Category: Credit Relationships

Your Bank Relationsip – A Reason, A Season or A Lifetime? 0

Your Bank Relationsip – A Reason, A Season or A Lifetime?

We seem to have this notion that we entered into a “till death do us part” commitment when we opened that new credit account with the bank. The reality is, we entered into a somewhat superficial relationship. I’m not knocking the banks. They provide a specific service to a specific target market. And they do it well. That’s why they are reporting increased profits on a regular basis. What I am saying, is you need to accept that this is a relationship that will serve you well if you don’t hit any major roadblocks along the way.

I’d like to Buy Some Income Please 2

I’d like to Buy Some Income Please

Is anyone really happy with the amount of income they’re making? I think we all feel that we deserve to have more, we deserve to spend more, we deserve to have less stress worrying...

Beware the word CONSOLIDATION! 2

Beware the word CONSOLIDATION!

What comes to mind when you hear the word “Consolidation”? Do you envision all of your debts being ‘paid off’ leaving you with the manageable obligation of one monthly payment? If so, you are thinking about a “Consolidation Loan”. A financial institution loans you money by paying off your debt and you pay them back. With interest, of course. Nowadays, the word “consolidation” is being used in a much more liberal term

Savings does not equal affordable 0

Savings does not equal affordable

I’m in my car. On my way to work. Listening to the radio. And one commercial catches my attention.

A lady comes home with a shopping bag. Her husbands asks what’s in it and then exclaims, “Don’t you have enough dresses?” (Like that’s actually possible). She replies, “But honey, they were 70 percent off”. He pauses and then replies, “That’s a lot.” In reality, this is a general perception. If it’s on sale and I’m getting such a great bargain, I should buy this.

Are you in survival mode or beyond? 0

Are you in survival mode or beyond?

If you step back and look at your finances, you will find that you are in one of three stages of financial being – The first stage is “survival mode”. The next stage is the “breathing room” stage. The third stage, which is where we all strive to be, is the “comfort zone”.

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The secret to getting out of debt

Trimming your budget is a lot like trimming your waistline. Consumers spend millions of dollars every year looking for that magic solution to losing weight. And businesses increase their bottom line while relatively few consumers decrease their bottoms/middles etc. The same phenomenon happens in money management. We tend to look for quick fixes – consolidation loans, second mortgages, payday loans. Neither works for the masses. Why? They do nothing to address the underlying problem…

Feeling Good About Money 0

Feeling Good About Money

{“You have got to feel good about money to attract more to you. Understandably, when people do not have enough money they do not feel good about money, because they don’t have enough. But those negative feelings about money are stopping more money coming to you! You have to stop the cycle, and you stop it by starting to feel good about money, and being grateful for what you have. Start to say and feel, “I have more than enough.” “There is an abundance of money and it’s on it’s way to me.” “I am a money magnet.” “I love money and money loves me.” “I am receiving more money every day.” “Thank you. Thank you. Thank you.”}

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No payment – No interest! No impulse!?!

Isn’t it wonderful? There is absolutely no reason to wait for something you can’t afford now. And the deal is much better than buying it on regular credit that has to be paid starting next month. Ah! what a wonderful consumer-driven world we live in.

It’s also dangerous. In fact, it’s a trap – a credit trap. The objective is to have you commit future income towards the purchase of something you just can’t (don’t want to) wait for. We are such an impatient society aren’t we? Wait! It gets better – you are further tempted (expected) to spend more than you normally would on the item(s) AND the gamble is that you won’t pay it off completely by the time it comes due.

Keeping up with the Joneses has never been easier! 1

Keeping up with the Joneses has never been easier!

I’ve been struggling holding off buying my kids a DS. My daughter is 7 and my son is 5. All their friends have one. I have a momentary flask back, “But Mum, I plead, all my friends have jeans”. (I was in Grade 6 and still wearing polyester pants). That was 1978. Oh how far we’ve come. Hmmm. Really. Today’s pleas would be “But Mum, all my friends have a DS, computer, ipod, cell phone, (fill in the blank).”

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Do I have to pay to file Bankruptcy?

I know…it seems wrong doesn’t it? You are in a state of having to consider filing for bankruptcy and you find out that you have to pay. Often I get asked, “How can someone pay you if they are bankrupt?”. More often than not, the amount you are required to pay into your bankruptcy, is a manageable payment considering what you are required to pay to maintain your current debt (let alone pay it off). This simple Bankruptcy Payment Calculator will help you estimate what that payment might be.