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Do you believe or not :

There are nothing wrong with steady income, except it block you from making the money that you can.

Uncategorized Golden Rules

Debt Settlements are an increasingly popular way to take care your debt. A settlement for your debt means a negotiated payment arrangement between a creditor and debtor. Most of the time the debt is resolved for an amount that less that the actually amount owed.

Sound like a great deal? It can be, but you must consider your options carefully before pursuing a debt settlement. One thing that I can sure is debt settlement will affect your credit reports because your debt is settled for less that the total amount you owed.

You may wonder why a creditor would accept settlement since they cannot receive all in money in full payment. Actually they might not interest to offer you the full settlement options. However, if you missed a few payments or have had trouble paying on time, your creditor may feel that you are close to bankruptcy. So they might offer you a settlement to cut their losses that would better than get nothing after your bankrupt.

So there are 3 things you must consider before agree a settlement:

1. You must have the available cash on hand to pay the settlement offer - as I know they will not agree to get the money in another 2 years.
2. You will be charged for a settlement services. This is vary in cost. It may range from 15 - 20 percent of the amount of your debt.
3. Your credit report will be affected. That’s difficult to say how much.

How to Manage Money

Do you believe or not :

If you believe you have value, then you are. If you believe you don’t have value, then you are. You only live according to your believe

Uncategorized Golden Rules

Do you ever think about how you going to retire? Before this I read a statistic report shows that most of the people in the world are over confidence on their retirement. So what does it mean? That’s mean people don’t think and plan for their retirement. Retirement is one of the most basic questions you should ask in financial planning. Of course, your investment and income will have some significant effects on this result.

However, other than that, there are still several factors that will affect how you going to retire. Below is part 1 of the list:

1. Parents

Our parent is the one who take care of us since we born. They can take care of our education, health and other factors. Even mindset, most of the time, a child will inherit from parent. So parent will determine a lot of factors in our life until our retirement. So below is some of the influence from our parents:

1. Education - knowledge will determine how well we can make in our working age.
2. Heritage - one of the greatest assets from parents.
3. Mindset - Whether parents teach us how to save, invest or how to spend and etc

2. Income

The highest income or the more money you make when you are young will give significant impacts on your retirement. However, it does not mean that if your income is high your retirement will be better than others. It still depends on how to plan and manage your money and finally build up an ideal retire life. But one thing I can sure is, most of us wish to maintain the standard of our lifestyle after retire. So if you come from the group with higher income and higher standard of lifestyle, then you must prepare yourself and do more for you retirement.

3. House

Your house, although most of the time it will make us spend a lot of money on it and become one of the greatest liabilities to us, however, we still need a house to stay now or after retiring. So you must decide and plan now where and what kind of house you want to stay. Of course, choosing a dream house for your retirement is great. However, on the other side, you have to pay more for the house. You must consider that you will be going to take care all the expenses such as maintenance, taxes and monthly installment if you get a mortgage for your house. So you must plan well how much you going to spend for your house after retiring.

4. Family

I heard a lot of stories about how parents sacrifice for their children and I also understand that most of the sacrifices are expenses. According to one survey, the average fees to bring up a child to 17 years old is $1840000 and this rate is going up years after years. Besides that, you may consider other expenses such as preparing some education fund for them to study. So you must plan further if you still need to take care your family after your retirement.

To be continue………

Retire RIch

Time past so fast, today is Monday for another week. This week, There are a lot of great and hot articles were being posted in this week carnival events in money blog. Another good news is this week, My Journey to financial freedom, is so proud to submit 3 articles to the carnivals. So here is the chart of carnival:

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