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What Is “The Secret”?

For those who are unaware of what “The Secret” is we should start there. It is a film that presents the Law of Attraction as a means to material gain and wellness. It is used in many self-help workshops and personal development circles.

It is a simple, yet, clear message of how to obtain and help oneself through spiritual and mind control. It addresses the power of the mind and the control you have over your own destiny.

Its challenge, however, has been finding balance between educating people who have never before picked up a book on spirituality, and satisfying those who are already pursuing spiritual purpose in their lives already.

Teachings Of “The Secret”

Money should not make a person happy nor to be rich just for the sake of being rich. Or the opposite connotation, that money isn’t flowing so that means you are poor and unhappy. You can create a livelihood for yourself that shouldn’t have worked out for a variety of reasons, yet has. This is the plot of the film.

The Law of Attraction is a belief system that we assign arbitrary value to many things based on a number of factors to ourselves. In this particular article we are addressing only money and debt.

In “The Secret” there are testimonies where money has come and gone repeatedly over the years. And when one becomes afraid and worries, frets or questions life, their financial situation reflects that back.

And every time that same person has made a quantum leap in trusting that all is well, no matter what it looks like on the outside, the financial situation reflects that back also in an unexpected and magical way.

Some individuals have come to use money as a barometer to inform them that it is time for an energetic alignment and as an adjustment of letting go and trusting more in a positive manner. As performing as a ‘positive” magnet, the ‘positive’ energy will be returned to you.

“The Secret” teaches that reflections and mirrors along with feelings and trust are some of the ways we use to learn about ourselves. The approach to money taken by this film is that money is a form of abundance, if only we learn to tap into it. And by tapping into it we also eliminate one of our largest hurdles debt!

We each deserve to have abundance in our lives and to be happy and we deserve and should have money in balance and with a conscious awareness of the world. The kind of poverty that exists in many parts of the world can’t be ignored. If we have money we should do\ what we can to live generously and share with those less fortunate or less capable than us.

However, we should not cripple ourselves emotionally, spiritually, or financially. We do not question that there is infinite air, love, water and other necessities, so why should money be any different? The question is does it control us, or do we control it?

Money will not make a person happy, what you do with it as you discover your true self will.

Personal Questions To Ask

The only way to answer this question is to know exactly what is going to take place with our economy in the next two to five years. When choosing a mortgage, you need to consider a wide range of personal factors and balance them with the economic realities of an ever-changing marketplace.

Individuals’ personal finances often experience periods of advance and decline, interest rates rise and fall, and the strength of the economy waxes and wanes.

Then you have to ask yourself:

The more information and financing you have in regards to the above, the easier it will be for you to make the superlative decision.

What Are The Main Differences Between The Two Financing Plans?

Fixed-rate mortgages and adjustable-rate mortgages are the two primary mortgages types. While the marketplace offers numerous varieties within these two main loan types, the first step when shopping for a mortgage is determining which of the two loan types best suits your needs.

The fixed-rate mortgage charges a set rate of interest that does not change throughout the life of the loan. Here the total payment remains the same, which makes budgeting easy for homeowners.

The main advantage of this loan is that the borrower is protected from sudden and potentially significant increases in monthly mortgage payments if interest rates rise. The downside to fixed-rate mortgages is that when interest rates are high, qualifying for a loan is more difficult because the payments are less affordable.

Although the rate of interest is fixed, the total amount of interest you’ll pay depends on the mortgage term. The trade-off for that low payment is a significantly higher overall cost because the extra decade, or more, in the term is primarily to paying interest.

The monthly payment of shorter-term mortgages offers a lower interest rate. This allows for a larger amount of principal being repaid with each mortgage payment, so shorter-term mortgages cost significantly less overall.

The interest rate for an adjustable-rate mortgage varies over time. The initial interest rate on the type of loan is set below the market rate on a comparable fixed-rate loan, and then the rate rises as time goes on.

If the adjustable-rate is held long enough, the interest rate will surpass the going rate for fixed-rate loans. These loans have a fixed period of time during which the initial interest rate remains constant, after which the interest rate adjusts at a pre-arranged time.

This initial rate can vary significantly anywhere from one month to 10 years. Also, this initial rate enables the borrower to qualify for a larger loan and allow for a lower interest rate to begin with.

The downside is your monthly payment may change frequently and if you take on a large loan, you could be in trouble when interest rates rise. Some of these loans are structured so that payments can nearly double in just a few years.

The home-loan dilemma continues to be personal and influenced by our economy.

The Law Of Attraction Is Natural

As any other skill people have, possessing the skill of your desire is no different from playing the piano or flipping pancakes in the air. How good you are at it depends on how efficient you have become at performing it.

And, although some of us are better at certain skills that doesn’t mean the rest of us, with practice, can’t improve or even surpass the talent expressed by another. Those people who are efficient in attracting money or whatever else they desire have trained their mind to focus on their desires.

They have learned it so well that they often times don’t even realize how they do it. Abundance comes to them naturally. They wouldn’t blink an eye if someone suggested they don’t deserve something, it isn’t part of their reality.

Understanding The Law Of Attraction

We create our own reality. We attract those things in our life like money, relationships, employment and whatever else we focus on. It is not as simple as stating an affirmation over and over, no affirmation is going to work if your thoughts or feelings are negative.

When we focus on “having less” then we create that same feeling for ourselves. When we tell ourselves “I hate my job” we will never notice the aspects of our employment that might be satisfying.

Basically, just wanting something isn’t going to bring that to us when we continue to obsess on the not having of that something. We will just keep feeling that we “do not have it” and keep blocking our true desires.

When it comes to money we tend to think of the abundance in terms of how much money we have in our bank accounts or winning the lottery and both are fruitless. Once again, it is focusing on “not having” or “not having enough”.

And some of these things you could do with the small amount of money you presently have. Yet too many cling to their meager savings out of fear that if some of it is used there might be trouble ahead, then you’ll really be in bad shape.

For example, a daughter’s mom owns a car that is in need of repair and would cost $300. The daughter has $800 in her savings and is afraid if she gives her mother the money her own car might have problems, or one of her children might need something for sports, or there could be an accident with her old washer and she will need the money.

This lady’s true focus is on “not enough” and her Law of Attraction is negative. She will and probably always has been the same magnet most of her life, for fear over powers her desires.

The Law of Attraction works regardless if you are working at it or not. The problem is that we can unknowingly be attracting things that we don’t want. In order to attract the things we do want is to focus on the positives and live the same way.

Once you start to visualize what you really want your thoughts and feelings start working as though your dreams exist. Soon they will because you have lived, desired, thought, acted and manifested them to become alive.

Banks And The Cardholders

Credit card interest is the principal way in which card issuers generate revenue. A card issuer is a bank that gives a consumer a card or account number that can be used with various payees to make payments and borrow money from the bank simultaneously.

The bank pays the payee and then charges the cardholder interest over the time the money remains borrowed. Banks suffer losses when cardholders do not pay back the borrowed money as agreed.

Typical credit cards have interest rates between 7 and 36 percent, depending upon the bank’s risk evaluation methods and the borrower’s credit history. The cardhold’s credit risk is key to a card issuer’s profitability. Banks check national and international credit bureau reports that identify the borrowing history of the applicant.

Different Methods For Charging Interest

The Average Daily Balance is the simplest of the four methods, in the sense that it is an interest rate that produces approximately, if not exactly, equal to the expected rate. The sum is divided by the number of days covered in the cycle to give an average balance for that period.

This amount is multiplied by a constant factor to give an interest charge. The result interest is the same as if interest was charged at the close of each day, except that it only compounds (added to the principal) once per month

Next is the Adjusted Balance method where at the end of the billing cycle it is multiplied by a factor in order to give the interest charge. This can result in an actual interest rate lower or higher than the expected one, since it does not take into account the average daily balance.

What matters here is the time the money was actually lent out by the bank. The longer the period the higher the interest rate because you are using their money, which increases their risk on you.

The Previous Balance is the reverse of the Adjusted Balance. The balance at the start of the previous billing cycle is multiplied by the interest factor in order to derive the charge.

As with the Adjusted Balance method, this method can result in an interest rate higher or lower than the expected one, but the part of the balance that carries over more than two full cycles is charged as the expected rate.

Now let’s take a look at the APR that is the principal means of comparing credit interest. It is compounded on a monthly basis. Most major banks use the following methodology:

Increase the figure to the highest possible value while still meeting advertising requirements, e.g., if a card is advertised at a percentage rate of 17.9, then any value up to 17.949 will still be rounded down to 17.9.

To derive the month rate, obtain the twelfth root. This will provide you will a rate which when compounded over a year will equal the APR.

At this point, it is important to round down, since the APR has already been maximized. Pushing the APR up onto a higher rate could make the card issuer liable for false advertising claims.

These are the four main methods banks, credit unions, etc; calculate their programs of charging interest for their credit cards.

Know What You Need To Ask For

Knowing the correct type of loan to ask for is essential in getting the bank to approve your desired loan. Banks have many different loans available and it is necessary for you to have a written business plan in place before approaching the bank of your choice.

Also, business owners have several types of funding choices, based on various factors about your business. Some of the programs available through the Business Credit Services are below.

Types Of Business Loans (Explained Basically)

• Secured Working Capital Loans

These loans are secured by collateral. The lender will take a security interest in your property. If you do not pay the loan back the lender has the right to seize your collateral. Most lenders will require collateral to secure a small business loan. Lenders will not lend you more than 100 percent of the value of your collateral and will usually only lend you 60 to 80 percent of its value.

• Unsecured Working Capital Loans

As the name implies, these are loans that are not secured by any collateral. Credit cards, while not technically loans, are the most common example of unsecured debt. The lender is loaning you money based on your reputation and credit worthiness. It is very. very rare to find a lender willing to give you an unsecured loan for a new business. Because you have no track record for them to work from.

• Start-up Loans

Loans for the new or start-up businesses

• Commercial Real Estate Loans

Commercial Real Estate loans with fixed or variable terms.

• Business Acquisitions

Loans to acquire an existing business.

• Accounts Receivable Factoring

Accounts receivable serve as collateral for short-term working capital loans that you ca obtain fast and cost effectively.

• Merchant Account Cash Advance

Up to a $50,000 advance against regular occurring monthly merchant credit receipts.

• Franchise Start-up Loans

Specialized financing reserved for the franchises of recognized, typically nationally known, franchises.

• SBA Business Loans

Loans to small businesses from private-sector lenders (banks, etc.), which are guaranteed by the SBA. The SBA has funds for direct lending or loans to small businesses with long-term, fixed-rate financing for major fixed assets, such as land and buildings.

• Lines Of Credit

A pre-arranged amount of credit based upon existing inventory, A/R and PO’s or up to $200,000 in business credit based upon credit worthiness with no collateral.

• Equipment Leasing

An easier way to find financing for your equipment needs and obtain tax benefits at the same time.

• Hard Money Equity Loans

Loans available that are typical hard to obtain from a local bank lender.

• Equipment Sale-Lease Back

If you have existing equipment, sell it and then lease back the equipment. Essentially you get cash for your equipment and then lease it back.

• Construction Financing

Loans for home or commercial construction.

• Business Only Loans

Loans can be obtained in the business name without the use of personal credit as long as the business can justify the loan amount and ability to pay it back.

• Residential Equity Lines

Lines of credit secured by the equity in your home.

There are also short-term and long-term loans with the above. So study before heading to the bank and it will help you with many of the questions you will have.