We’d all like to build up a steady reserve of funds, but the truth is that for most of us, living paycheck to paycheck has become the norm. This is due largely to the fact that the more bills we have, the harder the bills are to keep up with all it takes is a few missed payments before our credit has become irreparably damaged. While bad credit isn’t going to keep you from doing most of the things you want to do, there are some circumstances in which poor credit scores can place you in a bind. Luckily there are bad credit personal loans available for the people who need them. Finding them is simply a matter of doing your research.

Being granted a personal loan rests solely on your ability to demonstrate that you will be able to repay the loan yourself. With a personal loan, there is generally no need for collateral. Typically, your lender will look at your credit scores and credit history to learn more about your history of bill repayment. Depending on which state you live in, repayment problems as old as a decade could affect your score and make it hard (in some cases impossible) to be granted a loan through a normal lending institution.

Thankfully, there are loans that were created specifically for people whose credit is bad (or trending in that direction). Often, the lenders who grant these types of loans build their own criteria from which to judge whether or not you qualify for their loans. There are plenty of people who haven’t been able to obtain any “normal” personal loans but find that these special loans are just what they were looking for and are able to get the funds they need.

For example, loans for people with bad credit are good when you don’t need a lot of money. Perhaps you simply need a payday loan to keep your bank balance in the black until your next paycheck. While payday loans are not the best loans to take out, if you are responsible about paying them back on time, they do provide you with financial help when you need them. What really works in their favor is that they do not affect your credit score. Typically all you need to have is a checking account that has a positive history and some sort of proof of regular employment (typically more than a month at a job is required). Of course, these loans come with high interest attached–even if they are paid back on time and in full.

Rest assured that even if banks have denied you personal loans, there are bad credit personal loans that are available. If you are granted a bad credit personal loan make sure that you set up a repayment schedule and stick to it. This will ensure that your credit score will go up and future loans will be possible.

You can find out more about Bad Credit Personal Loans as well as much more information on everything to do with Bad Credit Personal Loans at http://www.BadCreditPersonalLoansA-Z.com

Most people think that once their credit scores hit the “risk” level that they have no options available to them if they ever need financial help. That couldn’t be farther from the truth! There are plenty of ways for people with bad credit to get financial help and small personal loans.

One of the easiest ways of getting the funds you need is most commonly through a payday loan. Payday loans are available in smaller sums. Typically the largest payday loan you will be able to get is five hundred dollars. If this is more than you need, then a payday loan is absolutely your best bet. The best part about these small loans is that most of the companies who offer them don’t check your credit score. Usually, the only qualifications for approval are a checking account that is in good standing at your bank and steady employment (they like to see between one and three months at your current job).

The downside to these types of small loans is that the interest rates are usually sky high and the loans are often charged a fee that gets added to the repayment amount. It is vital that you will be able to pay these loans back on time and in full or you could get hit with ridiculously high repayment costs. And it pays to check around at a few different companies to get your best rates.

Another option for bad credit small personal loans is a secured credit card. While this isn’t technically a loan, it will help you get through a financially trying time. A secured credit card is a card that comes with an initial “start up” fee that gets charged against your credit limit. Depending on the amount of credit that you have been given, the fee might be the deciding factor in whether or not you accept the card. A fifty dollar fee charged to a card with a two hundred and fifty dollar limit, for example, is not an option that you should take.

If you have the opportunity to choose between a secured credit card and a payday loan, the secured credit card is a better investment than a payday loan. This is because when you make your payments on time you are taking steps to raise your credit score and create a positive repayment history. This will make it easier for you to be approved for loans later on.

The important thing to remember is that having bad credit is not the end of the world. Small personal loans with bad credit are entirely possible. What’s more, a bad credit score is only temporary! It is possible to rebuild your credit score and repayment history in a relatively short amount of time.

You can find out more about Small Personal Loans With Bad Credit as well as much more information on all types of personal loans at http://www.PersonalLoansA-Z.com.

The goal is to use debt to purchase things that appreciate in value. Most people get into bad cycles of debt because they buy things that depreciate in value. A new sports car for example depreciates 20% as soon as you drive it out of the car dealership. It is now only worth 80% of what you paid for it and you and you need to continue to pay interest on that 20% that you lost.

However if you bought a house, and you bought it for $500,000 and it went up 10% per year you could make $50,000 per year, and if your repayments were 7% per year you would pay $35,000 in interest. You would therefore make $15,000 / year.

Things such as clothes, food, entertainment and technology all decrease in value over time as they get used and as new technology is created that is better than what you have bought. You should try to avoid buying these things on credit as you will pay more for it than what it is worth. Try to buy these things with money that you actually have and instead buy things that appreciate in value with money you have borrowed. This way your wealth will continue to grow.

Note: Items such as cars and computers can be worth purchasing with borrowed money as they may allow you to have the ability to work from home or travel to work which you wouldn’t have been able to do otherwise. In this sense they are items that are helping you earn money.

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First, what does your income to debt ratio look like? This is one of the clearest indicators of whether or not a person has amassed an unsafe or dangerous amount of debt in their life. For most people, it can be helpful to look at this ratio at least once a month to not be caught unaware by debt. In order to calculate this ratio or percentage, take the total amount of debt or debt payments that you have each month and divide this number by the amount of income that you make each month. A decimal number will result, and you will need to multiply this number by one hundred (100) in order to get a percentage. Is your percentage under forty (40) percent? If not, you are likely involved in more debt than you should be.

It can also be dangerous if you find yourself making higher and higher minimum debt payments. This means that you are continuing to spend money, even as you become more immersed in debt. You may also be in danger if you are unsure of how much debt you actually owe to one or more debt collection agencies. Individuals need to be aware of this amount on a consistent basis; out of sight, out of mind is not a mantra that works well with debt. Keep in mind that debt collection agencies can include credit card companies since, in general, you are paying these companies back for their upfront coverage of purchases. You are indebted to them and you need to know that they qualify as debt collectors. Remember that making more-than-minimum payments can help you get out of debt faster. Take note if you are entirely unable to pay more than the minimum amounts due. Also keep in mind, month-to-month necessities, such as groceries, should not need to be paid with a credit card. They are necessities every month and your budget should allow for them without the implementation of credit cards. Also be careful if you are near the maximum spending limit on one or all of your available credit cards.

When your credit card becomes declined, this is a big hint for people that they are in too much debt. Credit limits are set for a reason. Companies look at what you can afford and what, beyond that amount, would result in a liability for the company. If you attempt to make a purchase and are declined, you are likely in too much debt. At the same time, if you begin to get phone calls from companies that you are involved with or collection agencies, you are not making payments as you should be. This can begin to affect the sleep and relaxation practices of many people, understandable so, and by first recognizing that they are in too much debt and then by beginning to pay these debts off, the individuals can improve the overall quality of their lives.

If you have lost your savings due to trying to pay off debt, this is another red flag. No matter your debt, you should still be able to keep your savings safe. The same is true for emergency funds. Those funds should still be available should the individual experience emergency situations.

Susan Duey represents, Credit Card Debt marketplace offering credit card debt consolidation solution to eliminate your debt and cut expenses. For more information please visit What Are the Warning Signs that I am in Too Much Debt?

Rather than suffer sleepless nights, consider what can be done and then when and how a chosen path will be executed. So that need and potential benefit may be measured, professionals have isolated six steps that serve to identify available direction for a business manager. Once aware of these six, a business debtor can better determine which to use to best resolve an existing situation. But first, it is best to discuss the six with an attorney and/or accountant, or a trusted advisor to obtain input and endorsement of the preferred chosen path.

This review, with an already trusted professional is particularly recommended for a debtor’s peace of mind. In essence, he will gain support for what he wants to do. Also this is suggested to determine which professional should be engaged to fulfill the selected action. When one decides which movie to see, anyone’s advice may be taken. To decide which cancer treatment to try, it’s better to select a trusted professional.

Knowing what steps are available provides a track to run on; that alone serves to reduce personal stress. Many will find these steps basic, they feel they know all this. Yet, when deciding which fits a considered need the selected process should be coupled with a realization that each step requires a different activity and more than likely a different professional. Being able to select where to start, and which professional to engage will best assure the result (read success) you desire.

Professional implementation at any of the six ‘levels is always better than to act alone. Here are the six defined workout processes; they are listed in order of the most to the least desirable.

Rehabilitation, or extreme cost cutting. Refinancing, to find new sources of capital. Seek new equity, exchange some ownership for capital. Debt Resolution, the process of delay and/or attaining satisfying settlement with creditors. Sale of a going business. Liquidation, using a variety of options such as selling pieces of the business, the whole business, or the act of bankruptcy (which sadly often includes the owner/officer and possibly his/her spouse).

A business owner/manager should reach for help sooner, not later. Having a known advisor’s review of these points and then engaging professional help will complete the selected but workable process far better than if individually attempted without use of an experienced professional. There is no substitute for experience, one should not attempt to work these processes alone. Engage a professional, one who is experienced and capable in the selected activity. Doing so leaves the business manager free to run his business. Business survival is a destination reached by consideration of which road is to be followed.

Steve Newman, is President of Performance Source Inc, since 1963 serving businesses nationwide that have debt they want to pay but can’t. PSI’s process can be seen on line at http://www.performancesourceinc.com We welcome comments and questions at snewman@psi1963.com.

Step One;

The first and best thing to do is get all your credit card

bills together. You can do this in tabular form by creating a table with about five columns. Each column should have the following headings arranged from left to right.

Credit Card- Account Number -Amount Owed-Minimum Payment-Interest Rate.

Step Two;

The next step in reducing credit debt is to decide on the minimum

payments on your credit cards. This is because Credit card companies require a minimum

payment each month. Look at your spending and see if you need to make cuts to find

the money to pay your credit card bills.

Step Three;

The next reasonable step is to look at your different debts and set

priorities for your repayments. Which debt will you pay first? Once you have a set plan, you

are on your way to reducing your debt.

Step Four;

After you have made a table as stated in step one, cut down on some purchases to make room for repayments as in step two and you have decided which debts to pay first, the next thing is to choose strategies to cut down your debts as soon as possible. These strategies can include the act of paying high-rate cards first or paying off cards with the smallest balances first, deciding to stop making new charges; making power payments or even getting a cheaper credit card.

Step Five;

Try to increase the amount of the minimum balance you will repay each month as soon as you start seeing the result of applying the strategies. It is not easy to reduce your credit debt and meet all your other obligations at the same time. Remember that you eat an elephant one bite at a time.

If these steps are helpful, why not find out more of

how to get rid of debt easily on this website? You will be surprised at what you will see.

In this article I will present my answer to this question. If you have a steady job (maybe even two), with long working hours each week, this article is for you. You will learn the steps you need to take in order to build your income and control your financial world.

It had all begun, when I realized that I should do something more, to generate extra income, but what? I also realized, that there aren’t enough hours in the day to take up extra work in another job and even then, how much more can I earn? Out of multiple jobs or from working over time, I will not triple my income or make enough money to start building my wealth.

So what should you do? How do you actually become rich? Does it happen only by getting an inheritance, or by passive income generating from many assets? All these are great, but I don’t have them – yet.
Then, I discovered that I should start thinking differently and start doing things in a different way than the way I did things until now.

The answer to “how to become rich” begins with this basic equation – the total of all earnings should be grater then the total of all expenses (you must know that equation). Although it is a simple one, the human nature does not enable its existence in a proper way. If it is on account of habitual expanses or the aspiration to modernize the living standard and its quality, if for ourselves or in order to provide the competitive-social urge.

In order to become rich, a number of conditions should be met:

1. You need to start thinking like a rich man, i.e. to know at any given moment how much money do you have and how these funds are distributed – Is it allotted to luxury, to expenses of sustenance, or on investments, etc.? (you can do it by reading Kiyosaki’s book “Rich Dad, Poor Dad”)

2. It is up to you, to acquire a suitable education in the field of money management in the most basic level, such as, How to leverage your extra money (there is always extra, “luxury” money, it all comes down to the question of preferences)? You need to learn how to manage risks in online and offline investments, the stock exchange or even at your own bank.
Then, with that “luxury” money and with the proper leveraging, you will be able to invest in opportunities that will yield a passive income on a monthly basis for a meaningful yearly extra income.

3. Last but certainly not least, you must take the first step ahead and decide to implement sections 1 and 2. You must understand, those two simple (but hard to do) sections, are the only thing that separates you from having financial freedom.

No, it is not easy and also requires great courage, therefore, 95% of the population remains only with the desire to be rich. If you didn’t inherit large amounts of money or assets, you need to know that to become rich or a millionaire, does not happen over night. This is a process you should endeavor for and build gradually by thinking and planning for the long run in order to succeed; But it is definitely possible.

If you will not make any changes in your present carrying on, in another five or ten years from now, there will be no drastic change in your financial status. The good news is, that you can implement the steps described above, change your expanse habits and your financial decisions and make the dream to become rich come true.

Who are those rich, millionaire people? They are people like you that have the courage to think and do things differently, they don’t necessarily have high education or have received a big inheritance. They simply dared to think on a major scale and took the risk, which lies within the change itself. I have realized that not everyone wants to be rich and not everyone should be rich, but if you imagine yourself with financial freedom and dare to dream, you should know, it is within your possibility to arrive there.

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Some other facts:

Sometimes IVA debt solution is considered as bankruptcy by common people, but this is completely different from bankruptcy. It is completely kept secrete and thus no one knows about the poor financial status of the debtor. Also it saves a lot of your money as it is much cheaper than any other debt solution programs. You can only apply for IVA debt solution when your are unable to make monthly installments on your debts at the current level of minimum payment and interest rate. Opting for an IVA doesn’t hammer your credit score but all of them will b inactive once you enter the agreement. After that you can’t apply for other loans or credit card, but your credit score will keep on increasing till you are regular in repayment.

Advantages:

IVA debt solution has got a lot of advantages such as

a) The interest rate is frozen.

b) Only an affordable amount is paid each month.

c) The bankruptcy condition is avoided.

d) A creditor neither takes any legal action against debtor nor can he request to change the agreed monthly payment.

e) IVA is kept completely private and no one knows about your financial status.

f) IN some ways it improves your credit record.

g) Your property such as home is not risked when you choose IVA.

Achala Afreen is a senior financial analyst at loans. His articles offer useful advice for the UK residents pertaining to finnacial matters. For more information about IVA information, IVA for people with bankruptcy, IVA advice, IVA information for UK people visit http://www.ivainformation.net

The 2008 tax rebate check is really just a fish. What I mean is that its just a fish for a day. It won’t pay off your debt or send your kids to college. it won’t make a dent in your financial crisis or giving you the opportunity to do the things you love. When you utilize the worksheets, tutorials and the book “$500 Startup” you will find that the IRS tax rebate check is more than a car payment and a nice dinner, it’s a chance to create some financial security. You can take it to help fund your work at home internet business and turn that “fish” into a fishing pole.

Here is how its possible to own your own home based business, thanks to the miracle powers of the internet and a general budget you can see that it is indeed more than reasonable to have a work at home business.

Forget a $2000 a month office. You are going to use an online storefront that you can build yourself. Expect to pay about $80. Couple it with a virtual office for those times you need to hold meetings. $65 a month plus $15 hr for conference rooms

TV & radio at $4000 a month. Nope. TiVo killed that. You can make your own YouTube commercials and audio shows for $120 or less. And they will play online forever.

Phone and fax systems costing thousands. No way! Got Vmail and Fax.com will handle all of that for as little as $20 a month combined.

Inhouse sales team with big salaries. Maybe in the old days. You can get other website owners to market your stuff for a commission that you set. Its called affiliate marketing and you only pay when someone sells something.

Secretary to answer your phones and read books on the clock? Ha! A virtual assistant will do it for you for a low cost and no benefits.

Think you need a warehouse? Think again. Drop shippers will handle all of your shipping needs or deliver information products digitally. No upfront costs here guys.

Are you getting the picture? Its a virtual world.You can have a Fortune 500 looking company for less than $500. So what was holding you back from business again?

Starting a profitable internet business is easy with a system, information, education, plan, determination and an excellent product or service. There are many great books for you to read to learn the key elements to marketing, advertising, sales, finance, accounting and to really drill into and focus on home based business opportunities, then add “$500 Startup” to your list. It picks up where Tim Ferris of “4-Hour Work Week” left off and it believes in bringing entrepreneurship to everyone. The book and fully guided course, worksheets and tutorials shows you how easy it is and how anyone can do it. Getting out of debt has never been easier than now with solid Internet business opportunities as your ticket out of your financial woes.

http://www.500DollarStartup.com is the official website for the popular book “$500 Startup” written by successful Entrepreneur and Author Ben Peterson. Through his business ventures and counseling, Ben has helped his clients do more than $200 million in sales. 500DollarStartup.com is the simple and complete guide to starting your own online business. The book’s website is a fully developed system which includes free reports, worksheets, how to videos, audios and blogs to give you the step by step lessons you need to succeed. It shows you how anyone can do this. It keeps you on the cutting edge so that anyone that wants to can become an online entrepreneur. 500DollarStartup.com is a powerful resource, course, report newsletter and club for you to join and learn with other aspiring work from home entrepreneurs or already existing home based companies that are just looking to do it better.

They may look affluent and rich, but they are only renting a life style. Most of these people, they are only 2 to 3 months away from being homeless and having their luxury cars and houses repossessed if they ever lose their income from their job.

A friend of mine, she and her husband have to work 50 to 60 hours/week Monday to Sunday, so they can pay for their town house mortgage. Every time my wife and I visit her at the restaurant where she works, she told us that she and her husband are tired, and they don’t have time to spend with each other, because they work from Monday to Sunday. When they decided to buy their town house, the mortgage broker forgot to mention about the CCNR fee, and other fees that comes from owning the town house. Their mortgage is around $2700 plus the CCNR fee, electricity, phone, and other expenses. They can easily spend over $3500/month! I felt really bad one day when I saw her getting sick, but she had to go to work on Sunday, because if she didn’t go to work, she was afraid that she wouldn’t have enough money to pay for the house monthly payment. What made the story worse, her husband lost his job! I won’t into details.

Why do a lot of people drive a luxury car that they can’t afford yet? It doesn’t make sense to pay $200 to $1500 a month to pay for a luxury car that we use to go to our work place, and use the income from the work place to pay the bank, so we can keep the car! Also, don’t forget about the monthly interest that the bank charges.

I met a young lady in her early twenty who told me that she didn’t use finance to buy her car but she leases her car! She thought the best way to own a car is to lease it, so I asked her, what would happen to her car if she didn’t pay the monthly lease. She said, the car company would take the car back! At that moment she realized that she doesn’t really own the car. She was just renting it from the lease car company. She had to work hard to earn some money to pay her car monthly lease. If she bought the car cash, she wouldn’t have to work so hard to keep her car.

We have to stop thinking about how much monthly payment we can afford. It is not smart to finance something that loses values and depreciates. If you haven’t read the book, Millionaire Next Door, you may want to buy and read it. The book Millionaire Next Door, the author says that most American millionaires drive 3 to 5 year old car that they pay cash for it. They use their money to invest to their wealth accumulation investments, instead using their money to pay the bank’s interest charge!

When you buy a car on finance, you are like renting the car! What happened if you don’t pay a house or an apartment rent? You will get evicted; your landlord will kick you out of the apartment. It’s the same with buying a car by using credit, if you can’t pay for the monthly payment, the bank will evict you from owning the car.

Before I learned the danger of owning a car through easy monthly financing and payment, I decided to buy myself a Lincoln Navigator through the car dealer financing Labor Day special! It was one of the biggest mistakes of my life, because I agreed to pay $10,000 down payment and $265/month for the SUV. Before long I realized that the cost of the gasoline was around $400 to $600/month. That’s before the gas price went up to $3.00/gallon. So when we added the car monthly payment plus the gas price, we easily spent $700 to $8000/month just to keep the SUV running.

Since we were so broke, we had to learn how to write a financial statement report to see where our money went! After we created a financial statement report, it was like an X-RAY to our financial problem, we could see where the problem was and where our money went, the money went to the monthly payment and maintenance of the SUV!

The credit unions that lend me the money charges $100 at least every time I made a payment. I asked the lady who worked there why they had to charge $100 for each car payment I made; she told me that they were collecting the interest for the loan up front! So every time I paid $265/month for the SUV, they took $100 for the interest and the $165 toward the principal of the loan.

It was hard to sleep at night when I had to think about the cost of owning the SUV; I was scared that our SUV would be repossessed by the credit unions if I failed to pay the monthly payments. Within 9 months, we decided to sell the SUV and it was a relief.

I saw an advertisement on a car magazine, the owner of 2005 Porsche Boxster Sport advertised his 2005 Porsche for $10,000 and then it said; please take over the car payment of $750/month! My wife and I said “Wow, $750/month!” We thought paying $265/month for our Lincoln Navigator was pretty bad.

Today we drive a Chrysler 300M car that we paid cash for it! It’s not as big as the SUV, but we feel good driving it, because we own the car, and no bank will repossess the car if they don’t make the monthly payment. In fact, since we paid for it cash, we don’t have monthly payment! We can use the $265 that we used to pay the bank for the SUV for our investment account.

In December 2005, I decided to buy John Cummuta’s series, Turning Debt into Wealth for my own Christmas present. I love what John Cummuta said about the new car smell, if we like the new car smell, they sell it in a spray can and you can spray it inside your car if you just want to smell the new car scent. I have not met John Cummuta personally, but he has become my great financial intelligent and literacy mentor and I am thankful that I found his audio series, because John Cummuta has taught me a lot about not to go into debt and taught me a lot on how to build wealth.

Every time my emotion goes crazy about buying a new car or buying something on credit, I will listen to his CDs series over and over again as a reminder of the danger of getting into debt. Another thing that I learned from him is, when you don’t feel good or depressed, and you are tempted to buy things on credit to make yourself feel good, you can go ahead take a hot shower or bath, so you will feel better. If you haven’t had the chance to listen to John Cummuta’s audio series, I encourage you to invest your money to buy it. John will give you a great revelation about the danger of getting into debt, teach you how to get out of it and start building your financial future.

One of the costliest things in our life is being ignorant and remains ignorant for the rest of our life is dangerous.

If you are serious about improving your financial life, you must take a serious step and action to achieve it. A journey of thousand miles begins with one step. If you don’t make the first step today, you won’t go anywhere near your goal and dream.

So how can you avoid of going broke?

1. If you can’t afford to buy a luxury car, don’t buy it! I know that the credit industry will try to seduce you into getting the 0 down payments and easy monthly payment. When you see that advertised at a car dealership, I suggest that you run away and don’t even think of getting into debt to buy a car. So how can you buy a car then? One of the nicest places to buy cars cash is a public auction. They have a great auction place in Los Angeles; you can buy a car for $2000 or less cash! Save your money, and then when you have enough cash to buy one, buy it cash. Why do you want to buy your car cash? You will have a better bargaining position, you can bargain for the car you want.

2. If you can’t afford to buy a very expensive house, buy the one that is on your affordability range. Forcing yourself to get into a $500,000 or $700,000 house before you can afford it, is like setting yourself up for a long term financial disaster. Also don’t buy a house if you are not planning to stay in the area long enough. I love my mortgage broker; he would go with me into details about getting a mortgage. He would talk about I could afford and he wouldn’t give me a mortgage just because he wanted to make a commission out of it. He went through my financial statement and he helped me to make a wise decision whether it was a good time for me to buy a house, or to buy an investment property.

3. Increase your financial knowledge and literacy. Department of Motor Vehicle will not issue a driver license to drivers who are not ready to drive and have not taken the driving tests. I know some people will drive illegally and get themselves into a lot of troubles. You don’t just get into a car and start driving well in one day. Most people have to go through a learning process before they can drive a car. The DMV wants people to learn about the traffic signs, how to merge, and to park because they don’t want you to get into troubles when you drive your car. One of the biggest mistakes people ever make is; they never invest their time to learn how to be smart financially and how to invest their time and money.

Earl Nightingale said that it is foolish when we expect great things in our life for nothing. When you want to become good in something, you must be willing to learn and to study the subject that you want to be good at. When you want to go to a doctor, you have to make sure your doctor has gone though a lot of trainings and have a lot of experience from the medical school. When you understand the danger of getting into debt, you don’t want to go into it any longer, although some people will ignore the warning like a lot of people know that smoking is bad for their health, but many people are still smoking today knowing that their habit will risk their life.

4. Learn to respect your money. Yes, you must learn to respect your money. You work hard to earn it, and you must protect and respect it. I am not saying that you have to be stingy, I encourage you to start being generous, because being generous is very rewarding. From our experience, my wife and I always get back what I give to charities, sometimes even more through business clients and our business. To respect your money means that you won’t waste your money on things on things that you don’t even need. Sometimes it is hard to resist buying things when they are on sales, but if you don’t need it, don’t buy it. There will be another day and there will be another deal out there, so refrain yourself from going on shopping rampage during sales days at the mall. If you can make your own coffee, make it yourself, instead of buying it from a coffee shop for $5 a cup! If you spend $5 a cup, in ten days, you will spend $50. Spending $50 on coffee is a little bit too much in 10 days. My wife and I love going to eat at sushi places; we used to go eat sushi and spent $40 to $60/week. We realized that in a month, we would spend over $240 on sushi, so we decided to go there once a month. Anything you don’t respect will flee away from your life, so learn to respect your money.

5. Keep in track all your expenses and incomes. I decided to buy a PALM PDA, so I can keep in track all my expenses and incomes. I can compare the money that is coming in and the money that is going out. I can see how much money I have and how much money I owe. If you have $100 to $300 in invest, invest your money you buy a PDA, because A PDA is a great tool to keep your financial record, just make sure you add password to it, so no body else can get into your financial report. A friend of mine told me that she was in debt, and when I asked her, how deep she was in debt, she said “A lot!” “How is a lot?” I replied. She answered “A lot, and I don’t know.” I told her that she must find out how much money she owes the bank before she can work on paying her debt. You can not hit a target that doesn’t exist. You must have a target to aim and have the target written out. John Cummuta includes a debt elimination program booklet in his audio series that has helped me a lot, because of his teaching, today we don’t have any more debt!

Everything starts in our mind. We have to change the way we think about money. Instead of thinking about going into debt, we must start thinking about how to build wealth and how to make our money works for us instead of against us.

I keep telling people in invest in their mind over and over again, because if you stop and think about it right now, most of your wealth and everything you have today is the result of what’s in your mind. Your ability to perform at your current job or business is determined by how your mind thinks. Let say, you have a massive head injury and tomorrow and because of your head injury you can not speak or write anymore. Since you can’t speak and write anymore, you won’t be able to keep your current job or to run your business. So please never ever take the gift of your brain and mind for granted! Your mind and brain can bring you’re a vast amount of fortune and even make you a millionaire if you use it to think! So start thinking my friend, think today and use your mind to think!

I hope this article has helped you understand why going into bad debts is dangerous. Many people go into bad debts without realizing that they are risking their financial future when they buy things today by using credit. I also hope that this article has helped you to think right.

I wish you the best in your life today and write me today at pebden@pebden.com, I would love to hear your success stories. God bless you in your journey toward financial wisdom and May the Lord richly bless you!

© Copyright 2006, Pebden.com, Author: Entjik Jeffrie, CEO of Pebden.com, All Rights Reserved. http://www.pebden.com