all know the debt cycle. Somehow just when you are almost finished paying everything off... boom the car breaks down or someone needs braces. By having a monthly wealth building account you have money set aside to invest and grow a business.
While your wealth building account grows you want to keep an eye out for bargains and potential ways to either grow your business or start a new business. An example right now would be consultants for people looking for jobs. As the job market shrinks more and more people need help to differentiate themselves from other job seekers. There are countless ways an entrepreneur could help people get and find jobs. You should also be on the lookout for innovative ways to improve things you use all the time. New and improved products always have a place in the market. Also start to pay careful attention to the way millionaires and more importantly billionaires are behaving in the market place. If you watch closely, they will give very big clues on stable companies and markets that it is wise to think about investing in. Many people make massive fortunes in troubled economic times. Its all a function of the way you think and how well you prepare yourself to meet challenges head on.
One of the most important things you can do to improve your earning capacity is to increase your knowledge and more importantly your self-confidence. Simply reading a book a week or watching a motivational video can help give you the confidence to take action on your goals and dreams. Nothing happens while you are sitting around complaining about the economy. The prizes in this new era will go to the people who are not afraid to invest in themselves and take action even when others are hiding from the world.
About the Author:
When you change your habits, actions and attitudes, your whole life will change. Set aside several minutes each day to work on your goals. Click on http://www.GlobalSuccessILG.com to learn about how to increase your income and create wealth. This site covers topics from tax strategies, to growing your business and many more. Christina Helwig is an attorney and VP of Wealth Expressions, Inc.
posted by Credit Counseling at
11:22 PM
0 Comments
Online banking is now a normal way of banking but not very long ago it was practically unheard of when it came to banking. Only a few short years ago in 1995, Saving Bank was the originator of the online banking option when they gave clients a choice of being able to look at their accounts and to do certain banking online. Today practically everyone uses online banking to take care of their checking and savings accounts. They online bank to pay bills, keep track of their outgoing and incoming funds and even set up accounts that can be automatically debited for the amount of a bill on a recurring basis.
When online banking first became popular it was not nearly as sophisticated as it is today. With the speed of computers and the advance of technology, a purchase is immediately deducted from your checking account when you used a debit card. Unlike the days of writing checks and waiting for up to a week or longer for them to appear on your account, the money is immediately deducted and there is less chance of messing up your account balances. Another great thing about online banking is the option of being able to access your account at any time. The banks close at a certain time usually between 4 and 5. If you are not able to get there you have to either spend your lunch time waiting at the bank or take time off to go. When you online bank, you can take care of your account at two o'clock in the morning if that is when you choose.
There are many banks to choose from when it comes to keeping track of your balances and TCF is one of them. For an easy way to keep track of your banking, TCF offers the way to check your balances, pay bills, transfer funds, and let you bank during hours that are convenient for you. Just like all the other banks that have taken the initiative and gone with online banking this is one way to keep track of your money and have the convenience of being able to check your deposits, withdrawals, and transfers all from the privacy of your own home. TCF is just one of the many banks that offer online banking today.
Another one is Capital One. The basics are just about the same with online banking no matter what bank you decide to choose. Some may offer a few more incentives to get you to choose their bank, such as rounding up the change from using a debit card and putting it in your savings. However, they all basically offer the same services. It is just the convenience they offer that is so appealing.
The added benefits of financing your home, your car, or practically any other big purchase you want to make using Capital One or TCF is going to be about the same except the interest rates may vary. Often this is a result of your credit score rather than what a finance company, bank, or other lending institution offers when it comes to interest rates.
When online banking first became popular it was not nearly as sophisticated as it is today. With the speed of computers and the advance of technology, a purchase is immediately deducted from your checking account when you used a debit card. Unlike the days of writing checks and waiting for up to a week or longer for them to appear on your account, the money is immediately deducted and there is less chance of messing up your account balances. Another great thing about online banking is the option of being able to access your account at any time. The banks close at a certain time usually between 4 and 5. If you are not able to get there you have to either spend your lunch time waiting at the bank or take time off to go. When you online bank, you can take care of your account at two o'clock in the morning if that is when you choose.
There are many banks to choose from when it comes to keeping track of your balances and TCF is one of them. For an easy way to keep track of your banking, TCF offers the way to check your balances, pay bills, transfer funds, and let you bank during hours that are convenient for you. Just like all the other banks that have taken the initiative and gone with online banking this is one way to keep track of your money and have the convenience of being able to check your deposits, withdrawals, and transfers all from the privacy of your own home. TCF is just one of the many banks that offer online banking today.
Another one is Capital One. The basics are just about the same with online banking no matter what bank you decide to choose. Some may offer a few more incentives to get you to choose their bank, such as rounding up the change from using a debit card and putting it in your savings. However, they all basically offer the same services. It is just the convenience they offer that is so appealing.
The added benefits of financing your home, your car, or practically any other big purchase you want to make using Capital One or TCF is going to be about the same except the interest rates may vary. Often this is a result of your credit score rather than what a finance company, bank, or other lending institution offers when it comes to interest rates.
About the Author:
Get the further detailed information about Online Internet banking, Rockland Trust Online Banking, Regions Online Banking, TCF Online Banking, TD Banking at onlinebanking.businessinfoworld.info
posted by Credit Counseling at
12:13 PM
0 Comments
In America, our seniors are in a crisis. Health-care costs are at all time highs, including prescription drugs and normal living costs. Some seniors are opting to skip their prescriptions to pay for groceries, others are rationing their drugs to last twice as long. If you or a loved one have taken these drastic steps, or if you have gone back to work in an attempt to afford living, you should know what thousands of seniors know.
There is light at the end of the tunnel. Some people are beginning to take action in ways that have not been seen before: the reverse mortgage.
With the popularity of this mortgage increasing many people are asking, "what does it take to qualify?" With few requirements, it is one of the easiest mortgages to get and one that truly has long lasting benefits for the homeowner.
The requirements are simple and straight-forward:
You must be 62 years of age or older.
You must be a homeowner.
Equity in your residence
Getting a reverse mortgage will certainly make life easier to live, if not far more enjoyable. It is important to know that you are still responsible for your home. All maintenance and upkeep is yours to do or hire and proper insurance must be adhered to. Taxes are also the responsibility of the homeowner as well.
Reverse mortgages offer tremendous benefits to those that quality, but they are not appropriate for everyone. If your property is in poor condition, it may not qualify as homes need to be inspected and meet specific standards through either the loan company or the government. If you are planning on selling or refinancing a home within the next few years, a reverse mortgage is also not for you.
There is light at the end of the tunnel. Some people are beginning to take action in ways that have not been seen before: the reverse mortgage.
With the popularity of this mortgage increasing many people are asking, "what does it take to qualify?" With few requirements, it is one of the easiest mortgages to get and one that truly has long lasting benefits for the homeowner.
The requirements are simple and straight-forward:
You must be 62 years of age or older.
You must be a homeowner.
Equity in your residence
Getting a reverse mortgage will certainly make life easier to live, if not far more enjoyable. It is important to know that you are still responsible for your home. All maintenance and upkeep is yours to do or hire and proper insurance must be adhered to. Taxes are also the responsibility of the homeowner as well.
Reverse mortgages offer tremendous benefits to those that quality, but they are not appropriate for everyone. If your property is in poor condition, it may not qualify as homes need to be inspected and meet specific standards through either the loan company or the government. If you are planning on selling or refinancing a home within the next few years, a reverse mortgage is also not for you.
About the Author:
A MN Reverse Mortgage could possibly be a fiscal life saver for either you or your loved one. To find out more about if a Reverse Mortgage in MN is right for you call Mike Kraus at (763) 355-8540.
posted by Credit Counseling at
12:06 PM
0 Comments
