The Debt Free Lifestyle
Many people have been taught that you cannot get ahead without debt. We are also inundated with advertising telling us we can have anything we want. All we need to do is put it on our credit card.We have become an impatient society, we want it right now. We have lost the ethic of working for what we want.It is not how much money you make; it is what you do with it. By living without debt you can actually have a higher income since you are not paying out interest, you are actually getting paid interest on invested money.All debt is not created equal.
We will classify them as good debt and bad debt.To simplify the classification we will say that good debt is a loan for something that you could sell at any time and repay the debt. This narrows down good debt to a home loan and possibly a home equity loan.A bad debt, of course, is a loan on anything that will lose value.Let's take a look at some debts that we would consider bad debt.Home equity loans are in the gray area. They could be considered good debt if they are used to repair or improve your home, but you would be a lot better off to just save up the money for the project. Home equity loans become bad debt when used for purposes other than home improvement or maintenance. In other words a bad home equity loan is for anything that does not add to the value of your house.
Do not jeopardize your home by taking out a home equity loan on unnecessary items.One possible good use for a home equity loan is when the interest rates are low. You can use a home equity loan to refinance your mortgage. Home equity loans generally have lower costs than conventional home loans.We consider school loans bad debt. If you finish school, get a good high paying job and then attack the loan like mad, a school loan may work out. The problem is that there are too many things that can go wrong.
At best, even if you do graduate and get a good job there are always a lot of other expenses at this time in ones life. You are really behind financially when you start your working life in debt.Auto loans are bad loans that have become common practice to us. We pay interest on a vehicle that will only be worth one half of its original purchase price in five years. Lately it has also been common for us to borrow more than a vehicle is worth. We can trade a car in that we still owe on, and roll that owed amount over into another vehicle.
This gives us a loan amount that is higher than the value of the car that we drive away. We have lost our capacity to say NO.Co-signing is a bad debt that usually and unfortunately involves family. If someone cannot qualify for a loan at a regular lending institution, they should not get a loan. The fact that they can't qualify for a loan elsewhere should tell you that they are a huge risk. Use this opportunity to teach them how they can get what they want by working harder for it and delaying the purchase.
If you want to get off of the debt treadmill, you must run as far away from debt as you can. You cannot use debt to get out of debt. Even if you do, you have not changed your habits; you must change your lifestyle..
John Cook is family oriented and likes to help people get off and stay off the debt treadmill and secure the financial future of their family. You can read more about securing your families finances at his website http://www.financeforfamilies.com.HOW DO YOU PROTECT YOUR BUSINESS AGAINST THE LOSS OF A KEY EMPLOYEE
Key people are vital to your business. The loss of one or more of your key employees can cause disastrous problems. Sales may be lost. Credit can become more difficult to obtain. Profits may shrink, momentum may be lost, and training a replacement will cost you time and money.
Life insurance on key employees can provide a business with a cushion to absorb the shock of such a loss. Most astute business owners insure physical assets from destruction. But when it comes to a business owner's most valuable assets?key employees?many forget to take the same precautions.To protect your business you might consider an insurance policy that protects a business when an essential employee dies. The employer pays premiums for an insurance policy on the key employee's life. The employer is the owner and beneficiary.
At the key employee's death, the employer receives the policy's tax-free death benefit.*During the life of the key employee, cash values accumulate tax-deferred free every...
HOW DO YOU PROTECT YOUR BUSINESS AGAINST THE LOSS OF A KEY EMPLOYEE
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What Short Term Health Insurance Is All About
What is short term health insurance and is it something that can be beneficial to me in any way? I had certainly heard of short term health insurance, but didn’t know what it was exactly or how it would help anyone. It is actually sort of similar to life insurance policies since it is a health insurance policy that can be adopted for a specific amount of time. A short term health insurance policy generally covers only catastrophic health problems. It also will exclude childbirth and usually all pre-existing medical conditions. They are often very hard to qualify for and usually have very strict qualifying conditions attached to the, and require long and strict procedures in applying.
So who would or should consider short term health insurance.
Obviously, with all of the restrictions, you need to be healthy. However, usually unemployed, part-time employed, students, those leaving home for...
What Short Term Health Insurance Is All About
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Buying & Renting a Holiday Home in the Sun
For those who think buying a holiday home, to rent, is an easy way to make a profit on your investment you should be aware that it isn't as easy as it sounds. To start with, there are over 500,000 holiday home owners in the UK - and most of them rent out their property. You can expect high out goings, management commission and fees, insurance bills, and the usual household bills.For anyone considering buying a holiday home, to rent, these six pieces of advice will be invaluable.LocationChoosing a good location is vital,not only because you want a location which is popular with holidaymakers, but also one which is not overly competitive. Destinations like Florida and Spain have, over the years, become highly competitive with thousands of holiday villas available for rent. It is important that you look for facilities close to the home - restaurants, bars or shops, particularly since holidaymakers will be catering for themselves.Type of accommodationThink about your target customers. <...
Buying & Renting a Holiday Home in the Sun
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Funeral Flowers
Unexpected loss is fraught with deep emotions that words can barely express. To help families cope with the shock and agony, flowers offer comfort and express sympathy.
Manners and methods of conveying sympathy vary through countries, cultures and religions, but flowers remain fitting tributes to a departed soul. Displayed during the funeral service and remaining after the ceremony, flowers act as aromatic reminders of the departed member who so enriched life's journey with an inimitable...
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The Finer Points of WAH Etiquette
This article may only be reproduced in its entirety, including the resource box and subscription information electronically or in print. A courtesy copy of your publication would be nice, too!The Finer Points of WAH EtiquetteBy Business etiquette is vitally important in the corporate world...and more so when you work at home.Here we at WAHumor present a basic primer on the finer points of WAH etiquette.Proper Telephone Etiquette: When answering a WAH business phone, you must first and foremost...
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