Oct 17

Law of Attraction How to Get Out of Debt

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Law of Attraction How to Get Out of Debt

Everything you are presently experiencing comes out of the non physical. Whatever you have believed about your life and money has brought you to where you now are. The thoughts and the images that you hold in your mind have simply mirrored themselves by allowing the law of attraction to manifest those conditions into your reality. You can solve this by rewiring your mind to understand that the non physical aspect of yourself is the substance that creates who you are and it is the first step to change anything in your life.

—The First Step—
Recognize that all your thoughts have placed money above you. You believed that money is hard to get and impossible to keep. Because you believed this, the law of attraction has allowed those beliefs to manifest into your present condition. Anything which you believe to be difficult or above you will eventually dominate you soon enough. Unfortunately, money controls the lives of people, people do not control money.

—The Second Step—
Learn to develop a relationship with that non physical aspect of yourself and allow it to supply the answers that you need to move above your money burden. The solution to your problem is always the fastest and easiest method. Just like water or electricity law of attraction flows though the path of least resistance.

—The Third Step—
This is by far the hardest step for most people. Trust the guidance that comes to you and take immediate action because timing is essential. You may not immediately know how something will unfold because you do not have the vision to see into the future. Its easy to worry or second guess yourself, most people do. However the ultimate self development is to trust your inner voice as it will guide you most surely to the solution that you seek. It sees what the eyes cannot see and reaches far into the future where the mind cannot reach. It knows the outcome that you desire and it will supply the perfect solution just if you will trust and take action on blind faith.

—The Forth Step—
Immerse yourself in the thoughts and environment that makes you feel wealthy. The more you interact with those things which make you feel financially free the more you employ the law of attraction and the more likely you are attract solutions to your money problem.

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May 29

Getting Out Of Debt,

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Getting Out of Debt, The Smart Credit-Card Plan, the perfect paydown strategy

Behavioral economist Meir Statman, recently said getting out of debt is the financial equivalent of trying to quit smoking.” Just like any bad habit, good intentions alone will not be enough. To ensure success, we need to break our underlying patterns of behavior. How is it we live in the richest most powerful country in the world, but the average American is more than $11,000 in debt. Our European friends who live by a mainly debit card system have an average savings of $13,000. On a recent visit to Germany, I was shocked to find that less than 35% of all the shops and restaurants accepted credit cards. What would we need to do to reverse this trend and get into a (plus) situation.

Plastic Surgery
If we are serious about paying off our balances. We don’t have to literally cut up our credit cards, just stop using them routinely. We should go green for our everyday spending. Try carrying around a set amount of cash to use each week. We make better purchasing decisions when we actually have to hand over the green stuff plus there’s a preset spending limit. When we run out of money, we stop spending it’s that simple. When the only way to purchase is plastic, buying online for instance, then use your debit card. Your debit card can also be used as an emergency substitute for cash should you run out.

Leave Those Cards At Home
The best way to ensure that you enforce the cooling off period on new credit purchases is by taking the cards out of your wallet. You should store them in a place that’s not easily accessible and safe. Do not let others know where you have hidden them.

Close The Accounts No Longer Needed
Having unused credit available from lenders with whom you’ve had a long relationship will help boost your credit score. Having too many will harm your credit score. As a rule, 3 credit cards is what works best and try to never spend more than 50% of the available credit on any of the cards. This will keep your score at it’s highest. You should also consider closing all your store cards, if you need to make a purchase then use your credit card and pay it off at the end of the month.

Lowering Your Interest Rates
Start by reducing what you pay in interest. We can start by calling our current credit card companies and explaining that we intend to transfer our balance to another issuer unless our interest rate is lowered. Almost all credit card companies run promotional programs with low or 0% interest. They will be willing to put you on one of those rather than risk losing your business. All you need to do is ASK.

Tackling Those Credit Card Balances
Finally we need to develop a strategy for paying off our existing credit card balances.

Gather all your credit card statements together and make a simple table listing the entire amount you owe, and the minimum payment and interest rate for each card. This will help us determine the order in which we should pay off our cards. We need to focus on the highest interest rate cards first and pay off as much as you can each month while making only the minimum payments on our other cards. When the first card is paid off, use the same strategy on the next-highest interest rate card and so on until you’re debt-free.

Late Payments
Are the number one cardinal sin of debt management. You get hit with hefty late fees and very high penalty rates that can go to 30%, plus of course your credit score will take a big hit.

We all have a responsibility to improve our financial literacy and develop the required skills and practices for effective financial management. There is a real need to get away from the Someday things will get better in my life or the Someday I will be able to earn enough money to stop worrying about the bills. There is a lot more to life than that, but it has to be said and understood that the only person that can change your life is YOU. There is NO substitute for Action! With Action, you will overcome your fears and hesitations and accomplish everything you set out to do and more.

Have an opinion or a question you would like me to answer, then write me! http://www.CarlHampton.com

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Apr 15

9 Steps To Get Out Of Debt – Part 9

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9 Steps To Get Out Of Debt – Part 9

Step 9 – Investing

This is the last article in our series on how to get and stay out of debt. So far you have learned the impact of debt, how to analyze your debt, reduce your interest rates, free up some extra income, pay off your debt, avoid falling back into debt, and insure yourself against unforeseen circumstances. This final article will show you how to invest financially into your future.

So far, businesses have been making money off of you by lending you their money, now is your chance to turn this relationship around and make a profit off of them by lending them money. Welcome to the world of investing. There are many things people invest for, but by far the most popular is retirement.

Well start with the bad news, figuring out how much you are going to need for retirement. First, youll want to estimate how much you are going to need, or want in order to get by when you are retired. Granted, your expenses will most likely be lower because your home and other most other major expenses will hopefully be paid for by this season of life. I cant give you a simple guide to tell you exactly how much you will need in this article, so I will leave it to you to estimate.

Now that you have this number, multiply it by fifteen, this is the amount you need to save. The reason for this is so you can live off the interest only, which will allow you to support yourself for the remainder of your life. This will also allow you leave an inheritance for your children. This will probably seem like an unachievable number, but dont abandon hope yet; it isnt as difficult as it first seems.

The reason this isnt as difficult as it first seems is because of the magic of compounding interest. If you were to start investing $100 each month at the age of 20 at 10% return per year, by the time you are 65 you will have approximately $780,000. However, its very important to start as soon as possible. If you start at the age of 30 investing the same amount each month, youll only have $294,000. Youre not out of hope though, youll just have to invest more. If you start at the age of 30, youll need to invest approximately $260 a month to have the same $780,000 at the age of 65. As you get older the amount youll need to invest goes up significantly, but typically so does your income.

Where to invest your money is something you should really talk over with a financial advisor. Ill provide some very basic tips, though. First off, never put all of your money into a single investment no matter how good you think it is. Nothing is guaranteed, and many people have lost everything by investing in a single company. You should always diversify. I would suggest five different investments, minimum.

Typically the higher paying investments are often the riskier investments, also referred to as aggressive. If you are close to retirement, you should avoid these and go with something much safer. If you have several decades until retirement, you can afford to ride out the ups and downs in the market and will usually come out ahead by investing in more aggressive stocks, early on. As you get closer to your retirement age, you should gradually start moving your money into more stable investments.

I hope you have enjoyed this article series and it has helped you to get your finances in order. If this article series has helped you, please pass it on to your friends and family so it can help them as well. For more advice, consider finding a personal financial advisor.

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Apr 05

Venture Capital – Most Important Lessons From Northern Crown Capital

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Venture Capital – Most Important Lessons From Northern Crown Capital To You

Michael

Use an intermediary. The benefits of using one have been discussed throughout this program. Hopefully you will use Northern Crown Capital, but if not there are many good ones out there.

Remember that in most cases, the deal you end up with is not the deal you thought you would get when you started. You have to be flexible and able to turn on a dime in order to make the deal progress.

Matthew

Deal with people of quality. Associate yourself with experienced people who have gone through several cycles and have a proven track record in a wide variety of industries.

Do not be greedy. In the market the bears can make money, the bulls can make money but pigs go to slaughter. If you are too greedy, you cannot make a deal. Markets will change. Windows open and windows close. To some extent investing is a fashion business. Certain types of deals are in fashion and then they are out. When money is being made available you are better off to take it when it is being offered.

Always be very open and candid in your discussions. Do not hide. Do not play games. Be totally open. And whatever you do, do not bluff. An investor will find out quickly when you are bluffing and you will lose the deal.

Bob

Financing is just one of the tools you need to build a good company. It is like the blood in your body. Financing is not the heart and soul your business is.

Good entrepreneurs build great companies because they are good at motivating their employees, excellent at working with suppliers, have an obvious ability to satisfy customers and they also treat the venture capitalist as a supplier, albeit a supplier of money and not a physical product. If you think of investors with a me against them attitude or with any degree of hostility you should not enter into the deal. You will need their support when times get tough. A good working relationship with investors will help ensure your long term success.

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