Finance Spirit

Archive for the ‘Online loan’ Category

The global financial crisis has put many of us out of work and an even greater number of people in financial difficulty. One of the major reasons for this occurring was the unethical business practices of the bankers in power, those who make loans and those who make the laws which determine how loans work. Loans with ridiculous fees and interest rates have ensured they cannot possibly be paid back, and this has meant a large number of bad debt and toxic assets have come about. You might be in need of debt relief if you have come under such a problem, and while a lawyer can give you some level of assistance, it is better to understand the way the loans work first before committing yourself to something you may not be able to pay.

One of the unethical business practices undertaken by bankers has been the offer of payday loans. These loans are designed to be quite small, and just to put a person who is under financial stress off for a week’s time. While these are illegal in countries like Australia, the lax laws in America mean that these kinds of loans can still be offered.

What is wrong with a payday loan? If they give those in need some momentary relief, is not that a good thing? Well, yes, but the problem is that these loans have incredibly high amounts of fees and interest if they are not paid on time. If a person has taken out a payday loan and cannot pay it back within a fortnight, they will be trapped within a cycle of debt that will be seriously difficult to get out of.

One of the worst things about payday loans is that they target those who are already most vulnerable. Someone who is making payments easily on all of their loans will have no need for a payday loan. These loans are usually only required by individuals who need to pay off other loans. They are a loan on top of another loan. Obviously, if neither of these loans can be paid then the individual who takes them out will find themselves in serious trouble.

It can be easy to blame the individual when it comes to these sorts of issues, but laws should not allow anyone to get themselves into such a difficult situation in the first place. In today’s society so many people find themselves in desperate situations as they have to work an incredible amount in order to just get by, and it is time real action was taken to start fixing these problems.

My mother used to often tell me: “It’s an ill wind that blows no good.” Unfortunately this economic meltdown will be nothing more than an “ill wind” that has left many as devastated as the Midwestern farmer in the “dust bowl” days if they fail to learn the critical lessons it is trying to teach. But before you pack up your family and belongings and head to California in defeat, like some image from The Grapes of Wrath, read on. Here are five important lessons you can take away from this recession to make your life better and more prosperous in the future:

1) Get Out of Debt : – many people were needlessly hurt by this recession because they had too much debt when the economy turned bad. Debt is easy to acquire but hard to pay off and it can be a heavy weight around your neck when money gets tight. When you are barely treading water the extra weight of debt can drown you. So if you want to avoid putting yourself in such a vulnerable position make a commitment to get out and stay out of debt now. Your financial needs can be greatly reduced when you are debt free and that means you can more easily survive temporary cutbacks and lay offs.

2) Have an Emergency Fund :- one of the biggest reasons people don’t build more savings is because they are carrying too much debt and have no money to save. Once you are out of debt, build an emergency fund equal to 6 to 9 months of living expenses. That way you will be prepared when the next financial crisis occurs (and it will occur.) If recent history has shown us anything about our economy it is that cycles of growth and recession are continuous. Every period of economic growth is followed by recession and if you are debt free and have sufficient savings you can weather the storm. So get out of debt and then save, save, save.

3) Invest in Yourself : – the stock market can be risky business and if you have money in a 401k, or any other qualified plan, you have seen firsthand just how risky it can be. Before you go throwing darts on Wall Street why not take some time (and your money) and invest in something you have more control over…yourself. Benjamin Franklin once said: “Invest the coins from your purse into your mind and your mind will fill your purse with coins.” A small investment in your financial education and skills can pay a huge dividend in income.

4) Diversify : – If you want to insulate yourself from the devastation many people experienced when they lost their jobs you need to diversify your income streams. If all your income is from one source, what will happen when that income source dries up? Being totally dependent on one source of income is dangerous at best and this economy has shown just how vulnerable an income source can be. While I am writing this, General Motors and Chrysler are dropping their dealership contracts with thousands of dealers across the country. Some of these dealers have been with them for decades and never imagined that income stream would be shut off. But it has, and it has left not only the dealers but their employees as well hanging out to dry. It wouldn’t be so hard to accept if they had diversified income sources and weren’t solely dependent on GM.

5) Reclaim the Entrepreneurial Spirit : – in the nineteenth century the majority of Americans were self employed (or entrepreneurs). Whether they were farmers, ranchers, sheep herders, or trappers their security was based on their own hard work and wits. It was this spirit that built this country. However, in the twentieth century the industrial revolution brought big business and people moved in to towns where they took jobs that promised “security.” The concept was simple, work for a large company and retire with a pension. That security was real, for a while, but it is an illusion today. Large companies that were once considered too big to fail are dropping like flies. The world and the economy have changed and you need to change with it if you want to survive.

Money is energy. Money is an exchange. Money makes the world go round. Money, Money, Money, Money! Money is possibly the most powerful metaphor of our planet. How do you feel when you are free? Receive the keys to wealth, and discover the soulful laws where money becomes an auspicious bird that cannot wait to perch on your shoulder to bless you, again, and again!

1). Know Yourself

What do “poor” and “wealthy” mean to you? What programs were you raised on? How did your parents handle money? Do you think that you are a good person if you are rich or if you are poor? Do you give your power away to wealthy people? Do you envy or resent them? How do you treat wealthy people? How do you expect to be treated by them? How do you speak of them? How do you speak of poor people?

2). Beware of Projections and other Personifications

[The love of] Money is the root of all evil… Money is hard to come by… Money keeps on eluding me… Money does not come easy to me… Money does not like me… Money does not grow on trees… Ask yourself: what is money? What is it not? Money is only what I think it is. Similarly for time. Time is only what I think it is. In that sense, time is money!

3). Learn To Speak Its Divine Language

Have you noticed how spiritual is the vocabulary that describes money? In God, we trust! Change. Save. Profit. Worth. Value. Asset. Cash Flow. Liquid. Appreciation. Angel Investor. Equity… Notice the balance (sheet). Like breathing in: Income. Breathing out: Expenses. In: Assets. Out: Liabilities.

4). Create Space for Something to Change

Gratefulness is the key to open the Gates of Heaven (Having). When you are grateful, your attention is on what you have, not on what you lack. When you are grateful, you love it all. And then loving what you do brings forth doing what you love.

5). Discern “Expensive” and “Expansive”

About not purchasing that lovely condo, or not working with a coach, it is never about not having the money, it is about not having the truth to do something (i.e. not really wanting it, or feeling deserving of it) If you really wanted to go to Europe, you would find a way. Become honest enough, big enough, expansive enough in your consciousness to contain the condo, or the coaching program, or the trip to Europe…

6). Dare to Be a Visionary

And claim your financial goals: I read somewhere that out of the Yale class of 1953, 3% had written down their financial goals for after college. When they convened 20 years later, that 3% controlled more combined net worth than the other 97% combined.

7). Love Unconditionally

If you wish to partner with money, give, tithe, let it go, and set it free. Did I say “FREE?” Because all you have is truly all you need. You have to have the courage to give what you want to get. If it is yours, it will come back. If it does not, you never really had it in the first place. Furthermore, since we are all one, giving to another is really giving to yourself.

8). Have Fun & Play

“Life is a game…” When millionaires lose all their money, they do not worry, as they know they can and will enjoy making it again. Relax; money is only a game.

9). Sell What Benefits Others

Ponder this: would you be happy purchasing something that is revealed to be worthless? Ethical business practices are simply to receive money for a service or a product only if the buyer deems it valuable. Ex. Price of art. Price of a house. Price of a candy bar. And should someone be unhappy with your product or service, promptly give a refund.

10). Adopt a Pilgrim’s Mind

The magic of not knowing is what makes the dream possible. Believe in something greater than yourself! That attitude will pave the road with golden opportunities. Your only work is to recognize each of them, greet them as your friend, and then act on them: that is rich!