Consumer debt is a financial killer.
One of the best ways to reclaim your financial future is to repay those high interest consumer loans and then restrict the use of credit cards to emergencies and fast investment cash.
Therefore, a crucial step in creating wealth is to reduce your dependence on credit cards and ensure future monthly payments on all of your cards combined never exceeds 10% of your after tax income.
Consumer debt is usually used to finance the purchase of “nice to have” things--which typically depreciate in value. Whereas, investment debt is the use of financing to purchase things which go up in value, like real estate, antiques, and well-run businesses.
Consumer credit increased at an annual rate of 2.5 percent in May 2006, while revolving credit increased at an annual rate of 10 percent. The Federal Reserve Statistical Release for July 10, 2006, indicates Americans currently owe over 808 billion dollars in revolving debt, which is principally credit cards and auto loans, and over 1.3 trillion dollars in non-revolving debt.
According to U.S. Bankruptcy Court statistics, there were well over 2 million bankruptcy flings made in 2005 alone, with the vast majority of these non-business related filings. Remember, there are approximately 123 million working Americans; therefore, this number represents nearly 2 percent of the working population. The abuse of credit cards by the American consumer has become a financial epidemic.
The propensity of Americans to assume high interest credit card debt, while fearing the use of debt to make intelligent investments, is mind-boggling. Consider this example. A new car may cost you up to $500 per month. At the end of 5 years, you will have a significantly depreciated car, with a loss of $30,000 or more in principal and interest payments.
Compare this to purchasing a rental property. In the worse case scenario, you may expect to make payments during vacancies, provide for unscheduled maintenance, and carry a negative cash flow from month to month. However, at the same time you will be enjoying a property that appreciates in value, while giving you a valuable tax write-off.
Appreciation and tax write-offs are not the primary reason to get involved in real estate, nor is carrying a negative cash flow a pleasant thought. But, in the long run, this is more advantageous to your wealth goals than the car loan.
As a credit consumer you should also protect yourself against the dreaded Universal Default Clause. Amazingly, a large percentage of major credit card issuers have this clause tucked into your user agreement.
Essentially, the Universal Default Clause allows your credit card company to significantly increase your interest rate and fees based on your credit score and payment history with other lenders, including your home and car loan.
Watch out for this clause and try to avoid doing business with credit card companies that use this tactic to prey on their less sophisticated customers.
Ron Taylor mentors home business entrepreneurs who are serious about building successful home businesses. To work with Ron, please visit www.5grandmonthly.com.
You can review all the details regarding the Nutronix payplan, products, and company info by visiting the site below.
Click Here To Review The Nutronix Payplan and Products at AutomaticBuilder
Showing posts with label mlm faq. Show all posts
Showing posts with label mlm faq. Show all posts
Friday
Mining For Gold In Your Home Business
Back in 1848 the employee’s of Sutter’s Mill discovered gold in the rivers and hills around what is now Sacramento, California. Unable to contain their excitement, they ran to San Francisco and shouted to the rooftops, “There’s gold in them thar hills.”
Virtually overnight gold fever spread like wildfire around the globe. Thousands poured into California to strike it rich. And amazingly, many did.
Today we are experiencing the gold rush of our generation in the form of Internet marketing and home business opportunities. The time has never been better to enter the market and stake your claim to a piece of the action. However, just like the gold fields, the marketplace can be a dangerous place unless you are guided by a few basic principles.
As a lifelong entrepreneur, I have learned that following a few basic principles can dramatically increase the probability of achieving success. Following these principles can create an effect similar to the California Gold Rush, but rather than prospectors racing to the gold fields, customers will be racing to your home business opportunity.
The first principle the gold miners learned was that they had to know what they were looking for and where to find it. In modern day terms, this equates to identifying a niche market and understanding how to approach or access that market. A gold miner does not waste his time searching for gold in a salt mine, and you should not waste your time and money searching for wholesale meat customers in a room full of vegetarians. Identifying your niche market makes sense, but we tend to violate this basic principle of marketing everyday.
The gold miners recognized a second principle to mining success that you can use in your daily business. The act of prospecting means “looking” for good places to stake a claim. A gold miner would scour the mountains using a gold pan to test the richness of his “paydirt.” In marketing terms, prospecting means tracking your ads and promotions in order to measure their response rates and customer conversions. A miner would not waste his time digging for gold in an area that had a low payout, and likewise, you should not run ad campaigns in mediums with low customer conversions.
Perhaps the most important principle a miner learned was that gold settles to bedrock, and can only be found by digging through tons of dirt and debris. The lesson we can take from this analogy is that success in any home business or Internet marketing campaign will take work. Sure, the first prospectors found nuggets lying on the ground, just as the Internet pioneers capitalized from the dot com craze. But sadly, we live in a different world today. To find success toady, you will have to dig through a mountain of trash to find your pot of gold.
Despite the hardships, prospectors flocked to the gold fields by the thousands, and many struck it rich. You can find paydirt in your home business if you will identify your market niche, track and test your ad campaigns, and commit yourself to the hard work necessary to reach the bedrock.
You can subscribe to Ron Taylor’s business opportunity newsletter by sending a blank email to Iroquois@getresponse.com. He also hosts a website http://www.wealthsearch.org.
Virtually overnight gold fever spread like wildfire around the globe. Thousands poured into California to strike it rich. And amazingly, many did.
Today we are experiencing the gold rush of our generation in the form of Internet marketing and home business opportunities. The time has never been better to enter the market and stake your claim to a piece of the action. However, just like the gold fields, the marketplace can be a dangerous place unless you are guided by a few basic principles.
As a lifelong entrepreneur, I have learned that following a few basic principles can dramatically increase the probability of achieving success. Following these principles can create an effect similar to the California Gold Rush, but rather than prospectors racing to the gold fields, customers will be racing to your home business opportunity.
The first principle the gold miners learned was that they had to know what they were looking for and where to find it. In modern day terms, this equates to identifying a niche market and understanding how to approach or access that market. A gold miner does not waste his time searching for gold in a salt mine, and you should not waste your time and money searching for wholesale meat customers in a room full of vegetarians. Identifying your niche market makes sense, but we tend to violate this basic principle of marketing everyday.
The gold miners recognized a second principle to mining success that you can use in your daily business. The act of prospecting means “looking” for good places to stake a claim. A gold miner would scour the mountains using a gold pan to test the richness of his “paydirt.” In marketing terms, prospecting means tracking your ads and promotions in order to measure their response rates and customer conversions. A miner would not waste his time digging for gold in an area that had a low payout, and likewise, you should not run ad campaigns in mediums with low customer conversions.
Perhaps the most important principle a miner learned was that gold settles to bedrock, and can only be found by digging through tons of dirt and debris. The lesson we can take from this analogy is that success in any home business or Internet marketing campaign will take work. Sure, the first prospectors found nuggets lying on the ground, just as the Internet pioneers capitalized from the dot com craze. But sadly, we live in a different world today. To find success toady, you will have to dig through a mountain of trash to find your pot of gold.
Despite the hardships, prospectors flocked to the gold fields by the thousands, and many struck it rich. You can find paydirt in your home business if you will identify your market niche, track and test your ad campaigns, and commit yourself to the hard work necessary to reach the bedrock.
You can subscribe to Ron Taylor’s business opportunity newsletter by sending a blank email to Iroquois@getresponse.com. He also hosts a website http://www.wealthsearch.org.
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To Learn How. Join the right team.
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instant information about how to build your business and
make money. To subscribe, simply send a blank email to:
Iroquois@getresponse.com
FREE Power up your Income Course
JUMP start your sales, BOOST your profits - FAST,
and INCREASE your online income with this totally
FREE marketing course! 100% GUARANTEED!
Top Income Programs
FREE! Find out how to make fast income on the net.
Get First Alert notifications when new programs launch
so you can get spillover. 100% Guaranteed!
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Create Passive Income By Starting a Membership Site
And Grow It Into $4650/mth Within 60 Days. Send a
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your email now!
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Jump start your sales, boost your profits, and increase
your online income with this totally FREE marketing
course! 100% Guaranteed!
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To Learn How. Join the right team.
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Thursday
FREE PDF eBook, 17 Principles of Creating Wealth
Get Your Free eBook Here!
“The 17 Principles of Creating Wealth”
Is it possible to become a millionaire in America today?
Yes you can.
There are over 4 million households in America with net worths in excess of 1 million dollars. The 17 Principles of Creating Wealth shows how anyone can become financially independent, starting from where they are at in life today. The information in this 59 page ebook is based on an extensive study of wealth in America and discusses the strategies and techniques used by hundreds of self-made millionaires.
This concise and detailed report provides 17 specific steps you can use to improve your financial intelligent quotient, create passive and portfolio income, and achieve financial wealth. These practical and time tested strategies show you how acquiring income producing assets and preserving a strong capital base can become the seeds of your success.
The 17 Principles of Creating Wealth is easy to read and apply, and offers a straightforward approach to accumulating wealth in America today. For your free copy of this book, please send an email to Ron Taylor at:
Rtaylor111@yahoo.com
Please be advised that I do not sell or transfer email addresses. I hate spam. I will not save or store your email address, unless you opt-in to my free newsletter offer.
“The 17 Principles of Creating Wealth”
Is it possible to become a millionaire in America today?
Yes you can.
There are over 4 million households in America with net worths in excess of 1 million dollars. The 17 Principles of Creating Wealth shows how anyone can become financially independent, starting from where they are at in life today. The information in this 59 page ebook is based on an extensive study of wealth in America and discusses the strategies and techniques used by hundreds of self-made millionaires.
This concise and detailed report provides 17 specific steps you can use to improve your financial intelligent quotient, create passive and portfolio income, and achieve financial wealth. These practical and time tested strategies show you how acquiring income producing assets and preserving a strong capital base can become the seeds of your success.
The 17 Principles of Creating Wealth is easy to read and apply, and offers a straightforward approach to accumulating wealth in America today. For your free copy of this book, please send an email to Ron Taylor at:
Rtaylor111@yahoo.com
Please be advised that I do not sell or transfer email addresses. I hate spam. I will not save or store your email address, unless you opt-in to my free newsletter offer.
Tuesday
3 Steps To Financial Freedom
There are 3 things you can do today to improve your chances on achieving financial freedom.
Achieving wealth in America is not about how much you earn, but how wisely you use what you earn. This article is aimed at helping you to both increase your income, and manage your money properly. Among other things, you will learn that spending more than you earn in an effort to impress friends and neighbors with your material possessions is a recipe for financial disaster.
Check Out Over 1,000 Money Making Opportunities In One Spot
Additionally, lacking the patience to invest for the long-term, develop action oriented goal statements, and failing to protect yourself with proper insurance and legal advice, are all indicators of poor financial management. Again, it’s not what you earn, but what you do with it that matters.
When it comes to wealth building and any business endeavor, one of the biggest obstacles you will encounter is the programming of your parents, friends, school, and media. Popular opinion has taught us that wealth and success comes to those who are lucky, or cheats. But these are all myths. In fact, over 85% of wealthy people in America earned their wealth through hard work, small business ownership, and careful investing.
One standard measurement of wealth is a six-figure income, which pertains to the number of digits in your annual income. A six-figure income equals anything above $100,000. According to the U.S. Census Bureau, in 2004, the number of households with income between $100,000 and $149,999 exceeded 11 million, 3.5 million American households had income between $150,000 and $199,999, 1.3 million households had incomes between $200,000 and $249,999, and 1.7 million households had income above $250,000 per year.
Unfortunately, the wealth of America cannot simply be measured by income.
According to an article written by David Francis and published in the May 23, 2005 edition of Christian Science Monitor, nearly 20% of American households have either zero net worth, or actually owe more than they are worth. Furthermore, according to Francis, 25% of American households do not have sufficient cash reserves or other assets to support themselves above the poverty line for three months, and 33% of households do not even have an active bank account.
What ever happened to the land of opportunity?
Americans are killing themselves with uncontrolled spending, easy credit, and a complete lack of budgeting or saving skills.
To create wealth I recommend you start a home-based business, learn to spend less than you earn, and invest the profits from your business income and savings for long-term growth and asset protection. You can learn more about the process of creating personal wealth by visiting http://www.wealthsearch.org.
Achieving wealth in America is not about how much you earn, but how wisely you use what you earn. This article is aimed at helping you to both increase your income, and manage your money properly. Among other things, you will learn that spending more than you earn in an effort to impress friends and neighbors with your material possessions is a recipe for financial disaster.
Check Out Over 1,000 Money Making Opportunities In One Spot
Additionally, lacking the patience to invest for the long-term, develop action oriented goal statements, and failing to protect yourself with proper insurance and legal advice, are all indicators of poor financial management. Again, it’s not what you earn, but what you do with it that matters.
When it comes to wealth building and any business endeavor, one of the biggest obstacles you will encounter is the programming of your parents, friends, school, and media. Popular opinion has taught us that wealth and success comes to those who are lucky, or cheats. But these are all myths. In fact, over 85% of wealthy people in America earned their wealth through hard work, small business ownership, and careful investing.
One standard measurement of wealth is a six-figure income, which pertains to the number of digits in your annual income. A six-figure income equals anything above $100,000. According to the U.S. Census Bureau, in 2004, the number of households with income between $100,000 and $149,999 exceeded 11 million, 3.5 million American households had income between $150,000 and $199,999, 1.3 million households had incomes between $200,000 and $249,999, and 1.7 million households had income above $250,000 per year.
Unfortunately, the wealth of America cannot simply be measured by income.
According to an article written by David Francis and published in the May 23, 2005 edition of Christian Science Monitor, nearly 20% of American households have either zero net worth, or actually owe more than they are worth. Furthermore, according to Francis, 25% of American households do not have sufficient cash reserves or other assets to support themselves above the poverty line for three months, and 33% of households do not even have an active bank account.
What ever happened to the land of opportunity?
Americans are killing themselves with uncontrolled spending, easy credit, and a complete lack of budgeting or saving skills.
To create wealth I recommend you start a home-based business, learn to spend less than you earn, and invest the profits from your business income and savings for long-term growth and asset protection. You can learn more about the process of creating personal wealth by visiting http://www.wealthsearch.org.
Thursday
Home Business Update
Life is good. On 26 July we added three people to the team, and had another three upgrade their account to the Executive level.
I've been surfing thorugh the Census Bureau and Small Business Administration websites looking at home business statistics. Here are some interesting numbers I found:
Over 85% of new millionaires in America did not inherit their wealth--they earned it, generally through business ownership.
Real median income of American households dropped over 2% in 2003. This trend continues and reflects how job holders are experiencing a drecreae in their effective take home pay.
IMO, the only solution is to own your own business. Business owners in America are becoming millionaires at a record rate, while the employed American is losing purchasing power. Starting a business is actually easier than you may think, and does not require a huge wad of cash. A home business is not for everybody, but if you're interested, click on my link below.
Go To Free Tour Now!
I've been surfing thorugh the Census Bureau and Small Business Administration websites looking at home business statistics. Here are some interesting numbers I found:
Over 85% of new millionaires in America did not inherit their wealth--they earned it, generally through business ownership.
Real median income of American households dropped over 2% in 2003. This trend continues and reflects how job holders are experiencing a drecreae in their effective take home pay.
IMO, the only solution is to own your own business. Business owners in America are becoming millionaires at a record rate, while the employed American is losing purchasing power. Starting a business is actually easier than you may think, and does not require a huge wad of cash. A home business is not for everybody, but if you're interested, click on my link below.
Go To Free Tour Now!
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