Safest course... Michelangelo
This is a genius from the past, and many of of us have never even heard this quote. Why?
When it comes to us, when need to have a personal discussion within ourselves when making purchases. The same discussion within our voices within, as if we were at the bar wanting one more drink, same as a married man or women gets an invitation from another, same as young man gets a thought to steal, same as business man gets a thought to be unethincal.
Trust yourself, and that small, quite voice that sounds like 50 miles away. If your not religious then follow the guidlines of what is Right and Wrong! Does it make sense to purchase that item on a credit line that has already a heavy balance?
See they trick you as a business and they have no default by law, but you do by making those purchases.
Ex: You have all heard of the 0% financing for some many months-- Granted sounds like a deal! Right?
CAN BE, IF YOU PAY IT OFF BEFORE THE TIME PERIOD ENDS.
(Why is that in caps) I have to disclose that it is important.
Many don't know that if you charge a 1500 dollar tv at 0% and then say you have 1 month before that expires you have a balance of only 100 dollars. Your next statement will get hit will the interest from the "ORGINAL" amount borrowed???? WHAT???
Thats right the interest of about 20 or 30% is added on your next bill based on 1500 dollars not what you have left.
I used to work for a company that did those finances 0% things. We had a list every month that all the folks in the office could call on and solicite loans to refinance that amount.
Here is an example of the call: "Hello this is jason with XYZ financing, I see that you have a 0% financing on that big screen that is set to expire in exactly 32 days with a balance of 720.00, would you be interested in stopping in today to look at possibilities of refinancing that and lowering your interest?
NO, I have a 700 fico score quit calling- customer
Well, then I suggest you do a balance transfer- Sales Man
WHY- Well then you will have an interest bill of X amount of dollars because it is based on the ORGINAL amount not what is left and customer interest on that 2500 dollar tv, and 1000 dollar surround sound can be pretty pricy. Are you going to pay that off in 32 days.
No, they have cut my overtime.
Great- when can you come in for a review, and bring you paystubs and drivers license...
Yea I quit exactly 1 year after that..
I had faith in myself, I was scared but I knew it was a safe bet...
Believe in yourself,
I know that once this gets up and running they will be comming, I'm ready because not doing business ethically, has got the current economy in the problems that it is in.
Too be continued...
"Credit Professor" aka credit crunching, cigar smoking, crazy man
Tuesday, March 3, 2009
Thursday, February 26, 2009
Take the Time, To Realize
THE TRUTH!
Serisouly thou, take time to review your current financial situation. Some people act as if this is very hard to do, and that they have no time to access thier own "Financial Statements"
The redneck- spends more time on what truck is the right fit for him.
The sportfanic- spends more time figuring out which magizine is best for fantasy sports
The gangsta- spends more time trying to look expensive and what rims to buy
The broke business man- spends more time trying to look successful
The single girl- spends more time trying to find the right outfit for an night out
The rich W2 man aka employee - spends more time trying to find out what toy he can buy
I HAVE NOTHING AGIANST ANY OF THEM AND EXCEPT FOR THE LADY I HAVE BEEN ALL OF THEM AT ONE TIME OR ANOTHER
I'm just hoping somehow you can relate.
Almost all of us go to work day in and day out get paid and blow it. Some blow it before it comes in.
I just want you to realize where you stand, and where you want to go.
If you don't know that, then every step along the way will be tuff. It might not be this month or next but it will get tuff.
Some people I meet with don't want to do this because they will see the TRUTH and sometimes that hurts. I can't say it enough its better to get a gut check now, Than When Its TOO LATE!
Email me with questions,
The "Credit Professor" AKA Credit Crunching, Cigar Smoking, Crazy Man!
Serisouly thou, take time to review your current financial situation. Some people act as if this is very hard to do, and that they have no time to access thier own "Financial Statements"
The redneck- spends more time on what truck is the right fit for him.
The sportfanic- spends more time figuring out which magizine is best for fantasy sports
The gangsta- spends more time trying to look expensive and what rims to buy
The broke business man- spends more time trying to look successful
The single girl- spends more time trying to find the right outfit for an night out
The rich W2 man aka employee - spends more time trying to find out what toy he can buy
I HAVE NOTHING AGIANST ANY OF THEM AND EXCEPT FOR THE LADY I HAVE BEEN ALL OF THEM AT ONE TIME OR ANOTHER
I'm just hoping somehow you can relate.
Almost all of us go to work day in and day out get paid and blow it. Some blow it before it comes in.
I just want you to realize where you stand, and where you want to go.
If you don't know that, then every step along the way will be tuff. It might not be this month or next but it will get tuff.
Some people I meet with don't want to do this because they will see the TRUTH and sometimes that hurts. I can't say it enough its better to get a gut check now, Than When Its TOO LATE!
Email me with questions,
The "Credit Professor" AKA Credit Crunching, Cigar Smoking, Crazy Man!
Friday, January 30, 2009
10 quick things for 2009 for your debt.
1. Keeping up with the Jones's
Average American with at least 1 card has roughly $9200 in Credit Card Debt (Cardweb.com) average rate is in mid to high teen's.
Don't try to keep up with the norm. as far as materalistic things!
Build a plan, then work the plan month in and month out. Don't worry about what your friends, family and neighboors think. If your financing the fancy stuff, it looks good the first month then after you make a couple of payments its not so nice.
2. Some debt if leveraged it Good
Don’t borrow more than you can handle, shop around for rates. College or Leveraged loans for your house is great but remember your house is a Liability (takes money out of your pocket) There is a huge Catch 22 for all my young readers and folks out their trying to establish credit- You must play the game of using debt to your advantage. Start small with low limits and if you are young and filed BK in the past your rate will be probably at a maximum. Make your payments and stay on top of it.
3. Take control of your monthly spending
About 60-70% of you out there spend your money with out even thinking about your monthly obligations. Take Control In my course this is revealed in the “Credit Landmine Prevention Audit” and there is samples of all everyday people.
If you are just getting points from the blog, start simple:1. Go a whole day without spending any money2. Go a week without charging anything on your credit cards3. Pack your lunch and try not to purchase any fast food
Repeat and Repeat- See where you are at, towards the end of the month
4. Bad Debt
Don’t default to your credit cards to purchase items you consume monthly. If you have reward cards they trap you into thinking that you have to do this. They can give you 1-3% a month cash back if you purchase all “Consumable items” Why would they do this? So you can trip in your monthly habits and not pay the card off entirely and BOOM! Interest and Fee’s they win NOT YOU.
5. Drip Effect
6. I pay min. on my cards and my credit is outstanding
Good for you, but the moment you miss a payment your creditors can take a look at your overall credit and you can drop from 700 to 600 in a matter of a month.
7. Borrow from Home and 401K
A lot of folks out their think they can borrow against their home and 401k for college and to consolidate bills.
College – Start a 529 plan as soon as you can. It is an investment vehicle solely for your children’s college. You can have monthly amounts that you can contribute straight out of your bank account for as little as $50.00 a month.
8. Emergency Funds
9. Mortgage
10. Buy my course
Plan and simple purchase so you can have all the goods and montly newsletter that beats the socks off this blog.
Average American with at least 1 card has roughly $9200 in Credit Card Debt (Cardweb.com) average rate is in mid to high teen's.
Don't try to keep up with the norm. as far as materalistic things!
Build a plan, then work the plan month in and month out. Don't worry about what your friends, family and neighboors think. If your financing the fancy stuff, it looks good the first month then after you make a couple of payments its not so nice.
2. Some debt if leveraged it Good
Don’t borrow more than you can handle, shop around for rates. College or Leveraged loans for your house is great but remember your house is a Liability (takes money out of your pocket) There is a huge Catch 22 for all my young readers and folks out their trying to establish credit- You must play the game of using debt to your advantage. Start small with low limits and if you are young and filed BK in the past your rate will be probably at a maximum. Make your payments and stay on top of it.
3. Take control of your monthly spending
About 60-70% of you out there spend your money with out even thinking about your monthly obligations. Take Control In my course this is revealed in the “Credit Landmine Prevention Audit” and there is samples of all everyday people.
If you are just getting points from the blog, start simple:1. Go a whole day without spending any money2. Go a week without charging anything on your credit cards3. Pack your lunch and try not to purchase any fast food
Repeat and Repeat- See where you are at, towards the end of the month
4. Bad Debt
Don’t default to your credit cards to purchase items you consume monthly. If you have reward cards they trap you into thinking that you have to do this. They can give you 1-3% a month cash back if you purchase all “Consumable items” Why would they do this? So you can trip in your monthly habits and not pay the card off entirely and BOOM! Interest and Fee’s they win NOT YOU.
5. Drip Effect
Covered in my book and way to long for a brief summary. Things to think about, if you pay double all your minimals on your cards- Stop- Pay minimal on all except the one with the lowest balance owed and pay extra on that one. For example:
Min. are
$25.00, $25.00, and $25.00 Totalling $75.00 You pay $50.00, $50.00 and $100.00 totalling $200.00 budgeted in your monthly - I suggest you pay $25.00, $25.00 and $150.00 on the smallest balance. In 6 to 8 months you'll see a big hit.
6. I pay min. on my cards and my credit is outstanding
Good for you, but the moment you miss a payment your creditors can take a look at your overall credit and you can drop from 700 to 600 in a matter of a month.
7. Borrow from Home and 401K
A lot of folks out their think they can borrow against their home and 401k for college and to consolidate bills.
College – Start a 529 plan as soon as you can. It is an investment vehicle solely for your children’s college. You can have monthly amounts that you can contribute straight out of your bank account for as little as $50.00 a month.
8. Emergency Funds
In your monthly financial statement pay all your bills and try the best to save up 6 months of your bills and just put into a liquid savings account. It is tough to start but if you can put back at least $100.00 a month and just get it started.
9. Mortgage
Buy smart, and a mentor always told me "If your not embarassed by your offer, its not low enough"
10. Buy my course
Plan and simple purchase so you can have all the goods and montly newsletter that beats the socks off this blog.
Tuesday, January 27, 2009
Website Coming Soon!!!!
Thats Right, check back to see the link for my Credit Resurrecting System.
Over 789.00 of free gifts for a limited time.
Any one who visits from now until my launch, email me @ thecreditprofessor@gmail.com
Subject: Questions about my Credit 09.
Thanks,
The "Credit Professor" aka Credit Crunching, Cigar Smoking, Crazy Man.
Over 789.00 of free gifts for a limited time.
Any one who visits from now until my launch, email me @ thecreditprofessor@gmail.com
Subject: Questions about my Credit 09.
Thanks,
The "Credit Professor" aka Credit Crunching, Cigar Smoking, Crazy Man.
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