I was recently thinking again of my fairly long journey from the depths of financial hell, and trying to think of some things that, if I had in my in my life at that time, might have made the journey a little shorter, or a little easier to stay focused on. Then it occurred to me. And I usually try to do this now. Maybe not on a daily basis, but at the very least on all of my off days. I try to come up with at least one good "money event" or "money mood booster" each day.
I'll get to the explanation of exactly what that is in a second. Going back to my journey--it was not the easiest thing in the world. And I have never said that it was. Most of the goals that I was trying to reach back then were very long term (because I was so far in debt). Therefore, there were a lot of days when it would have been easy to just give up, to forget about it all and go back to my old ways of spending money.
I can't imagine how much more motivated I would have been had I had a little "boost" at least every few days, if not every day. Just a little something that told me I was doing things right, I was making progress, and that I would reach my goals at some point in time.
This is what I'm talking about when I say a daily "money event" or "money mood booster". I'm not saying that every day you're going to be able to come up with a way to beat the stock market, with a way to cut your grocery bill in half, or any other major savings event. What I am saying is that you should try to identify some of the "little" ways that you have found to save money-and celebrate them. Give your conscience a little boost.
Some recent examples in my life.
--I recently found a different gas station to do my filling up. Its right near our home, and I save roughly 9 cents per gallon on gas. Is this huge savings on a daily or even weekly basis? No. But, stretch it out over a year, and it's about $125 in savings!
--The other day, I noticed the food we buy for our baby on sale at half price. So I went home, and got my "dollar off when you buy 10" coupons and stocked up. I got 40 little jars of baby food for the price of 16!
I buy motor oil somewhat in bulk for our two cars. Found a coupon online for $10 off a purchase of $25 for my auto parts store. Printed it out, bought my oil for about the next six months, and saved 40%!
It is these types of things that first of all, you should be trying to do in your life. It is these kinds of things that will lead to a more financially sound lifestyle. And second, you should celebrate them. Throw a party and have cake and ice cream? Of course not. But give your mind a little pat on the back every time you do these things. If you are currently in debt and trying to dig your way out, this will provide you additional motivation to help keep you on the right track. If you're already there and still trying to squeeze your dollars, celebrating these little things will keep you sharp and on the lookout for more ways to save.
As I see it, saving money is more about a state of mind than it is about sacrificing things in your life or how much money you make. Want to learn more tips and strategies on how to save money on your bills, how to spend less money in general and some great methods for generating income in your life? Visit me at my personal finance blog http://yourfinances101.com/blog.
There you can check out my recently published book, "Don't Be A Mule: A Common-sense Guide to Saving More, Spending Less, and Generating Extra Income in Your Everyday Life."
Article Source: http://EzineArticles.com/?expert=David_Bakke
Minggu, 15 November 2009
Selasa, 03 November 2009
Consumer Debt Collection Do's And Don'ts To Keep Your Sanity
Consumer debt collection involving you or a family member can be very stressful. You do have rights and responsibilities under the law, and once you learn what they are, you may be able to minimize the stress and strain it may put on you and your family.
If you find yourself on the receiving end of calls from creditors or collectors, the most important thing you can do is to remain calm. Keeping a level head is the best thing you can do to be able to remember important information. The information you want to collect is: name, address, and phone number of the party contacting you. The name of the business you actually owe the money to; it may be different than the caller. The exact balance the caller claims you owe.
Make sure to dispute the debt in writing within 30 days of receiving notice from a collection agency. They must then halt all collection activity until a copy of the verification is sent to you. If verification of the debt can not be obtained, all collection activity by the collection must be ceased.
A collection agency is not able to start legal action against you. Only the creditor has that ability. However, a debt collector can suggest such a course of action to a creditor.
A collection agency or creditor may not harass you, including calling before or after the hours of 8:00 am to 9:00 pm. They may not call you names, or question your decisions or your employment. Keep in mind that there is a thin line between rudeness and harassment and although something may seem out of line, it may not be.
Just remember that you do have rights and legal recourse where consumer debt collection is involved. Try to stay calm and have the upper hand in your dealings with creditors and collection agencies.
By: John Phillips
Article Directory: http://www.articledashboard.com
To find out more about what consumer debt solutions may be right for you, visit: credit card debt information. John Phillips owns and operates ccdebtinfo.com
If you find yourself on the receiving end of calls from creditors or collectors, the most important thing you can do is to remain calm. Keeping a level head is the best thing you can do to be able to remember important information. The information you want to collect is: name, address, and phone number of the party contacting you. The name of the business you actually owe the money to; it may be different than the caller. The exact balance the caller claims you owe.
Make sure to dispute the debt in writing within 30 days of receiving notice from a collection agency. They must then halt all collection activity until a copy of the verification is sent to you. If verification of the debt can not be obtained, all collection activity by the collection must be ceased.
A collection agency is not able to start legal action against you. Only the creditor has that ability. However, a debt collector can suggest such a course of action to a creditor.
A collection agency or creditor may not harass you, including calling before or after the hours of 8:00 am to 9:00 pm. They may not call you names, or question your decisions or your employment. Keep in mind that there is a thin line between rudeness and harassment and although something may seem out of line, it may not be.
Just remember that you do have rights and legal recourse where consumer debt collection is involved. Try to stay calm and have the upper hand in your dealings with creditors and collection agencies.
By: John Phillips
Article Directory: http://www.articledashboard.com
To find out more about what consumer debt solutions may be right for you, visit: credit card debt information. John Phillips owns and operates ccdebtinfo.com
Facilitator Or Trusted Advisor
In the modern age of financial practice, securities salespeople no longer call themselves brokers or registered representatives. They now go by names like financial consultant or investment specialist. Many advisors continue to charge commissions and work in a mainly transaction-based model, but many have also converted to a fee-based practice, charging management fees to oversee client assets.
Most financial advisors work for one of the major brokerage firms, banks, or insurance companies. There is also a relatively small but growing contingent of independent advisors who are not affiliated with any outside financial entity. Most of these advisors are either solo practitioners or small partnerships of advisors working together. There are, of course, many medium- to large-sized independent money management firms, but these firms typically work with institutional investors such as pension and endowments funds rather than individuals.
Despite the growth of advisors adopting a fee-based model, many are still acting like brokers or facilitators instead of client-focused, trusted advisors. Filling orders, following instructions, and saying what the clients want to hear—the main activities of a order-taker or facilitator—may seem like a good business model, but it is probably not serving the best interests of clients.
Trusted advisors are client advocates. They are not afraid to follow the courage of their conviction, think rationally, and maintain their discipline, even in the worst of times. These advisors have a clearly stated and sound philosophy about investments and financial planning. They set expectations, educate their clients, and work in a collaborative fashion—always putting their clients' interests first.
Here are some differences between facilitators and a trusted advisors:
Courage of conviction—Trusted advisors carefully evaluate a client's situation and make recommendations that are in the best interests of the client, even if the client initially disagrees or wants to do something different. Trusted advisors understand that the most prudent course of action is not always the easiest one to take. This is especially true with money and markets, where emotions can run high, often causing poor decisions to be made. It is important to take the time to explain the pros and cons of various strategies, and help a client understand which approach would be best for them.
In contrast, a facilitator may allow or even encourage a client to make decisions that might feel good in the short run but are counterproductive long-term. They might do this out of fear of losing business or a preference for expediency. Facilitators generally do not bring discipline and rationality to the investment process, which is a big part of the value of having an advisor. This is unfortunate because in emotional times clients can benefit from hearing a rational and independent voice of reason.
Stated investment philosophy—Trusted advisors have a clear and unwavering approach to investments and financial planning. They take the time to educate their clients about their approach and are willing to turn away prospective clients that are not a good fit. Trusted advisors have the flexibility to use any product or vehicle they feel is appropriate, but they use them in a way that is consistent with their investment beliefs. Above all, they do not adopt a approach they believe is not in the client’s interest simply because the client wants it.
Facilitators, on the other hand, usually don’t have a clearly stated investment philosophy. They want the flexibility of being able to offer a prospective client whatever investment approach the client is looking for. Facilitators might offer several different investment solutions, even if they are philosophically inconsistent with each other. As a result, they may have clients following conflicting strategies, which makes it impossible to send a consistent message to clients.
Coaching and Educating—Trusted advisors act as financial coaches for their clients. Whether it is in sports or business, the role of a coach is the same. A coach is an educator and teacher who understands the objectives and defines and implements a process to achieve them. He or she also communicates collaboratively in a team-building fashion, and provides the discipline to ensure good, long-term results.
Education is also critical to a successful advisor-client relationship. Clients benefit from learning about economics, finance, and how markets work. A trusted advisor is able to facilitate substantive discussions about these and other important topics. Clients make smarter decisions when they have useful and informative information.
Facilitators often lack the skills needed to truly educate and advise their clients, and must fall back on other means, such as persuasive sales skills, to retain client relationships. They may not be willing to spend the time, or simply may not have the knowledge, to properly educate and inform their clients. A good advisor has a high level of expertise, as well as the skills necessary to impart that knowledge to others in an effective way.
By: Dan Goldie
Article Directory: http://www.articledashboard.com
Dan Goldie is an independent financial advisor and financial planner working with high net worth individuals and families. Investment advice provided through Dan Goldie Financial Services LLC, a Registered Investment Advisor.
Most financial advisors work for one of the major brokerage firms, banks, or insurance companies. There is also a relatively small but growing contingent of independent advisors who are not affiliated with any outside financial entity. Most of these advisors are either solo practitioners or small partnerships of advisors working together. There are, of course, many medium- to large-sized independent money management firms, but these firms typically work with institutional investors such as pension and endowments funds rather than individuals.
Despite the growth of advisors adopting a fee-based model, many are still acting like brokers or facilitators instead of client-focused, trusted advisors. Filling orders, following instructions, and saying what the clients want to hear—the main activities of a order-taker or facilitator—may seem like a good business model, but it is probably not serving the best interests of clients.
Trusted advisors are client advocates. They are not afraid to follow the courage of their conviction, think rationally, and maintain their discipline, even in the worst of times. These advisors have a clearly stated and sound philosophy about investments and financial planning. They set expectations, educate their clients, and work in a collaborative fashion—always putting their clients' interests first.
Here are some differences between facilitators and a trusted advisors:
Courage of conviction—Trusted advisors carefully evaluate a client's situation and make recommendations that are in the best interests of the client, even if the client initially disagrees or wants to do something different. Trusted advisors understand that the most prudent course of action is not always the easiest one to take. This is especially true with money and markets, where emotions can run high, often causing poor decisions to be made. It is important to take the time to explain the pros and cons of various strategies, and help a client understand which approach would be best for them.
In contrast, a facilitator may allow or even encourage a client to make decisions that might feel good in the short run but are counterproductive long-term. They might do this out of fear of losing business or a preference for expediency. Facilitators generally do not bring discipline and rationality to the investment process, which is a big part of the value of having an advisor. This is unfortunate because in emotional times clients can benefit from hearing a rational and independent voice of reason.
Stated investment philosophy—Trusted advisors have a clear and unwavering approach to investments and financial planning. They take the time to educate their clients about their approach and are willing to turn away prospective clients that are not a good fit. Trusted advisors have the flexibility to use any product or vehicle they feel is appropriate, but they use them in a way that is consistent with their investment beliefs. Above all, they do not adopt a approach they believe is not in the client’s interest simply because the client wants it.
Facilitators, on the other hand, usually don’t have a clearly stated investment philosophy. They want the flexibility of being able to offer a prospective client whatever investment approach the client is looking for. Facilitators might offer several different investment solutions, even if they are philosophically inconsistent with each other. As a result, they may have clients following conflicting strategies, which makes it impossible to send a consistent message to clients.
Coaching and Educating—Trusted advisors act as financial coaches for their clients. Whether it is in sports or business, the role of a coach is the same. A coach is an educator and teacher who understands the objectives and defines and implements a process to achieve them. He or she also communicates collaboratively in a team-building fashion, and provides the discipline to ensure good, long-term results.
Education is also critical to a successful advisor-client relationship. Clients benefit from learning about economics, finance, and how markets work. A trusted advisor is able to facilitate substantive discussions about these and other important topics. Clients make smarter decisions when they have useful and informative information.
Facilitators often lack the skills needed to truly educate and advise their clients, and must fall back on other means, such as persuasive sales skills, to retain client relationships. They may not be willing to spend the time, or simply may not have the knowledge, to properly educate and inform their clients. A good advisor has a high level of expertise, as well as the skills necessary to impart that knowledge to others in an effective way.
By: Dan Goldie
Article Directory: http://www.articledashboard.com
Dan Goldie is an independent financial advisor and financial planner working with high net worth individuals and families. Investment advice provided through Dan Goldie Financial Services LLC, a Registered Investment Advisor.
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