I read this article recently on MSN Money. It was titled “How I survive (actually thrive) on 12K year.” It was sitting right next to an article called “Scraping by on $150K a year”. Quite a contrast, huh?!? So I read them both. When you read these articles one after the other you realize that we really do choose our own paths regardless of any limitations set by the outside world.
The first was a single lady, recently divorced who had decided to go back to school. She had a set income that included alimony and some money left over some school grants. Her rent for the year totaled $6,000 and some change. Yet she pays utilities, eats, has car and health insurance, and enjoys her life because she knows every dollar coming in and going out and has no stress about it.
The second is a couple with 4 daughters. Now granted it costs a lot more to take care of 6 people than 1, so to be fair based on the other lady 12X6 is $72,000. They are making twice that. So where is all their money going? Apparently a rental property that they have been holding for some time and not been able to rent out. They have been cutting tons of little things out of their budget such as coffee at starbucks, etc. trying to fix the problem. Now I commend them for seeing there is a problem and something has to be done, however do you think they possibly drink enough starbucks coffee in a month to pay a mortgage? Most likely not! So each month they ignore what is draining their budget and can’t figure out where all the money is going.
So many of us live like this. FEAR. Fear of not paying our bills, fear of something happening and not having enough money. Sleepless nights thinking about money. But I would say given a choice of either of these lives, I would take the $12K and eat beans and be happy, rather than the $150K and all the stress it causes. The point is, it is human nature to spend everything we have, but if we learn the habits of living on less and implement them regardless of what our current financial situation is we will get more restful nights.
Seek Unsecured Loans And Avoid The Threat Of Repossession
It is quite natural that people don’t want to have the threat of repossession of their property while seeking loans. This is more natural for the homeowners, who have a special attachment associated with their homes.
Unsecured loans are seemingly the best way to go for the loans, without putting your home at stake. Along with this benefit, you may procure an unsecured loan quickly and that also with ease. This is because the valuation of the collateral is not done in this case. Hence, the turnaround time gets reduced, which helps in getting the loans quickly. Less paper work is involved in this loan type, which alleviates the hassles of getting the loans.
With unsecured loans, you may buy a car or consolidate you multiple debts. You may do many other things as well, like going for a holiday trip, meeting the expenses of a wedding ceremony, educational purposes etc. When you are going for an unsecured loan option, you will get a shorter term to repay your loans. So, you need to plan out accordingly when you are planning to avail this loan type.
People with County Court Judgments, arrears, defaults, bankruptcies etc. may also apply for the loans. Even if their loan application has been turned down by some lenders, they should not get disheartened and keep on applying for the loans. Each and every lender has a certain set of criteria for offering the loans. So, if those specific criteria are being met, the borrower may get loans.
Unsecured loans are seemingly the best way to go for the loans, without putting your home at stake. Along with this benefit, you may procure an unsecured loan quickly and that also with ease. This is because the valuation of the collateral is not done in this case. Hence, the turnaround time gets reduced, which helps in getting the loans quickly. Less paper work is involved in this loan type, which alleviates the hassles of getting the loans.
With unsecured loans, you may buy a car or consolidate you multiple debts. You may do many other things as well, like going for a holiday trip, meeting the expenses of a wedding ceremony, educational purposes etc. When you are going for an unsecured loan option, you will get a shorter term to repay your loans. So, you need to plan out accordingly when you are planning to avail this loan type.
People with County Court Judgments, arrears, defaults, bankruptcies etc. may also apply for the loans. Even if their loan application has been turned down by some lenders, they should not get disheartened and keep on applying for the loans. Each and every lender has a certain set of criteria for offering the loans. So, if those specific criteria are being met, the borrower may get loans.
Student Loans, Help To Bring Your Great Career Closer
Imagine you are getting ready to run a marathon; there are 26 miles of grueling road between you and your dreams. You’ve planned all your life, now you’re at the starting blocks and wonder if you have what it takes to win the prize. What if you had trained harder, maybe then you’d have an edge? As the miles pass, you begin to tire and one by one, those on your left and right pass you by; what do they have that you don’t? How did their training differ from yours?
Imagine now that this marathon is life, and the training (education) you’ll receive will cause you to make... or not make... an extra million dollars over the course of your career. A million dollars is what you stand to lose if you don’t complete your degree.
FACT: According to the Census Bureau, over an adult's working life, high school graduates earn an average of $1.2 million; associate's degree holders earn about $1.6 million; and bachelor's degree holders earn about $2.1 million (Day and Newburger, 2002).
If all that stands between you and your education is money, don’t despair, there are multiple student loans that may be the perfect fit. Look down the long marathon of life and realize you have a choice to make; you can walk away wondering “what if”, or “go for the gold” taking advantage of student loans (put in place) for exactly your situation. Before you decide do some in-depth research, no decision of this magnitude should be done with information.
As you research, you’ll find several different categories: student loans, parent loans, private loans and consolidation loans, (we’ll cover student loans and parent loans). Where you are in life (decided by current finances and other factors) will determine which loan best fits your needs. The Stafford Loan, (put succinctly) is the government guaranteeing the loan; they are awarded based on financial needs (obviously if you had the money you wouldn’t need the loan). If you do qualify, these loans are available from a variety of banks, credit unions or direct from Uncle Sam.
They come in a couple of different flavors; subsidized and unsubsidized, with the government paying the interest on the subsidized and you being responsible if unsubsidized. Since these loans ARE backed by the government, financial institutions are eager for the business and rates may vary; be sure to shop around, remember it’s your future and the loan (unlike a grant) does have to be repaid.
Next comes the Plus loan, still backed by the good 'ole USA and this is primarily for your parents (now might be a good time to say... “dad, you’re looking good these days”). Parents can use these loans to supplement your (already existing) financial aid package; and can range upward to the full cost of your education.
Another variation is the Perkins loan given to those in very difficult financial situations. Whether you qualify or not is best discussed with your advisor. The pool (available funds) for this loan is limited and it’s doubtful your entire education could be funded with a Perkins loan.
Imagine now that this marathon is life, and the training (education) you’ll receive will cause you to make... or not make... an extra million dollars over the course of your career. A million dollars is what you stand to lose if you don’t complete your degree.
FACT: According to the Census Bureau, over an adult's working life, high school graduates earn an average of $1.2 million; associate's degree holders earn about $1.6 million; and bachelor's degree holders earn about $2.1 million (Day and Newburger, 2002).
If all that stands between you and your education is money, don’t despair, there are multiple student loans that may be the perfect fit. Look down the long marathon of life and realize you have a choice to make; you can walk away wondering “what if”, or “go for the gold” taking advantage of student loans (put in place) for exactly your situation. Before you decide do some in-depth research, no decision of this magnitude should be done with information.
As you research, you’ll find several different categories: student loans, parent loans, private loans and consolidation loans, (we’ll cover student loans and parent loans). Where you are in life (decided by current finances and other factors) will determine which loan best fits your needs. The Stafford Loan, (put succinctly) is the government guaranteeing the loan; they are awarded based on financial needs (obviously if you had the money you wouldn’t need the loan). If you do qualify, these loans are available from a variety of banks, credit unions or direct from Uncle Sam.
They come in a couple of different flavors; subsidized and unsubsidized, with the government paying the interest on the subsidized and you being responsible if unsubsidized. Since these loans ARE backed by the government, financial institutions are eager for the business and rates may vary; be sure to shop around, remember it’s your future and the loan (unlike a grant) does have to be repaid.
Next comes the Plus loan, still backed by the good 'ole USA and this is primarily for your parents (now might be a good time to say... “dad, you’re looking good these days”). Parents can use these loans to supplement your (already existing) financial aid package; and can range upward to the full cost of your education.
Another variation is the Perkins loan given to those in very difficult financial situations. Whether you qualify or not is best discussed with your advisor. The pool (available funds) for this loan is limited and it’s doubtful your entire education could be funded with a Perkins loan.
Subscribe to:
Posts (Atom)
Posts
