Archive for April, 2009

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Credit Card Research: Visa Black Card.

Since I get emails all the time asking about different credit cards and if people should be signing up for this, that, or the other one, this will be a new feature every week about different credit cards. This week’s card is the Visa Black Card, which has 0% APR for 6 Billing Cycles that is applied to Balance Transfers, and also gives you access to airport lounges all over the world. (Very high monthly fee though, so you really need to NEED what you get with the card) (If you are reading this by RSS, you might have to click through to see all the details)

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Money Quote Friday – Sheer Madness Edition.

“It is sheer madness to live in want in order to be wealthy when you die.”

-Decimus Junius Juvenalis

Have a great weekend….

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Advice On Doing What You Want, When You Want, And How You Want.

As many of you know, I left my corporate gig over 2.5 years ago to strike out on my own. I get emails all the time asking me how I did it, and it’s really a hard thing to answer in a single post as it is a culmination of so many things I went through. However, I can say that it has been the best years of my working life, which started at 14 with a paper route. The ability to work when I want and for whom I want has really changed my life. I no longer dread sitting in a cubicle all day making someone else rich; instead, my every move is dedicated to both increasing my earnings while reducing my work time. For the most part, I now try to get the majority of my work done in the first 4 hours of the day, from 8-12, which leaves me the rest of the day to go hiking, do some woodworking, run errands, or just sit outside with a good book. It’s not for everyone, but it’s certainly for me. Along the way, I have read a whole bunch of books that have enabled/assisted me in getting to this place in life, and if you have been looking for ways to simplify your life and live life the way you want to versus how someone else wants you to, you might want to check a few of these out. They were essential to me changing my attitude towards money and how I spent it, and learning how to adapt my thinking to be able to survive on my own without a boss to report to. If you can find them at the library, I would definitely borrow them. Alternatively, if you buy them, you can refer to them often – I have read several of these books a few times each and will continue to go back to them often. For me, they have been invaluable in teaching me what I needed to know to succeed on my own and change the way I look at making money. Check them out if you get a chance and are looking to make some of these changes in your own life.

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Most Importantly: Know Your Financial History.

I was recently asked what I consider to be the number one piece of advice when it comes to relationships, couples and money. I strongly believe that couples should what do what I call a “Money Gram” – or a money family tree. This helps them to understand each others attitudes, fears, beliefs and patterns in both families money histories. This will clue them in to their power dynamic and potential conflict around money. It may draw attention to issues each person wasn’t aware of ““ both in their personal financial life, and their life as a couple.

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Getting Federal Help For Your Mortgage Problems.

If you are one of the millions of people having trouble with your mortgage, the government is going to try to help you out a little. They are putting about $75 billion dollars into the housing industry to help homeowners refinance and/or modify their mortgages. However, not everyone who is having trouble is eligible, as there are restrictions on who can qualify. Some important points to review before trying to apply for help:

For loan refinancing

- You must be current on your payments and your mortgage must have fallen below the 20% equity threshold.
- Loan must be owned by (or have been packaged by) Fannie Mae or Freddie Mac.
- The loan must not exceed 105% of the market value of your house.

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