Credit for Paycheck

According to Robert Kiyosaki, leverage, in its simplest terms, is basically “doing more with less”.  It could be in the form of leveraging other people’s money like acquiring a loan for your house. It could be leveraging other people’s time by hiring employees for your business.  Or it could be leveraging technology like putting up an online store to reach out to more people, 24 hours a day, 7 days a week.

Things to note when applying leverage:

Investing for capital gains vs investing for cashflow

Some people invest only for capital gains.  Their motto is “buy low, sell high”.  When you purchase a house for PHP 1 Million in the hope that you can sell it for PHP 5 Million after a few years, you are investing for capital gains.

Others invest only for cash flow.  They want to receive a steady fixed amount of income every month.  When you invest in Retail Treasury Bonds and receive a regular interest earnings, or invest in stocks that give dividends, you are investing for cashflow.

To invest for both capital gains and cashflow, you need to increase your financial intelligence so you can control the investment and increase its value at the same time provide a steady stream of income for you.

More tips on taking the first step to apply leverage

Do you know the reason why your loan application is being barred from the benefits of a loan? Then, the answer is because you might be having bad credit. Bad credit is regarded as risk by lenders because they fear that borrowers might not repay the borrowed amount and leave them in an endangered situation. But now, such bitter days are over for bad creditors. You can now walk into the finance market and approve loan under the scheme of bad credit secured loans. The only concern in this scheme is collateral. Bad Credit Secured Loans brings a host of benefits which are bestowed to bad credit category. Here, the bad creditor gets an opportunity to borrow large amount rising from £5,000 up to £75,000 with a prolong repayment term of 10-25 years. The bad creditors can invest the funds and actively employ the amounts to disperse and consolidate the multiple bad credits. In this loan plan, lenders provide flexibility to borrow money if collateral carries higher market value. And the usual percentage that you will be offered as loan is 125% of the property value in this scheme.

In a bad credit situation, one always seeks for low and reasonable interest rates. And to your astonishment, secured bad credit personal loans offer this benefit. Interest rates can be procured with the assistance of the quotes provided by the banks, financial institutions and other sources. In the quotes, you can trace every detail concerning to bad credit secured loans. Quotes are indiscriminatingly provided and can be collected through online. Taking the aid of quotes is indeed effective and advantageous because you can figure out the monthly instalments that you will be obligated to lenders. For more competitive rates collect and compare them minutely.

The returns of bad credit secured loans are rewarding. In a single loan and cost, you can actively support your credit condition and consolidate the miscellaneous bad credit disputes. Bad credit issues like CCJs, defaults, arrears, late payments, bankruptcy and such will no more create hindrance in your financial matter. This indicates that you can improve your bad credit condition to a better position and also can subscribe future financial aid when necessary in the future.

Bad credit secured loans are for all category of persons. Salaried, self employed, housewife, venture owners correspondingly can borrow the benediction of this loan under the same process and criterion. So, by considering this loan plan they can procure the necessary aid without any stress.

From the above hot discussions it became crystal clear that, collateral that you intend to place for bad credit secured loans should carry market value. And the readily accepted collateral are land, estate, commercial and residential property, house, car etc. Bad credit secured loans provide a unique rider to the customers. And it is that they need not have to move house despite used as collateral. Moreover, these loans do not give stress much on the credit checks and thus you can easily obtain the required amount.

Bad credit secured loans have captured the loan market within a short time because people are deriving satisfactory results. This loan scheme can be looked as an opportunity to better your credit score. If you repay the amount at stipulated date in full is what gradually change your credit report.

Facing bad credit? This tag won’t stop you from applying and getting approved for a loan. Yes, now even bad creditors can entail funds for their requirements by taking bad credit loans.Borrowers with FICO scores below 580 and bad credit problems like CCJs, IVA, arrears, defaults, late payments and bankruptcy constitute bad creditors. With bad credit loans now they can easily entail funds.Bad credit loans are of two types: secured and unsecured. Secured bad credit loans can be availed by placing security against the loan amount. You can place anything like car, home, stock and valuable documents. The loan amount varies from £5000-£75000 and have longer repayment term of 5-25 years. Those borrowers who can not pledge anything can entail unsecured bad credit loans. They offer a loan amount ranging form £1000-£25000. The repayment term is 1-10 years. Borrowers can choose an amount and term depending on their requirements and repaying potential.Before approving your loan amount creditors verify and analyze your repaying ability, financial conditions, annual income and credit history. On this basis your loan amount is approved.Bad credit loans carry slightly higher interest rates because of the lending risk involved. The creditors consider bad credit borrowers as an increased risk as they may defer payments due to insufficiency or other reasons.You can improve your adverse credit history. By making regular and timely payments you will be able to improve your scores. The improved scores will make you eligible for conventional loans at lower rates in future.You can easily apply for bad credit loans from banks, other financial institutions and online as well. Applying online is simple and will save your precious time as well. Also you can easily find a lower rate deal having flexible terms with little research. All this can be done just sitting at home. Just fill a simple form and get started right away!Bad credit loans are a boon for bad creditors. The funds can be used for meeting personal and professional needs. You may use the amount for educational purpose, vacation, debt consolidation and various other purposes as well.

Increase Your Financial IQ Book Review – Part 1: Making More Money

The book starts by asking the fundamental question:

“Does money make you rich?”

Take a moment to answer that question.

Do you think money will make you rich?  Do you think winning millions of dollars from lottery will make you rich?  How about having a high-paying job from a lucrative profession like doctors, or lawyers, or IT professionals?  Does having a lot of money make you rich?

Many people have heard stories how instant millionaires lost their millions after a few years. Or how someone who was once rich and famous had his house foreclosed.  Or how a high-paying manager begged for his job back because he can no longer afford the lifestyle that he once had.

If not money, what then makes you rich?  According to Robert Kiyosaki,

“…it is not real-estate, stocks, mutual funds, businesses, or money that make you rich.  It is information, knowledge, wisdom, and know-how, a.k.a. financial intelligence, that makes one wealthy.”

What is Financial Intelligence?

Robert Kiyosaki describes Financial intelligence as that part of our mental intelligence we use to solve our financial problems. Financial IQ, on the other hand, is the measure of that intelligence.

What money problems do you have?  Are you having the problem of “not having enough money”? Are you

While the rich do not have these problems, they too have their own money problems – “too much money”.  Some of these are

Which problems would you rather have?

The 5 basic Financial IQs

According to Robert Kiyosaki, you need to learn the 5 basic Financial IQs to solve your money problems.  These are:

Financial IQ #1: Making more money

How do you make more money?  The key according to Robert Kiyosaki is to “solve problems”.  People will gladly pay you money if you solve their problems.  I know I’ll be more than happy to pay you money if you can fix my broken LCD TV at a reasonable price. Would you gladly pay your doctor if they solve your ailing stomach? Would you pay your financial advisor if they can make you more money than what you pay them?  Or how about paying your “star” employees “millions” whenever they bring you “billions” in income?

Solve people’s problems and make more money.  As the famous quote from Zig Ziglar says

You can have everything in life you want, if you will just help enough other people get what they want.

Which problems do you want to solve?

Which problems do you want to solve?

Do you want to solve the problem of “hunger” by providing quality meals at an affordable price.  That’s what a lot of food businesses are doing.  Or do you want to solve the problem of “not having enough time to eat”.  That’s what the fast and “instant” food delivery businesses are trying to solve.

What are you naturally good at? Perhaps you can use any of your skills to solve other people’s problems.

Are you good in math?  Be a great financial analyst or an accountant and help people and businesses solve their financial or tax problems.

Do you like speaking to people?  Become a powerful speaker.  Share your message by leveraging your highly sought after skill of public speaking.  Inspire people to take action and solve their problem of a dull and boring life.

Do you love making great movies?  Learn to be a great director or a movie producer.  People will pay you to entertain them because you are solving their problem of “not having fun”.”

Solving problems is a process

The key according to Robert Kiyosaki is realizing the fact that problems will never go away.  After you solve a problem, another problem will come up.  Only in this process of solving problems one after the other will you gain financial intelligence.

You have to go through the process of solving whatever money problems you are facing right now.  Don’t run from it.  Face it head on.  Use your mind to think of ways on how to solve your money problem.  As Robert Kiyosaki’s Rich Dad says,

“You can quit when you win, but never quite because you’re losing.“

The reason instant millionaires end up poor after winning the lottery is because they want only the money but not the process of learning how to build their wealth.  This is the same thing as people wanting to get paid more than the value they are providing.  Their greed is making decisions for them.  Some people even claim that “greed” has caused the current financial crisis that we are in right now.

The other side of the coin is also dangerous – fear.  Don’t let fear hold you back.  Enjoy the process of learning.  Feel the fear and face it head on. This is the same reason why employees would rather gladly receive the small steady paycheck than take a chance at building their own fortune.  Take a leap.  Live out your dreams.  As Hellen Keller says,

“Life is either a daring adventure or nothing.”

Rich Money Habits Review Notes:

Once you have learned to solve problems and earn some money, the next thing you need to do is to protect that money from what Robert Kiyosaki calls “financial predators”.  Real world predators do not always look the part. Sometimes, they are ordinary people with well-meaning intentions.  Their job is to “legally” take money from your pocket…and your job is to “legally” have them take as little as possible.

According to the book, there are 7 financial predators you need to protect your money from.  They are:

Rich Money Habits Review Notes:

After learning to make more money and finding out ways to protect your money, you next need to learn how to budget your money for maximum utilization.

According to the book, a budget is a plan to coordinate your most important resources (such as money and time) and expenditures.  There are 2 kinds of budgets:

The reason most people are poor is because all their lives, all they’ve known is not having enough money, hence, they only have a plan for “budget deficit”.   They have never experienced having more money than they could ever expect to spend.  They think only lottery winners, corrupt politicians, or greedy businessmen can have a “budget surplus”.   The key to having a budget surplus is realizing that it is possible for you to have it.

There are 2 ways to generate a budget surplus:

Both strategies will tip the equation to your favor such that your income will be greater than your expenses and you create that extra cash a.k.a. “budget surplus”.

Most people and businesses only know how to cut expenses, especially in these times of financial uncertainty.  But you can only do so much in terms of cutting expenses without sacrificing your mental, emotional and physical health.  You don’t need to starve yourself to create a budget surplus. If you apply Financial IQ # 1 – make more money, you can stretch the other side of the equation and achieve the same thing.  The same applies to business. A business without sales is NOT a business. So aside from minimizing the costs of your business, you also need to learn to sell more and boost your income!

Robert Kiyosaki offers 4 tips to plan for a budget surplus:

Rich Money Habits Review Notes:

None of us are perfect when it comes down to bad habits, but some are worse than others; not understanding your debt or finances is one of them. Kicking these bad habits into touch means that you can look towards becoming debt free:

1: Too many credit cards – Did you know that there are more credit cards than people in the UK? According to APACs, at the end of 2007 there were 73m credit and charge cards compared with around 60 million people.

Having too many credit cards means that you have the potential to get into too much debt. Although introductory offers many tempt you in, it is important that you take control of your credit card debt. Start by paying off the highest APR cards means that you can look forward to becoming debt free in a much quicker time.

2: Spending more than you earn – Spending more than you earn by living beyond your means is a financial habit which you need to nip in the bud right now. This is the quickest way to get into debt, especially if you regularly have to relay on your credit card the week before pay day.

3: Missing credit card payments – Always make sure that you meet your credit card, store card or catalogue payments as they fall due. Missing these payments not only means that you will have to pay late fees but any missed payments will also show on your credit file, which could make it more difficult to get accepted for credit in the future.

4: Losing touch of your finances – Being unaware of how much cash you have in the bank to how much debt you have outstanding means that you have lost touch with your finances, which will make it harder to become debt free. Checking your credit report is a good way to see your own credit history.

5: Not seeking debt help when you need it – Sadly debt problems will not sort themselves out, and if you are missing credit card, store card or even mortgage payments then you need to seek help as soon as possible.

Debt Free may be able to offer you one of our debt solutions which could help you to control your debts by reducing the amount that you need to pay to your unsecured creditors. Getting help about your debts mean that, if you qualify, you could look forward to becoming debt free in 60 months with an IVA.

Need money urgently but can’t avail a loan because of your bad credit status? Look no further, avail a bad credit cash loan. Bad credit cash loans are specially designed for people suffering from bad credit history. Bad credit cash loans are available in two forms namely secured bad credit cash loans and unsecured bad credit cash loans.

Bad credit cash loans aim at providing financial help to people having bad credit history. This can be due to many reasons like arrears, defaults, CCJ etc. You can avail bad credit cash loans for any of your personal or professional needs. Bad credit cash loans are available in two forms, secured and unsecured. To avail a secured bad credit cash loan one needs to place a security against the loan amount. On the other hand you don’t need any security to get an unsecured bad credit cash loan. But the interest rate is a bit higher compared to secured bad credit cash loans as the loan is advanced without any security. To avail a bad credit cash loan one must have a regular source of income, a checking account that has been active for at least 6 months and the borrower must be 18 years of age or above. The amount ranges from ₤500 – ₤25000, with repayment duration of 7 – 18 days. Borrower can make repayment in two ways either by automatic deduction from his account or by drawing a cheque in favor of the lender.

There are certain prerequisites for availing bad credit cash loans. You must have regular source of income and a full time job. You will have to show your job proof and income proof to the lender. Also you must be 18 years of age or above to be eligible to avail bad credit cash loans.

You can choose to apply through physical lenders in order to avail bad credit cash loans but it can be very time taking and harassing job because you will have to visit each and every lender personally. But there’ another way around. Bad credit cash loans can also be availed through online lenders. Online method is much faster and less time taking. You don’t need to visit each and every lender personally instead you just have to fill up an online application form. Lenders will then contact you with their offer.

Bad credit borrowers can also fulfill their needs with the help of bad credit cash loans.

NO CREDIT CHECKS PERSONAL LOANS: no credit check personal loans are source of loan for emergency financial problems. When credit weighs heavy on your shoulders, you can apply for no credit check personal loans.

No credit check personal loans are a great and novel way to overcome credit problems. However, finding personal loans with no credit checks can be some difficult. With no credit check personal loans, you must weigh your options. No credit check personal loans are a way to get a loan even if you have bad credit. You won’t be turned down due to bad credit. No credit check personal loans do not have high interest rates as are associated with bad credit. First getting the no credit check personal loans you should know about the no credit check personal loans:

WHAT IS NO CREDIT CHECK PERSONAL LOAN? No credit check personal loans means loans which does not require credit check and fully personal as any type of borrower can get it without any tension or hesitation.

Most lenders perform a credit check to determine whether or not you are considered a credit risk. But for people with bad credit or no credit, there are no credit check personal loans. These loans allow you to borrow money with bad or no credit, and do not show up on your credit report when you apply for them.

KNOW ABOUT CREDIT CHECK: before getting the no credit check personal loans you should have knowledge of credit check. A credit check is a check performed by the no credit check personal loan lender. The bank or mortgage or loan company will ask many questions about your income and expenses. And the lenders or the loan company will take copies of your bank statements, and get a copy of your credit report. The credit check includes all relevant information on your financial situation – particularly, how much debt you have and how good you are at paying off your debts. You can say the main information about your credit history.

WHY IS THE CREDIT CHECK NOT NECESSARY IN NO CREDIT CHECK PERSONAL LOANS? At Internet when you will search find a number of lenders who provide no credit check personal loans. You can get a no credit check personal loan without a credit check. The reason many lenders do not require a credit check is that they specialize in taking on high risk clients. They fell that everyone deserves the chance to get themselves out of debt. They also loan money to clients who have excellent credit, but just need some ready and quick cash for an emergency financial problems. So they also value your privacy. Sometimes people need money and do not wish to disclose personal financial information to the lender. Therefore, you can get a no credit check personal loans.

USES OF NO CREDIT CHECK PERSONAL LOANS: you can use NO CREDIT CHECK PERSONAL LOANS as various purpose like remodeling of your house, pay the medical treatment bill, make a plan for the dream vacation and pay your loans. You can get up to $10,000 with in few hours of applying only you have to fill up an application and rest of the work will be completed by the experts of the lenders. You can repay it in one month to 60 months. The interest rates are some high of no credit check personal loans because all the risk is for the lenders so they take an extra charge as interest rates for no credit check personal loans.