Right now, when you’re smothered by debt, you may not be able to think about improving your credit history — you’ve got too many other immediate concerns. But tuck this topic into the back of your mind because when you’ve had money troubles, rebuilding your credit history should be one of your first goals. Having a positive credit history is essential to getting new credit with attractive terms.
The credit rebuilding process is quite simple: You get small amounts of new credit and repay the debt on time. For example, you get a MasterCard or Visa card, use it to purchase some goods or services you need, and pay off your card balance according to your agreement with the card issuer. You should also borrow a small amount of money from a bank and pay off the loan according to the terms of your agreement with the lender. [click to continue…]
An employee stock ownership plan (ESOP) is a tax-qualified defined contribution plan that allows employees to become owners of their employer’s stock. In fact, stock ownership is the whole purpose of ESOPs — they’re put into place to encourage employees to participate in corporate ownership. An ESOP is the only employee benefit plan that’s required by law to invest primarily in the stock of the sponsoring employer.
ESOPs may be used by corporations to raise capital for the corporation or, in the case of a privately held company, to purchase stock from a shareholder. Tax advantages of the ESOP make the borrowing of funds less expensive through the ESOP than if the corporation borrowed the funds directly from a bank. [click to continue…]
Credit cards can be a blessing or a curse — and usually, they are the latter. They are certainly convenient but, except in rare occurrences, credit cards should only be used due to the absence of cash. In other words, if you want to buy something but don’t have the money with you (or if it is too much money to carry), then you have a good reason to use a credit card. And it might be a good reason only if you know full well that you will pay off the balance when you get the bill because you have the money available.
Credit cards, by their very nature, enable us to simply spend money we do not have. This is not exactly news to most Americans. Most of us have credit limits that well exceed weekly, monthly, or even yearly income. This gives us access to a ridiculous amount of cash, but it also helps us to create a ridiculous amount of debt—and with the interest piling up every month, that debt can be very hard to eliminate. The interest penalties are the first reason I suggest you use cash whenever possible. [click to continue…]
In short, Zero Limits is about returning to the zero state, where nothing exists but anything is possible. In the zero state there are no thoughts,words, deeds, memories, programs, beliefs, or anything else. Just nothing.
Everyone has a lens through which they view the world. Religions, philosophies, therapies, authors, speakers, gurus, and candlestick makers all perceive the world through a particular mind-set. What you’ll learn is how to use a new lens to dissolve all other lenses. And once you succeed, you’ll be at the place I call zero limits.
You Don’t Have a Clue What is Going On
It is impossible to be aware of everything happening in and around you, consciously or unconsciously. Your body and mind are regulating themselves right now, without you being aware of it. You are indeed co-creating your own reality right now, but it is happening unconsciously, without your conscious knowledge or control. This is why you can think positive thoughts all you like and still be broke. Your conscious mind isn’t the creator. [click to continue…]
You can get your tips from many places, but when you get a tip — double-check who it’s coming from. Visit eBay’s Community boards and chats, and listen to what the others have to say. Before taking anything to heart, and changing the way you do things, check the tip-giver’s experience.
I often say I love buying from eBay sellers who are also buyers because they respect and understand what it’s like to be a buyer at eBay! Here are a few short tips that I know really work:
Shop eBay.ca
That’s right. If you’re in the United States, why not bid on auctions at the eBay Canada Web site? In fact, if you’re an international bidder, and you’re willing to pay shipping from the United States, then you’ll have no problem handling Canadian shipping charges.
If you’re an American resident, all you have to do is think about the conversion between the U.S. dollar and the Canadian, and oh, oh yes — there are bargains to be had. Be sure the seller has reasonable shipping to the United States before you bid. [click to continue…]
When you begin a savings plan for retirement, you need to make decisions about how to invest the money you save, based on your retirement goals, the length of time you have to achieve them, and the amount of money you can set aside.
Dollar Cost Averaging
Dollar cost averaging is a reliable way to make regular investments. You invest a fixed amount — whatever your budget allows — on a monthly basis. Over the long term, with dollar cost averaging, you can buy more shares at a lower price because the market is rising overall. [click to continue…]
You can earn money by taking pictures and uploading them on online stock photo agencies. This is a photographer’s dream come true. Or even if you’re not a photographer, as long as you have a camera, you can make money with this technique.
If you have a collection of pictures uploaded on your hard drive, this could mean big money. And if you don’t have them yet, start taking pictures! You could earn $1 to $20 when someone buys a picture you uploaded. The process is simple. You upload the pictures to the stock photo agencies. When someone buys a picture you uploaded, you get a share of the earnings. [click to continue…]
To help you pinpoint your vulnerabilities, I’m going to list some common investing mistakes and the specific sins that catalyze these mistakes. More than one sin can cause some mistakes, so you won’t always find a one-on-one relationship between mistake and sin. Still, this exercise will help you hone in on your vulnerabilities, narrowing the list down from seven to one, two, or three.
Invest After a Rally Has Woken Up
Some people revisit their investments only when the market rallies 10 percent. They end up catching the market at a near-term high and only put their money in after the price has gone up. It is akin to buying a suit only after the sale ends.
Envy, sloth, and greed drive this mistake. When a rally occurs, you see others benefiting, envy their success, and want to get in on it. You’re guilty of sloth because you’ve ignored your investments only until the rally has roused you of your torpor. The slothful investor is one who doesn’t pay attention to investing until Newsweek’s cover declares a bull market.
Greed also prompts this mistake because you see the Newsweek cover and are convinced that you can find a way to make a fortune. [click to continue…]
I’ve noticed that many people are struggling to make ends meet and just looking for a little extra cash to get along. There are a few simple things to do that will bring you anywhere from several hundred to over a thousand dollars per month. You can use this not only to have more of a savings and more of a stable financial setting, but you can also use it to get a good start on any business you might be starting.
Get Rid of Anything
Get rid of any services that you don’t really need. If you have 1,000,000,000 cable channels, maybe downgrade that to the minimum and get rid of all the movie channels that you never watch anyway. This can easily save you $50 or more (or even more if you get rid of cable completely).
Bring Lunch to Work
Bring a lunch to work, or eat out less. This doesn’t mean you need to be cheap with your wife or sweetie pie, but if you find yourself eating out almost every day, try to minimize that. This can save some people anywhere from $200 to $400 or more a month. Just try to eat normal meals in and save the going out for the special times. [click to continue…]
Your credit score is based on a collection of factors in your credit reports. The more you know about how your credit repair works, the more steps you can take to keep your score high.
Old is Good
Credit cards have much greater longevity on your credit report than an installment loan. So, avoid closing your oldest credit-card account, even if you never use it.
Debt is Bad
Paying down card balances is one of the most effective ways to improve your credit score. [click to continue…]