If you're visiting my blog you're probably wondering what you came across..
Am I right?
Well don't feel bad cause I share your pain too. This will be always be a work in progress and who knows what subject you will find.. OK I know I'm going against the traditional blog that stays on the same subject but HEY that's me!
I talk about Credit and Debt, very depressing subject but a must or it will eat you alive, we talk about marketing and making money too! OK the money part gets me excited cause money equals fun and FUN is where its all at...
So just bare with me and check back soon to see "what the hell was he thinking" or not..
Oh I forgot to mention that I'm passionate about Harley Davidson motorcycles!!! something to do about freedom on the road..:)
Check back later,
Scott
http://www.fdipays.com/
Showing posts with label Debt. Show all posts
Showing posts with label Debt. Show all posts
Monday, April 27, 2009
Thursday, April 23, 2009
Participant or Bystander?
Yes, I agree that things aren't so rosie for many people in today's economy, but did they become a victim or did they participate? At this point it really doesn't matter, the damage is done for many, the best defense now is the ability to identify and understand.
The Truth.. Most problems could have been avoided by acting on one simple phrase "live on less than you make". I too get envious when I see people drive their new cars or hear them talk about their vacations and buying the latest and greatest electronic items! Who wouldn't want all this stuff.. Never focus on what you don't have, instead be grateful for what you do have.
I can't speak for everyone but some of these individuals are living paycheck to paycheck, some are even going into foreclosure on their homes. Sadly enough a few people have made the statement "they deserve it"! We all deserve the best and the best will come when we are good stewards of our finances. All the stories are the same with the outcome being the same too. The feelings these people are encountering are unhappiness, stress and hopelessness, all wondering how they will make it through these economically bad times. Was it worth it?
I'm in favor of nice homes, cars, motorcycles, vacations and the latest electronic items that make my live more enjoyable. I also have multiple source or income or MSI's in place to help fund my enjoyments. Having a financial plan is always a good start, however I'm never in favor of buying on credit when it could sacrifice the the financial future of your family or your health. Did you know that money problems are the leading cause of divorce in the USA? This is the difference between participating or standing on the sidelines and watching.
Wouldn't the outcome be different if people had no debt except maybe a mortgage? If they had saved 3 to 6 months of income for emergency's, thing would be a lot different. I know this can be accomplished even on a average income. It's not how much you make that is important, its how much you keep that counts. Someone once told me that money wasn't everything, try to tell that to the bank. If you want more stuff, you need to be open on new ways to generate income!
Todays economy will come to pass, but I guarantee the same situation will come again in our future. My only question to you ... What will you do different to change your financial outcome?
To your financial success,
Scott
www.fdipays.com
The Truth.. Most problems could have been avoided by acting on one simple phrase "live on less than you make". I too get envious when I see people drive their new cars or hear them talk about their vacations and buying the latest and greatest electronic items! Who wouldn't want all this stuff.. Never focus on what you don't have, instead be grateful for what you do have.
I can't speak for everyone but some of these individuals are living paycheck to paycheck, some are even going into foreclosure on their homes. Sadly enough a few people have made the statement "they deserve it"! We all deserve the best and the best will come when we are good stewards of our finances. All the stories are the same with the outcome being the same too. The feelings these people are encountering are unhappiness, stress and hopelessness, all wondering how they will make it through these economically bad times. Was it worth it?
I'm in favor of nice homes, cars, motorcycles, vacations and the latest electronic items that make my live more enjoyable. I also have multiple source or income or MSI's in place to help fund my enjoyments. Having a financial plan is always a good start, however I'm never in favor of buying on credit when it could sacrifice the the financial future of your family or your health. Did you know that money problems are the leading cause of divorce in the USA? This is the difference between participating or standing on the sidelines and watching.
Wouldn't the outcome be different if people had no debt except maybe a mortgage? If they had saved 3 to 6 months of income for emergency's, thing would be a lot different. I know this can be accomplished even on a average income. It's not how much you make that is important, its how much you keep that counts. Someone once told me that money wasn't everything, try to tell that to the bank. If you want more stuff, you need to be open on new ways to generate income!
Todays economy will come to pass, but I guarantee the same situation will come again in our future. My only question to you ... What will you do different to change your financial outcome?
To your financial success,
Scott
www.fdipays.com
Thursday, April 9, 2009
Best explanation of the financial mess we are in!
This came from a friend of mine so don't give me the credit for this information, I know we all can relate to this explanation..
Enjoy the read....Derivative markets .... an understandable explanation
Heidi is the proprietor of a bar in Detroit. In order to increase sales, she decides to allow her loyal customers- most of whom are unemployed alcoholics - to drink now but pay later. She keeps track of the drinks consumed on a ledger (thereby granting the customers loans).
Word gets around about Heidi's drink now pay later marketing strategy, and as a result increasing numbers of customers flood into Heidi's bar and soon she has the largest sale volume for any bar in Detroit. By providing her customers' freedom from immediate payment demands, Heidi gets no resistance when she substantially increases her prices for wine and beer, the most consumed beverages. Her sales volume increases massively.
A young and dynamic vice-president at the local bank recognizes these customer debts as valuable future assets and increases Heidi's borrowing limit.
He sees no reason for undue concern since he has the debts of the alcoholics as collateral. At the bank's corporate headquarters, expert traders transform these customer loans into DRINKBONDS, ALKIBONDS and PUKEBONDS. These securities are then traded on security markets worldwide. Naïve investors don't really understand that the securities being sold to them as AAA secured bonds are really the debts of unemployed alcoholics. Despite this, their prices continuously climb, and the securities become the top-selling items for some of the nation's leading brokerage houses.
One day, although the bond prices are still climbing, a risk manager at the bank (subsequently fired due to his negativity), decides that the time has come to demand payment on the debts incurred by the drinkers at Heidi's bar. Heidi demands payment from her alcoholic patrons, but being unemployed they cannot pay back their drinking debts. Therefore, Heidi cannot fulfill her loan obligations and she claims bankruptcy. DRINKBOND and ALKIBOND drop in price by 90%. PUKEBOND performs better, stabilizing in price after dropping by 80%. The decreased bond asset value destroys the bank's liquidity and prevents it from issuing new loans.
The suppliers of Heidi's bar, having granted her generous payment extensions and having invested in the securities, are faced with writing off her debt and losing over 80% on her bonds. Her wine supplier claims bankruptcy, her beer supplier is taken over by a competitor, who immediately closes the local plant and lays off 50 workers.
The bank and brokerage houses are saved by the Government following dramatic round-the-clock negotiations by leaders from both political parties. The funds required for this bailout are obtained by a tax levied on employed middle-class non-drinkers.
Finally an explanation that is understandable. And everyone lives happily ever after ! ! ! ! !
Scott Sebenaler
www.fdipays.com
Enjoy the read....Derivative markets .... an understandable explanation
Heidi is the proprietor of a bar in Detroit. In order to increase sales, she decides to allow her loyal customers- most of whom are unemployed alcoholics - to drink now but pay later. She keeps track of the drinks consumed on a ledger (thereby granting the customers loans).
Word gets around about Heidi's drink now pay later marketing strategy, and as a result increasing numbers of customers flood into Heidi's bar and soon she has the largest sale volume for any bar in Detroit. By providing her customers' freedom from immediate payment demands, Heidi gets no resistance when she substantially increases her prices for wine and beer, the most consumed beverages. Her sales volume increases massively.
A young and dynamic vice-president at the local bank recognizes these customer debts as valuable future assets and increases Heidi's borrowing limit.
He sees no reason for undue concern since he has the debts of the alcoholics as collateral. At the bank's corporate headquarters, expert traders transform these customer loans into DRINKBONDS, ALKIBONDS and PUKEBONDS. These securities are then traded on security markets worldwide. Naïve investors don't really understand that the securities being sold to them as AAA secured bonds are really the debts of unemployed alcoholics. Despite this, their prices continuously climb, and the securities become the top-selling items for some of the nation's leading brokerage houses.
One day, although the bond prices are still climbing, a risk manager at the bank (subsequently fired due to his negativity), decides that the time has come to demand payment on the debts incurred by the drinkers at Heidi's bar. Heidi demands payment from her alcoholic patrons, but being unemployed they cannot pay back their drinking debts. Therefore, Heidi cannot fulfill her loan obligations and she claims bankruptcy. DRINKBOND and ALKIBOND drop in price by 90%. PUKEBOND performs better, stabilizing in price after dropping by 80%. The decreased bond asset value destroys the bank's liquidity and prevents it from issuing new loans.
The suppliers of Heidi's bar, having granted her generous payment extensions and having invested in the securities, are faced with writing off her debt and losing over 80% on her bonds. Her wine supplier claims bankruptcy, her beer supplier is taken over by a competitor, who immediately closes the local plant and lays off 50 workers.
The bank and brokerage houses are saved by the Government following dramatic round-the-clock negotiations by leaders from both political parties. The funds required for this bailout are obtained by a tax levied on employed middle-class non-drinkers.
Finally an explanation that is understandable. And everyone lives happily ever after ! ! ! ! !
Scott Sebenaler
www.fdipays.com
Thursday, August 28, 2008
How do you think about Money?
Many of my posts in the past have focused on high cost of debt and credit issues along with ID theft. These topics are important and can steal your potential wealth if ignored.
As I was driving down the road the other day, I started thinking about how people react when we introduce new ideas about making money. One of the most ignorant statements I hear is “I don’t need a lot of money” or “Money isn’t that important”.
It makes me sick when I hear this come out of their mouth. YOUR mind and YOUR thoughts are possibly the biggest drain on your personal bank account. Money may not very important to you, but skip your mortgage or rent payment and see how important money is to your Banker or landlord. How far can you drive your car with no money? Try to watch your favorite TV show, cook a meal or take a shower after the utility bill isn’t paid in 60 days. Are you starting to see how important money is for everyone else?
I agree that money can’t by everything, one thing money can’t buy is poverty. The lack of money causes more family problems than most things combined.
Money should be important; you can help more people when you have money. You can become a servant to others and give more to charity with money. Money can make you a better person if you don’t abuse it. OK, I hear some say that money is bad or he turned into a bad person after he had money. The truth of the matter is that person was bad before they had money; they just started to show their true colors!
When you have a lack of money you can’t serve the needs of others, you are only focused on keeping your head above water. How can your family benefit if there is a constant argument over money? Now don’t get me wrong, just having money doesn’t solve all the problems, there is a lot of personal responsibility too. Learning how to become a better money manager is the key to your success. This is why I am passionate about telling people how credit and debt are robbing their financial future.
So what do I need to do to change my thoughts about money?
Money is created by ideas, if you want more money you need to keep an open mind and embrace new ideas. You don’t have to jump on every idea or opportunity that comes your way but you need to be open and at least listen. The world is full of opportunities only if your keep an open mind!
We could spend hours chatting about money making ideas, so start with the basics of being open minded and explore the ideas that come your way. You get exactly what you think about, this is called the Law of Attraction. Start thinking about what you want instead of what you don’t want!
Think abundance.......
To your success,
Scott
www.fdipays.com
As I was driving down the road the other day, I started thinking about how people react when we introduce new ideas about making money. One of the most ignorant statements I hear is “I don’t need a lot of money” or “Money isn’t that important”.
It makes me sick when I hear this come out of their mouth. YOUR mind and YOUR thoughts are possibly the biggest drain on your personal bank account. Money may not very important to you, but skip your mortgage or rent payment and see how important money is to your Banker or landlord. How far can you drive your car with no money? Try to watch your favorite TV show, cook a meal or take a shower after the utility bill isn’t paid in 60 days. Are you starting to see how important money is for everyone else?
I agree that money can’t by everything, one thing money can’t buy is poverty. The lack of money causes more family problems than most things combined.
Money should be important; you can help more people when you have money. You can become a servant to others and give more to charity with money. Money can make you a better person if you don’t abuse it. OK, I hear some say that money is bad or he turned into a bad person after he had money. The truth of the matter is that person was bad before they had money; they just started to show their true colors!
When you have a lack of money you can’t serve the needs of others, you are only focused on keeping your head above water. How can your family benefit if there is a constant argument over money? Now don’t get me wrong, just having money doesn’t solve all the problems, there is a lot of personal responsibility too. Learning how to become a better money manager is the key to your success. This is why I am passionate about telling people how credit and debt are robbing their financial future.
So what do I need to do to change my thoughts about money?
Money is created by ideas, if you want more money you need to keep an open mind and embrace new ideas. You don’t have to jump on every idea or opportunity that comes your way but you need to be open and at least listen. The world is full of opportunities only if your keep an open mind!
We could spend hours chatting about money making ideas, so start with the basics of being open minded and explore the ideas that come your way. You get exactly what you think about, this is called the Law of Attraction. Start thinking about what you want instead of what you don’t want!
Think abundance.......
To your success,
Scott
www.fdipays.com
Thursday, August 14, 2008
Have you listened to Dave Ramsey?
Have you listened to Dave Ramsey?
Some of you may have listened to The Dave Ramsey show on the radio or satellite, Dave takes calls on the air from listeners that are looking for solutions to get out of debt. I have listened for a couple years and found that Dave gives some awesome advice on eliminating debt. When I first listened it was the same principals that we have been introducing through Equity Trax and Financial Destination Inc.
For the past few years I have heard caller after caller looking for guidance and advice on how to get out of debt, I sit back and scream at the radio knowing we have the answer! See, Dave believes that in order to get out of debt we should eat rice and beans and drive a $1000.00 car. He tells many to go deliver pizzas or work for UPS to make extra income. Again for some this could be an option. I believe that we just need to make more money and have a plan in place allowing us to become better money managers.
Why would someone that wants you to become debt free not teach you ways to leverage your time? Dave is making money by selling his books and seminars; he is a business owner and uses his employee’s to leverage his time and make more money. Why are some expected to work for an Employer to make their dreams come true?
I believe owning a traditional business isn’t for everyone, but in today’s world there are more business models available making it possible for anyone to start a business with little money.
So what are some advantages of having your own deal?
The biggest one is the ability to generate unlimited income, this one takes time and effort but so does your JOB! Set your own hours; be careful not to short yourself. You will still need to show up to make money, but you are working toward your future. Tax benefits, current tax codes are in the business owner favor, in business you pay all your business expenses first then pay tax on what’s left over, as a employee you pay the tax first, then you pay all your expenses!
If you need money short term then go out and deliver pizzas or work for UPS and pay down that debt. Remember this is only a bandage, the problem likely started because of the lack of income. If you want a secure future learn more about becoming a business owner. Look within your suburb or city, chances are the business owners go on more vacations, drive better cars and live in bigger homes. This is all the direct result of leverage and you can do the same.
Until next time.....
Scott
Some of you may have listened to The Dave Ramsey show on the radio or satellite, Dave takes calls on the air from listeners that are looking for solutions to get out of debt. I have listened for a couple years and found that Dave gives some awesome advice on eliminating debt. When I first listened it was the same principals that we have been introducing through Equity Trax and Financial Destination Inc.
For the past few years I have heard caller after caller looking for guidance and advice on how to get out of debt, I sit back and scream at the radio knowing we have the answer! See, Dave believes that in order to get out of debt we should eat rice and beans and drive a $1000.00 car. He tells many to go deliver pizzas or work for UPS to make extra income. Again for some this could be an option. I believe that we just need to make more money and have a plan in place allowing us to become better money managers.
Why would someone that wants you to become debt free not teach you ways to leverage your time? Dave is making money by selling his books and seminars; he is a business owner and uses his employee’s to leverage his time and make more money. Why are some expected to work for an Employer to make their dreams come true?
I believe owning a traditional business isn’t for everyone, but in today’s world there are more business models available making it possible for anyone to start a business with little money.
So what are some advantages of having your own deal?
The biggest one is the ability to generate unlimited income, this one takes time and effort but so does your JOB! Set your own hours; be careful not to short yourself. You will still need to show up to make money, but you are working toward your future. Tax benefits, current tax codes are in the business owner favor, in business you pay all your business expenses first then pay tax on what’s left over, as a employee you pay the tax first, then you pay all your expenses!
If you need money short term then go out and deliver pizzas or work for UPS and pay down that debt. Remember this is only a bandage, the problem likely started because of the lack of income. If you want a secure future learn more about becoming a business owner. Look within your suburb or city, chances are the business owners go on more vacations, drive better cars and live in bigger homes. This is all the direct result of leverage and you can do the same.
Until next time.....
Scott
Subscribe to:
Posts (Atom)
