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Monday, February 2, 2009
Internet users are often confused at the term "wealth wonk." For those who aren't familiar, a wealth wonk is simply someone who studies wealth, finance, strategies, and trends for one reason or another. Becoming a true Wealth Wonk means knowing when to strike on a business opportunity and when to know when to fold on a bad hand.
Making a good decision on an investment is an obvious way of making a return on an investment. But the many factors that go into weighing the benefits and pitfalls of investments aren't always reviewed as they should. Keeping in mind the risk, investment amount, government and bank influence on the decision, and any repercussions the investment may have should be discussed. The best investment is going to have minimal interference with lenders and government, be low risk, and have a high payout- but don't expect to find too many of such investments.
Credit is something that Wealth Wonks should build, but not to the extent where they rely on it. Credit is best to have just in case of emergency, and actually used only when needed. Using credit to buy a car or television, for instance, should be second-guessed. Instead, try saving up money to buy the products all at once so that interest isn't paid. Wealth Wonks will enjoy thousands of dollars in saved money that they didn't have to spend on a bank's generosity, and instead spend money elsewhere where it's needed.
Even in a failing economy, Wealth Wonks are able to turn profits by acknowledging what the economy needs and what the investor can provide. This partly comes from the fact that Wealth Wonks are trained to foresee trends in a condition called "trained fleas." Spotting bandwagon trends, and deciding whether or not they are good to get into or when to sell out of them, is how fortunes are made even when times are tough.
Long term planning is a personal goal of the Wealth Wonk. Wealth Wonks that start out early are proven to have the highest chance of success in later years. Often times, it isn't uncommon to see a Wealth Wonk becoming keen on their finance intellect in their early 20's, and then benefiting from their efforts only years later. Being financially stable, as we can see, is a matter of choice and not a matter of luck.
Becoming a wealth wonk is a long road for those who are just starting out in building a financial empire. There are books to be read, published magazines to keep up to date on, and a wealth of information found online to browse through. And if one is a physical learner, getting personalized help over the Internet is an option in becoming a financially intelligent Wealth Wonk.
In Conclusion
Wealth Wonks are hard to spot amidst so much troubles with the economy, but they do indeed prevail even under trying conditions. To become one of the elite, go online to see how you can secure your finances for a better future today.
Making a good decision on an investment is an obvious way of making a return on an investment. But the many factors that go into weighing the benefits and pitfalls of investments aren't always reviewed as they should. Keeping in mind the risk, investment amount, government and bank influence on the decision, and any repercussions the investment may have should be discussed. The best investment is going to have minimal interference with lenders and government, be low risk, and have a high payout- but don't expect to find too many of such investments.
Credit is something that Wealth Wonks should build, but not to the extent where they rely on it. Credit is best to have just in case of emergency, and actually used only when needed. Using credit to buy a car or television, for instance, should be second-guessed. Instead, try saving up money to buy the products all at once so that interest isn't paid. Wealth Wonks will enjoy thousands of dollars in saved money that they didn't have to spend on a bank's generosity, and instead spend money elsewhere where it's needed.
Even in a failing economy, Wealth Wonks are able to turn profits by acknowledging what the economy needs and what the investor can provide. This partly comes from the fact that Wealth Wonks are trained to foresee trends in a condition called "trained fleas." Spotting bandwagon trends, and deciding whether or not they are good to get into or when to sell out of them, is how fortunes are made even when times are tough.
Long term planning is a personal goal of the Wealth Wonk. Wealth Wonks that start out early are proven to have the highest chance of success in later years. Often times, it isn't uncommon to see a Wealth Wonk becoming keen on their finance intellect in their early 20's, and then benefiting from their efforts only years later. Being financially stable, as we can see, is a matter of choice and not a matter of luck.
Becoming a wealth wonk is a long road for those who are just starting out in building a financial empire. There are books to be read, published magazines to keep up to date on, and a wealth of information found online to browse through. And if one is a physical learner, getting personalized help over the Internet is an option in becoming a financially intelligent Wealth Wonk.
In Conclusion
Wealth Wonks are hard to spot amidst so much troubles with the economy, but they do indeed prevail even under trying conditions. To become one of the elite, go online to see how you can secure your finances for a better future today.
posted by Credit Counseling at
8:40 PM
0 Comments
Ask any high school senior what their credit score is and they will reply with a Huh? After all this response should be too surprising. Most high school seniors are to busy for trivial things such as credit scores and student loans. Then the flags go up when they find out that do to their poor credit scores they cannot get a standard student loan. This is the point where most students begin to get discouraged.
Instead of getting discouraged your first line of defense should be seeking a cosigner. Approach your parents, grandparents, friends, and even loved ones. Normally when you ask someone to cosign you are immediately met with rejection. Be honest and upfront let them know that you need help, and you would like them to cosign to aide in continuing your education. Chances are theyll be more willing to cosign for a college career than a car loan. Whoever it is that you do approach make sure that you have your career plans in hand. Do not approach an individual without an action plan.
If you do land a qualified cosigner this works out to your advantage. The financial institution will take the cosigners credit score into consideration. Thus landing the student a better loan with a lower interest rate. If a student has a poor credit score chances are this may be the best route for you.
Ok its a swing and a miss You give it your best shot and you still cannot find a qualified co-signer. You next best option for a student loan is to contact banks as well as other lending institutions. Your goal by doing so is to find out if there are any alternative methods of financing your education. Many times these lending institutions will have a high interest rate solution. I bet you seen that one coming a mile away!
The good news is that a higher interest rate option isnt as bad as it sounds. In the majority of cases most college degrees take a minimum of four years. This means that you will have time to start rebuilding your credit. When the big day arrives and it is time for you to pay the piper chances are you will be able to refinance your student loan at a lower interest rate.
Theres also another option that you should be aware. Theres a loan called a combination loan what this does is allows you to consolidate all your bad debts and then apply for a big loan to pay everything off. By using the consolidation method chances are you will end up paying a much lower interest rate.
Depending on your financial situation you may want to consider applying for a Stafford and or a Perkins loan. In most cases these loans are relatively easy to qualify for. The great thing about these loans is that they normally have low interest rates.
As a student taking a step towards college is a huge step. For some this is probably the biggest step that you have taken thus far in your life. The truth is getting financial aide for college is nothing more than a numbers game. If all else fails run to the Internet and do a search for student loans, and free scholarships. Keep applying for every loan and scholarship that you can find. I can pretty much guarantee you that you will be surprised at the amount of money you can come up with.
Instead of getting discouraged your first line of defense should be seeking a cosigner. Approach your parents, grandparents, friends, and even loved ones. Normally when you ask someone to cosign you are immediately met with rejection. Be honest and upfront let them know that you need help, and you would like them to cosign to aide in continuing your education. Chances are theyll be more willing to cosign for a college career than a car loan. Whoever it is that you do approach make sure that you have your career plans in hand. Do not approach an individual without an action plan.
If you do land a qualified cosigner this works out to your advantage. The financial institution will take the cosigners credit score into consideration. Thus landing the student a better loan with a lower interest rate. If a student has a poor credit score chances are this may be the best route for you.
Ok its a swing and a miss You give it your best shot and you still cannot find a qualified co-signer. You next best option for a student loan is to contact banks as well as other lending institutions. Your goal by doing so is to find out if there are any alternative methods of financing your education. Many times these lending institutions will have a high interest rate solution. I bet you seen that one coming a mile away!
The good news is that a higher interest rate option isnt as bad as it sounds. In the majority of cases most college degrees take a minimum of four years. This means that you will have time to start rebuilding your credit. When the big day arrives and it is time for you to pay the piper chances are you will be able to refinance your student loan at a lower interest rate.
Theres also another option that you should be aware. Theres a loan called a combination loan what this does is allows you to consolidate all your bad debts and then apply for a big loan to pay everything off. By using the consolidation method chances are you will end up paying a much lower interest rate.
Depending on your financial situation you may want to consider applying for a Stafford and or a Perkins loan. In most cases these loans are relatively easy to qualify for. The great thing about these loans is that they normally have low interest rates.
As a student taking a step towards college is a huge step. For some this is probably the biggest step that you have taken thus far in your life. The truth is getting financial aide for college is nothing more than a numbers game. If all else fails run to the Internet and do a search for student loans, and free scholarships. Keep applying for every loan and scholarship that you can find. I can pretty much guarantee you that you will be surprised at the amount of money you can come up with.
About the Author:
Before you do anything regarding your bad credit student loan make sure you check out Tim Beachum's website Bad Credit Student Loans website.
posted by Credit Counseling at
8:25 PM
0 Comments
If you're on a roll with your 30 minutes, by all means take advantage of the situation, and carry on a while longer. There's nothing magic about the 30 minute mark. You can make it 20 minutes or 45 minutes. Just make the commitment and focus on the task you have chosen.
Then, in 2006, a slowdown in real estate led to a deterioration of home values, an increase in inventories, and ultimately to today's tightening of credit guidelines, leaving many investors unable to sell or refinance out of their existing positions. Many Americans who had tapped into their equity were suddenly tapped-out and overextended as home values fell. Foreclosures followed in record numbers and a re-valuation of mortgage bonds and other financial instruments created the credit/liquidity domino effect we're now experiencing.
ARMs Borrowers: If your ARM is scheduled to reset in the next 2-18 months, you need to schedule an appointment with a mortgage professional right away. Whether your ARM is subprime, Alt-A, or even if you have a pre-payment penalty, don't let a default or foreclosure situation sneak up on you. Did you know that your monthly payments can increase anywhere from 30% to 100% once your loan resets? At the very least, give yourself the peace of mind of knowing what your adjusted payment will be.
Thou shalt dedicate thyself to becoming the very best Mortgage Professional you can be. Thou shall be a virtual sponge and soak up everything related to your knowledge and improvement of your Mortgage Business. The more you learn, the more powerful you become, and the more powerful you become, the more effective you will be at originating mortgages.
Finally, there's an important concept to embrace: all markets, while cyclical in nature, are self-correcting, be it credit, real estate, stocks, or bonds. For the last 6 or 7 years, real estate was booming and riding high. The correction we're experiencing now " while it seems harsh and could get much worse " is, in a sense, "natural" and directly related to the extremely loose guidelines and perhaps overzealous lending and leveraging during the boom cycle. Thou shalt follow the 30 day contact rule. Your customers, prospects and advocates (those who refer business to you) should hear from you every 30 days without fail. You should call them, email them, and send them postcards, note cards, a newsletter, or mortgage news and happenings.
Thou shalt create and maintain a detailed Mortgage customer, prospect list, and contact list. Thou shall allocate time each week to maintaining and updating thy lists. For it is these lists that hold the customers that will be in your next mortgage pipeline and your pipeline for years to come.
Thou shalt steal good marketing ideas only from successful competitors. Add your personality and experience to the mix and make it your idea. Just be sure you do not violate any copyright laws.
How did this happen?The recent real estate boom was fueled by a period of record home appreciation and historically low interest rates. Banks, in order to compete, loosened guidelines and began offering more funding to more borrowers through riskier, non-conforming or "exotic" mortgages.
Yes, I'm very much a believer in continuing education and self improvement. There's no doubt you need to allocate time every day to do these things too. But, this 30 minute block of time we are scheduling is your "marketing time" and has a direct bearing on your loan originations, your pipeline and your bank account. Start this little program today, your mortgage marketing success depends on it.
Buyers: Get pre-approved by your mortgage professional. While there are a lot of great deals out there, getting credit is becoming tougher and tougher, and it's taking longer and longer to complete a transaction. Remember, what you qualify for today could change tomorrow in a volatile market. For those looking to refinance, keep this in mind. There is no time to delay! Communicate with your lender. Don't do anything that could negatively affect your credit, and make sure you get all your documentation in on time.
Then, in 2006, a slowdown in real estate led to a deterioration of home values, an increase in inventories, and ultimately to today's tightening of credit guidelines, leaving many investors unable to sell or refinance out of their existing positions. Many Americans who had tapped into their equity were suddenly tapped-out and overextended as home values fell. Foreclosures followed in record numbers and a re-valuation of mortgage bonds and other financial instruments created the credit/liquidity domino effect we're now experiencing.
ARMs Borrowers: If your ARM is scheduled to reset in the next 2-18 months, you need to schedule an appointment with a mortgage professional right away. Whether your ARM is subprime, Alt-A, or even if you have a pre-payment penalty, don't let a default or foreclosure situation sneak up on you. Did you know that your monthly payments can increase anywhere from 30% to 100% once your loan resets? At the very least, give yourself the peace of mind of knowing what your adjusted payment will be.
Thou shalt dedicate thyself to becoming the very best Mortgage Professional you can be. Thou shall be a virtual sponge and soak up everything related to your knowledge and improvement of your Mortgage Business. The more you learn, the more powerful you become, and the more powerful you become, the more effective you will be at originating mortgages.
Finally, there's an important concept to embrace: all markets, while cyclical in nature, are self-correcting, be it credit, real estate, stocks, or bonds. For the last 6 or 7 years, real estate was booming and riding high. The correction we're experiencing now " while it seems harsh and could get much worse " is, in a sense, "natural" and directly related to the extremely loose guidelines and perhaps overzealous lending and leveraging during the boom cycle. Thou shalt follow the 30 day contact rule. Your customers, prospects and advocates (those who refer business to you) should hear from you every 30 days without fail. You should call them, email them, and send them postcards, note cards, a newsletter, or mortgage news and happenings.
Thou shalt create and maintain a detailed Mortgage customer, prospect list, and contact list. Thou shall allocate time each week to maintaining and updating thy lists. For it is these lists that hold the customers that will be in your next mortgage pipeline and your pipeline for years to come.
Thou shalt steal good marketing ideas only from successful competitors. Add your personality and experience to the mix and make it your idea. Just be sure you do not violate any copyright laws.
How did this happen?The recent real estate boom was fueled by a period of record home appreciation and historically low interest rates. Banks, in order to compete, loosened guidelines and began offering more funding to more borrowers through riskier, non-conforming or "exotic" mortgages.
Yes, I'm very much a believer in continuing education and self improvement. There's no doubt you need to allocate time every day to do these things too. But, this 30 minute block of time we are scheduling is your "marketing time" and has a direct bearing on your loan originations, your pipeline and your bank account. Start this little program today, your mortgage marketing success depends on it.
Buyers: Get pre-approved by your mortgage professional. While there are a lot of great deals out there, getting credit is becoming tougher and tougher, and it's taking longer and longer to complete a transaction. Remember, what you qualify for today could change tomorrow in a volatile market. For those looking to refinance, keep this in mind. There is no time to delay! Communicate with your lender. Don't do anything that could negatively affect your credit, and make sure you get all your documentation in on time.
About the Author:
If you are looking for a mortgage mortgages please visit us! Don't spend hours contacting other sites! increase your pagerank please visit us!
posted by Credit Counseling at
3:26 PM
0 Comments
