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Added for You - Good Debt Vs. Bad Debt: What You Need to Know!
Once upon a time a company introduced a new product. They didn’t want their competition to know, so they didn’t advertise or even send out a news release. Sales of the new product were disappointing. The manufacturer was unhappy. What went wrong? Any thoughts?My answer is that this kind of “stealth marketing” doesn’t work. You need to be visible to sell something. When this manufacturer started promoting their new product, sales picked up.So visibility is good for business. But how do you get visible with limited resources? Here are some programs I recommend.1) Postcard marketing - Use postca
Why do I say this? Well, it has long been established that a new car depreciates an average of 20% in just the first year. Thus, it makes more sense to buy a pre-owned vehicle and let the first owner swallow that first big chunk of depreciation for you. Here’s an example of how doing that would contribute
Now in a world with so many easy to get credit cards it can be easy for someone who is a first time credit card holder, or even someone who has several credit cards in the past to make mistakes when using the card.One of the most common mistakes when using credit cards is to use the credit card to make purchases of things you are not really able to afford. Easy to get credit cards make it tempting to get a credit card in a store to make a large impulse buy, that you will end up paying for several times over in interest rates. People will often sign up for credit cards at baseball games, and on college campuses in or
As the title suggests, not all debt is bad. Good debt helps you obtain assets that produce income. If taking out a loan will eventually put you in a better financial position, chances are it is good debt. Your home, for example, was probably one of the best investments you’ve ever made.
Bad debt, on the other hand, steals your money and produces no income or cash flow. It is money borrowed for something that loses value, such as a car, clothing, and electronics, to name a few. Earlier this year, the Federal Reserve reported 2005 numbers on consumer debt: Non-mortgage consumer debt climbed to $2.1 trillion. Based on that number, the average household has more than $17,000 in bad debt. Considering that most families have at least one car loan on top of the credit card debt they might be carrying, $17,000 actually seems low to me.
For whatever reason, most of us don’t think that our car payments are bad debt. I think we have to remind ourselves that car loans are bad debt. Most new-car buyers are unaware that they are choosing the rich, but short-lived, new-car smell over long-term financial fitness.
Why do I say this? Well, it has long been established that a new car depreciates an average of 20% in just the first year. Thus, it makes more sense to buy a pre-owned vehicle and let the first owner swallow that first big chunk of depreciation for you. Here’s an example of how doing that would contribute
Several years ago, I had a real eye-opener from one of my patients.He was from an island somewhere in the Pacific and when I asked him about his homeland, he made the comment that he really missed living by island time. Not knowing exactly what he meant, I asked what this was, and his answer really awakened me as to how we exist in the high tech world in which we live.In a nutshell I learned that the inhabitants got up when the sun came up, and went to bed when the sun went down. Cars were almost non-existent, and when you said you were coming to see someone, no time was specified, and it meant I will see yo
Bad debt, on the other hand, steals your money and produces no income or cash flow. It is money borrowed for something that loses value, such as a car, clothing, and electronics, to name a few. Earlier this year, the Federal Reserve reported 2005 numbers on consumer debt: Non-mortgage consumer debt climbed to $2.1 trillion. Based on that number, the average household has more than $17,000 in bad debt. Considering that most families have at least one car loan on top of the credit card debt they might be carrying, $17,000 actually seems low to me.
For whatever reason, most of us don’t think that our car payments are bad debt. I think we have to remind ourselves that car loans are bad debt. Most new-car buyers are unaware that they are choosing the rich, but short-lived, new-car smell over long-term financial fitness.
Why do I say this? Well, it has long been established that a new car depreciates an average of 20% in just the first year. Thus, it makes more sense to buy a pre-owned vehicle and let the first owner swallow that first big chunk of depreciation for you. Here’s an example of how doing that would contribute
Merchants have nothing to lose if you sign up to sell their products on your website. Or do they? Merchants, or advertisers, have a brand to protect, and don’t want to sign up just anybody as affiliates.Think of what it would be like if they hired a commission-only salesperson in the offline world. This too is pay for performance, but if the salesperson representing them in unkempt, doesn’t know the product, does a bad job qualifying potential buyers, the merchant looks bad. They spend time setting the salesperson up on the payroll system, giving them training and materials and coaching. Time and money they cou
For whatever reason, most of us don’t think that our car payments are bad debt. I think we have to remind ourselves that car loans are bad debt. Most new-car buyers are unaware that they are choosing the rich, but short-lived, new-car smell over long-term financial fitness.
Why do I say this? Well, it has long been established that a new car depreciates an average of 20% in just the first year. Thus, it makes more sense to buy a pre-owned vehicle and let the first owner swallow that first big chunk of depreciation for you. Here’s an example of how doing that would contribute
Online recruiting has come a long way from the days of bulletin board systems, r?sum? uploads, jobs via email, and candidate matching tools. There's a whole world of recruiting solutions that are just surfacing, and most HR and recruiting professionals aren't even aware of them.In this article I discuss the movement from offline to online recruiting and a range of new recruiting tools that are influencing the future, plus some simple things you can do to make your own job listings easier to find online.Let's start with a brief retrospective. In the not too distant past, if you wanted to hire someone, you'd so
For whatever reason, most of us don’t think that our car payments are bad debt. I think we have to remind ourselves that car loans are bad debt. Most new-car buyers are unaware that they are choosing the rich, but short-lived, new-car smell over long-term financial fitness.
Why do I say this? Well, it has long been established that a new car depreciates an average of 20% in just the first year. Thus, it makes more sense to buy a pre-owned vehicle and let the first owner swallow that first big chunk of depreciation for you. Here’s an example of how doing that would contribute
What are Forex signals? Forex signals are paid services offered by some brokers and independent Forex annalists. Companies that offer forex signals monitor and analyze the market for you, providing you with their data via desktop alerts, email or even SMS and pager alerts.Forex signal services analyze several factors when preparing their data. They do a technical analysis of market conditions and use a combination of indicators to identify trends and isolate profitable entry and exit points. They then send you the results via the venue of your choice and you can choose to use the signal in your own trading, or p
Why do I say this? Well, it has long been established that a new car depreciates an average of 20% in just the first year. Thus, it makes more sense to buy a pre-owned vehicle and let the first owner swallow that first big chunk of depreciation for you. Here’s an example of how doing that would contribute greatly to your long-term financial success. The popular 2006 Toyota Camry or Honda Accord costs roughly $25,000 new. What if, instead of buying that brand new car, you purchased a two-year-old, pre-owned vehicle for $15,000 and invested the other $10,000? In this example, if you were to invest the $10,000 in a mutual fund earning 8% and leave it alone for the next 30 years, you would have stockpiled a little more than $100,000. And, if you left it alone for another 10 years, it would grow to about $217,000—all because you made a wise decision about buying a car 40 years earlier.
The other area that attracts bad debt is money we spend on clothing, electronics and eating out. The truth is that most of this spending winds up on credit cards. My wife and I are diligent in keeping a budget and it still amazes me that at the end of every month, when we review the VISA bill together, we are dumbfounded as to how it got so high. Upon review, however, we cannot disagree with the charges and commit to once again trying to make responsible purchases.
As consumers, we all need to use credit wisely and pay it off at the end of every month. I can’t stress this enough. If you don’t have the ability to pay your credit card bill off each month then the reality of your situation is that you are spending more that you are making.
One of the best ways to tackle your credit card balances is to stop using credit c
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