The more people you help get what they want the more yoy will get what you want. Be willing to help others with nothing in return, seek large networks.
When it comes to your personal finances, 2014 may be your best chance to take advantage of low interest rates and get out of debt — before it really starts costing you.
Since the 2008 financial crisis, the Fed has made monthly bond purchases in order to keep rates extraordinarily low and encourage consumer spending and borrowing. With the economy on the mend, the Fed is now slowly pulling back on those purchases, or tapering.
Long-term interest rates have already risen in anticipation of the Fed’s decision, so there likely won’t be a rapid spike in mortgage rates, which are already more than a percentage point higher than last year’s historic lows. Still, prospective borrowers could see mortgage rates reach more than 5% this year as the economy continues to strengthen, said Keith Gumbinger, vice president at mortgage information site HSH Associates.
But many other consumer loans should remain cheap since they are tied to short-term interest rates, which the Fed has committed to keeping near zero.
The so-called prime rate, the rate at which banks lend to their best customers, has stayed at 3.25% since 2008 and isn’t expected to move higher in 2014. As a result, borrowers will continue to enjoy lower rates on student loans, car loans and credit cards, among other short-term loans.
But that won’t always be the case, and that makes now a good time to tackle those credit card bills, said Greg McBride, senior financial analyst at Bankrate.com.
“The message I would give to borrowers is 2014 could be your last hurrah,” he said. “The days are numbered. It makes sense to plan accordingly and really start to hammer away.”
Currently, credit cards are charging an average annual percentage rate of around 15%. While borrowers with poor credit can face higher double-digit rates, the most creditworthy consumers will continue to see APRs in the single digits, and will receive 0% introductory offers for as long as 18 months, said McBride.
Even the difference of a few percentage points can make a big difference.
Let’s say you resolve to pay off $5,000 worth of credit card debt in a year. A card with a 10% interest rate would ultimately result in $275 in interest payments on top of the $5,000. If the interest rate were to jump to 15%, the same payoff would require $416 in interest, an increase of more than 50%.
Car loans are also expected to stay near record lows this year, with 3% to 4% offers remaining fairly common, McBride said.
Similar to car loans, many private student loan borrowers will continue to enjoy low single-digit rates. But that doesn’t mean they will stay there. Private student loans are typically tied to the prime rate or the rate at which banks lend to other banks, called Libor.
That makes it a good time to pay down that student loan bill, since these loans typically carry variable rates that will jump when rates rise in coming years.
But there’s also a downside to low interest rates. It will be yet another frustrating year for savers. Savings accounts, money market accounts and short-term certificates of deposit will continue to have average returns far below 1%. A typical savings account with deposits of $1,000, for example, will earn less than $1 in annual interest.
Five-year CDs, which currently have average returns of around 0.8%, may offer slightly higher rates later this year but returns will remain paltry.
“The bottom line is [rates] could double, and it still wouldn’t be enough to get you off the couch,” he said.
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Original post can be found here http://finance.yahoo.com/news/why-2014-debt-091300228.html
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Understand that building a successful business takes patience, commitment, and hard work. The first thing we want growing over time is our customer base. Businesses are dependent on its customers who keep the business alive. Finding these customers is not an easy task but very simple. You can have the best products and services, but without the right type of customer, your business go move slow.
The internet became a wealth of information in an instant. Over 90 percent of the United States shopped online since 2005 and that number is rising rapidly. Since then, that’s over one billion annually spent shopping online. I n a superb business world, customers would be readily available to buy our products and/or services but in the real world, we have to find those customers and show them why they should choose our company. I want to give you a few good places to find these laser targeted customers that will grow your business.
Social Media – According to a study by Nielson.com, almost 50 percent of global internet shoppers rely on social media sites to assist them in their purchasing decisions. With those kind of stats, I have to wonder why you wouldn’t engage in social media sites in search of quality customers. The most visited sites to find customers are Google+, Facebook, LinkedIn, and Pinterest. When you look around, there is always someone around using their smartphone to check social media sites. The idea is to dominate social media and build long lasting relationships that can convert into customers or business partners.
Home Meetings – These home seminars can allow you to share your products and services in a delightful way. Networking with as many people as possible are great ways to acquire new customers. This home meeting should be something very memorable and fun. Let your potential customers know how important they are to you.
Search Engines – If you understand Search Engine Optimization, you know the potential for traffic. Targeted traffic is considered customers and business partners. One of the most important things to remember when using search engines is the right keywords. Whatever words people are searching for the most is considered a highly competitive keywords. For example, if I was looking to find information about animals, my keywords can be dog, cat, tiger, etc. Regularly update your site at least every other day. Work on getting quality backlinks to your site. Have a site map on your site. Add quality content to your site. Use those strategies and many more to get higher rankings in the search engines.
Blogs – Commenting on other blogs and interacting with people are other effective ways to let people know about you and your business. Never post comments like “I agree” or “Me too;” you need to get involved in the conversation and provide some substance.
Web Directories – It’s very wise to get your site listed in as many directories as possible. These directories are used to guide people to the sites they want to find. There are many out there with a little internet search.
Community Events – This is another great place to find quality customers and business partners. Being involved with your community events allow opportunities to network. Everyone should know about your business if you think it can benefit them.
Message Boards – This is where you can interact with other board members. You can offer advice and knowledge in these message boards and forums. Get involved in the discussions, and help whenever you can. Building your reputation and relationships in this manner is a powerful way to find potential customers.
Article Directories – Creating articles demonstrates what you and your business about. If you can provide informative content, people will visit your site, and once they get there you need to keep them there long enough for them to become customers.
Customers, even the difficult ones, are to be treated with respect at all times. You need to show them why they should come to you for solutions. Do not be dishonest and sell dreams, they will eventually see through your deceit and you will lose out. Utilize these sources and reap thousands of new customers.
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In today’s economy, everyone is out to make a profit. Your bank is in the business of making money just like you, and the banks are looking for ways to make more money from you. The banks are considered minimal to the identity thieves, but anything pertaining to your finances is very important. I will be covering a few mistakes to avoid when banking.
First thing to do is look for those new and increasingly oppressive bank charges. These can be ATM fees, overdrafts, and certain transfers. Most of these fees has risen to record highs for the seven years in a row. Look at these stats according to Pew Charitable Trusts, $30 billion in 2012 was the revenue for overdraft fees. Those stats have tripled since 2004 and continue to rise in the future. According to a report from the Consumer Financial Protection Bureau, overdraft penalties now represent over half of banks’ fees from consumer checking accounts. You have to be mindful that if you bounce a check, you will be hit with an oppressive overdraft fee. Sometimes banks may credit overdraft fees in the beginning but after one or two they will love to charge them. This is one of the most profitable ploys for the banks. Many banks now automatically enroll their checking account holders in an overdraft protection program that allows them to charge you as much as $35 when you fall short.
Never leave a paper trail of your private information, online thieves thrive on this. I recommend a paper shredder to destroy personal financial information. Leaving out bank statements, voided checks, and other banking information can be an easy target for cyber criminals.
When using an online password, include uppercase, lowercase, numbers, symbols, and words so it would be difficult to figure out. There are more people relying on online banking because it’s more convenient and this has become a target for cyber-crime.
When depositing money don’t deposit it into a checking account, put it in a money market account to get a better interest rate. You can transfer funds from your money market account into your checking account.
Also monitor your bank statements frequently, this will ensure accuracy. Another mistake is to overlook dangers of ATMs. Crimes involving ATMs are growing rapidly nationwide. Be aware who is around you and shield your pin when typing it in. Put your money away before walking back to your car and make sure you have your card.
Check around for better interest rates if you need a loan. Don’t just stop at your regular banker, look around.
You shouldn’t opt-out of receiving paper statements each month, this is good for the company but bad for you and your business. It’s a lot easier to spot errors when you look over the paper statement than on a website. You want to be in control of your transactions online and offline.
Avoid phishing e-mails, these are e-mails from scammers that look very authentic asking for personal or business information. Most of these e-mails will ask for your name, date of birth, social security number, phone numbers, and bank or credit card accounts numbers. Never provide this information in response to an e-mail, no matter how real they look. Legitimate companies and banks will never ask you to provide that kind of information in a response e-mail.
In conclusion, follow these suggestions and create more as you go to avoid banking issues.
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We all need a “reason why” that’s get us up each morning. We need a large vision for our lives that we can live into and use as leverage on ourselves when we simply “don’t feel like doing it.”
You Most Important Tool
The first thing to do is get yourself a stopwatch/timer and calculator.
You want to start out with just 2 hours per day. We are going to use the timer to measure and reinforce our productive minutes. For example, use 60 uninterrupted chinks of minutes with your timer, these are productive minutes. During these productive minutes, you will do nothing but work on your business, reading, marketing, adding systems, etc.
During your productive minutes, you do NOT go to the bathroom, get something to eat/drink, check your facebook, call your girl/boyfriend etc. Please recognize this is easier said than done. Catch your little voice distracting you. These are hidden fears at work and we are going to use your timer to create new habits.
What you will find is that 60 productive minutes are extremely powerful, they create momentum. What you out will ultimately start to come back in rapid and repeated business partners. Remember you are the CEO of your business and your business is only as strong as your mindset.
The formula for success is success=skillset + mindset
Let me explain, skillset is what we are taught in every network marketing training program. It is the tools and skills associated with marketing to attract leaders. There is plenty of good skillset training available. Mindset is the internal game. It is the psychology of success and wealth. It is mental reconditioning to repattern our subconscious our subconscious into supportive beliefs that create new daily habits that propel us to a different future. Pay attention to this. Please don’t shrug this off as New Age Fu-Fu. If you are still thinking this is not important. Consider this… How important do you think the mental game is/was to Michael Jordan, Tiger Woods or Donald Trump? They look at and interpret their surroundings in totally different way than people operating at levels below them. Obviously, they have tremendous skillset training but they have combined that with an awesome mindset.
In conclusion you will have momentum in your new business, we need momentum to keep pushing forward. Start small and work your way up the ladder.
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