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We Choose What We View

When examining the lives of people who have achieved outstanding results in some way, I have observed certain qualities that have enabled them to attain their goals and aspiration. I am amazed when learning about the lives of ordinary people who have accomplished extraordinary feats.

I have found that the “attitude” of an individual plays an extremely strong role in the successes achieved during their lifetime. These individuals have not lived their lives without its ups and downs.

They have suffered disappointments, defeat, personal losses, and have dealt with similar discouragements that confront us all. It is how we react and respond to these events that makes the difference.

Some of the most difficult experiences we endure are the ones that teach us the greatest life lessons. Take the example of losing a business and having to declare bankruptcy. Where this would be the undoing of one individual, another person will learn and grow from the experience. In fact, Mark Victor Hansen did just that and now he is an inspiration to millions because of his positive outlook on life.

How Does You Attitude Affect You Financially?

Your attitude affects many of your personal qualities. An enthusiastic attitude increases your level of commitment, discipline, determination, and desire. Conversely, a negative attitude diminishes these personal attributes.

A good example we can all relate to is the price of gasoline. My husband and myself have made it almost a game in seeing what we can accomplish after we filled our cars with gas 20 days ago and are trying to see how long it will last.

We have spent many days at home working on projects we have put off for too long, have wrapped all the Christmas gifts, sold items on ebay to declutter and raise money, did some much needed deep cleaning and had friends over for cards.When there is a job that needs to be done at work, whom would you ask to help? Well, the person that demonstrates a “can-do” attitude. And who is considered first when a promotional opportunity opens up at work?

It is completely within your power to condition yourself to be more positive and enthusiastic. If you have heavy debt, make that debt your challenge, the monster, your opponent that you are going to win and inch by inch you set out to slaughter him!

The defining characteristic of pessimists is that they tend to believe bad events will last a long time and undermine everything they do. Optimists tend to focus on and plan for the problem at hand while learning and growing from it.Optimists preserve. They just do not give up easily, they are also known for their patience. Inching their way a step closer to that goal or elusive dream. They see opportunities instead of obstacles.

By learning to be an optimist it will improve your personal and financial situation. Use humor as much as possible (my very favorite!), identify role models, have a “can-do approach”, take time to respond to events, surround yourself with enthusiastic people and if you harbor negative feelings, find a way to let them go.

The World Is Ready For Mothers

Mothers are more likely to work in part-time jobs and often interrupt their careers to take care of family members. As their children grow and the needs and desires change totally within the family realm, mom herself also desires change.

The numbers of women owed business are climbing each day. It is important for female entrepreneurs to have access to the capital they need to compete in the highly competitive business market. This capital comes in the form of equity financing.

Many lenders have set aside loans specifically targeted for female entrepreneurs. These loans consist of regular commercial lending, loans from the Small Business Administration, and Equity investments.

Women are on the rise and will continue to be needed on an increasing basis in the coming years. Loans for women are more popular than ever before. Due to their many experiences they are creative and willing to try new ideas inside and outside of the home.

Lenders will base their businesses credit worthiness on their business credit scores, so it is important to get lines of credit or loans from lenders that report their scores to the Small Business Financial Exchange.

Home-based Businesses Are Exploding

While there are some businesses that can be started with modest funds, most home-based businesses require, a small amount of working capital. You may need to purchase your own equipment, insurance, and/or inventory to start.

There are many ways that you can finance your home-based business. Before you start raiding your retirement fund, take some time to plan out what you intend to spend on your new venture. It is a good idea to map out these expenses ahead of time to ensure that you don’t get in over your head.

Next you need to create a business plan. Creating a business plan will help you to figure out the amount of start-up capital you will need and to plan for your future financial needs. For more information on this process, check out: AllBusiness.com, which is Business Plan Center.

Once you complete your plan, your will have a better idea of the type of funding you will need and what to ask for.

Some Of The Most Popular Sources Of Funding

Commercial loans are attractive because they do not require entrepreneurs to turn over equity or company control. But paying off debt can be difficult if you are not making a profit.

You may not have access to bank loans if you have no relevant experience or collateral. If you are looking for $100,000 or less, you can often get an unsecured loan based on your personal credit history. You can also obtain a secured loan against any personal assets you might have.

A question was asked about sending your mother to get a small business loan online. This type of transaction should be done with the utmost caution and with extreme research. Online lenders are not necessarily the best choice.

A good place to begin with is the Small Business Administration website:
www.sba.gov and their telephone is 1-800-827-5722. Likewise a safe and reliable source is the state’s Small Business Association and/or the Chamber of Commerce in the municipality where she resides.

Looking At The Full Picture

To answer this question, you must decide how your money can work best for you. While having a savings account is a way to plan for the future, becoming debt-free is an excellent strategy for creating long-term financial health.

Take a look at your savings account statements to see how much interest you’re earning. Now take a look at your creditor’s statements for the debts you have. You are probably being charged more interest on your debts than you are earning on your savings.

When you’re deciding between paying off debt or investing in savings, the best choice depends on the interest rate of each account. For example, if the interest rate on your debt (say a credit card) is 13 percent, you would have to find a savings option with an interest rate equal to or greater than 13 percent to make additional money.

An easy way to get a big picture view of your debts is to write them down. Make a list of your debts by creditor name, amount owed, and interest rate. List them in the order of highest interest rate to lowest interest rate.

Now how can we eliminate this high interest debt?

• Putting the card away so you don’t put additional charges on it

• Paying more than the minimum amount due each month

• Transferring the balance to one of your lower interest rate cards

• Getting a lower interest rate debt consolidation loan

• Enrolling in a credit assistance program

• Borrowing money from family or friends to pay it off sooner

Let’s Look At The Options That You Have

So far it may sound as if paying off debt before investing in savings is the best option. Keep in mind, most financial experts recommend budgeting 5 percent to 10 percent of your income each month for savings. So what should you do? Here are some options:

Pay off debt before investing in savings. This will look good on your credit profile, but you won’t have a financial cushion if you need it.

Make the minimum payment required on your debt and create a savings account. This will give you a financial cushion, but it will prolong the life of the debt and may cost you more money in the long run.

Find a balance between paying off debt and investing in savings. Paying off debt now while working toward building a savings puts you in control of your money. You may want to pay a little more than the minimum payment required on your debt and put the rest into your savings.

Now the solution becomes very personal. You must look over your “big picture view of your debts” because yours is yours alone. And only you know the monthly income for your household.

You can also download a free “Pay Down Debt Or Invest”, calculator for Windows from Wheatworks Software, which is helpful. Or, if your debt is getting to the point where it is difficult to manage, you might consider debt consolidation. Otherwise, the above information should pretty well sum it up for you.

Some Of The Many Areas To Begin The Search

These days’ people are more and more prone to getting into debt, probably because money is being offered to us from all directions and a certain amount of personal debt is now regarded as normal. But more and more are getting into the worried stage!

What about those that are tired of always falling behind on payments, if a major chunk of their salary is going towards paying their debts and are tired of pestering collection calls, it is time for these people to find some calmness in their life.

What all of these people need are not another loan to pay, but to get help in the form of a debt consolidation program. To find the best debt consolidation company you will have to shop around and talk with whomever you can who has had this experience.

Two major things that you should look for in a debt consolidation company are experience and expertise. A good way to judge is to check whether the company is registered with the Better Business Bureau. If it is, you can check with them to see if there have been any negative reports on the company.

Another way of judging a debt consolidation company is by reading the customer testimonials. This gives you an idea about their customer service, how they deal with different cases, etc. During this trying financial time you need people to work with that treat you with respect and honesty.

They should stop your creditors from contacting you and to make them aware of the consequences they will face if they try to contact or harass you. And they will work with your debt collectors to inform them of the negotiations that will be taking place.

They Should Do What They Say

Next, a good debt consolidation program should be able to reduce the interest payment to a very small figure, if one at all. When you are paying off debts the last thing you need is an interest rate to battle against.

A good debt program should be able to draw up a proper set of accounts involving income and expenditure. Only after this has been done will you be able to calculate how much you will be comfortable paying off each month.

Avoid Fees

Also, look at the upfront fees, the payoff fees, their fees, etc. As a smart shopper, you must look at the whole package. Therefore, it is important that before you sign on the dotted line you read the fine print very carefully.

A good debt consolidation company will make it very easy for you to get your own personal version to help you to get out of your circumstances. This is because they will offer you a tailor made solution that fits your financial situation.

This type of company ensures that you will be out of debt and you should ONLY work with such a company. It will also help you stay out of debt in the future by giving you financial tips and tools and counseling.

Visit www.bestdebtconsolidation for more information. A reputable debt company will be with you all along the way.

Be Ready With All Of The Answers Before The Interview

A lender may often give a borrower his or her complete attention their first meeting when the loan proposal is submitted. And what you must do is to provide the lender with all of the necessary information in an organized manner.

The lender must completely understand your business operation (its history as well as its future) and your loan request. All of this information should be neatly documented in order to provide a complete picture of the business, including the necessary facts and figures to approve the proposal.

Without sufficient data to answer all questions that may arise, he or she may lose the momentum that had been created for the deal by your first brilliant presentation. Don’t trip yourself up in this manner.

Convincing the lender to provide financing is much like selling your products or services. You have to identify your prospects, qualify them, make the sales pitch, and close the deal. And getting your lender to make the loan is actually no different.

Be ready to answer and back-up the following questions they will ask of you: How much money do you want? Are you profitable? How long have you been in business? Do you have good credit? Are you willing to personally guarantee the loan? And what kind of loan are you looking for?

Now It Is Your Time To Shine!

Your positive demeanor can be quite effective in winning a favorable impression from the lender about the proposal. Enthusiasm is important to demonstrate that you yourself are confident toward the proposal and the goals of your business.

Confidence always carries over to the person who views it, and your lender is not an exception. It can actually assist him or her in approving the transaction. It can win or lose a deal if it’s presented in a confident, enthusiastic tone.

By accentuating the positives, you force the lender to focus on the successes instead of the failures. Even if the business has had its share of losses, your emphasis should be upbeat and on the wins that you have experienced. This will reinforce the reasons why the lender should say “yes” to you and your company.

Entrepreneurs are usually creative and persevering and will try whatever it takes to get the package that they need. One of the easiest strategies to get your loan proposal accepted is to provide the lender with ALL of the necessary information they need.

Answer all questions directly, and with eye contact, using documented information that will satisfy their concerns. If you are not sure how to answer a specific question, it’s best to call the lender back as soon as it is practical to provide the requested information.

And last, research the lending market and find out which lenders are best suited to make the type of loan that you need. Determine which of them has the most interest in the market that you operate in.

See who wants your business and is willing to invest the time and energy to help you succeed. Then present your proposal confidently, in an organized and complete package, clearly and concisely stated.