Making Ends Meet while Liking what You Do

There comes a time when everybody has to choose what profession to take up to serve society. Based on calling, talent and references, a career path can be established. Needless to say, the process starts in the early years of college.

career


Having an inkling of what they want to do, students decide what to major on in their courses. Some make this decision after extensive consultation while others make it on a whim. Others already have a custom course outline for a very particular sector. So what effect does a career choice have on someone’s life?

A Career is a Constant Push

Apart from the obvious monetary rewards that come with employment, a career path choice also hinges on job satisfaction. It is easier to live within one’s means than to carry on a profession in which one has no passion. Granted, not everyone lands the dream job there had first planned out to be in.

Dissatisfaction at work affects productivity on the short-term and moving up the ranks on the long-term. The challenges present in maintaining a career may include:
  • Chronic fatigue from overworking
  • Injury or chronic Ailments
  • Stress from work environment
  • Poor spending habits from peer pressure
  • Shake-ups in the industry

It helps to remember the paradigm, “Don’t do what you like, like what you do.” When a job helps one to reduce financial burden and is of use to society, then it should essentially make one happy. Sticking to this positive line of thought can keep one from a lot of trouble.

One of the financial obligations to be met is student study debt. The lender, StudentAid, is quite understanding concerning the challenges that are involved in repayment. Accommodating for an expected period of job-searching, Student Aid offers a grace period. They also consider deferred payments during hardship or lay-offs.

Making regular and timely student debt payments, keeps one on a good credit rating. It enables one to take out more loans for higher learning that may further one’s career. Should this occur, one can also consider consolidating his or her debts. This is possible even with non-student debt.

Always having in mind how the lender considers one’s risk status, puts one in good books and avoids penalties. The information is shared among all financial institutions that give out different kinds of loans. Therefore two persons with the same earnings may be considered very differently due to their personal financial discipline.

In order to climb the career ladder and purchase certain necessities of life, people rely on their credit-worthiness. Items that require large deposits such as car, house or a vacation may be funded by a loan. The payment may lead to future savings such as rent evaded, taxi charges evaded, tax relief and so on.

The savings and investments made from borrowing, despite the interest charged, give a big bump to one’s career path. They may be experienced in the ease of lifestyle such as housing or the increase in skills gotten from education. These strategies are geared towards starting to lie what one does.

Bio:

Christopher Baker is a career advisor and motivational speaker. His career mentorship targets debt consolidation and completion of debt payments. For more information, visit Christopher’s blog here.


Lovingly written by Joy












Striking Benefits of Taking a Business Loan

In the current economic scenario, business loans seem to be the best choice left to the small business owners for arranging funds to run their companies. It becomes impossible at times for small businesses to take care of all their expenses on their own. They may be requiring some external funding for the smooth running of business. Loans from business lenders like private lending institutions and banks seem to be the smartest option under the circumstances, but it is a wise idea to always consider the benefits of seeking a business or commercial loan.

business loan

What Is a Business Loan?

A business loan always refers to credit which is borrowed by you mostly in cash and repaid over an agreed period of time. Banks, as well as, alternative funding sources like crowdfunding platforms, community development financial institutions, relatives, and friends would be providing businesses with the necessary funds. Remember you not only repay the amount that you have borrowed, you would also be required to pay an interest as per:
  • Loan length
  • The amount borrowed
  • Secured or unsecured loan

Reasons for Taking a Business Loan

Business loans are usually, taken out for various reasons. An organization would be looking for a business loan for maintaining business operations, investing in equipment, starting a new branch etc. These loans are extremely advantageous for burgeoning businesses. Moreover, these business loans could be obtained easily as there are several lenders who would be willing to help business owners who have a credit score that is 720 or more, a good business plan and a stable income.

Some Amazing Advantages

  • A major advantage of taking a commercial loan is that the loan is approved to a corporate entity; therefore, the loan would not require being paid back by the owner of the business in case the company fails to succeed. If the organization is confronted with failure, the business would be liquidated, which would be helping in paying back some of the borrowed funds. Several business owners never lose sight of this great advantage while borrowing money because the owner would not personally go bankrupt in case of loan default. It is the company that would be going bankrupt instead.
  • Even though business lenders would be reviewing your business plan including details about how you would be utilizing the borrowed funds, they actually, have absolutely no say in any of your business operations and they simply cannot dictate to you how you should be managing the funds. You are the ultimate boss in this context and are answerable to none.
  • Business lenders are certainly not entitled or authorized to enjoy your business profits. They are only concerned with debt repayment.
  • A business loan is offered at a lower rate of interest as compared to several other funding choices including credit cards. However, the repayment terms of different business loans are sure to vary.
  • One of the biggest benefits of a business loan is that the interest payments on any business loan could be deductible directly on your taxes.
  • Thanks to a business loan you could be having easy access to huge amounts depending on the exact needs of your company. The funds would be available for instant use, for building a credit rating and also for creating a goodwill and good financial reputation right from the early stages.

Conclusion

All business owners must try and assess their needs and desires before getting in touch with a lender. This is essential as this would help the business owner to understand precisely which sort of lender would be the most suitable for your company. Moreover, business owners should devote enough time and attention to go through all the mentioned terms and conditions associated with any business loan. Often business loans would be demanding early repayment penalties. It is a wise move to take a business loan which would not be incorporating such penalties.

Author bio: Kevin Mills is a business guru and a blogger. He has been instrumental in assisting a number of small businesses through the unsteady initial stages to ultimately success. Recently he has taken to blogging and so he shares his insights through his blog posts and recommendations of reliable services and companies such as https://www.libertylending.com/.


Image source: http://www.picserver.org/b/business-loan01.html




Lovingly written by Joy












Is Debt Settlement an Alternative to Debt Consolidation Loans?

When your financial situation is choked by debts, frustration kicks in and one goes with the next available debt relief option. A few minutes spent surfing the internet reveals that debt consolidation is one of the best debt relief options because it promises lower interest rates and a big sigh from multiple monthly debt payments. You will also come across debt settlement, which cuts off creditors’ incessant calls to you. However, these two operate very differently and if in a murky situation with no means of repaying debt, debt settlement will suffice.

debt


Debt consolidation

A debt consolidation loan plan involves taking a big loan to pay off smaller debts at lower monthly interest rates. You’ll be expected to pay off one monthly bill. However, your income, stability, credit score, and security determine qualification.

You should take a debt consolidation loan when looking for more affordable loan repayment terms as well easy management of payments and reduction in late payment penalties. Most people who qualify for debt consolidation loans afford their loan payments, but this isn’t the case in debt settlement cases.

Debt settlement

A debt settlement plan, on the other hand, involves having a debt settlement expert negotiating with your creditors for cancellation or reduction of the balance owed. This has been seen to be more favorable to debtors who cannot afford to repay their debt.

Debt settlement process

Debt settlement applies for debts like credit cards, personal loans, private loans, utility bills, mortgage ‘short pay’ balances, medical bills, car loans, and leases. The settlement process involves:
1. Your ability to repay the debt is ascertained from your living conditions and your payment stub. Applicants who qualify for debt settlement have a limited ability to repay their debts and in successful settlement cases, they can walk away without paying a penny.

2. Negotiations with creditors include revelation of your true financial status. Your credit will have to agree with getting as much or as little as possible from the settlement.

3. When in agreement with the partial loan payment, an exchange account is set up for lump-sum payments.

4. The agreed settlement will render the debt fully paid regardless of the fact that it has only been repaid partially.

Which is the best debt settlement company?


In the same way that you use online debt consolidation reviews to determine the best debt consolidation companies, online debt settlement reviews will guide you in finding the best debt settlement companies. The best company does the following:


Gives full disclosure

The best debt settlement companies give settlement plans with all fee details and associated costs. You will also receive a reliable estimate of the number of months or years you will have to wait before clearing the agreed lump sum in the exchange account.
Moreover, information on how much money you must have saved before offers can be made to the creditors.

Easy to understand policies

Financial policies tend to be complicated but a reliable debt settlement companies offer easily understandable debt settlement programs.

Gives you the last word

Before finalizing all agreements, you will receive all the settlement offers for final approval

When you have racked up too much debt, have insufficient income to repay your debts, and your tanked credit score makes it impossible for you to qualify for debt consolidation, debt consolidation is your best relief. The payments may or may not affect your credit score. However, in extreme cases where bankruptcy is the next option, your creditor may settle for so little or nothing saving you the imminent financial pitfall. Since consolidation doesn’t work when you are unable to repay your debt, debt settlement comes in to save you.






Lovingly written by Joy












3 Traps To Avoid In Debt Consolidation

The idea of consolidation is to restructure your debt payments. Sometimes, the individuals do have sufficient finances to afford the debts, but due to the busy schedule, they are unable to maintain the payments properly. Here are some traps that you need to avoid and do a proper research.

debt consolidation


You Assume That The Root Cause Of Problem Solved

The consolidation is a type of treatment, but it cannot solve the real financial sickness that you are suffering from. You are required to find out the actual cause of falling into the debt situations. The reasons can be anything like:

  • You have not saved any money for emergency purposes. Even if you are responsibly using your credit card, a simple car accident can cost you a lot. If you require a huge repairing cost for your car, where can you get the money?
  • You may possess a large number of credit cards and are using them recklessly. The high interest rates on those credit cards are enhancing the debt balance.
  • With a boasting attitude of the financial success, you are trying to spend just like the persons around you. Sometimes, your finances may not cope with this attitude!!

Consolidate Wrong Debts: 

The interest rates should be taken care of while doing the debt consolidation. When you find that the loans with low interest rates are becoming higher after consolidation, never consolidate them. For example, the student loans generally possess low rate of interest. You can consolidate the debt, with the balance transfer card. The transfer may start with a very low rate and even a 0% rate of interest. But, if you are not able to pay the equivalent amount of the loan, within the stipulated time and the low rate expires, you may end up paying a much higher rate than the original rate of interest. So, you must do a proper calculation before selecting your debts for consolidation.

Absence Of Realistic Plan For Repayment: 

These debt relief programs are only helpful in restructuring your balances. A separate repayment plan should be ready in advance. Most of the consolidation plan is combined with the terms of the repayment. You can also choose higher payments for completing your loans, as early as possible. As there are no penalties for prepayment, you can surely pay in advance. When you are consolidating, a particular debt management plan will be forwarded to the lenders and the creditors for the purpose of approval. It can be difficult to change, as soon as the plan starts. So, ensure your present capabilities of repayment before setting up the particular repayment plan.

Make sure you are not being guided by a wrong professional. Check the credibility of the debt consolidation firms through the websites and go through their ratings and reviews before choosing. Never keep your house in a dangerous position through the home equity loan for the repayment. All these traps are required to be taken special care when you are looking for a consolidation of your debts.

Author Bio: David Steven is a debt consultant who provides tips for debt consolidation. In this article, he is talking about some dangerous traps that require to be taken care of during the debt consolidation.


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Lovingly written by Joy













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