On the surface, in many instances, payday loans truly can seem like a godsend. However, if you scratch even a little bit under the surface, you will find that there can be problems with payday loans in some instances and for some people. Through this brief article, you are provided with a more generalized overview of how and when payday loans can become problematic for some people some of the time.
By making yourself aware of some of the problems that face people looking for payday loans, you will be in a far better position to properly use payday loans and to avoid problematic situations in relation to payday loans. You will be able to use payday loans as a helpful tool to aid and assist you in an emergency situation.
Overuse of Payday Loans
You need to keep in mind that payday loans absolutely are wonderful solutions if a person is having an emergency financial situation. There is a great deal of truth in the old saying that into everyone’s life some rain must fall. Emergency financial problems can be faced by even the most fiscally responsible of people.
The problem is that some people use payday loans even when they really are not facing a true emergency situation. These are people who fail to budget and fail to manage their money and end up heading off to obtain payday loans all of the time. They use payday loans in some instances on a weekly basis. They use payday loans before each and every payday and never get themselves financially in a sound position. When we consider the cost of payday loans range from $10-$30 per one hundred dollars borrowed, the effective annual percent interest rate can quickly add up to hundreds of percent when annualized. On the other hand, avoiding the cost and the credit damage even a single NSF check can cause, payday loan cash advance might be a better alternative.
As has been mentioned, payday loans are wonderful tools when it comes to emergency situations. However, payday loans should not become a staple in a person’s life.
Falling Into a Trap Set By a Disreputable Provider of Payday Loans
As with many other financial areas today, there unfortunately are disreputable operators that have become involved in the payday loans business. There are times in which a person can inadvertently become wrapped up with one of these bad apples when they are in need of payday loans. Indeed, this is one of the more significant problems associated with payday loans in this day and age.
You need to understand the importance of making sure that you do your homework before engaging the services of any provider of payday loans. By doing your homework, by taking the time to shop around, you will lessen the chances that you will be trapped by a less that reputable provider of payday loans and related services.
Failure to Utilize Reliable Government Resources
Many people fail to take advantage of the informational services that are offered by the government when it comes to payday loans and related services. In point of fact, the U.S. government has been surprisingly proactive when it comes to oversight of payday loans and related services. You can easily find more information about payday loans and rules and regulations regarding payday loans at these helpful website locations:
Thursday, December 31, 2009
Private Money Investing-How To Get The Best Use Out Of This Form Of Investing
Private money investing involves dealing with real estate companies, entertainment, retail and several other businesses. It basically involves two parties: the borrower and the lender. The lender becomes the investor.
The borrower receives money based on the value of real estate owned by him. Private individuals, trusts and pension funds can try their luck on private money investing. Substantial knowledge and experience of trust deed investing is required and mostly individual investors are good at it.
Everyone wants their money to grow and this is why this form of investing is such a desirable form of investing now. First, their investment in real estate will always pay off. Secondly, it will give regular income derived from the monthly dividend distribution scheme and thirdly, higher results than those available from investing in stocks and bonds. There is something called investor eligibility that you need to meet for this form of investing, and that is determined once you meet the minimum net worth requirements.
Private money investing involves many technicalities i.e. the lending process, funding and underwriting that one must be aware of. Methods of investments: Fractional method, Mortgage fund investment, Equity ownership etc.
Things to consider before venturing out into private money investing:
The amount of investment that is being asked, the value of the property that is pledged, description of the property, negotiation of suitable terms from either party and the use of funds whether to construct the property or to renovate. This eventually is a risky business so it is important to associate your investment with known construction brands.
Before lending money, several things are taken into account and one of it is to calculate the worth of the real estate piece. The liquid value of the collateral minus debt and liabilities is what investors look at while using private money investing.
Again, it cannot be emphasized enough: focus on one area of investing, and stick with that. For instance, either focus your efforts on real estate, the stock market, mutual funds, etc. don’t try to learn everything about all of them. Follow these important tips, and if you have decided to use private money investing, you will make a fortune with your investing efforts.
The borrower receives money based on the value of real estate owned by him. Private individuals, trusts and pension funds can try their luck on private money investing. Substantial knowledge and experience of trust deed investing is required and mostly individual investors are good at it.
Everyone wants their money to grow and this is why this form of investing is such a desirable form of investing now. First, their investment in real estate will always pay off. Secondly, it will give regular income derived from the monthly dividend distribution scheme and thirdly, higher results than those available from investing in stocks and bonds. There is something called investor eligibility that you need to meet for this form of investing, and that is determined once you meet the minimum net worth requirements.
Private money investing involves many technicalities i.e. the lending process, funding and underwriting that one must be aware of. Methods of investments: Fractional method, Mortgage fund investment, Equity ownership etc.
Things to consider before venturing out into private money investing:
The amount of investment that is being asked, the value of the property that is pledged, description of the property, negotiation of suitable terms from either party and the use of funds whether to construct the property or to renovate. This eventually is a risky business so it is important to associate your investment with known construction brands.
Before lending money, several things are taken into account and one of it is to calculate the worth of the real estate piece. The liquid value of the collateral minus debt and liabilities is what investors look at while using private money investing.
Again, it cannot be emphasized enough: focus on one area of investing, and stick with that. For instance, either focus your efforts on real estate, the stock market, mutual funds, etc. don’t try to learn everything about all of them. Follow these important tips, and if you have decided to use private money investing, you will make a fortune with your investing efforts.
Private Long Term Disability Insurance
Long term disability insurance can be vitally important to those people who want to protect themselves against the loss of future earnings. Disability insurance, in general, is used when a person is no longer able to work and to earn a living. The benefits received from disability insurance can help pay mortgage bills, living expenses, medical expenses, etc. In many ways, it can be the difference between maintaining a lifestyle and facing a lifetime of uncertainty.
There are two types of long term disability insurance. There are those policies that are considered "group" policies. These are usually bought through the workplace or through participation in certain organizations. The other type is "private". Private long term disability insurance is purchased by the individual and is usually more expensive than policies purchased through group policies.
There are also those group policies that allow participants to add more coverage to an individual policy as long as the person is willing to make the added payment himself. For those who have group coverage this can be a good way to get added protection at discounted prices.
In the area of private long term disability insurance the first thing to understand is that this type of insurance can be expensive. It is almost certainly going to be more expensive than life insurance. However, this type of protection is actually more valuable than life insurance in many ways. Its main value is that it allows you to maintain a close semblance of your lifestyle should you be forced out of work due to illness or injury.
There are some advantages to having private long term disability insurance as well.
The benefits that you receive if you become disabled will be tax-free, as long as you paid the insurance premiums with after-tax money. Another benefit to having private coverage is that the coverage is not bound to your job. In other words, if you change jobs your coverage does not end as would be the case with most group coverage policies.
If your occupation allows for exceptionally high earnings you may need to purchase a special type of private long term disability insurance that will lock in that level of earning should you become disabled. Most group policies use what is known as the "any-occupation" scheme which allows for the less expensive premiums, but also provides a lower amount of benefits. High earners need to take this into consideration when thinking of long term disability insurance.
There are some important things to look for in private disability insurance: You want a policy that is "non-cancellable". This guarantees that premiums will not be changed as long as you pay them on time and in full. You also want to look for a policy that is to age 65.
You want to avoid policies that are termed as "accident only". These polices will not pay if you become disabled through illness rather than injury, and some of the accident conditions can be hard to meet.
There are a number of riders that can be bought with most private long term disability insurance and you should go through those carefully as some of them can be very important. Most riders will cost a bit more to implement into the policy but they can be worthwhile should you ever need to use them.
There are two types of long term disability insurance. There are those policies that are considered "group" policies. These are usually bought through the workplace or through participation in certain organizations. The other type is "private". Private long term disability insurance is purchased by the individual and is usually more expensive than policies purchased through group policies.
There are also those group policies that allow participants to add more coverage to an individual policy as long as the person is willing to make the added payment himself. For those who have group coverage this can be a good way to get added protection at discounted prices.
In the area of private long term disability insurance the first thing to understand is that this type of insurance can be expensive. It is almost certainly going to be more expensive than life insurance. However, this type of protection is actually more valuable than life insurance in many ways. Its main value is that it allows you to maintain a close semblance of your lifestyle should you be forced out of work due to illness or injury.
There are some advantages to having private long term disability insurance as well.
The benefits that you receive if you become disabled will be tax-free, as long as you paid the insurance premiums with after-tax money. Another benefit to having private coverage is that the coverage is not bound to your job. In other words, if you change jobs your coverage does not end as would be the case with most group coverage policies.
If your occupation allows for exceptionally high earnings you may need to purchase a special type of private long term disability insurance that will lock in that level of earning should you become disabled. Most group policies use what is known as the "any-occupation" scheme which allows for the less expensive premiums, but also provides a lower amount of benefits. High earners need to take this into consideration when thinking of long term disability insurance.
There are some important things to look for in private disability insurance: You want a policy that is "non-cancellable". This guarantees that premiums will not be changed as long as you pay them on time and in full. You also want to look for a policy that is to age 65.
You want to avoid policies that are termed as "accident only". These polices will not pay if you become disabled through illness rather than injury, and some of the accident conditions can be hard to meet.
There are a number of riders that can be bought with most private long term disability insurance and you should go through those carefully as some of them can be very important. Most riders will cost a bit more to implement into the policy but they can be worthwhile should you ever need to use them.
Private Investor Funding-Get The Money You Need To Invest Now
To support new business especially in real estate, construction, entertainment you need a back up of private investor funding. You also need to have fair to excellent credit score to obtain private investor funding. There are many known names in this business.
An individual who has done well financially and is ready to provide capital for a business is known as an Angel investor. Although Angels are thought of as individuals, the actual entity that provides the funding may be a trust, business, investment fund, etc.
Private investor funding basically lends you money against your private trust deeds, excellent business idea, and liquid rate of the land or business. As long as you have a plan and a proven track record, this is the main thing that these funding institutions look for.
This kind of funding comes with a high risk and therefore they demand a high return on investment. Individuals providing private investor funding have an exit strategy planned so that the original investment bring them more than five times the return in 3 to 5 years. The exit strategy could include IPOs or acquisition.
A private investor funding is done by reviewing the business plan. The funding institute or the individual then have an investment proposal that is both sensible and sufficiently attractive to investors. This funding can be raised by a group of investors as well.
Not just in the US but this type of funding can support new businesses in developing countries too. Venture capital and private investor funding work hand in hand for somebody who is setting up a new business. Companies use these funds to increase its R&D, sales and marketing efforts.
Private investors are now seeking to organize themselves, making a bigger entity than just working individually to receive small gains. Once they pool in their investments and form a network of private investors they can get bigger returns and this idea is very alluring.
The bottom line: even if you don’t have the money right now to invest, you can certainly find the money, whether you have to pool your money with others or obtain private investor funding from an institution. Don’t let a lack of funds hold you back; do your research, formulate a plan, and start investing and getting rich from the market.
An individual who has done well financially and is ready to provide capital for a business is known as an Angel investor. Although Angels are thought of as individuals, the actual entity that provides the funding may be a trust, business, investment fund, etc.
Private investor funding basically lends you money against your private trust deeds, excellent business idea, and liquid rate of the land or business. As long as you have a plan and a proven track record, this is the main thing that these funding institutions look for.
This kind of funding comes with a high risk and therefore they demand a high return on investment. Individuals providing private investor funding have an exit strategy planned so that the original investment bring them more than five times the return in 3 to 5 years. The exit strategy could include IPOs or acquisition.
A private investor funding is done by reviewing the business plan. The funding institute or the individual then have an investment proposal that is both sensible and sufficiently attractive to investors. This funding can be raised by a group of investors as well.
Not just in the US but this type of funding can support new businesses in developing countries too. Venture capital and private investor funding work hand in hand for somebody who is setting up a new business. Companies use these funds to increase its R&D, sales and marketing efforts.
Private investors are now seeking to organize themselves, making a bigger entity than just working individually to receive small gains. Once they pool in their investments and form a network of private investors they can get bigger returns and this idea is very alluring.
The bottom line: even if you don’t have the money right now to invest, you can certainly find the money, whether you have to pool your money with others or obtain private investor funding from an institution. Don’t let a lack of funds hold you back; do your research, formulate a plan, and start investing and getting rich from the market.
Privacy Protection In Today’s Mortgage Climate
Most savvy consumers these days are taking steps to ensure their privacy and avoid unsolicited calls or a mailbox full of junk. There are laws in place that give us a bit of control when it comes to how our information is being used and by whom. The problem is these laws can only help if we know how to protect ourselves. Most understand that unless they "opt out" after a transaction, many companies will sell their information to other businesses.
Trigger Leads
One of the most alarming of these scenarios is what the three main credit bureaus are doing. When you apply for a home loan with a carefully chosen mortgage company, your credit will need to be checked to determine precisely what interest rate you will qualify for. Once your credit is pulled from one or more of the three credit bureaus; Experian, Equifax and TransUnion, the bureaus know that you are in the market for a mortgage.
Without your permission, these bureaus are using the initial inquiry as a trigger, and are turning around and selling your detailed information to companies who are in direct competition with the mortgage company you chose to work with. These competitors pay for this privileged information and are willing to do whatever it takes to recoup that cost. Too often this includes underhanded and misleading tactics.
It is not uncommon for a consumer to be contacted by a new mortgage company claiming to have been referred to them by the consumer's original broker. They may also employ "bait and switch" tactics to lure a customer in with an enticing offer which they may not really qualify for, and then switch them to another, often more costly product without notification.
The trigger lead trend has lessened somewhat in recent months as the mortgage sector has cooled. But it would be wrong to think that it's no longer a threat to consumer privacy. As loan requirements have become stricter, the call for viable mortgage leads has reached a crescendo. And that means homeowners with good credit scores are very likely to find their information being sold in the form of a trigger lead.
A few states, like Minnesota, have introduced strict legislation prohibiting credit bureaus from selling trigger leads. But most states are acting very slowly on the issue for a variety of reasons, and Federal action seems unlikely. The Federal Trade Commission claimed in March 2007 it lacks the legal authority to tackle unwanted trigger lead solicitations. So it is vital consumers empower themselves to combat this trend.
Protecting Yourself
There are things you can do to prevent yourself becoming just another trigger lead. Under Federal law, the consumer credit reporting industry is required to provide a way for consumers to "opt out" or remove their name from these lists. You can call (888) 567-8688 or go online to www.optoutprescreen.com and opt out for 5-years or for life. If you choose the lifetime option, you will be required to complete and sign a form. They don't make it easy to opt out for life for obvious reasons, but it may be worth it to you.
In addition to protecting yourself from these mortgage shenanigans, opting out with the credit agencies will also protect you from pre-approved credit offers arriving by mail. These direct mail credit offers are a major annoyance for many homeowners and one of the main sources of identity theft in the US today! And don't forget the National Do Not Call List, which can help protect you from unsolicited telephone inquiries.
Shopping Around
Many consumers like the idea of "shopping around" for the best loan. And it's a good idea to make sure you're getting the best deal available. But such a strategy should be done on your own terms, and not at the whim of companies who disclose private information for their own profit.
If you're looking to compare multiple loan options that are tailored to your unique needs and want to be sure you're getting the best rate, companies like America's Lending Partners offer free consultation with in-house mortgage experts who, with your approval, will seek out and negotiate with lenders on your behalf. Unlike checking around with individual lenders who will each check your credit separately, such services can pull your credit report one time, shop around for you, and provide you with the comparisons you want without the need for numerous damaging inquires.
And when you start working with a broker or lender make sure you note down your contact's name and phone number, along with the name of their company. If someone suspicious calls up claiming to work for that company, or to have been referred to you by that company, call your contact back and double check it with them. Also, beware of new mortgage companies contacting you out of the blue and making you offers which seem too good to be true: often they are! As a rule of thumb, only work with the companies you contacted.
Conclusion
Whether you are looking to purchase a new home or refinance your existing home, make sure you protect your privacy. Before you begin the mortgage process, prepare by opting out of unsolicited offers, and arm yourself with the knowledge that you don't have to become another trigger lead. Even in a deflated mortgage market, you have significant control over who you work with to achieve your new mortgage.
Trigger Leads
One of the most alarming of these scenarios is what the three main credit bureaus are doing. When you apply for a home loan with a carefully chosen mortgage company, your credit will need to be checked to determine precisely what interest rate you will qualify for. Once your credit is pulled from one or more of the three credit bureaus; Experian, Equifax and TransUnion, the bureaus know that you are in the market for a mortgage.
Without your permission, these bureaus are using the initial inquiry as a trigger, and are turning around and selling your detailed information to companies who are in direct competition with the mortgage company you chose to work with. These competitors pay for this privileged information and are willing to do whatever it takes to recoup that cost. Too often this includes underhanded and misleading tactics.
It is not uncommon for a consumer to be contacted by a new mortgage company claiming to have been referred to them by the consumer's original broker. They may also employ "bait and switch" tactics to lure a customer in with an enticing offer which they may not really qualify for, and then switch them to another, often more costly product without notification.
The trigger lead trend has lessened somewhat in recent months as the mortgage sector has cooled. But it would be wrong to think that it's no longer a threat to consumer privacy. As loan requirements have become stricter, the call for viable mortgage leads has reached a crescendo. And that means homeowners with good credit scores are very likely to find their information being sold in the form of a trigger lead.
A few states, like Minnesota, have introduced strict legislation prohibiting credit bureaus from selling trigger leads. But most states are acting very slowly on the issue for a variety of reasons, and Federal action seems unlikely. The Federal Trade Commission claimed in March 2007 it lacks the legal authority to tackle unwanted trigger lead solicitations. So it is vital consumers empower themselves to combat this trend.
Protecting Yourself
There are things you can do to prevent yourself becoming just another trigger lead. Under Federal law, the consumer credit reporting industry is required to provide a way for consumers to "opt out" or remove their name from these lists. You can call (888) 567-8688 or go online to www.optoutprescreen.com and opt out for 5-years or for life. If you choose the lifetime option, you will be required to complete and sign a form. They don't make it easy to opt out for life for obvious reasons, but it may be worth it to you.
In addition to protecting yourself from these mortgage shenanigans, opting out with the credit agencies will also protect you from pre-approved credit offers arriving by mail. These direct mail credit offers are a major annoyance for many homeowners and one of the main sources of identity theft in the US today! And don't forget the National Do Not Call List, which can help protect you from unsolicited telephone inquiries.
Shopping Around
Many consumers like the idea of "shopping around" for the best loan. And it's a good idea to make sure you're getting the best deal available. But such a strategy should be done on your own terms, and not at the whim of companies who disclose private information for their own profit.
If you're looking to compare multiple loan options that are tailored to your unique needs and want to be sure you're getting the best rate, companies like America's Lending Partners offer free consultation with in-house mortgage experts who, with your approval, will seek out and negotiate with lenders on your behalf. Unlike checking around with individual lenders who will each check your credit separately, such services can pull your credit report one time, shop around for you, and provide you with the comparisons you want without the need for numerous damaging inquires.
And when you start working with a broker or lender make sure you note down your contact's name and phone number, along with the name of their company. If someone suspicious calls up claiming to work for that company, or to have been referred to you by that company, call your contact back and double check it with them. Also, beware of new mortgage companies contacting you out of the blue and making you offers which seem too good to be true: often they are! As a rule of thumb, only work with the companies you contacted.
Conclusion
Whether you are looking to purchase a new home or refinance your existing home, make sure you protect your privacy. Before you begin the mortgage process, prepare by opting out of unsolicited offers, and arm yourself with the knowledge that you don't have to become another trigger lead. Even in a deflated mortgage market, you have significant control over who you work with to achieve your new mortgage.
Wednesday, December 30, 2009
Principles On How To Find A Good Credit Card
There are different credit cards that will surely put you in deep trouble if you don't know how to properly use them. It should specifically give a thorough financial sense to you. This matter will be easier to conquer if you will learn the important factors helpful when finding the credit card which suits your needs the best.
-Obtain a credit card having the lowest rates on interests as much as possible. Make sure that you have the capability to pay for the credit card expenses at a particular occasion where you are obliged to pay for the charges. Interest rates will not affect you significantly if you are planning to pay all the charges upon acquiring it in that same month. It is true that 0% APR does not exist because credit card companies would not make money out of that. Great deals on the percentage rates of APR could be found through different ways.
-Choose a credit card that allows a balance transfer wherein you are able to transfer the other balances under the initial APR lowest interest rates. Although these offers are only limited, in the end you will find that it will procure a lot of savings.
-Be always prompt as a customer. Pay the bill on the designated time and keep fair low balances so that you could request for a 0% APR even over a limited period of time. Most companies will find it a good deal because they don't want to lose their business and their good clients as well.
-Search for different companies offering 0% APR in the internet. Make comparisons when shopping. Some companies offer a zero percent APR to their clients within a year upon acquiring the credit card.
-Always be aware of the terms and condition regarding 0% APR. Know what periods are exactly covered because it might shock you to find out that you already have overhead charges. Make an assessment regarding the future interest rates after the trial periods. It could be higher than what you expected and soon you will regret that it is much better if you get the credit card having no trial periods or whatever 0% APR offers. Read carefully the fine prints of the agreement.
-Most of the credit cards that are available today are featuring different reward programs. Make enough time for researching so that you will get the best reward program according to how you are going to use it.
It is either in the form of points or cash back. The cash back reward program enables you to get a particular percentage from all the qualified purchase back, which is usually credited to your account.
The point reward program enables you to obtain points with every purchase you make using the credit card. Then a product could be redeemed using those points from a particular store, or sometimes to several designated redemption stores, or others could even have airline tickets. However make sure that the redemption will benefit you according to your needs.
-The credit card should possess a credit limit that is enough to satisfy your needs. The factors that should be considered include financing fees, annual fees, introductory offers, credit requirements, availability of online banking, and others. A lot of websites are great help when doing a research.
You will never go astray if you follow these guiding principles on finding the best credit card. Make a wise decision today.
-Obtain a credit card having the lowest rates on interests as much as possible. Make sure that you have the capability to pay for the credit card expenses at a particular occasion where you are obliged to pay for the charges. Interest rates will not affect you significantly if you are planning to pay all the charges upon acquiring it in that same month. It is true that 0% APR does not exist because credit card companies would not make money out of that. Great deals on the percentage rates of APR could be found through different ways.
-Choose a credit card that allows a balance transfer wherein you are able to transfer the other balances under the initial APR lowest interest rates. Although these offers are only limited, in the end you will find that it will procure a lot of savings.
-Be always prompt as a customer. Pay the bill on the designated time and keep fair low balances so that you could request for a 0% APR even over a limited period of time. Most companies will find it a good deal because they don't want to lose their business and their good clients as well.
-Search for different companies offering 0% APR in the internet. Make comparisons when shopping. Some companies offer a zero percent APR to their clients within a year upon acquiring the credit card.
-Always be aware of the terms and condition regarding 0% APR. Know what periods are exactly covered because it might shock you to find out that you already have overhead charges. Make an assessment regarding the future interest rates after the trial periods. It could be higher than what you expected and soon you will regret that it is much better if you get the credit card having no trial periods or whatever 0% APR offers. Read carefully the fine prints of the agreement.
-Most of the credit cards that are available today are featuring different reward programs. Make enough time for researching so that you will get the best reward program according to how you are going to use it.
It is either in the form of points or cash back. The cash back reward program enables you to get a particular percentage from all the qualified purchase back, which is usually credited to your account.
The point reward program enables you to obtain points with every purchase you make using the credit card. Then a product could be redeemed using those points from a particular store, or sometimes to several designated redemption stores, or others could even have airline tickets. However make sure that the redemption will benefit you according to your needs.
-The credit card should possess a credit limit that is enough to satisfy your needs. The factors that should be considered include financing fees, annual fees, introductory offers, credit requirements, availability of online banking, and others. A lot of websites are great help when doing a research.
You will never go astray if you follow these guiding principles on finding the best credit card. Make a wise decision today.
Price And Time Trading
One way of trading that is often overlooked by many traders, is trading price and time. This method of trading forecasts potential turning points in the markets. Two types of trading methods related to price and time are Fibonacci and the Gann Square of Nine.
Both these methods will allow you to find potential reversal points by both the price of the market and the date.
For Fibonacci, we take the previous high and low that stands out, as well as their respective dates. We then calculate the potential turning points by using Fibonacci ratios like .382, .50 and .618. Let’s suppose we are looking at a market that had a low of 300 and a high of 400. The low was made on January 1st and the high was made on June 30th. We take the difference in the prices and the dates and multiply them by the ratios mentioned.
For the price, we subtract 400 – 300 = 100. We then multiply 100 by the ratios and subtract them from the second number which is 400.
So 100 * .50 = 50. 400 – 50 = 350. The .50 ratio gives us a reversal point of 350. Do the same for the .382 and .618 ratios.
100 * .382 = 38.20. 400 – 38.20 = 361.80.
100 * .618 = 61.80. 400- 61.80 = 338.20.
We now have 3 potential turning points in the market:
Price1: 361.80
Price2: 350.00
Price3: 338.20
For the time, we have applied the same calculations of the difference of the 2 dates and we get 3 dates where we have a potential reversal:
Date1: 9/6/2006
Date2: 9/28/2006
Date3: 10/19/2006
We are watching to see if Price and Time “Meet”. When the potential price hits at one of the potential dates, this means that Price and Time have met.
Gann is not as easy to do by hand. You will need a program or the Gann square of nine in printed format to be able to see what the forecasted price reversals are. Also for Gann , only one price and date are entered. It is based on the squares in the pyramid and their mathematical alignment to each other.
Both these methods will allow you to find potential reversal points by both the price of the market and the date.
For Fibonacci, we take the previous high and low that stands out, as well as their respective dates. We then calculate the potential turning points by using Fibonacci ratios like .382, .50 and .618. Let’s suppose we are looking at a market that had a low of 300 and a high of 400. The low was made on January 1st and the high was made on June 30th. We take the difference in the prices and the dates and multiply them by the ratios mentioned.
For the price, we subtract 400 – 300 = 100. We then multiply 100 by the ratios and subtract them from the second number which is 400.
So 100 * .50 = 50. 400 – 50 = 350. The .50 ratio gives us a reversal point of 350. Do the same for the .382 and .618 ratios.
100 * .382 = 38.20. 400 – 38.20 = 361.80.
100 * .618 = 61.80. 400- 61.80 = 338.20.
We now have 3 potential turning points in the market:
Price1: 361.80
Price2: 350.00
Price3: 338.20
For the time, we have applied the same calculations of the difference of the 2 dates and we get 3 dates where we have a potential reversal:
Date1: 9/6/2006
Date2: 9/28/2006
Date3: 10/19/2006
We are watching to see if Price and Time “Meet”. When the potential price hits at one of the potential dates, this means that Price and Time have met.
Gann is not as easy to do by hand. You will need a program or the Gann square of nine in printed format to be able to see what the forecasted price reversals are. Also for Gann , only one price and date are entered. It is based on the squares in the pyramid and their mathematical alignment to each other.
Pre Paid Credit Cards: Controller Of The Expense, Facilitator Of Trade
The first international pre-paid credit cards came into operation around 1998 when Visa came out with the Visa Travel Money. This was the significant signpost, as it gave a totally new dimension to the way the international travel started being conducted from this point onwards. Pre-paid credit cards are considered to be the first step in the direction of initiation of full fledged credit cards.
Pre-paid credit card is considered as the first step towards baptism for credit cards as the person to whom this is issued is given an opportunity to build the credit history. The prepaid credit cards com in much handy if you are contemplating about buying a house, or the car which you have been fancying for quite a long time to own, or to give it to your wife as the present.
The advantage of pre-paid credit cards lies in the fact that they do not have a due date for payment. For those who are in the habit of forgetting the due dates of payment and most of us are, the pre-paid credit cards are indeed a blessing in disguise.
So get a pre-paid credit card, and forget about setting reminders on the mobile phone, or putting it down in the things to do, or bribe your child to make you remember the date for payment, or to hang a bait in front of your wife to remind you about the due date, pre-paid credit cards make you self-reliant.
Compared with the normal credit cards, the pre-paid credit cards are in an advantageous position. It lies in the fact that, it does not allow you to go over the board while shopping. It happens indeed most of the times, when you go out for shopping and you are black-mailed into buying things which you may not by otherwise, but pre-paid credit cards indeed come to the rescue in these kind of situations.
While spending within the defined limits, pre-paid credit cards do not discriminate as far as earning the reward points on the spending is concerned. You can earn the same reward points, which a normal credit card earns while using the pre-paid credit cards, so it is a better option to go in for pre-paid credit cards, if one is in the habit of being a shopoholic.
In this age where distances are shrinking owing to frequent travel there used to be a perpetual headache of carrying cash in denomination of currencies of the country to which one was traveling. It however is a thing of the past after the advent of the pre-paid credit cards. There is no need to worry now, as now there plenty of pre-paid credit cards available which are designed to ensure that the travel is secure and hassle free.
There also is no need to run after the money changers, once you have put the pre-paid credit card's travel card in your wallet. Once you are having the pre-paid credit card, your shopping also becomes hassle free as there is now no need to pay any transaction charge as well. It takes care of all oscillations that the foreign exchange rate may experience.
Pre-paid credit card is considered as the first step towards baptism for credit cards as the person to whom this is issued is given an opportunity to build the credit history. The prepaid credit cards com in much handy if you are contemplating about buying a house, or the car which you have been fancying for quite a long time to own, or to give it to your wife as the present.
The advantage of pre-paid credit cards lies in the fact that they do not have a due date for payment. For those who are in the habit of forgetting the due dates of payment and most of us are, the pre-paid credit cards are indeed a blessing in disguise.
So get a pre-paid credit card, and forget about setting reminders on the mobile phone, or putting it down in the things to do, or bribe your child to make you remember the date for payment, or to hang a bait in front of your wife to remind you about the due date, pre-paid credit cards make you self-reliant.
Compared with the normal credit cards, the pre-paid credit cards are in an advantageous position. It lies in the fact that, it does not allow you to go over the board while shopping. It happens indeed most of the times, when you go out for shopping and you are black-mailed into buying things which you may not by otherwise, but pre-paid credit cards indeed come to the rescue in these kind of situations.
While spending within the defined limits, pre-paid credit cards do not discriminate as far as earning the reward points on the spending is concerned. You can earn the same reward points, which a normal credit card earns while using the pre-paid credit cards, so it is a better option to go in for pre-paid credit cards, if one is in the habit of being a shopoholic.
In this age where distances are shrinking owing to frequent travel there used to be a perpetual headache of carrying cash in denomination of currencies of the country to which one was traveling. It however is a thing of the past after the advent of the pre-paid credit cards. There is no need to worry now, as now there plenty of pre-paid credit cards available which are designed to ensure that the travel is secure and hassle free.
There also is no need to run after the money changers, once you have put the pre-paid credit card's travel card in your wallet. Once you are having the pre-paid credit card, your shopping also becomes hassle free as there is now no need to pay any transaction charge as well. It takes care of all oscillations that the foreign exchange rate may experience.
Personal Finance Issues After Retirement
Age brings about a number of new expenses. Expenses keep on increasing as the years keep growing. Old age merely brings about a rise in a number of expenses. Visits to the doctor have to be made. Medicines need to be bought. And there are so many more bills. However, even as expenses keep on multiplying, the income with which these bills can be paid remains stagnant. Post-retirement, one has to be dependent on one's pension and on the monies that accrue from the various investments that one has secured for oneself. Given these sources of income, it does become difficult to pay for the expenses of daily life.
However, with a little bit of research and some application, one can use the mechanisms of personal finance to add quality to life post retirement. For starters, let us take the case of bank accounts. Now, there are various kinds of bank accounts that people can apply for. But which bank account would be a good choice if one has just retired? Ideally, one should be looking at a bank account that offers a high rate of interest. High interest savings accounts are a dime a dozen these days. Joint bank accounts are worth looking at. Elderly couples often pool their monies together and start a joint account, thus, earning higher interest amounts on a regular basis. Just check with the bank that is nearest to you. Moreover, senior citizens are eligible for some other offers that cater specifically to their needs. So anyone who falls into this age group need to be on the lookout for deals like this.
Credit cards are often the knight in shining armor for aged people. After retirement, a lot of people find it difficult to carry on with their earlier standards of living. Thus, many end up running up their credit card debt as they pay for various recurring expenses, with medicines being one of the recurring ones. Now, credit card debt cannot be run away from. It had to be settled in the near future. However, senior citizens can approach their credit card providers and try to negotiate a reduction in debt. Many a provider is eager to comply with such requests.
Naturally, leaning on the credit card is not the smartest financial advice that you can get. All the same, you can certainly use the credit card judiciously and let it help you when you are in dire need. For that purpose, you must make sure that you are not splurging on any goods and services that are not really required. Of course, it can be argued that every thing is "required. But that is not the way a smart consumer thinks.
Of course, sometimes cash advances and credit card payments are not sufficient. Turning to loans can be quite costly for people who do not have a fixed salary. Things are simpler for people who own property for a secured loan is usually cheaper. However, nowadays, cheap unsecured loans are not such a faraway dream either.
However, with a little bit of research and some application, one can use the mechanisms of personal finance to add quality to life post retirement. For starters, let us take the case of bank accounts. Now, there are various kinds of bank accounts that people can apply for. But which bank account would be a good choice if one has just retired? Ideally, one should be looking at a bank account that offers a high rate of interest. High interest savings accounts are a dime a dozen these days. Joint bank accounts are worth looking at. Elderly couples often pool their monies together and start a joint account, thus, earning higher interest amounts on a regular basis. Just check with the bank that is nearest to you. Moreover, senior citizens are eligible for some other offers that cater specifically to their needs. So anyone who falls into this age group need to be on the lookout for deals like this.
Credit cards are often the knight in shining armor for aged people. After retirement, a lot of people find it difficult to carry on with their earlier standards of living. Thus, many end up running up their credit card debt as they pay for various recurring expenses, with medicines being one of the recurring ones. Now, credit card debt cannot be run away from. It had to be settled in the near future. However, senior citizens can approach their credit card providers and try to negotiate a reduction in debt. Many a provider is eager to comply with such requests.
Naturally, leaning on the credit card is not the smartest financial advice that you can get. All the same, you can certainly use the credit card judiciously and let it help you when you are in dire need. For that purpose, you must make sure that you are not splurging on any goods and services that are not really required. Of course, it can be argued that every thing is "required. But that is not the way a smart consumer thinks.
Of course, sometimes cash advances and credit card payments are not sufficient. Turning to loans can be quite costly for people who do not have a fixed salary. Things are simpler for people who own property for a secured loan is usually cheaper. However, nowadays, cheap unsecured loans are not such a faraway dream either.
Personal Finance Issues After Retirement
Age brings about a number of new expenses. Expenses keep on increasing as the years keep growing. Old age merely brings about a rise in a number of expenses. Visits to the doctor have to be made. Medicines need to be bought.
And there are so many more bills. However, even as expenses keep on multiplying, the income with which these bills can be paid remains stagnant. Post-retirement, one has to be dependent on one's pension and on the monies that accrue from the various investments that one has secured for oneself. Given these sources of income, it does become difficult to pay for the expenses of daily life.
However, with a little bit of research and some application, one can use the mechanisms of personal finance to add quality to life post retirement. For starters, let us take the case of bank accounts. Now, there are various kinds of bank accounts that people can apply for. But which bank account would be a good choice if one has just retired? Ideally, one should be looking at a bank account that offers a high rate of interest.
High interest savings accounts are a dime a dozen these days. Joint bank accounts are worth looking at. Elderly couples often pool their monies together and start a joint account, thus, earning higher interest amounts on a regular basis. Just check with the bank that is nearest to you. Moreover, senior citizens are eligible for some other offers that cater specifically to their needs. So anyone who falls into this age group need to be on the lookout for deals like this.
Credit cards are often the knight in shining armor for aged people. After retirement, a lot of people find it difficult to carry on with their earlier standards of living. Thus, many end up running up their credit card debt as they pay for various recurring expenses, with medicines being one of the recurring ones. Now, credit card debt cannot be run away from. It had to be settled in the near future. However, senior citizens can approach their credit card providers and try to negotiate a reduction in debt. Many a provider is eager to comply with such requests.
Naturally, leaning on the credit card is not the smartest financial advice that you can get. All the same, you can certainly use the credit card judiciously and let it help you when you are in dire need. For that purpose, you must make sure that you are not splurging on any goods and services that are not really required. Of course, it can be argued that every thing is "required. But that is not the way a smart consumer thinks.
Of course, sometimes cash advances and credit card payments are not sufficient. Turning to loans can be quite costly for people who do not have a fixed salary. Things are simpler for people who own property for a secured loan is usually cheaper. However, nowadays, cheap unsecured loans are not such a faraway dream either.
And there are so many more bills. However, even as expenses keep on multiplying, the income with which these bills can be paid remains stagnant. Post-retirement, one has to be dependent on one's pension and on the monies that accrue from the various investments that one has secured for oneself. Given these sources of income, it does become difficult to pay for the expenses of daily life.
However, with a little bit of research and some application, one can use the mechanisms of personal finance to add quality to life post retirement. For starters, let us take the case of bank accounts. Now, there are various kinds of bank accounts that people can apply for. But which bank account would be a good choice if one has just retired? Ideally, one should be looking at a bank account that offers a high rate of interest.
High interest savings accounts are a dime a dozen these days. Joint bank accounts are worth looking at. Elderly couples often pool their monies together and start a joint account, thus, earning higher interest amounts on a regular basis. Just check with the bank that is nearest to you. Moreover, senior citizens are eligible for some other offers that cater specifically to their needs. So anyone who falls into this age group need to be on the lookout for deals like this.
Credit cards are often the knight in shining armor for aged people. After retirement, a lot of people find it difficult to carry on with their earlier standards of living. Thus, many end up running up their credit card debt as they pay for various recurring expenses, with medicines being one of the recurring ones. Now, credit card debt cannot be run away from. It had to be settled in the near future. However, senior citizens can approach their credit card providers and try to negotiate a reduction in debt. Many a provider is eager to comply with such requests.
Naturally, leaning on the credit card is not the smartest financial advice that you can get. All the same, you can certainly use the credit card judiciously and let it help you when you are in dire need. For that purpose, you must make sure that you are not splurging on any goods and services that are not really required. Of course, it can be argued that every thing is "required. But that is not the way a smart consumer thinks.
Of course, sometimes cash advances and credit card payments are not sufficient. Turning to loans can be quite costly for people who do not have a fixed salary. Things are simpler for people who own property for a secured loan is usually cheaper. However, nowadays, cheap unsecured loans are not such a faraway dream either.
Personal Finance - A Guide To Easy Self Management.
Understanding how to manage your personal finance goals will bring rewards rather than despair. We all want a secure future so here are a few things to help you get started.
Firstly, know your current financial status. This can be a little intimidating for some but it is essential to a better financial future. This entails knowing three important things: your expenses, financial problems and financial desires.
Be aware of how much you spend in order to find out how much you can afford. Write down your monthly expenses if you have time, or use a personal finance program. Make allowances for problems that may arise such as unexpected doctors bills, school uniforms, tax returns.
Knowing your lifestyle aspirations is just as important. Taking note of your desires will help you decide which ones are reasonable and which ones are not. Focus on the reasonable ones as they will provide the motivation to manage your personal finances.
Honesty is another key attitude to managing your personal finance plan. If you decide not to accept the facts surrounding your current financial status, you are not likely to move ahead. Be honest with yourself in how much you can afford and how much you owe, otherwise your financial plan will most likely end in financial trouble.
Discipline is perhaps the most important when managing personal finance. Once you have discovered what you truly can and cannot afford, you must learn to say no when needed. This is easier said than done, but if you are determined on having a financially secure future, discipline is imperative.
Knowledge is most definitely power. You must be wise in your investments if you wish for success in your personal finance. Consult accountants and financial planners, research on trends on the market or speak with your friends and co-workers about their investments. This research is sure to pay off whereas lack of it will surely lead to more debts and deviating from your personal finance plan. Also, diversify your investments to reduce risk and leverage out your financial investment.
Very simply, the most effective method to improve your personal finances is to spend wisely. Do not spend more than you can earn. Make sure all your expenses are covered first. Understanding this will allow you to manage your personal finance a little better.
Firstly, know your current financial status. This can be a little intimidating for some but it is essential to a better financial future. This entails knowing three important things: your expenses, financial problems and financial desires.
Be aware of how much you spend in order to find out how much you can afford. Write down your monthly expenses if you have time, or use a personal finance program. Make allowances for problems that may arise such as unexpected doctors bills, school uniforms, tax returns.
Knowing your lifestyle aspirations is just as important. Taking note of your desires will help you decide which ones are reasonable and which ones are not. Focus on the reasonable ones as they will provide the motivation to manage your personal finances.
Honesty is another key attitude to managing your personal finance plan. If you decide not to accept the facts surrounding your current financial status, you are not likely to move ahead. Be honest with yourself in how much you can afford and how much you owe, otherwise your financial plan will most likely end in financial trouble.
Discipline is perhaps the most important when managing personal finance. Once you have discovered what you truly can and cannot afford, you must learn to say no when needed. This is easier said than done, but if you are determined on having a financially secure future, discipline is imperative.
Knowledge is most definitely power. You must be wise in your investments if you wish for success in your personal finance. Consult accountants and financial planners, research on trends on the market or speak with your friends and co-workers about their investments. This research is sure to pay off whereas lack of it will surely lead to more debts and deviating from your personal finance plan. Also, diversify your investments to reduce risk and leverage out your financial investment.
Very simply, the most effective method to improve your personal finances is to spend wisely. Do not spend more than you can earn. Make sure all your expenses are covered first. Understanding this will allow you to manage your personal finance a little better.
Personal Finance For Self-Sufficiency
These days everybody wants to be completely self-reliant. Nobody wants to have to depend on others. There is a great sense of achievement in being able to deal with one's own needs and requirements without taking the help of others. The personal finance markets have realized this need that the people of the world of today have. As a result we are witnesses to the great proliferation in the numbers of loans to help people help themselves.
Are you looking for a car loan? How eager are you to actually invest in real estate? Are you going to need a lot of cash to fund your child's education? Well, whatever it is, there will be a great loan that will be absolutely perfect to take care of your needs. From large amounts, to low interest rates, to adjustable payments, you name it and you will discover a great loan that suits your specific needs.
And loans are not the only things that help us to be self-sufficient. What about the good old credit cards that we always take with us no matter where we go. There is no longer a need to carry bundles of cash when going out shopping for more expensive things. A credit card swipe works just as well and is certainly much more effortless. If your wallet gets robbed, you really cannot do very much about the money in it. However, you can do your part by informing the credit card company that your card has been robbed.
Life has become extremely convenient in the world of today. I find it very liberating to be able to walk out of my house with only my little credit card for company. And yet, I am able to return home with bags and bags of groceries, some DVDs of my favorite movies, and maybe even something that cost me a little too much.
Of course, the downside is that credit cards usually tend to make us overspend. They say that women are the shopaholics, but put men in the right store and they too end up spending much more than they had originally calculated on. The culprit has to be the credit cards.
In a similar way, when it comes to loans, we are developing the tendency to take on loan after loan. Eventually we have no choice but to keep repaying a multiplicity of loans that charge different interest rates and drain away various amounts of money from our bank accounts.
Yet, despite the many problems, loans and credit cards have made us more self-reliant and far more willing to look at life from an independent standpoint.
Are you looking for a car loan? How eager are you to actually invest in real estate? Are you going to need a lot of cash to fund your child's education? Well, whatever it is, there will be a great loan that will be absolutely perfect to take care of your needs. From large amounts, to low interest rates, to adjustable payments, you name it and you will discover a great loan that suits your specific needs.
And loans are not the only things that help us to be self-sufficient. What about the good old credit cards that we always take with us no matter where we go. There is no longer a need to carry bundles of cash when going out shopping for more expensive things. A credit card swipe works just as well and is certainly much more effortless. If your wallet gets robbed, you really cannot do very much about the money in it. However, you can do your part by informing the credit card company that your card has been robbed.
Life has become extremely convenient in the world of today. I find it very liberating to be able to walk out of my house with only my little credit card for company. And yet, I am able to return home with bags and bags of groceries, some DVDs of my favorite movies, and maybe even something that cost me a little too much.
Of course, the downside is that credit cards usually tend to make us overspend. They say that women are the shopaholics, but put men in the right store and they too end up spending much more than they had originally calculated on. The culprit has to be the credit cards.
In a similar way, when it comes to loans, we are developing the tendency to take on loan after loan. Eventually we have no choice but to keep repaying a multiplicity of loans that charge different interest rates and drain away various amounts of money from our bank accounts.
Yet, despite the many problems, loans and credit cards have made us more self-reliant and far more willing to look at life from an independent standpoint.
Personal Finance
We are living in a society of consumerism. Prices skyrocket, demands multiply; the only thing that remains static is your income. How to survive in a consumer society keeping a control of the expenses?
Personal finance is all about planning your finance. You need to keep a budget in every step of your life. Start from the household budget and categorize the household expenses as follows.
- Fixed expenses – These are monthly bills to be paid such as rent, telephone, cable, electricity, etc.
- Variable expenses – These include the cost of all essentials including your food, medicine, entertainment expenses, etc., and may vary slightly depending on the items purchased.
The extra cash that you have after deducting the expenses for the above determines your true financial status. If your extra cash is zero, or if it is negative, you have to seriously think about reworking your personal finance plans or consult a financial adviser.
What if you have loans and debts to be paid off? Most of the people have mortgage payments, auto loans, credit card payments and other types of loans recurring every month.
The best possible way to balance these is to maintain a decent debt-to-income ratio. Always make sure that your debt-to-income ratio is never higher than 50%. If you are overloaded with too many loans, consolidation of the heavier loans will be a better option than keeping a bad record of the debts.
Refinancing your mortgage is chosen as the best option by many debtors to consolidate their debts. The only thing you need to be careful while refinancing is to get a better deal, in terms of the market value of your property and also the best interest rates. Higher the market value of the property, higher is the loan amount. With lower interest rates and longer mortgage period, your monthly payments will be reduced considerably, relieving you from your debt worries.
Possessing a credit card is another way to keep your finance move without worries. You can handle the day-to-day expenses without looking into your pocket always. But make a habit to pay off the balance at the end of the month. You can opt for credit cards that offer lower interest rates so that you can bear a certain debit in times of crisis.
Insurance is another important rider in personal finance. Possessing a personal insurance, home insurance, and auto insurance are the smart ways of dealing with the hurdles that may jump on your way. It is also a good investment option and a beneficial tool to secure your life and property from the unexpected disasters.
Once you take care of your loans and emergencies, the next step is to think about the investment options. There are many investment plans that ensure huge returns irrespective of the market fluctuations. There are long-term and short-term deposits offered by different banks and credit unions. One of the safest ways of saving money is to invest in money market accounts (MMA). MMAs offer a greater interest rates and also insurance for your deposit.
To overcome the rainy days of your life, you need to keep a good control on your finance, whatever may your present status be.
Personal finance is all about planning your finance. You need to keep a budget in every step of your life. Start from the household budget and categorize the household expenses as follows.
- Fixed expenses – These are monthly bills to be paid such as rent, telephone, cable, electricity, etc.
- Variable expenses – These include the cost of all essentials including your food, medicine, entertainment expenses, etc., and may vary slightly depending on the items purchased.
The extra cash that you have after deducting the expenses for the above determines your true financial status. If your extra cash is zero, or if it is negative, you have to seriously think about reworking your personal finance plans or consult a financial adviser.
What if you have loans and debts to be paid off? Most of the people have mortgage payments, auto loans, credit card payments and other types of loans recurring every month.
The best possible way to balance these is to maintain a decent debt-to-income ratio. Always make sure that your debt-to-income ratio is never higher than 50%. If you are overloaded with too many loans, consolidation of the heavier loans will be a better option than keeping a bad record of the debts.
Refinancing your mortgage is chosen as the best option by many debtors to consolidate their debts. The only thing you need to be careful while refinancing is to get a better deal, in terms of the market value of your property and also the best interest rates. Higher the market value of the property, higher is the loan amount. With lower interest rates and longer mortgage period, your monthly payments will be reduced considerably, relieving you from your debt worries.
Possessing a credit card is another way to keep your finance move without worries. You can handle the day-to-day expenses without looking into your pocket always. But make a habit to pay off the balance at the end of the month. You can opt for credit cards that offer lower interest rates so that you can bear a certain debit in times of crisis.
Insurance is another important rider in personal finance. Possessing a personal insurance, home insurance, and auto insurance are the smart ways of dealing with the hurdles that may jump on your way. It is also a good investment option and a beneficial tool to secure your life and property from the unexpected disasters.
Once you take care of your loans and emergencies, the next step is to think about the investment options. There are many investment plans that ensure huge returns irrespective of the market fluctuations. There are long-term and short-term deposits offered by different banks and credit unions. One of the safest ways of saving money is to invest in money market accounts (MMA). MMAs offer a greater interest rates and also insurance for your deposit.
To overcome the rainy days of your life, you need to keep a good control on your finance, whatever may your present status be.
Personal Debt – A Quick Guide
The growing level of personal debt is fast becoming a serious social problem, or so the experts are saying. The causes of such debt are manifold and can be caused by various difficult life circumstances. For most people, being in debt of some sort is just a way of life. But it is possible to become clear of debt; and a good way to start is by learning how to manage on whatever income you have.
If you do happen to be in debt, the two best types of debt to have are home equity loans and mortgages. The usual options for those who have large amounts of debt are either debt consolidation or to think about going bankrupt. Bankruptcy is very often the result of medical problems, losing a job, or sometimes a marriage breakdown, which results in the accumulation of debt. About 20% of folk in debt are being treated for depression and similar ailments from their doctor, which shows what a stressful experience it can be.
Be on your guard, there are many companies out there who promise a quick fix to all your financial problems. But be very careful, some of them may charge high fees and fail to deliver on their promises. With a lot of personal debt problems, the hardest part can be admitting to the fact that you actually have a problem. To avoid running into problems in the first place, try to educate yourself as much as possible about debt and the damage it can wreak on your financial health.
A recent report has stated that American credit card debt is estimated to stand at around $785 billion, which averages out at about $7500 for each household. Another recent survey of 1500 consumers carried out by another company, said 71% of people asked said debt is causing them some level of distress.
To summarize: My advice would be to try and start making some improvements right away, although you must realize that setting yourself free from debt might not turn out to be a quick or necessarily easy process.
If you do happen to be in debt, the two best types of debt to have are home equity loans and mortgages. The usual options for those who have large amounts of debt are either debt consolidation or to think about going bankrupt. Bankruptcy is very often the result of medical problems, losing a job, or sometimes a marriage breakdown, which results in the accumulation of debt. About 20% of folk in debt are being treated for depression and similar ailments from their doctor, which shows what a stressful experience it can be.
Be on your guard, there are many companies out there who promise a quick fix to all your financial problems. But be very careful, some of them may charge high fees and fail to deliver on their promises. With a lot of personal debt problems, the hardest part can be admitting to the fact that you actually have a problem. To avoid running into problems in the first place, try to educate yourself as much as possible about debt and the damage it can wreak on your financial health.
A recent report has stated that American credit card debt is estimated to stand at around $785 billion, which averages out at about $7500 for each household. Another recent survey of 1500 consumers carried out by another company, said 71% of people asked said debt is causing them some level of distress.
To summarize: My advice would be to try and start making some improvements right away, although you must realize that setting yourself free from debt might not turn out to be a quick or necessarily easy process.
Tuesday, December 29, 2009
Personal Debt Consolidation Loan Stretches Your Budget While Unemployed
If you are juggling multiple credit cards and possibly other debts as well, anything that lowers your income, such as losing your job or making less in commissions, will affect your ability to make your payments. The short term solution may be to increase your disposable income by reducing your expenses. An effective and financially beneficial way to reduce your debt repayments is to consolidate them into one personal debt consolidation loan.
You are spending more on debt than you have to if you are paying for a number of different credit cards and loans each month. Credit cards and consumer lines of credit tend to have higher interest than your average personal debt consolidation loan and can easily stay high. By transferring loan balances to a personal debt consolidation loan, you can stretch your budget by freeing up income that can be used for necessary expenses.
A personal debt consolidation loan can benefit you in many ways. Here are just a few of them:
1. If you combine your debts into one personal debt consolidation loan, you will lower your monthly expenses, sometimes quite significantly. This means you will keep more of your own money every month to cover living expenses. This monthly saving will immediately alleviate a lot of financial pressure. So why wait any longer before you take action?
2. Instead of having to remember a lot of different payments on different due dates every month, combining your loans into one personal debt consolidation will make financial organization easier. When you have had a significant income loss, anything that helps to reduce financial stress is beneficial.
3. You will save a lot of money over the term of the loan. Not only will you have more money in your pocket every month, you will save thousands over the years you are paying off the loan. When you consider that the other loans may never have been paid off, you may well have saved more money than you can guess at.
It’s important to cancel your credit cards and any lines of credit once you have consolidated your debts into one personal debt consolidation loan. Otherwise, you’ll probably use them under pressure and your debt will increase again. You need to make a firm decision not to increase your debt and focus on paying off your personal debt consolidation term.
To help keep yourself on track, design a budget that you are able to stick to and which will cover all necessary expenses. Try to include savings for emergencies. It is far more stressful to spend above your income than it is to keep to a strict budget and as your income increases you will be able to include more of your ‘wants’ into your budget.
A personal debt consolidation loan can help you keep going in tough times. If you continue to make good financial decisions and avoid over spending, it can be the first step to financial independence.
You are spending more on debt than you have to if you are paying for a number of different credit cards and loans each month. Credit cards and consumer lines of credit tend to have higher interest than your average personal debt consolidation loan and can easily stay high. By transferring loan balances to a personal debt consolidation loan, you can stretch your budget by freeing up income that can be used for necessary expenses.
A personal debt consolidation loan can benefit you in many ways. Here are just a few of them:
1. If you combine your debts into one personal debt consolidation loan, you will lower your monthly expenses, sometimes quite significantly. This means you will keep more of your own money every month to cover living expenses. This monthly saving will immediately alleviate a lot of financial pressure. So why wait any longer before you take action?
2. Instead of having to remember a lot of different payments on different due dates every month, combining your loans into one personal debt consolidation will make financial organization easier. When you have had a significant income loss, anything that helps to reduce financial stress is beneficial.
3. You will save a lot of money over the term of the loan. Not only will you have more money in your pocket every month, you will save thousands over the years you are paying off the loan. When you consider that the other loans may never have been paid off, you may well have saved more money than you can guess at.
It’s important to cancel your credit cards and any lines of credit once you have consolidated your debts into one personal debt consolidation loan. Otherwise, you’ll probably use them under pressure and your debt will increase again. You need to make a firm decision not to increase your debt and focus on paying off your personal debt consolidation term.
To help keep yourself on track, design a budget that you are able to stick to and which will cover all necessary expenses. Try to include savings for emergencies. It is far more stressful to spend above your income than it is to keep to a strict budget and as your income increases you will be able to include more of your ‘wants’ into your budget.
A personal debt consolidation loan can help you keep going in tough times. If you continue to make good financial decisions and avoid over spending, it can be the first step to financial independence.
Personal Debt Consolidation Loan - The Help You Need For Your Family's Future
You may be struggling under the weight of a high debt burden and wondering if you will need to downsize your lifestyle by moving to a cheaper neighborhood. Before you take your children out of a good school, why not consider the option of a personal debt consolidation loan?
By consolidating all non-mortgage debts into one lower interest loan, your monthly debt repayment costs will be dramatically lowered, freeing up money for other things.
There are a number of benefits to using a personal debt consolidation loan to consolidate debt. These include:
OVERALL LOWER COSTS. When you are struggling to pay bills and just get by every week, the impact of high interest rates over a long period of time can easily be ignored. However, if you spend tens of thousands of dollars on interest costs over a decade that is money you could not have used to build your wealth, even if you wanted to.
ONE, LOWER MONTHLY REPAYMENT. This is the benefit that will give you immediate relief from financial pressure. Firstly, you won’t have the stress of trying to find the money for the many debt payments you were juggling.
Depending on your current loan amounts and the interest rates being charged on them, you can save a good amount or a substantial amount by combining all your loans into one personal debt consolidation loan. Secondly, you won’t have the stress of having to make a number of payments every month on different dates. It can be difficult to manage the payments and easy to miss a date leading to late payment fees and penalties.
A SET PAYMENT AND SET TIME. A personal debt consolidation loan has set monthly payments that do not alter so you know exactly where you stand. The loan will also be fully paid out at the end of the term. This helps you to manage your finances better and also provides the assurance that you will be debt free at the end of it.
LOWERS STRESS. Modern life is stressful enough without serious financial pressure thrown in. It has been found that high stress levels are linked to diabetes, heart disease, cancer and hormonal imbalances.
These health effects can place even more stress on you and so the cycle continues. If debt is the main cause of your stress, you can break the stress cycle with a decision. A personal debt consolidation loan can lower your overall stress levels substantially and your health will probably start improving straight away. And the side effects are all positive!
So before you uproot your family and settle in a less salubrious neighborhood, seriously consider the option of using a personal debt consolidation loan to improve your financial position. It may be a more palatable solution to your debt problems.
By consolidating all non-mortgage debts into one lower interest loan, your monthly debt repayment costs will be dramatically lowered, freeing up money for other things.
There are a number of benefits to using a personal debt consolidation loan to consolidate debt. These include:
OVERALL LOWER COSTS. When you are struggling to pay bills and just get by every week, the impact of high interest rates over a long period of time can easily be ignored. However, if you spend tens of thousands of dollars on interest costs over a decade that is money you could not have used to build your wealth, even if you wanted to.
ONE, LOWER MONTHLY REPAYMENT. This is the benefit that will give you immediate relief from financial pressure. Firstly, you won’t have the stress of trying to find the money for the many debt payments you were juggling.
Depending on your current loan amounts and the interest rates being charged on them, you can save a good amount or a substantial amount by combining all your loans into one personal debt consolidation loan. Secondly, you won’t have the stress of having to make a number of payments every month on different dates. It can be difficult to manage the payments and easy to miss a date leading to late payment fees and penalties.
A SET PAYMENT AND SET TIME. A personal debt consolidation loan has set monthly payments that do not alter so you know exactly where you stand. The loan will also be fully paid out at the end of the term. This helps you to manage your finances better and also provides the assurance that you will be debt free at the end of it.
LOWERS STRESS. Modern life is stressful enough without serious financial pressure thrown in. It has been found that high stress levels are linked to diabetes, heart disease, cancer and hormonal imbalances.
These health effects can place even more stress on you and so the cycle continues. If debt is the main cause of your stress, you can break the stress cycle with a decision. A personal debt consolidation loan can lower your overall stress levels substantially and your health will probably start improving straight away. And the side effects are all positive!
So before you uproot your family and settle in a less salubrious neighborhood, seriously consider the option of using a personal debt consolidation loan to improve your financial position. It may be a more palatable solution to your debt problems.
Personal Debt Consolidation Loan - No Assets Required To Get Your Debt Under Control
Debt has a way of growing if it isn't brought under control. Credit cards in particular can be hazards to your financial health. However, if you are ready to overcome your debt problem, a personal debt consolidation loan may well be the answer you are looking for. By consolidating all your credit cards and other debts into one unsecured personal debt consolidation loan, you can increase your monthly disposable income so that you have more money available for the things you need and want to use it on. Debt consolidation will also save you money in the long term because these loans tend to be lower cost than credit cards. Furthermore, you can access this wonderful resource without risk to your assets.
You have probably been struggling with debt for some time and no doubt have considered options for solving your problems. What has stopped you from taking action? Financial stress can be very paralyzing. We can spend our time trying to solve immediate problems only to find that next month we have to do the same thing. Unfortunately, this focus on getting by for another month instead of changing the entire circumstances keeps us in bondage to high debt costs and financial lack. The simple decision to use a personal debt consolidation loan to pay out all other non-mortgage debts will alleviate financial stress immediately.
There are four steps to breaking free of the high costs of debt:
1. ACKNOWLEDGE. The first step is to acknowledge that you have a problem that needs to be fixed. Sometimes we can just plod on and avoid facing the truth that life doesn't have to be this way. There is a solution to your financial stress; you just have to identify it.
2. TAKE ACTION. Nothing will change if you don't take action. Fear can sometimes prevent us from doing what we know we should. Particularly, when we are in debt and feel stupid and embarrassed about it, we don't want to seek help for fear of ridicule and derision. You have enough to cope with and don't feel you can cope with anything else. However, taking the time to look for a low interest, low fee personal debt consolidation loan which can solve your problem, is a non-threatening activity that can take you closer financial freedom. Once you become fully aware of the products on the market and have decided on which one would be best for you, you can apply online if you are embarrassed. Lenders market personal debt consolidation loan products because a lot of people are in trouble with their credit cards. Don't let fear stop you taking action.
3. ASSESS. Once you have combined your debts into one personal debt consolidation loan, pay attention to your spending patterns and stick to a budget. Try to include savings for emergencies or any planned items so that you will not need to fall back on credit. After the first month of your new financial plan, assess how you have done. Be honest. Have you stuck to your budget? If you have gone off the rails, what was the temptation?
4. ADJUST. Once you identify your problem areas, adjust your budget to suit. If you overspent by going out and you didn't include entertainment in your budget, you need to change your budget. You won't stay with it if you don't get any personal pay-offs.
If you take these steps to improve your financial circumstances, you are guaranteeing that you will be debt free at the end of the term of your new personal debt consolidation loan.
You have probably been struggling with debt for some time and no doubt have considered options for solving your problems. What has stopped you from taking action? Financial stress can be very paralyzing. We can spend our time trying to solve immediate problems only to find that next month we have to do the same thing. Unfortunately, this focus on getting by for another month instead of changing the entire circumstances keeps us in bondage to high debt costs and financial lack. The simple decision to use a personal debt consolidation loan to pay out all other non-mortgage debts will alleviate financial stress immediately.
There are four steps to breaking free of the high costs of debt:
1. ACKNOWLEDGE. The first step is to acknowledge that you have a problem that needs to be fixed. Sometimes we can just plod on and avoid facing the truth that life doesn't have to be this way. There is a solution to your financial stress; you just have to identify it.
2. TAKE ACTION. Nothing will change if you don't take action. Fear can sometimes prevent us from doing what we know we should. Particularly, when we are in debt and feel stupid and embarrassed about it, we don't want to seek help for fear of ridicule and derision. You have enough to cope with and don't feel you can cope with anything else. However, taking the time to look for a low interest, low fee personal debt consolidation loan which can solve your problem, is a non-threatening activity that can take you closer financial freedom. Once you become fully aware of the products on the market and have decided on which one would be best for you, you can apply online if you are embarrassed. Lenders market personal debt consolidation loan products because a lot of people are in trouble with their credit cards. Don't let fear stop you taking action.
3. ASSESS. Once you have combined your debts into one personal debt consolidation loan, pay attention to your spending patterns and stick to a budget. Try to include savings for emergencies or any planned items so that you will not need to fall back on credit. After the first month of your new financial plan, assess how you have done. Be honest. Have you stuck to your budget? If you have gone off the rails, what was the temptation?
4. ADJUST. Once you identify your problem areas, adjust your budget to suit. If you overspent by going out and you didn't include entertainment in your budget, you need to change your budget. You won't stay with it if you don't get any personal pay-offs.
If you take these steps to improve your financial circumstances, you are guaranteeing that you will be debt free at the end of the term of your new personal debt consolidation loan.
Personal Bankruptcy And Harassing Creditors
Just about everyone who gets a little behind on their bills will get a friendly reminder call from a creditor. But once in awhile, those calls turn out to be not so friendly. While there are certain laws to protect the consumer from harassing calls at home and at work, not every debt collector plays by the rules.
They are willing to try to browbeat, threaten and take whatever steps they deem necessary to collect money and some actually believe they are doing the right thing with their collection efforts. Many consumers will cave to their demands simply to stop the calls. However, if one creditor is calling there’s a good chance that others are also making the calls and getting one to stop will not stop the others.
Once a person files for personal bankruptcy, the calls should cease to come to the house. It may about a week for the creditors to be notified of the pending action and calls may still be made until they are notified, but then do come in, the creditors should be advised to contact the bankruptcy attorney. If they continue to call after being notified of the bankruptcy filing, they can be held legally accountable.
The debtor needs to keep track of the names, dates and times of any calls that come in after all debtors have been notified let the attorney know and allow them to deal with it through the appropriate legal channels. While some creditors use outside collection services, once the creditor is notified of the filing, all contact must go through the personal bankruptcy attorney.
There are several things that you want to think about as you are researching and discussing bankruptcy. One of these things is going to be creditor bankruptcy, which is a different type of bankruptcy that you might want to consider. Creditor bankruptcy means that you are going through your creditors in order to declare that you do not have the money needed to pay them the money that you owe.
Once you have declared creditor bankruptcy there are several things that will happen. First of all, you will be able to legally declare that you don’t have the money to pay your creditors. Then, they will no longer be able to hound you for the money, and the money will be written off as an unpaid debt. Then, you will be able to start from scratch when it comes to your credit.
Even though creditor bankruptcy will allow you to get out of paying the bills that you currently have due, it is not something that you want to do unless you have no other choice. If you declare creditor bankruptcy you are going to have to have it on your record, and this is not something that you want.
It will be hard for you to rebuild your credit, and you will end up having a lot of problems. Therefore, creditor bankruptcy should be a last resort. Be sure that you talk to your lawyer and your financial advisor in order to figure out what exactly you should be doing, and what types of bankruptcy are going to be the best for you to declare if need be.
They are willing to try to browbeat, threaten and take whatever steps they deem necessary to collect money and some actually believe they are doing the right thing with their collection efforts. Many consumers will cave to their demands simply to stop the calls. However, if one creditor is calling there’s a good chance that others are also making the calls and getting one to stop will not stop the others.
Once a person files for personal bankruptcy, the calls should cease to come to the house. It may about a week for the creditors to be notified of the pending action and calls may still be made until they are notified, but then do come in, the creditors should be advised to contact the bankruptcy attorney. If they continue to call after being notified of the bankruptcy filing, they can be held legally accountable.
The debtor needs to keep track of the names, dates and times of any calls that come in after all debtors have been notified let the attorney know and allow them to deal with it through the appropriate legal channels. While some creditors use outside collection services, once the creditor is notified of the filing, all contact must go through the personal bankruptcy attorney.
There are several things that you want to think about as you are researching and discussing bankruptcy. One of these things is going to be creditor bankruptcy, which is a different type of bankruptcy that you might want to consider. Creditor bankruptcy means that you are going through your creditors in order to declare that you do not have the money needed to pay them the money that you owe.
Once you have declared creditor bankruptcy there are several things that will happen. First of all, you will be able to legally declare that you don’t have the money to pay your creditors. Then, they will no longer be able to hound you for the money, and the money will be written off as an unpaid debt. Then, you will be able to start from scratch when it comes to your credit.
Even though creditor bankruptcy will allow you to get out of paying the bills that you currently have due, it is not something that you want to do unless you have no other choice. If you declare creditor bankruptcy you are going to have to have it on your record, and this is not something that you want.
It will be hard for you to rebuild your credit, and you will end up having a lot of problems. Therefore, creditor bankruptcy should be a last resort. Be sure that you talk to your lawyer and your financial advisor in order to figure out what exactly you should be doing, and what types of bankruptcy are going to be the best for you to declare if need be.
Person-To-Person Loans Advice
If you want to try out a new type of loan, then look no further than a person-to-person loan. These loans are becoming increasingly popular, and are a change from the traditional type of loan. If you want to know more about these unique financial products, then here is some advice about person-to-person lending.
What is a person-to-person loan?
A person-to-person loan is a loan that bypasses the normal system of banks or traditional lending institutions. However, this is not just a handout from friends or family, but rather a legal contract between people who want to borrow and invest. This new type of loan runs much like a betting exchange, in that people go onto web sites and seek loans, whilst others seek investment in people.
Why has this come about?
This type of product has come about due to the inflexibility and expense of traditional loans. Many people want an alternative to the traditional loan, and this type of loan gives them that opportunity.
What are the advantages?
The advantages of such a system are that people can find a loan that they might not normally be able to get hold of, and at a more competitive rate. As long as someone is willing to lend you the money, then you can get hold of that loan. Also, it allows you to lend money to other people, and possibly make money from this.
The risks involved
Obviously, there are risks involved in this process, especially if you are offering a loan. As for any other lender, there is no guarantee that the person will repay the loan. However, there are methods in place on most person-to-person web sites to make sure that penalty fees and money is collected should payments be late. However, all loans are unsecured so there is no security if the person defaults. Also, the identity of people using the web sites is fully verified from a variety of sources, meaning you can be confident that people are who they say they are and that their creditworthiness is accurate.
How does someone lend me money?
You are lent money in much the same way as a bank, only you the lender is an individual. People advertise online the loans that they are offering, and you can apply for these loans like you would any other loan. The person offering the loan can see information regarding your credit worthiness and your ability to pay back the loan. They will then decide whether or not to give you the loan.
Will it catch on?
Although it is in its early stages, person-to-person lending looks like getting more popular as the technology and security improves. People still have issues of trust with such systems, but they are likely to prove their effectiveness in time. If you want to look for a different way of borrowing or investing money, then person-to-person loans might be the answer. You might even get better terms than you would from a traditional lender.
What is a person-to-person loan?
A person-to-person loan is a loan that bypasses the normal system of banks or traditional lending institutions. However, this is not just a handout from friends or family, but rather a legal contract between people who want to borrow and invest. This new type of loan runs much like a betting exchange, in that people go onto web sites and seek loans, whilst others seek investment in people.
Why has this come about?
This type of product has come about due to the inflexibility and expense of traditional loans. Many people want an alternative to the traditional loan, and this type of loan gives them that opportunity.
What are the advantages?
The advantages of such a system are that people can find a loan that they might not normally be able to get hold of, and at a more competitive rate. As long as someone is willing to lend you the money, then you can get hold of that loan. Also, it allows you to lend money to other people, and possibly make money from this.
The risks involved
Obviously, there are risks involved in this process, especially if you are offering a loan. As for any other lender, there is no guarantee that the person will repay the loan. However, there are methods in place on most person-to-person web sites to make sure that penalty fees and money is collected should payments be late. However, all loans are unsecured so there is no security if the person defaults. Also, the identity of people using the web sites is fully verified from a variety of sources, meaning you can be confident that people are who they say they are and that their creditworthiness is accurate.
How does someone lend me money?
You are lent money in much the same way as a bank, only you the lender is an individual. People advertise online the loans that they are offering, and you can apply for these loans like you would any other loan. The person offering the loan can see information regarding your credit worthiness and your ability to pay back the loan. They will then decide whether or not to give you the loan.
Will it catch on?
Although it is in its early stages, person-to-person lending looks like getting more popular as the technology and security improves. People still have issues of trust with such systems, but they are likely to prove their effectiveness in time. If you want to look for a different way of borrowing or investing money, then person-to-person loans might be the answer. You might even get better terms than you would from a traditional lender.
Monday, December 28, 2009
Need Debt Consolidation? - How To Do It With A Cash Out Mortgage
Taking care of your debts can be done rather quickly by getting a cash out mortgage. A cash out mortgage is actually a first mortgage and it will require you to refinance your existing one. There are some real advantages by doing it this way - such as getting the lowest interest rate for any loan. Here is how you can go about getting that new mortgage for you debt consolidation.
A cash out mortgage allows you to get the equity out of your home's equity by refinancing your first mortgage, which pays that off, and by adding to the loan the amount of equity that you want. The lender, of course, will determine exactly how much of your equity you can get. This will depend on your credit score and your ability to repay the loan.
Getting the equity out of your home for debt consolidation allows you to do it with the cheapest type of loan possible - a first mortgage. You want to time it right, though, and watch the market for dips in the interest rate in order to get the best interest rate possible. Then you will want to lock your rate and remortgage. Wait for the interest rate to be at least 1% below what you are paying now.
You may also want to reduce the amount of repayment time by about five years. This may raise your monthly payment slightly, but it will save you many tens of thousands of dollars if you have more than ten years left. Since the object is to get out of debt as soon as possible, this is a good way to do it. Not only will this method allow you to have your debt consolidation, but it will also give you a brand new start – as long as you take some good steps to bring further debt under control.
The equity that is available in your home is calculated by the present value of your home minus whatever you still owe. The balance is the equity. However, you only want to borrow a maximum of 80% of the value of the home so that you do not need to get Private Mortgage Insurance.
Getting a new first mortgage on your home, though, will mean that you should be planning on living in it for at least another seven years or more. The cost of refinancing will be similar to that of getting a mortgage in the first place, and it will take a few years to get back the cost.
Once you get your cash out mortgage, you can do with the money as you wish. The first thing, though, is to consolidate that debt by paying it off, and then see what is left for those extras. Home improvements are always a great way to use some of that money which will bring you the greatest returns in the long run.
Be sure to get several quotes before you get that new mortgage. Wise debt control starts by being careful in all of your purchases. This gives you the greatest amount of savings, and allows you to stay in control. And, hopefully, you will never have to worry about a need to consolidate those debts again.
A cash out mortgage allows you to get the equity out of your home's equity by refinancing your first mortgage, which pays that off, and by adding to the loan the amount of equity that you want. The lender, of course, will determine exactly how much of your equity you can get. This will depend on your credit score and your ability to repay the loan.
Getting the equity out of your home for debt consolidation allows you to do it with the cheapest type of loan possible - a first mortgage. You want to time it right, though, and watch the market for dips in the interest rate in order to get the best interest rate possible. Then you will want to lock your rate and remortgage. Wait for the interest rate to be at least 1% below what you are paying now.
You may also want to reduce the amount of repayment time by about five years. This may raise your monthly payment slightly, but it will save you many tens of thousands of dollars if you have more than ten years left. Since the object is to get out of debt as soon as possible, this is a good way to do it. Not only will this method allow you to have your debt consolidation, but it will also give you a brand new start – as long as you take some good steps to bring further debt under control.
The equity that is available in your home is calculated by the present value of your home minus whatever you still owe. The balance is the equity. However, you only want to borrow a maximum of 80% of the value of the home so that you do not need to get Private Mortgage Insurance.
Getting a new first mortgage on your home, though, will mean that you should be planning on living in it for at least another seven years or more. The cost of refinancing will be similar to that of getting a mortgage in the first place, and it will take a few years to get back the cost.
Once you get your cash out mortgage, you can do with the money as you wish. The first thing, though, is to consolidate that debt by paying it off, and then see what is left for those extras. Home improvements are always a great way to use some of that money which will bring you the greatest returns in the long run.
Be sure to get several quotes before you get that new mortgage. Wise debt control starts by being careful in all of your purchases. This gives you the greatest amount of savings, and allows you to stay in control. And, hopefully, you will never have to worry about a need to consolidate those debts again.
Personality Of Debt
Have you had the opportunity to deal with a person in debt? Are they in denial about their financial situation? In my opinion, people in debt are in denial to everyone around them about their financial situation. In their denial, they actually develop a personality. According to Webster’s Dictionary, the word personality means quality or condition of a person. Debt means something owned. From my perspective, when someone is in debt, the quality or condition of that person changes.
Prior to being in debt you might experience a person with these qualities: confidence, calm, pleasant, truthful and forthright. Once a person gets into debt that they cannot manage they began displaying qualities that are almost unbearable such as mean attitude, denial, frustration, denial, dishonesty and avoidance. When I say avoidance, they do not take phone calls from the person they owe. They are screening their phone calls knowing they owe you but thinking you will get tired of trying to collect. From my experience, if they have bounced a check on you they also become belligerent when you contact them. They try to make you feel as if you are at fault for trying to collect. They also do not make good on the check. This is where they become dishonest and untrustworthy.
Personality of debt can lead a person to do things they might not otherwise do. Based on the fact they are so emotionally entangled in their debt and cannot see options to clean up the situation, you begin making poor decisions. For example, if you had your regular job, and had the opportunity to work a second job on weekends to bring in additional money and turned it down because you would rather hang out around the house. Yet, you complain continuously at your regular job about not having enough money to do anything. When a person is in debt and complains continuously about their situation, it does not make sense to complain if you are unwilling to take action.
People that have the personality of debt can make them lose friends, strain family relationships and hinder their job. Why do I say hinder their job? In my opinion it can hinder the job for several reasons:
1) So far in debt, they are frustrated when they walk in the door;
2) Work performance declines. Can only think about being in debt and does less work.
3) Or they do work but they are messing up on the job.
Either one of these could make a boss watch your performance for a period of time and then decide to terminate you based on your actions. One other aspect of personality of debt that should not be overlooked is the fact that your debt personality’s negativity might bring down co-workers. When personality of debt influences the work environment in a less productive manner something needs to be done.
Personality of debt changes an otherwise happy person into someone that most people do not like to associate with for any length of time. If you are reading this article and it reminds you of someone, assure them they can make a change in their life. They need to take action and begin taking steps to remove the personality of debt and debt from their life.
Prior to being in debt you might experience a person with these qualities: confidence, calm, pleasant, truthful and forthright. Once a person gets into debt that they cannot manage they began displaying qualities that are almost unbearable such as mean attitude, denial, frustration, denial, dishonesty and avoidance. When I say avoidance, they do not take phone calls from the person they owe. They are screening their phone calls knowing they owe you but thinking you will get tired of trying to collect. From my experience, if they have bounced a check on you they also become belligerent when you contact them. They try to make you feel as if you are at fault for trying to collect. They also do not make good on the check. This is where they become dishonest and untrustworthy.
Personality of debt can lead a person to do things they might not otherwise do. Based on the fact they are so emotionally entangled in their debt and cannot see options to clean up the situation, you begin making poor decisions. For example, if you had your regular job, and had the opportunity to work a second job on weekends to bring in additional money and turned it down because you would rather hang out around the house. Yet, you complain continuously at your regular job about not having enough money to do anything. When a person is in debt and complains continuously about their situation, it does not make sense to complain if you are unwilling to take action.
People that have the personality of debt can make them lose friends, strain family relationships and hinder their job. Why do I say hinder their job? In my opinion it can hinder the job for several reasons:
1) So far in debt, they are frustrated when they walk in the door;
2) Work performance declines. Can only think about being in debt and does less work.
3) Or they do work but they are messing up on the job.
Either one of these could make a boss watch your performance for a period of time and then decide to terminate you based on your actions. One other aspect of personality of debt that should not be overlooked is the fact that your debt personality’s negativity might bring down co-workers. When personality of debt influences the work environment in a less productive manner something needs to be done.
Personality of debt changes an otherwise happy person into someone that most people do not like to associate with for any length of time. If you are reading this article and it reminds you of someone, assure them they can make a change in their life. They need to take action and begin taking steps to remove the personality of debt and debt from their life.
Need College Expenses? - Try Refinancing Your Mortgage
Having someone in your home that is going to college certainly does put an extra pinch on the finances. This could make it difficult for the student as well as the parents. If you have lived in your home for a while, though, by refinancing your mortgage you could get access to your equity. This would give you a low cost loan that could pay your student’s way through his or her college years - and it may even allow you to reduce your monthly payment, too.
Calculate Your Equity
The equity in your home, which builds up each year you are there, could provide you with all the money you need for college expenses - and more. Depending on how long you have lived there, you may have enough to pay more than one bill for school. You can calculate your equity quickly if you know what your home is worth now, and what you have left to pay on your mortgage. Just subtract the amount you owe from the worth of the home, and then multiply by .8. This figure will actually show you 80% of your equity. If you take out more than this, you will need to pay for private mortgage insurance.
Figure Out How Much You Need
While you are thinking about getting hold of the cash you need for college expenses, you may as well think about other projects you might need cash for, too. Anything goes, whether it is a renovation on your home, a long vacation or trip, debt consolidation - now would be the time to get it.
The lender, however, will recalculate any amount of equity that you get. The loan officer will also take a long look at your finances and credit history, too, in order to determine the actual amount you can receive.
Get A New Interest Rate
If you watch the mortgage interest rates on the market, you will be able to know the best time to apply for your mortgage refinance. If the market should permit it, you could reduce your monthly payment, a well as the total amount you owe for the mortgage.
There are many different types of mortgages you could apply for, but if you have an adjustable rate mortgage, it may be a good time to get into something that is more economically stable. A fixed rate mortgage would provide you with level payments that continue throughout the loan term.
Save More By Reducing The Time
Instead of refinancing your mortgage for another 30 years or so, reduce it as much as you can - possibly to 15 or 20 years. This will result in many tens of thousands of dollars saved - and allow you to get out of debt quicker, too - if you continue to live in that house.
Shop Around For Best Results
When it comes time for you to refinance your mortgage, you will want to shop around for the best deal. Lenders vary quite a bit in fees, interest rates and terms that they offer, so looking around becomes imperative. Too many people could have had better deals if they only paid a little closer attention to what they were getting.
Calculate Your Equity
The equity in your home, which builds up each year you are there, could provide you with all the money you need for college expenses - and more. Depending on how long you have lived there, you may have enough to pay more than one bill for school. You can calculate your equity quickly if you know what your home is worth now, and what you have left to pay on your mortgage. Just subtract the amount you owe from the worth of the home, and then multiply by .8. This figure will actually show you 80% of your equity. If you take out more than this, you will need to pay for private mortgage insurance.
Figure Out How Much You Need
While you are thinking about getting hold of the cash you need for college expenses, you may as well think about other projects you might need cash for, too. Anything goes, whether it is a renovation on your home, a long vacation or trip, debt consolidation - now would be the time to get it.
The lender, however, will recalculate any amount of equity that you get. The loan officer will also take a long look at your finances and credit history, too, in order to determine the actual amount you can receive.
Get A New Interest Rate
If you watch the mortgage interest rates on the market, you will be able to know the best time to apply for your mortgage refinance. If the market should permit it, you could reduce your monthly payment, a well as the total amount you owe for the mortgage.
There are many different types of mortgages you could apply for, but if you have an adjustable rate mortgage, it may be a good time to get into something that is more economically stable. A fixed rate mortgage would provide you with level payments that continue throughout the loan term.
Save More By Reducing The Time
Instead of refinancing your mortgage for another 30 years or so, reduce it as much as you can - possibly to 15 or 20 years. This will result in many tens of thousands of dollars saved - and allow you to get out of debt quicker, too - if you continue to live in that house.
Shop Around For Best Results
When it comes time for you to refinance your mortgage, you will want to shop around for the best deal. Lenders vary quite a bit in fees, interest rates and terms that they offer, so looking around becomes imperative. Too many people could have had better deals if they only paid a little closer attention to what they were getting.
Need A Mortgage... Negotiate
The life of money-making is one undertaken under compulsion and wealth is evidently not the good we are seeking; for it is merely useful for the sake of something else - Aristotle
For most, the cost of purchasing a home is the biggest financial decision of their lives and with the escalation of home prices over the past decade, shopping for a new home can be a bit traumatic when that perfect place is out of reach.
Although, you must be realistic in looking for homes that fall within your budget there are things you can do that will help stretch your dollar and get you into the house you've always dreamed of.
The process of buying a house really comes down to how much you can afford.
The first step in the mortgage process is getting pre-qualified. In essence, when a loan officer pre-qualifies you for a mortgage (purchase or refinance) they work backwards to figure the maximum mortgage amount you can afford or that you qualify for according to the lending guidelines.
Here is brief overview of how they do it. First of all, you need to understand that lenders only count income that can be documented. If you can't provide documentation of income then it can't be used.
Here are few examples: It's easy to determine income if you are an employee on a salary. If you get paid twice a month then your income is simply multiplied by 24 to determine your yearly income. If you are paid every two weeks then your income is multiplied by 26 to determine your yearly income.
If you are an hourly employee with little overtime then it's also fairly straightforward. However, it gets a little trickier if you work a bunch of overtime, receive commissions or bonuses because that portion of your income varies. What usually happens for borrowers that fit into this category is that the previous two years W2 forms are simply used and the past 2 or 3 months of actual income is used and then everything is averaged to determine monthly income.
For self-employed or 1099 borrowers income is pretty much determined by what your net income indicates from you tax return. This is usually shown on Schedule C at the bottom where it indicates "profit" and with most lenders they want a two-year track record.
However, more and more lenders, even lenders that focus on borrowers with less than stellar credit have become more creative in recent years and have programs that require less documentation. Some programs only require bank statements to verify income and there's even programs called "Stated" that simply use the industry average income for a particular profession, in a particular area of the country, without requiring any verification of income.
Other ways to stretch your dollar when it comes to getting a mortgage is to pay close attention to all the fees. All fees are listed on the Good Faith Estimate which is required to be shown and explained to all borrowers before a loan can be approved.
A key factor to remember in trying to secure any mortgage is that many of the fees, including the interest rate are negotiable. It's kind-of an industry secret, especially when it comes to interest rates, that interest rates are set in stone and out of the lenders hands but that simply is not the case.
The actual interest rate you receive is up to the loan officer, and it can vary by up to a full point, even more is some instances, for borrowers with bad credit. The reasons behind this are beyond the scope of this article but the bottom line is this… don't be afraid to question your interest rate, regardless of what you've been quoted, because there's a good change you can get it lowered by an eighth or quarter or perhaps even more.
Fees are another dirty little secret of the mortgage industry because most are negotiable. One of the biggest fees is the origination fee, which is normally 1% of the loan amount. This fee is simply all profit for the lender or broker and is totally negotiable. Don't be afraid to question this and get it down to a fixed dollar amount you can live with, especially for high loan amounts.
Other negotiable fees include: appraisal fees, processing fees, credit report fees, closing fees and lender fees. Lender fees are common for borrowers with bad credit and in some instances it's as high a $995. This is an actual fee that the lender is charging the broker but if you question it the broker can go to the lender and tell them that this deal is dead if they don't lower the fee and in many cases they will lower it significantly.
Remember, loan officers and lenders only make money if the loan goes through so it's in there best interest to do whatever it takes to make sure that happens. So… if you're prepared to walk from the deal because you feel the fees are too high or the interest rate is too high they will, in most instances, work with you. However, you must be realistic and if you expect virtually no closing costs and an unrealistically low 30 year fixed interest rate when you've got bad credit it's not going to happen.
In summary, shop around and after you get the best deal then go to work and negotiate, negotiate, and negotiate the fees and the rate. And by the way, you can do this with good credit or bad credit, whether you are buying your first home, your tenth home or simply refinancing your current mortgage. Follow these guidelines and you could save hundreds, even thousands in closing costs and perhaps secure a lower interest rate that will save you money each and every month.
Tip - For options in finding the best mortgage, new or refinance, check out the links below.
For most, the cost of purchasing a home is the biggest financial decision of their lives and with the escalation of home prices over the past decade, shopping for a new home can be a bit traumatic when that perfect place is out of reach.
Although, you must be realistic in looking for homes that fall within your budget there are things you can do that will help stretch your dollar and get you into the house you've always dreamed of.
The process of buying a house really comes down to how much you can afford.
The first step in the mortgage process is getting pre-qualified. In essence, when a loan officer pre-qualifies you for a mortgage (purchase or refinance) they work backwards to figure the maximum mortgage amount you can afford or that you qualify for according to the lending guidelines.
Here is brief overview of how they do it. First of all, you need to understand that lenders only count income that can be documented. If you can't provide documentation of income then it can't be used.
Here are few examples: It's easy to determine income if you are an employee on a salary. If you get paid twice a month then your income is simply multiplied by 24 to determine your yearly income. If you are paid every two weeks then your income is multiplied by 26 to determine your yearly income.
If you are an hourly employee with little overtime then it's also fairly straightforward. However, it gets a little trickier if you work a bunch of overtime, receive commissions or bonuses because that portion of your income varies. What usually happens for borrowers that fit into this category is that the previous two years W2 forms are simply used and the past 2 or 3 months of actual income is used and then everything is averaged to determine monthly income.
For self-employed or 1099 borrowers income is pretty much determined by what your net income indicates from you tax return. This is usually shown on Schedule C at the bottom where it indicates "profit" and with most lenders they want a two-year track record.
However, more and more lenders, even lenders that focus on borrowers with less than stellar credit have become more creative in recent years and have programs that require less documentation. Some programs only require bank statements to verify income and there's even programs called "Stated" that simply use the industry average income for a particular profession, in a particular area of the country, without requiring any verification of income.
Other ways to stretch your dollar when it comes to getting a mortgage is to pay close attention to all the fees. All fees are listed on the Good Faith Estimate which is required to be shown and explained to all borrowers before a loan can be approved.
A key factor to remember in trying to secure any mortgage is that many of the fees, including the interest rate are negotiable. It's kind-of an industry secret, especially when it comes to interest rates, that interest rates are set in stone and out of the lenders hands but that simply is not the case.
The actual interest rate you receive is up to the loan officer, and it can vary by up to a full point, even more is some instances, for borrowers with bad credit. The reasons behind this are beyond the scope of this article but the bottom line is this… don't be afraid to question your interest rate, regardless of what you've been quoted, because there's a good change you can get it lowered by an eighth or quarter or perhaps even more.
Fees are another dirty little secret of the mortgage industry because most are negotiable. One of the biggest fees is the origination fee, which is normally 1% of the loan amount. This fee is simply all profit for the lender or broker and is totally negotiable. Don't be afraid to question this and get it down to a fixed dollar amount you can live with, especially for high loan amounts.
Other negotiable fees include: appraisal fees, processing fees, credit report fees, closing fees and lender fees. Lender fees are common for borrowers with bad credit and in some instances it's as high a $995. This is an actual fee that the lender is charging the broker but if you question it the broker can go to the lender and tell them that this deal is dead if they don't lower the fee and in many cases they will lower it significantly.
Remember, loan officers and lenders only make money if the loan goes through so it's in there best interest to do whatever it takes to make sure that happens. So… if you're prepared to walk from the deal because you feel the fees are too high or the interest rate is too high they will, in most instances, work with you. However, you must be realistic and if you expect virtually no closing costs and an unrealistically low 30 year fixed interest rate when you've got bad credit it's not going to happen.
In summary, shop around and after you get the best deal then go to work and negotiate, negotiate, and negotiate the fees and the rate. And by the way, you can do this with good credit or bad credit, whether you are buying your first home, your tenth home or simply refinancing your current mortgage. Follow these guidelines and you could save hundreds, even thousands in closing costs and perhaps secure a lower interest rate that will save you money each and every month.
Tip - For options in finding the best mortgage, new or refinance, check out the links below.
Sunday, December 27, 2009
Need A Loan? Guess The Interest Rate
How do you find the best interest rates if you’re planning to apply for a loan? Until relatively recently, it was simple. There were plenty of lists of comparative rates published in table form on various websites. You could take your pick and investigate the terms of the cheapest lenders. This approach is not so easy any more.
Many banks are choosing to use a new system where the rate offered is dependent on your personal credit profile. At first glance, this appears to be a very fair system, but in fact would-be borrowers will have no idea of what interest rate they’ll be offered and so will be unable to make comparisons.
The Halifax, HSBC and Bank of Scotland have all switched to personal pricing and no longer advertise typical rates. In fact, most of the twenty leading lenders have adopted this method. The result of this is that customers applying for a loan will have very little idea of what rate they’ll be offered, or whether they’ll be accepted. This is a ridiculous situation as no should have to go “blind” into a credit application without a good idea of the interest rate.
It’s difficult to find out the rates by multiple loan applications, as each credit application is marked on your credit file. Lenders are understandably concerned where there have been excessive searches carried out and therefore the apparently simple process of achieving the best rate for your loan could affect your credit rating!
Even applying to your present bank for a loan will still require a credit check, but you may be able to gain some idea of what the interest rate is likely to be and most banks would, presumably, like to keep your business.
A representative of one of the leading banks has said the lending is on dangerous ground at present and that there are huge debt problems in the UK. Because of this, loan applications are increasingly likely to be rejected.
Where banks are still advertising headline interest rates it appears that lenders are failing to follow through with offers to a high proportion of applicants. Those who are successful are often offered a higher rate than the one advertised.
The Consumer Credit Act 2004 stipulates that lenders who advertise loans using a typical rate must lend money at that rate to at least 66% of successful applicants. Obviously by not showing a commitment to a rate, lenders can evade this rule.
A recent survey showed that, of almost 3,000 people who applied for a loan, 40% were refused almost immediately and 25% were accepted without delay. However some days later the remaining applicants were still waiting for a reply and it is expected that a further 17% will fail to be granted the rate they applied for.
There are a great many people applying for loans with the lowest headline rates and very many of them are going to be disappointed. Doubly so, as with every rejection they are putting the chance of obtaining a loan from another lender in jeopardy.
A browse through the internet will find you an advisor who should be able to offer some guidance and help you to avoid any nasty surprises.
Many banks are choosing to use a new system where the rate offered is dependent on your personal credit profile. At first glance, this appears to be a very fair system, but in fact would-be borrowers will have no idea of what interest rate they’ll be offered and so will be unable to make comparisons.
The Halifax, HSBC and Bank of Scotland have all switched to personal pricing and no longer advertise typical rates. In fact, most of the twenty leading lenders have adopted this method. The result of this is that customers applying for a loan will have very little idea of what rate they’ll be offered, or whether they’ll be accepted. This is a ridiculous situation as no should have to go “blind” into a credit application without a good idea of the interest rate.
It’s difficult to find out the rates by multiple loan applications, as each credit application is marked on your credit file. Lenders are understandably concerned where there have been excessive searches carried out and therefore the apparently simple process of achieving the best rate for your loan could affect your credit rating!
Even applying to your present bank for a loan will still require a credit check, but you may be able to gain some idea of what the interest rate is likely to be and most banks would, presumably, like to keep your business.
A representative of one of the leading banks has said the lending is on dangerous ground at present and that there are huge debt problems in the UK. Because of this, loan applications are increasingly likely to be rejected.
Where banks are still advertising headline interest rates it appears that lenders are failing to follow through with offers to a high proportion of applicants. Those who are successful are often offered a higher rate than the one advertised.
The Consumer Credit Act 2004 stipulates that lenders who advertise loans using a typical rate must lend money at that rate to at least 66% of successful applicants. Obviously by not showing a commitment to a rate, lenders can evade this rule.
A recent survey showed that, of almost 3,000 people who applied for a loan, 40% were refused almost immediately and 25% were accepted without delay. However some days later the remaining applicants were still waiting for a reply and it is expected that a further 17% will fail to be granted the rate they applied for.
There are a great many people applying for loans with the lowest headline rates and very many of them are going to be disappointed. Doubly so, as with every rejection they are putting the chance of obtaining a loan from another lender in jeopardy.
A browse through the internet will find you an advisor who should be able to offer some guidance and help you to avoid any nasty surprises.
Need A Loan After A Bankruptcy? Possible If You Have Equity
If you have had the misfortune to declare bankruptcy recently, then you definitely know what a struggle it can be to get funds. Not only do you have a limitation on your ability to get funds from most lenders, but even getting a credit card will not be easy. However, one option that you do have, if you possess a house, is the equity that is in the house. Here is how you may still be able to get the needed loan you want by the equity in your house.
After a bankruptcy, you will probably need to wait about two years before most lenders will give you any money. They calculate that it will probably take about that long to begin to get reestablished financially. So, in the interim, you will want to be careful to build your credit rating and do nothing to make it any worse than it is. Also, look over your credit report and see if there is anything on it that is not correct. If there is, work to get the necessary corrections before you apply for any loans.
The good thing is that your creditors know that you want to keep your house. Other things may have been lost but you have kept the house. They also figure that you still plan to keep it - even after they issue you a loan. That gives you some stability in their eyes, and even makes you a rather good risk. Even if you should decide to not make the payments, they still will have the house to recover their losses.
This makes it look rather good to them. As long as other things look good, like you've had your job for a while, make a decent salary and do not have a lot of other debt you are paying on now, then you may very well be able to get the loan you want.
Even then, you may still want to check around to make sure you get the best deal. One way to do this easily, is to apply online and get several quotes from a broker. This way you just fill out one application and you may receive several offers. It would be a good idea to see several offers, and compare them to find the best option.
Be sure that you will not be able to get really good terms - at least not nearly as good as someone with good credit. You will most likely have not only higher interest, but shorter repayment terms, too. They will also cut down on the size of the loan you can get, too.
A possibility exists, though, to work on getting a better loan. When you find someone will give you a loan, make it a small one. Get one that you can pay back in a short time. This way, you can start to rebuild your credit and get a larger one on better terms before long. The bankruptcy mark will stay with you for a while, but you still can have access to some of the loans you may need.
After a bankruptcy, you will probably need to wait about two years before most lenders will give you any money. They calculate that it will probably take about that long to begin to get reestablished financially. So, in the interim, you will want to be careful to build your credit rating and do nothing to make it any worse than it is. Also, look over your credit report and see if there is anything on it that is not correct. If there is, work to get the necessary corrections before you apply for any loans.
The good thing is that your creditors know that you want to keep your house. Other things may have been lost but you have kept the house. They also figure that you still plan to keep it - even after they issue you a loan. That gives you some stability in their eyes, and even makes you a rather good risk. Even if you should decide to not make the payments, they still will have the house to recover their losses.
This makes it look rather good to them. As long as other things look good, like you've had your job for a while, make a decent salary and do not have a lot of other debt you are paying on now, then you may very well be able to get the loan you want.
Even then, you may still want to check around to make sure you get the best deal. One way to do this easily, is to apply online and get several quotes from a broker. This way you just fill out one application and you may receive several offers. It would be a good idea to see several offers, and compare them to find the best option.
Be sure that you will not be able to get really good terms - at least not nearly as good as someone with good credit. You will most likely have not only higher interest, but shorter repayment terms, too. They will also cut down on the size of the loan you can get, too.
A possibility exists, though, to work on getting a better loan. When you find someone will give you a loan, make it a small one. Get one that you can pay back in a short time. This way, you can start to rebuild your credit and get a larger one on better terms before long. The bankruptcy mark will stay with you for a while, but you still can have access to some of the loans you may need.
Thursday, December 24, 2009
Increase your traffic through articles by 300%!
Many people are submitting articles to article directories, which is a great way to gain traffic. But none of them realize that there is a way to really optimize the results of writing an article.
The Mistake
When your submitting an article, do you paste your full article, I'm pretty sure that you do. There are two problems with this:
1) Provoking your reader to visit your site decreases
2) Google may read it as a supplement if you also posted the article on your blog/site also.
Explanations
1) When your reader finishes reading your article, and their satisfied, what would their normal behavior be, clicking on your web address or visit other articles to learn even more. It would be visiting other articles, but you don't want that to happen. So there is a way to solve this. When posting your article, only post the first half on the article directories and the full article on your site or blog.
Get the idea? So what would happen now, if your article was well composed and your reader is interested, then they would gladly visit your blog or site to continue on their read. It's a great way to get all your happy readers to your site.
2) As many people do, they submit their articles to directories and also post them on their site/blog. Now what happens, well Google greatly dislikes copied information. They call it a supplement, and if your article on the article directories gets indexed by Google, then the page on your blog or site will not be indexed by Google if you submit your full article on to the directories and onto your site or blog. So, just submit half your article on the directories and the full article on your site or blog.
Making it effective
Let's say that your teaching your reader something or exposing something that can greatly benefit them. Well you have to know when to exploit it, so you can get your reader to your site. On the first half of your article that you will submit to the article directories, go over the points on what you can offer and how it can benefit the reader, keep teasing the reader on what they could find out from reading the article, get the drift?
By this point your reader should be jumping off the walls waiting for you to finally tell them, so what do you do, just finish the article right there. Just add a little nice message saying that the full version of this article can be found at www.xxxx.com/ ( Your website).
;P Most likely they will click on your web address.
The Mistake
When your submitting an article, do you paste your full article, I'm pretty sure that you do. There are two problems with this:
1) Provoking your reader to visit your site decreases
2) Google may read it as a supplement if you also posted the article on your blog/site also.
Explanations
1) When your reader finishes reading your article, and their satisfied, what would their normal behavior be, clicking on your web address or visit other articles to learn even more. It would be visiting other articles, but you don't want that to happen. So there is a way to solve this. When posting your article, only post the first half on the article directories and the full article on your site or blog.
Get the idea? So what would happen now, if your article was well composed and your reader is interested, then they would gladly visit your blog or site to continue on their read. It's a great way to get all your happy readers to your site.
2) As many people do, they submit their articles to directories and also post them on their site/blog. Now what happens, well Google greatly dislikes copied information. They call it a supplement, and if your article on the article directories gets indexed by Google, then the page on your blog or site will not be indexed by Google if you submit your full article on to the directories and onto your site or blog. So, just submit half your article on the directories and the full article on your site or blog.
Making it effective
Let's say that your teaching your reader something or exposing something that can greatly benefit them. Well you have to know when to exploit it, so you can get your reader to your site. On the first half of your article that you will submit to the article directories, go over the points on what you can offer and how it can benefit the reader, keep teasing the reader on what they could find out from reading the article, get the drift?
By this point your reader should be jumping off the walls waiting for you to finally tell them, so what do you do, just finish the article right there. Just add a little nice message saying that the full version of this article can be found at www.xxxx.com/ ( Your website).
;P Most likely they will click on your web address.
Information Overload
The good news; at last, you have achieved your dream. You've escaped the traditional, away from home work force and are now self-employed whether it be part-time or full-time. Now, the bad news;You are now self-employed. It is both good news and bad news. That is, if you are not prepared to deal with the information overload.
There you sit, in your spiffy new office - whether it's in the corner of the sitting room or in a converted bedroom surrounded by your equally spiffy new toys...your computer, desk and some strategically placed shelves. Your new multi-function center will print stuff, fax stuff and copy stuff. (It won't hang out the washing, but hey, you can't have everything.)
You've even got work coming-in and the immediate worry about making a living has vanished. Hooray! You really *can* work from home! At first, working at home is pure bliss. Then you get a week when everybody and their dog seems to want your services. After putting in a few late nights, you meet all the deadlines and think; phew...I'm glad that's over! You decide to relax and give yourself a day off. After all, you worked all through the weekend and earned it, right?
Unfortunately, the following week you find yourself off to a bad start trying to make-up for your day off. Before you know it, you find that you are dropping further and further behind. You reflect gloomily that when you were working for someone else, at least at the end of the day you were finished...what didn't get done didn't get done!
Well, it's time to take heart and set a few simple strategies in place that will keep you in control of your time...and your sanity.
=== 1. Do NOT Accept Any New Work This Week. ===
Take a good look at what you have on your plate now, and carefully plan the week ahead. Your aim is to regain control. Tell new clients that you are fully booked, but you can put them on a priority list to be phoned next week. (This will not only allow you to catch up, but make your services appear highly in demand.)
=== 2. Build In Time For Leisure and Rest. ===
Not only for this week, but EVERY week. A half hour walk; a twenty-minute break in the sun with a cup of coffee; a quick swim or a movie outing with friends - all these activities can recharge your batteries. You will find that you can achieve far more when you are rested and alert. (How many times have you sat at the computer staring at the screen, achieving very little, because you're over-tired?)
=== 3. Tackle Urgent Tasks First. ===
If you're behind, your first step must be to contact all clients and arrange firm new deadlines. Make sure you base these new deadlines on what you CAN achieve, not what you HOPE you can achieve. If any existing client needs your services or products urgently, bump them up the queue.
=== 4. Prioritize Remaining Tasks. ===
Scrap anything that is not essential, and delegate what you can. Consider involving family, business associates or friends to handle some tasks. (Warning: do not hand over tasks that must be carried out only by you as the principal of the business. Your reputation is important.)
=== 5. Set Achievable Daily Goals. ===
If you finish a task ahead of schedule, begin the next... but adhere to a definite cut-off time each day. What you are doing this week is establishing a system that will continue to work for you.
Getting out of trouble when your business is in overload is just like getting out of debt. Your business rating is similar to your credit rating - nothing can be gained by denying that a problem exists. Nothing can be gained by slipping deeper into the mire. Call a halt; contact the main players; set workable strategies in place and you can quickly regroup.
Before you know it, your home business dream will be on track once more.
There you sit, in your spiffy new office - whether it's in the corner of the sitting room or in a converted bedroom surrounded by your equally spiffy new toys...your computer, desk and some strategically placed shelves. Your new multi-function center will print stuff, fax stuff and copy stuff. (It won't hang out the washing, but hey, you can't have everything.)
You've even got work coming-in and the immediate worry about making a living has vanished. Hooray! You really *can* work from home! At first, working at home is pure bliss. Then you get a week when everybody and their dog seems to want your services. After putting in a few late nights, you meet all the deadlines and think; phew...I'm glad that's over! You decide to relax and give yourself a day off. After all, you worked all through the weekend and earned it, right?
Unfortunately, the following week you find yourself off to a bad start trying to make-up for your day off. Before you know it, you find that you are dropping further and further behind. You reflect gloomily that when you were working for someone else, at least at the end of the day you were finished...what didn't get done didn't get done!
Well, it's time to take heart and set a few simple strategies in place that will keep you in control of your time...and your sanity.
=== 1. Do NOT Accept Any New Work This Week. ===
Take a good look at what you have on your plate now, and carefully plan the week ahead. Your aim is to regain control. Tell new clients that you are fully booked, but you can put them on a priority list to be phoned next week. (This will not only allow you to catch up, but make your services appear highly in demand.)
=== 2. Build In Time For Leisure and Rest. ===
Not only for this week, but EVERY week. A half hour walk; a twenty-minute break in the sun with a cup of coffee; a quick swim or a movie outing with friends - all these activities can recharge your batteries. You will find that you can achieve far more when you are rested and alert. (How many times have you sat at the computer staring at the screen, achieving very little, because you're over-tired?)
=== 3. Tackle Urgent Tasks First. ===
If you're behind, your first step must be to contact all clients and arrange firm new deadlines. Make sure you base these new deadlines on what you CAN achieve, not what you HOPE you can achieve. If any existing client needs your services or products urgently, bump them up the queue.
=== 4. Prioritize Remaining Tasks. ===
Scrap anything that is not essential, and delegate what you can. Consider involving family, business associates or friends to handle some tasks. (Warning: do not hand over tasks that must be carried out only by you as the principal of the business. Your reputation is important.)
=== 5. Set Achievable Daily Goals. ===
If you finish a task ahead of schedule, begin the next... but adhere to a definite cut-off time each day. What you are doing this week is establishing a system that will continue to work for you.
Getting out of trouble when your business is in overload is just like getting out of debt. Your business rating is similar to your credit rating - nothing can be gained by denying that a problem exists. Nothing can be gained by slipping deeper into the mire. Call a halt; contact the main players; set workable strategies in place and you can quickly regroup.
Before you know it, your home business dream will be on track once more.
Increase your traffic by 300% from adjusting your articles.
Many people are submitting articles to article directories, which is a great way to gain traffic. But none of them realize that there is a way to really optimize the results of writing an article.
The Mistake
When your submitting an article, do you paste your full article, I'm pretty sure that you do. There are two problems with this:
1) Provoking your reader to visit your site decreases
2) Google may read it as a supplement if you also posted the article on your blog/site also.
Explanations
1) When your reader finishes reading your article, and their satisfied, what would their normal behavior be, clicking on your web address or visit other articles to learn even more. It would be visiting other articles, but you don't want that to happen. So there is a way to solve this. When posting your article, only post the first half on the article directories and the full article on your site or blog. Get the idea? So what would happen now, if your article was well composed and your reader is interested, then they would gladly visit your blog or site to continue on their read. It's a great way to get all your happy readers to your site.
2) As many people do, they submit their articles to directories and also post them on their site/blog. Now what happens, well Google greatly dislikes copied information. They call it a supplement, and if your article on the article directories gets indexed by Google, then the page on your blog or site will not be indexed by Google if you submit your full article on to the directories and onto your site or blog. So, just submit half your article on the directories and the full article on your site or blog.
Making it effective
Let's say that your teaching your reader something or exposing something that can greatly benefit them. Well you have to know when to exploit it, so you can get your reader to your site. On the first half of your article that you will submit to the article directories, go over the points on what you can offer and how it can benefit the reader, keep teasing the reader on what they could find out from reading the article, get the drift?
By this point your reader should be jumping off the walls waiting for you to finally tell them, so what do you do, just finish the article right there. Just add a little nice message saying that the full version of this article can be found at http://www.xxxx.com/ ( Your website).
;P Most likely they will click on your web address.
The Mistake
When your submitting an article, do you paste your full article, I'm pretty sure that you do. There are two problems with this:
1) Provoking your reader to visit your site decreases
2) Google may read it as a supplement if you also posted the article on your blog/site also.
Explanations
1) When your reader finishes reading your article, and their satisfied, what would their normal behavior be, clicking on your web address or visit other articles to learn even more. It would be visiting other articles, but you don't want that to happen. So there is a way to solve this. When posting your article, only post the first half on the article directories and the full article on your site or blog. Get the idea? So what would happen now, if your article was well composed and your reader is interested, then they would gladly visit your blog or site to continue on their read. It's a great way to get all your happy readers to your site.
2) As many people do, they submit their articles to directories and also post them on their site/blog. Now what happens, well Google greatly dislikes copied information. They call it a supplement, and if your article on the article directories gets indexed by Google, then the page on your blog or site will not be indexed by Google if you submit your full article on to the directories and onto your site or blog. So, just submit half your article on the directories and the full article on your site or blog.
Making it effective
Let's say that your teaching your reader something or exposing something that can greatly benefit them. Well you have to know when to exploit it, so you can get your reader to your site. On the first half of your article that you will submit to the article directories, go over the points on what you can offer and how it can benefit the reader, keep teasing the reader on what they could find out from reading the article, get the drift?
By this point your reader should be jumping off the walls waiting for you to finally tell them, so what do you do, just finish the article right there. Just add a little nice message saying that the full version of this article can be found at http://www.xxxx.com/ ( Your website).
;P Most likely they will click on your web address.
Wednesday, December 23, 2009
Increase Your Response Rate With This Killer Promotional Gift Tactic
You've been around the block a time or two. When it comes to choosing promotional gifts for your clients, you know your stuff. Why, you always get the nicest phone calls, notes and emails from your clients, thanking you for their gifts.
The question is: do those people call and write again with new orders for your company's product or service? Which, when all is said and done, is what giving clients promotional gifts is all about. Right?
Of course! And most of the time after those polite thank you calls and notes, you hear nothing, at least not right away and certainly not in the way of increased orders and sales.
That's why you need to know this secret to giving the perfect promotional gifts to your clients-and guarantee results your accountant will notice.
The secret is personalization. No, no, not as in giving gifts with names and such engraved on them, though those can be quite, quite nice.
No, this is individualized personalization. That's a mouthful, isn't it? What it means is that when you're giving your clients promotional gifts, you need to think of each and every one of them as individuals-and give them gifts that speak to their tastes and interests.
This isn't as difficult as you might think. In the course of doing business with people, we learn a great deal about them. Things like if they're dog lovers, wine enthusiasts, proud parents, gadget freaks, that sort of thing.
So when it comes time to do promotional gift-giving, take those things you've learned about your clients and use them in choosing stellar gifts that will keep your customers calling you. Give that wine enthusiast a good bottle of wine. Wrap up a picture frame with a border of dogs on it for your dog lover client. Give you gadget freak client a handheld game or cell phone accessory.
No money for that? Think you should give everyone the same thing? Great! You can still personalize.
Think packaging here. Instead of cookie cutter wrapping paper, wrap the dog lover's promotional gift in paper with dog bones on it. Put a card with miniature wine accessories hot-glued to it on your wine enthusiast's gift. The possibilities are endless.
And in doing small things like this, you show your customers they're more than just dollar signs to you. They show you see and appreciate them as people. And as we all know, we like doing business with people who “get” us. Our clients and customers are no different! We like doing business with people who like us. Master the fine art of individualized personalization, and your bottom line will give you a very personal and sincere thank you.
The question is: do those people call and write again with new orders for your company's product or service? Which, when all is said and done, is what giving clients promotional gifts is all about. Right?
Of course! And most of the time after those polite thank you calls and notes, you hear nothing, at least not right away and certainly not in the way of increased orders and sales.
That's why you need to know this secret to giving the perfect promotional gifts to your clients-and guarantee results your accountant will notice.
The secret is personalization. No, no, not as in giving gifts with names and such engraved on them, though those can be quite, quite nice.
No, this is individualized personalization. That's a mouthful, isn't it? What it means is that when you're giving your clients promotional gifts, you need to think of each and every one of them as individuals-and give them gifts that speak to their tastes and interests.
This isn't as difficult as you might think. In the course of doing business with people, we learn a great deal about them. Things like if they're dog lovers, wine enthusiasts, proud parents, gadget freaks, that sort of thing.
So when it comes time to do promotional gift-giving, take those things you've learned about your clients and use them in choosing stellar gifts that will keep your customers calling you. Give that wine enthusiast a good bottle of wine. Wrap up a picture frame with a border of dogs on it for your dog lover client. Give you gadget freak client a handheld game or cell phone accessory.
No money for that? Think you should give everyone the same thing? Great! You can still personalize.
Think packaging here. Instead of cookie cutter wrapping paper, wrap the dog lover's promotional gift in paper with dog bones on it. Put a card with miniature wine accessories hot-glued to it on your wine enthusiast's gift. The possibilities are endless.
And in doing small things like this, you show your customers they're more than just dollar signs to you. They show you see and appreciate them as people. And as we all know, we like doing business with people who “get” us. Our clients and customers are no different! We like doing business with people who like us. Master the fine art of individualized personalization, and your bottom line will give you a very personal and sincere thank you.
Increase Your Exposure Through Trade Journals
Specializing in niche markets creates a powerhouse of ongoing business through word-of-mouth of advertising. Once you have achieved a position within a certain niche, that industry will begin to talk about you as the leading expert in your field. For instance if you are a web designer begin cultivating relationships through specific industries such as the gourmet food industry, private pilot industry, etc. Every single business has its trade organizations and publications for which they stay on top of their own trends. Break into these arenas and you will find rich resources for building your sales.
Begin by deciding which arenas you can be most effective. For instance if you are a search engine doctor it is certainly possible to work with anyone coming online. However, if you have a certain love of animals, a natural connection will be made through the pet industry. These industries have publications that are read by these types of business owners. Begin targeting these publications for advertising, article submissions, etc. By speaking their language and sharing their passion, you will have an instant connection.
Set yourself up as the expert in the niche industry of your choice. Look for publicity avenues that might be available through those trades. It is often much easier to get recognized in a trade than it is in a mainstream publication. Trades are constantly looking for content that will educate and inspire their business readers. Keep in mind when pitching that you are indeed speaking to business people and not the average consumer off the street. This means that your approach must be more sophisticated and educational. It is vital that you provide content that will make a significant difference in their everyday business ventures.
Create a specialized press kit that targets each niche trade publication and will speak "their" language. Make one-page pitches to the editors with a follow up call in about one week. Be polite and helpful. Offer your expertise and don't be afraid to share trade secrets. It will endear you to the editor and create more opportunities to get you into print. The fact is that some readers will take your trade secrets and actually use them, but the majority will be dazzled by your knowledge and choose to hire you to do the work. Most business owners recognize that they cannot do everything and wise one stick with what they do best and hire experts to do the rest. So become the expert they cannot do without. What do experts have? Knowledge and visibility.
Trade journals are the most overlooked publicity avenue in the business. This creates a dynamic opportunity for you to make a big impact and bring in mega loads of business while increasing your media attention.
Begin by deciding which arenas you can be most effective. For instance if you are a search engine doctor it is certainly possible to work with anyone coming online. However, if you have a certain love of animals, a natural connection will be made through the pet industry. These industries have publications that are read by these types of business owners. Begin targeting these publications for advertising, article submissions, etc. By speaking their language and sharing their passion, you will have an instant connection.
Set yourself up as the expert in the niche industry of your choice. Look for publicity avenues that might be available through those trades. It is often much easier to get recognized in a trade than it is in a mainstream publication. Trades are constantly looking for content that will educate and inspire their business readers. Keep in mind when pitching that you are indeed speaking to business people and not the average consumer off the street. This means that your approach must be more sophisticated and educational. It is vital that you provide content that will make a significant difference in their everyday business ventures.
Create a specialized press kit that targets each niche trade publication and will speak "their" language. Make one-page pitches to the editors with a follow up call in about one week. Be polite and helpful. Offer your expertise and don't be afraid to share trade secrets. It will endear you to the editor and create more opportunities to get you into print. The fact is that some readers will take your trade secrets and actually use them, but the majority will be dazzled by your knowledge and choose to hire you to do the work. Most business owners recognize that they cannot do everything and wise one stick with what they do best and hire experts to do the rest. So become the expert they cannot do without. What do experts have? Knowledge and visibility.
Trade journals are the most overlooked publicity avenue in the business. This creates a dynamic opportunity for you to make a big impact and bring in mega loads of business while increasing your media attention.
Increase your Adsense income
So you want to increase your Adsense income? Log into your Adsense account, and look at your last month's stats. There are three key areas that contribute to your earnings: Impressions, Clickthroughs and Effective CPM. Improving your stats in any, or preferably, all of these three key areas will increase your Adsense earnings.
Impressions
Impressions are the number of times your webpages with Adsense ads have been viewed. You can increase Impressions by increasing traffic (preferably targeted traffic) to your webpages.
Some of the best ways to increase targeted traffic to your webpages include:
-create more webpages, with relevant, focused content -create more links to your webpages -list your website/s under relevant categories in more directories -set up a directory of relevant sites on your website and accept relevant reciprocal links -write relevant articles, with your site information in the 'resource box' at the end of each article, and submit them to article directories
Clickthroughs
Clickthroughs are the percentage of viewers who click on your Adsense ads. You can increase Clickthroughs by increasing the relevance of Adsense ads on your site, and by tweaking the format and placing of your ads.
Although you can't dictat which Adsense ads show on your site, you can influence the relevance of the ads by maintaining a tighrly focused website. If every page on your site focuses tightly on the site topic, its more likely that the Adsense ads will too. For example, if every page of your site is about fishing, and the word 'fishing' appears several times on every page, its likely that your Adsense ads will relate to fishing.
The best way to tweak your ad format and placement is to invest in an Adsense Tracker, and test, test, test! People who have done this tend to suggest that the best format is the large rectangle, with background and border the same color as the page behind it, so that the ad blends into the page. The best placement is towards the center or top left of the first screen of the page. Try these suggestions first, and then track and test, to be sure of what works best for your pages.
Effective CPM
Effective CPM is a measure of your average earnings, per thousand clicks. You can increase your Effective CPM by selecting topics that attract high bids from Adsense advertisers, and building pages and whole websites on higher paying topics.
Although Google doesn't release information on Adsense bids, you can get a good idea of the top paying topics by looking at information on Adwords bids, or, for that matter, bids on pay-per-click search engines like Overture. There are a number of keyword research tools available, both free and paid, that can help you find high paying topics.
The Formula
So now you have the basics of increasing your Adsense income. Its a deceptively simple formula:
-Build pages and websites on high paying topics for the best Effective CPM. -Format and place your Adsense ads for maximum Clickthroughs. -Promote your sites to drive targeted traffic to your Adsense webpages for maximum impressions.
Impressions
Impressions are the number of times your webpages with Adsense ads have been viewed. You can increase Impressions by increasing traffic (preferably targeted traffic) to your webpages.
Some of the best ways to increase targeted traffic to your webpages include:
-create more webpages, with relevant, focused content -create more links to your webpages -list your website/s under relevant categories in more directories -set up a directory of relevant sites on your website and accept relevant reciprocal links -write relevant articles, with your site information in the 'resource box' at the end of each article, and submit them to article directories
Clickthroughs
Clickthroughs are the percentage of viewers who click on your Adsense ads. You can increase Clickthroughs by increasing the relevance of Adsense ads on your site, and by tweaking the format and placing of your ads.
Although you can't dictat which Adsense ads show on your site, you can influence the relevance of the ads by maintaining a tighrly focused website. If every page on your site focuses tightly on the site topic, its more likely that the Adsense ads will too. For example, if every page of your site is about fishing, and the word 'fishing' appears several times on every page, its likely that your Adsense ads will relate to fishing.
The best way to tweak your ad format and placement is to invest in an Adsense Tracker, and test, test, test! People who have done this tend to suggest that the best format is the large rectangle, with background and border the same color as the page behind it, so that the ad blends into the page. The best placement is towards the center or top left of the first screen of the page. Try these suggestions first, and then track and test, to be sure of what works best for your pages.
Effective CPM
Effective CPM is a measure of your average earnings, per thousand clicks. You can increase your Effective CPM by selecting topics that attract high bids from Adsense advertisers, and building pages and whole websites on higher paying topics.
Although Google doesn't release information on Adsense bids, you can get a good idea of the top paying topics by looking at information on Adwords bids, or, for that matter, bids on pay-per-click search engines like Overture. There are a number of keyword research tools available, both free and paid, that can help you find high paying topics.
The Formula
So now you have the basics of increasing your Adsense income. Its a deceptively simple formula:
-Build pages and websites on high paying topics for the best Effective CPM. -Format and place your Adsense ads for maximum Clickthroughs. -Promote your sites to drive targeted traffic to your Adsense webpages for maximum impressions.
Tips for your trade show booth staff to increase sales
Your trade show exhibit staff can make the difference between your trade show exhibit being successful or being an unproductive exercise. The Center for Exhibit Industry Research (CEIR) says that 80% of what visitors remember most about their visit to a trade show booth is their interaction with the exhibit staff. In fact, CEIR sites that 75% of the effectiveness of any trade show is traceable to the performance of the exhibit staff.
Although you can find almost any information today on a company’s website, trade shows are popular because, unlike the Internet, they give people a chance to talk face to face. Your trade show display staff can thus make the difference between trade show attendees having a positive experience or a negative one.
By employing well-rehearsed trade show booth people skills, your staff will be better able to ensure that every visitor to your trade show booth has a gratifying experience. And, by learning important people skills, your staff will generate better sales.
Visitors come to trade shows to learn what is new in their industry by attending continuing education sessions and by gathering information at trade show exhibits.
Your staff not only needs to have knowledge about your product or service but they
also need to be enthusiastic and know how to professionally and politely handle any situation that may arise. By being prepared, your staff can anticipate the questions they will be asked and thus be better able to manage conversations on the trade show floor. Being able to control the conversation will help your trade show staff in selling their products or services to the visitor.
According to Matt Hill, a trade show trainer and president of The Hill Group, in San Jose, California, in order to engage and qualify trade show booth visitors, your trade show staff needs to master the following people skills. How to:
1. Engage and Greet
By having eye contact, being friendly and approachable, asking opened ended question (one that does not have a yes or no answer, such as “What bought you to our booth today?”) your booth staff can break the ice and easily initiate a dialogue.
2. Ask qualifying questions to decide whether the visitor is qualified or a time waster
Learn what questions to ask to find out if the visitor has influence in buying your product, has a time frame that is acceptable to you, and has an adequate budget or financing available.
3. Either dismiss or present a product demonstration
To end the conversation and to disengage from your visitors, you can shake their hands, thank them for their time, communicate that you need to move on to someone waiting, and then turn away. This will politely signal that your conversation is over. It is called pattern interrupt. Since you are not a talk show host such as David Letterman or Jay Leno who rely on commercial breaks to end their guest ‘s appearance, you must learn pattern interrupt techniques to politely end your trade show booth conversation.
4. Generate a lead
After qualifying the visitor, you need to ask if they want to be contacted further. If they are a hot lead, they will want to be contacted either right away or within the next 30 days. Be sure to get the necessary contact information on the visitor and then follow up.
A favorite technique of Hill’s is teaching exhibit staffers how to work with groups. He cites that when you are presenting at your trade show booth and engaged in a one on one conversation and another person approaches, there are people skills you can use to open up your conversation to include an expanding audience. First, take a step back or to the side to make room for more people, ask your initial guest if it is acceptable to open up the conversation to others, and then bring those new visitors up to date on the conversation.
If you are not the right staff person to answer your visitor’s questions, Hill advises you to escort that visitor to a qualified staff person in your booth. If he/she is already involved in conversation, you can politely interrupt by asking if it is okay to join the conversation. If not, ask how long he/she plans to be. If the conversation will end in a minute or two, then you can wait with your visitor until your staff person is finished the conversation. Realize that a private conversation at a trade show booth can always be politely interrupted.
Hill has conducted trade show trainings for many companies for shows around the world and close by to home at the Henry J Kaiser Convention Center in Oakland, the Moscone Center in San Francisco, and the Convention Centers in Santa Clara and San Jose. He has trained Silicon Valley companies headquartered in Fremont, Hayward, Cupertino, Milpitas, Palo Alto, Santa Clara, Sunnyvale, San Jose and beyond to Sacramento and throughout Northern California.
He believes that people skills training for a specific show is essential for all the trade show booth staff. After an advanced formal training, a quick refresher before the show helps reinforce the people skills your staff will use over the course of the trade show so that every visitor to your trade show booth has a positive experience. Your sales will dramatically increase as a result.
Although you can find almost any information today on a company’s website, trade shows are popular because, unlike the Internet, they give people a chance to talk face to face. Your trade show display staff can thus make the difference between trade show attendees having a positive experience or a negative one.
By employing well-rehearsed trade show booth people skills, your staff will be better able to ensure that every visitor to your trade show booth has a gratifying experience. And, by learning important people skills, your staff will generate better sales.
Visitors come to trade shows to learn what is new in their industry by attending continuing education sessions and by gathering information at trade show exhibits.
Your staff not only needs to have knowledge about your product or service but they
also need to be enthusiastic and know how to professionally and politely handle any situation that may arise. By being prepared, your staff can anticipate the questions they will be asked and thus be better able to manage conversations on the trade show floor. Being able to control the conversation will help your trade show staff in selling their products or services to the visitor.
According to Matt Hill, a trade show trainer and president of The Hill Group, in San Jose, California, in order to engage and qualify trade show booth visitors, your trade show staff needs to master the following people skills. How to:
1. Engage and Greet
By having eye contact, being friendly and approachable, asking opened ended question (one that does not have a yes or no answer, such as “What bought you to our booth today?”) your booth staff can break the ice and easily initiate a dialogue.
2. Ask qualifying questions to decide whether the visitor is qualified or a time waster
Learn what questions to ask to find out if the visitor has influence in buying your product, has a time frame that is acceptable to you, and has an adequate budget or financing available.
3. Either dismiss or present a product demonstration
To end the conversation and to disengage from your visitors, you can shake their hands, thank them for their time, communicate that you need to move on to someone waiting, and then turn away. This will politely signal that your conversation is over. It is called pattern interrupt. Since you are not a talk show host such as David Letterman or Jay Leno who rely on commercial breaks to end their guest ‘s appearance, you must learn pattern interrupt techniques to politely end your trade show booth conversation.
4. Generate a lead
After qualifying the visitor, you need to ask if they want to be contacted further. If they are a hot lead, they will want to be contacted either right away or within the next 30 days. Be sure to get the necessary contact information on the visitor and then follow up.
A favorite technique of Hill’s is teaching exhibit staffers how to work with groups. He cites that when you are presenting at your trade show booth and engaged in a one on one conversation and another person approaches, there are people skills you can use to open up your conversation to include an expanding audience. First, take a step back or to the side to make room for more people, ask your initial guest if it is acceptable to open up the conversation to others, and then bring those new visitors up to date on the conversation.
If you are not the right staff person to answer your visitor’s questions, Hill advises you to escort that visitor to a qualified staff person in your booth. If he/she is already involved in conversation, you can politely interrupt by asking if it is okay to join the conversation. If not, ask how long he/she plans to be. If the conversation will end in a minute or two, then you can wait with your visitor until your staff person is finished the conversation. Realize that a private conversation at a trade show booth can always be politely interrupted.
Hill has conducted trade show trainings for many companies for shows around the world and close by to home at the Henry J Kaiser Convention Center in Oakland, the Moscone Center in San Francisco, and the Convention Centers in Santa Clara and San Jose. He has trained Silicon Valley companies headquartered in Fremont, Hayward, Cupertino, Milpitas, Palo Alto, Santa Clara, Sunnyvale, San Jose and beyond to Sacramento and throughout Northern California.
He believes that people skills training for a specific show is essential for all the trade show booth staff. After an advanced formal training, a quick refresher before the show helps reinforce the people skills your staff will use over the course of the trade show so that every visitor to your trade show booth has a positive experience. Your sales will dramatically increase as a result.
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