Category: Payday Loans

September 20th, 2017 by Suzi Elton

In the past, our grandparents prided themselves of living being completely debt free. Since the creation of the Federal Reserve, banks have expanded as the Fed has pushed money into the economy to allow them to loan it to American citizens. As money got tighter, the Federal Reserve would push out more. Banks now had the money to loan to the American people so every person could own a home and an automobile. Initially the only debt that most people would have would be that of a mortgage and possibly a car loan. People were still staying virtually debt-free until plastic was created. Prior to credit cards, the stores had layaway plans where a person could come in and put a deposit on an item to hold it. They would come in and make payments on the item until it was paid in full and at that time take it home. I remember as a child my family getting their first TV on layaway. It was an exciting day when the final payment was made and we were the proud owners of a television set. Then in the 1970s credit cards were pushed into American culture and the idea of why wait when you could charge it and have it now. This is when the idea of staying debt-free was blown to pieces.

When the economy almost imploded in 2007, many Americans woke up to the facts of what we have become financially. People like Dave Ramsey came out and spoke strongly of how Americans should get out of debt and be beholden to nobody. Now, Americans are buried under a mountain of debt and have no idea how to get out without filing for bankruptcy. It seems that becoming debt-free is a thing of the past and no longer possible. Well, that is not necessarily true and people can eliminate their debt but for some it will be a larger task.

For someone that has a large amount of unsecured debt, filing Chapter 7 bankruptcy might just be what the doctor ordered. In a Chapter 7, all unsecured debts can be included in the bankruptcy discharge including, credit cards, personal loans, payday loans and medical bills. This is huge for someone who overindulged on their credit cards over the last 10 years. Creditors were quick to give everyone and anyone credit prior to the collapse of 2007. It was no surprise to hear of people having $100,000 limits on their credit cards. It didn’t take a rocket scientist to figure out what would happen to these people. For these individuals, a quick trip to a bankruptcy attorney could start the process and turn their life around.

Posted in finance, Payday Loans, Uncategorized

September 20th, 2017 by Suzi Elton

Have you saved any money for emergencies? How much have you saved in case you were laid off? Do you compile credit card debt instead of using your savings for emergencies? Do you have a problem with saving money vs. spending it? Have you tried it on your own and not been successful? Do you know there must be a better way?

Do you find it frustrating when you see other people having financial success? Wouldn’t you like to be one of those who don’t struggle and experience tremendous financial success? Don’t struggle any longer. Here are your 8 tips to build a solid foundation of savings for your future success.

    1. Write every purchase and deposit in your check register when it occurs. Be prompt. This way your checkbook and funds available balance is always current and accurate. You cannot overspend and you are aware of your balance. You won’t ruin your budget because it is current.


    1. Balance your checkbook weekly with your online bank register. Correct any errors in your check register such as missed entries. Add a check mark next to the balance amount on the date so you know where you were most recently accurate. Check the entries that have posted and keep this current.


    1. Use your credit cards if you need to and only if you are able to easily pay the complete balance by the end of the month or statement due date. You won’t incur any late fees or interest fees if you completely pay the balance early and on time.


    1. Withdraw $200 every week with an automatic transfer to a money market account – and do not use those funds unless there is an emergency. Act as though you were making a car payment and that money is gone and unavailable. Be disciplined and strong here. This is where you are paying yourself over $10,000 per year ($10,400 specifically).


    1. You can increase this incrementally by adding as little as another $50 per transfer adding another $2,600 per year for a total annual savings of $13,000 per year. This is your gift to you. Impressive!


    1. Next, deduct all of your regular expenses for this pay period right away in your check register and mark the actual date this will occur for each item.


    1. You are predicting your future budget here. This will give you an accurate financial picture of your available balance for the pay period and incidental expenses. We often imagine we have more available than the reality exposes.


  1. Watch your money market balance grow each week and enjoy the satisfaction in knowing that you are a saver – not a spender. It doesn’t take any discipline at all to spend money, and it takes a great deal of strength to save it.

Be powerful. Pay yourself first – over $10,000 per year and build your solid foundation of savings for your future success. You can do it. Be strong.

Posted in Budgeting, bussiness, finance, Payday Loans

September 20th, 2017 by Suzi Elton

n Part I of this article, we looked at “WHAT IS THE PSYCHOLOGY OF WEALTH?”

With the first 19 of the 48 laws of wealth, you learnt to develop the psychology to achieve the mind-set of a wealthy and successful person and attract great wealth into your life:


This section of the laws of wealth is designed to help you plan for wealth. Wealthy and successful people leave nothing to chance, they plan meticulously. So must you.

Law 1: Define what wealth means to you: how do you perceive wealth?

Know your own representation of wealth. Do you want enough money banked for 5, 10, or 30 years? Property investments, for example, that grow by £x annually? Passive income from a business or investment? A specific salary? Pen it down as a guide to measure your progress.

Law 2: Money for what?!: Know exactly what you want money for.

What do you want money and wealth for? Material things? Charitable purposes? A revolution? Write this also down and use it as a goal, a checklist, a reminder, a reference and as a tool by which to measure your progress! And you can only do that with a yardstick.

Law 3: Ecology: make money in a clean way and avoid dirty tricks.

Make money legally because methods detrimental to people or the environment create negative energy. So avoid what seems like the shortcut or the easy option to getting wealth. Work rather to add value to people’s lives guided by safety, fairness, value and legality.

Law 4: See your journey before you: Where are you now and where do you want to be?

What you focus most on is what you attract into your life. If you want to be successful in any venture, see (rather, visualize) your journey before you. The steps to doing this are:

1. Where are you now?

What is your exact financial position to the last penny? Your monthly expenditures? Your budgets? Your cash flow? Your assets? Your liabilities (debt)? This total net worth will be your marker for your wealth and your progress.

2. Where do you want to be?

Do you want to become a millionaire? Have just financial independence? To be able to measure your success, quantify your end goal. So specify timescales, numbers and figures. The more real and tangible and specific you make it, the more the possibility of attracting it.

3. Have a plan

Right now what is your plan? To set up your own business? To invest in property? Only if you look for them will opportunities come to you. So charting your path to wealth will sharpen your awareness to the tools, the people and the challenges you must face succeed.

Law 5: Be Realistic: About what you can achieve and when you can achieve it.

Believe in your dreams but be realistic about your goals and your expectations of wealth. Wealth will come to you, but it will demand lots of patience, hard work, working longer hours and smarter than before. So set yourself realizable targets and fix believable timescales.

Law 6: Your wealth strategy: The road map that will lead you to money and wealth.

Don’t be a person without direction. Follow a strategy and update it when necessary so as to make it.

The first is understanding exactly where you are now:

1. Know how much you earn.

The crux of this is that don’t spend more than you earn.

2. Know really exactly how much you spend.

Determine exactly how much you spend on every area of your life. Include unforeseen expenses in your budget and keep it in another account. And always pay off your debts first.

3. Know your attitude to risk.

How much money can you comfortably ‘risk’ or speculate in your investment strategy?

4. Know your potential avenues to earn.

How many different ways can you think of to earn income, especially passive income?

5. Cash flow and capital growth.

Your cash flow will come from a salary or a dividend certain businesses, careers and investments will bring you. But assets such as property will give you capital growth. Both must be part of your strategy for great wealth.

The second step of your wealth strategy is to set a goal that you can review. As your income increases, raise the bottom 3 columns above but not column 2.

Adjust the figures as necessary based on monthly income:

Earned income: £1,500 [after tax and N.I] Total living allowance [spend including living, debt and contingency]: £975 [65%] Tithing [giving back]: £75 [5%] Total saved and never touched: £150 [10%] Total invested: £300 [20%]

Attitude to risk: 20% [total invested]. Although fairly safe, you can invest more if you are young, ambitious, and single. But if you are a little older and need stability, have children and commitments then add more of your earnings to your ‘total saved’ column.

Now decide where to donate your tithing, what high interest account to deposit your 10% in and what to invest your 20% in.

If you want to invest in property-recommended-hold your investment until it becomes large enough for that.

Develop your strategy as the years and wealth increase. Don’t change it at will. Give it the opportunity to work!

Review your strategy and your finances each year. Open and update it and do a financial check-up to see where you are. Compare this year’s strategy to last year’s to ensure you are making progress in the right direction.

Law 7: Worst case scenario: things more often than not turn out not as anticipated.

It is a fact of business and life that things will not turn out just right. Therefore work the worst case scenario into every business proposition or plan, investment decision or forecast: what if recession struck your business? What if you suddenly fell sick?

Your business plan forecasts profit from year 3; what are your plans if it doesn’t happen until 2 years later?

Work out your sensitivity analysis [projections of earnings/turnover] on low figures. Imagine what happens if you planned to turn over £1m in year 1 but actually get £50,000?

If you obtain an affiliate network website supposed to make you money in 1 month on autopilot, make it 2 months. Your affiliates may not work as hard as you and even careless.

If making an investment, especially over the long-term, factor in a good contingency to cover unexpected costs. So if you need £10,000 for marketing, budget £15,000 or best, £20,000.

Eagerly watch over your streams of revenue. That way you can back out of any threatening to dry up and move your investment elsewhere where it is safe.

Law 8: Know your exit strategy: when to back out of a business before it sinks you.

Business is full of “force majeure” (act of God). So go into any investment with a clear idea of how you can back out and liquidate efficiently and cost effectively when need be. What it all boils down to is diligence, planning, foresight. Don’t ignore your contingencies.

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Building your very own website is SIMPLE within Wealthy Affiliate. The process takes less than 30 seconds to build a beautiful looking, revenue ready website. This is going to be the foundation of your business and what will ultimately lead to a successful venture.
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Your goal before you try to make money with any website is to focus on getting actual people to that website. Without people, you have no business so this is a critical stage.
Earn Revenue
Once you have an audience (traffic), you can promote products and services through special programs called “affiliate programs” which are free to join. These allow you to promote pretty much anything you can imagine without having to own or create the product yourself.

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Posted in Budgeting, Credit Counseling, Payday Loans, Uncategorized

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