Credit Card – Cut It or Keep It?

If you are in a situation where you will be applying for a loan to buy a house or automobile, or . . . . ., then you may want to wait to cut up the card and/or cancel the account until that loan has been approved. . . . → Read More: Credit Card – Cut It or Keep It?

Let’s Talk About Loans – Part 2: Unsecured and Secured Loans

Back in March of 2012 I posted a blog that talked about loans, specifically the difference between Revolving Loans and Installment Loans.

With that, let’s talk about the difference between an Unsecured Loan and a Secured Loan.

An Unsecured Loan is money you borrow from a bank or creditor that is only . . . → Read More: Let’s Talk About Loans – Part 2: Unsecured and Secured Loans

Let’s Talk About Loans

Mortgage Application

Not that I want you to go into debt. But if you have loans, you may need a little understanding of the two types and how they work – either for you or against you. As you probably know, a loan is a type of debt. It is either a revolving type or an installment type. Let’s define each type. . . . → Read More: Let’s Talk About Loans

How to Establish or Re-Establish Your Credit Rating

1. You have no credit cards or loans – thus no credit rating. 2. You have had financial difficulties and have a less-than-stellar credit history but you want to improve your credit rating. . . . → Read More: How to Establish or Re-Establish Your Credit Rating

Personal Financial Statement

as you build your wealth, you may need to buy a business or property and need the help of a lender to leverage your purchase. Once you decide that you need a lender, you (and your partners) will be required to fill out SBA Form 413 or something very similar. . . . → Read More: Personal Financial Statement

Approaching Debt Free

In order to have financial energy, you must have a source of income and you must be able to use a portion of that source for building your wealth. This means that personal debt must be controlled or eliminated. . . . → Read More: Approaching Debt Free

Debt = Anti-Wealth

Debt is addictive. Debt is seductive. Debt is inviting. Debt is . . . Common Example: John and Jane want two new cars but they only have $4000 saved up and the cars they want cost $28,000 each for a total of $56,000. They have a very good credit rating and the lending institution lends them the money at an attractive interest rate. They drive away in their new cars feeling on top of the world and “wealthy”. . . . → Read More: Debt = Anti-Wealth

Credit Cards – Good, Bad or Neutral?

Let’s get one thing understood! Credit Cards have been invented by banks to make THEM money – that is the only reason they exist. . . . → Read More: Credit Cards – Good, Bad or Neutral?