False Promises and Financial Freedom

If you have them, you probably know that credit cards and after pay services make false promises of financial freedom, only to find out later that instead of being free, you've been imprisoned in debt. It's as bad as some men, lulling you into a sense of security, only to be screwed over in the worst way possible. Indeed, credit cards as well as after pay services are the bane of everybody's existence, and the sooner you realise it, the better it is for you. 

The Freebie

Most people, men and women alike, are enticed by credit card and finance companies with freebies. You've all heard about it. As long as you put in your application, you're promised free and in the words of Keith Cunningham "things and stuff" as soon as your application is approved. What you don't know is you'll be paying for those freebies faster than you can grab the credit card or your phone from your purse. Indeed, in this day and age, freebies come with a price, so find out what it's really going to cost you. 

Not Interested 

Credit card and after pay companies thrive on interest and hidden charges. Every time you take out your credit card, you can be sure that you're secretly being charged for something. Before you add another credit card to that arsenal you already have in your handbag. Whether it is a credit card or after pay product, read the fine print and find out what additional charges and interest will inevitably come with your purchases. Don't be fooled by the fancy lingo as it is time to get educated. Check your statement on the interest rate you are paying and the additional charges in interest if you do not pay in full or miss the payment deadline and incur late fees.

It's Payback Time 

Your credit cards work best if you can pay for it in full every time your bill comes out. You won't have to deal with monthly interest and additional charges. But then, that defeats the purpose of having a credit card in the first place. However, you can't fight the system, so the best you can do is make the system work with you. Use your credit cards responsibly. 

Using afterpay is not worth it when you do the numbers, by the time you have paid off your favourite outfit, it will be at the back of the wardrobe with all the other clothes and shoes you don't wear.

Ostentatious and unnecessary purchases should be avoided, and no, that doesn't include those strappy, brown sandals you've been checking out for the last two weeks, regardless of your payment option.

Only take out your credit card when you absolutely need to, such as when you're buying groceries or things you really need and can't live without. 

Better yet, hide your credit card somewhere where you won't be tempted into making impulse purchases. If you read my story, I used to keep my credit card in the freezer.

Indeed, credit cards are more liabilities rather than assets and it's not easy to get rid of them. But as long as you take control, you'll be okay. 

Eventually, it'll all be paid off and you won't have to worry about exorbitant interest and finance charges. 

Then and only then are you really on your way to financial freedom. 

Do You Want to Know the Six Easy Steps Into Your First Investment Property?

Thank you for your curiosity about what the six steps are to your life as a Property Investing. As an active investor I know it's not about the property itself, it's about the dream. Property is just the express bus to financial independence, to wealth and to creating a lifestyle full of freedom, choice and the ability to do what you love. 

Have you actually taken the time to ask yourself what financial freedom means to you? Is it having enough money to pay for a fabulous lifestyle, is it having enough income producing assets so you never have to worry about money again? Is it having enough money so you can quit your job, so you too have the time to discover your divine purpose, do what you love for a living and contribute your message, your cause. 

For me it's empowering women in their finances, which is a catalyst for empowerment in all other areas of your lives. So you too can become financially free, to take of the mask you wear every day and to stand in your feminine energy, become authentic and inspired to share your unique message, your gift, your purpose with the world. 

There are so many great property programs in the market place today from successful investors teaching people how to invest, yet only 10% of people who invest time and money in these programs will take action and actually buy a property. Why is that? I realised that 80% of investing is psychology or the right mindset and only 20% is the actual investing. This is why the market has created a need for Property Empowerment. 

After going through the process myself for a third time, it occurred to me that buying an investment property can be a very daunting, costly and time consuming process, when navigating it alone. It's no wonder that only approx 5% of property investors buy more one or two properties and only a staggering 1% retire financially free on with more than five. 

It also occurred to me that many women, regardless of how committed you are, might be put off by the uncertainty and the contradictory information available. You give in to the fear of making a mistake and allow yourselves to be swayed by the well meaning dream stealers to not only give up the challenge, but all the dreams that go with it. 

So to make your venture into property investing by following my six step program. It's about creating the right environment and the right mastermind team of active investors who specialise in residential property investing. Leveraging against their combined experience and knowledge to help you on your journey to property wealth and success. 

Whilst you engage a team of experts, you must however, always remain 'in charge' of your property investing business. Lay a solid foundation for success by empowering your mindset as the most vital first step, then educate yourself in the basics of property, finance, tax and structure. Once you have a sound knowledge of the above, you can leverage against the knowledge and resources of relevant experts to make it happen quickly and efficiently. 

The 6 Step Property Program Includes: 

Step 1: Creating an Empowered Investor Mindset 

Step 2: Education and Information 

Step 3: Finance Strategy 

Step 4: Portfolio Structure 

Step 5: Property Purchase 

Step 6: Property Conveyancing 

Step 1. Creating an Empowered Investor Mindset 

The first and most vital step in becoming a successful property investor is having the right mindset. Successful investing is 80% mindset or psychology and only 20% strategy, which in our case is residential properties. The market proves this to be true over and over again with all the failed property investors who thought it was just about buying a house.

The Oxford Dictionary defines "mindset" as a habitual way of thinking. It has also been described as an attitude, disposition or mood; an intention or inclination. I think this is a very fair description. Having the right attitude about property investing or any other aspect of your life to the point where it becomes a "habit" or behaviour is vital for your consistency, determination and eventual success. 

You must empower your mindset with specific regard to your values, decisions and beliefs around money and investing. Work with Femvestorsglobal to identify and work with your unconscious values in quite some detail to ascertain whether creating wealth is something you value and whether you are motivated toward a desire for abundance or away from your fear of scarcity and lack. If creating wealth is not a an unconscious value, no matter how hard your consciously try, you will not succeed. 

Work with a qualified Neuro Linguistic Programming (NLP) coach who specialises in finance or wealth creation and with their many tools, identify and eradicate any deeply held decisions and limiting beliefs that have unknowingly held you back in the past. Then instill new, more empowering beliefs and lock them all into place using targeted goal setting and visualisations. 

Step 2. Education and Information 

Once you have the success mindset of champions it's time to head into the classroom to learn about Property, Structure and Finance. Although this is when you will leverage the time, knowledge and expertise of many experts throughout the program, it is essential that YOU remain in charge of the property investing business. 

You need to treat every investment property, with its income and expenses, as though it were a stand-alone business with you as the Director. You don't need to be an expert in all aspects of investing, but it is important to be educated and well informed. 

You must understand the basic concepts of property, finance and structure so you can both understand and communicate with the experts in these specific areas of your investing. Get educated in such topics as property basics including property selection criteria and the Wealth Creation Strategy. Look into the basic principles of company and trust structures and which is best suited to your personal circumstances. Look into the multitude of investment mortgage options, the principals of each and shortlist which will suit your current financial and investing situation best. 

Researching and becoming informed will not only increase your financial and property vocabulary but will give you a very sound understanding of property investing, saving you time and money when eventually dealing with the relevant experts. Do not however, use the excuse of lack of knowledge and not knowing enough, to get stuck in analysis paralysis, know when to say enough is enough and get started. You never stop learning about investing, so expect that you will learn along the way. 

Step 3. Finance Strategy 

Now that you have a successful investor mindset and a good basic understanding of property, structure and finance it's time to look in detail at your overall finance strategy which can make or break your success as an investor. With the expert guidance and advice of a finance broker who specialises in investing, not mum and dad mortgages, firstly review the mortgage on your existing home (if any) with the aim of refinancing and releasing equity to be used as a deposit and a buffer for your first investment property. 

Then with your shortlist, look at the best option according to your particular financial situation for financing your new investment property. Once you have chosen the best option, formally gain pre-approval or approval in principal for your future investment property, before moving to the next step. 

Step 4. Portfolio Structure 

Now that you have your finance in order it's time to look at what structure you are going to purchase your investment property in. This is the step that most people skip or don't even realise they need until after they have 3 or 4 properties and it's all getting very messy and complicated with the tax office. Here is where you will rely on the property and tax accountant to determine the right structure for you specifically. Whether you should buy in your name, multiple names, in the name of a company or a trust or a combination of both. 

The structure for your portfolio is as important as the concrete foundation under your investment property. It needs to be just as strong and it needs to be laid first, or like the actual foundation, it becomes very difficult and costly to fix any problems after you have built your home on top. 

You will need to verify this for your own geographic region, If you decided to transfer a property from your own name into a trust you would in effect have to "sell" the property to your own trust which incurs all the normal legal and buying and selling costs including having to repay the stamp duty.. ouch! 

Step 5. Property Purchase 

Now that you have your investor mindset, your sound knowledge, your finance strategy and your structure in place, it's time to finally go property shopping... Yahoo!! This is contrary to a novice investor who at an open house is lured by glossy brochures, the smell of an open fire, baking bread and percolating coffee, falls in love with a property first and then worries about the rest later. As a professional investor, you buy with logic not with emotion. 

In all areas of my own professional investing I assign each task to companies who are specialists in that area. Their teams are so committed and so passionate about their specialty that they spend all their resources sharpening their knowledge, skills and expertise, thereby becoming industry leaders in their field. 

Think of it this way; if you want a haircut you go to a hairdresser, if your pipes are blocked you call a plumber, to service your car you go to a mechanic and these are all relatively minor expenses. Even when selling a home, people engage the services of a local real estate agent they trust. So I don't understand, when spending hundreds of thousands of dollars, people insist they are more qualified to find, select and negotiate on a quality residential investment property than a specialist buyers agent. Unless you are an expert this can be risky and extremely time consuming as you spend 12 months searching for a property. Not to mention expensive as the market keeps going up and up as you search, requiring a bigger deposit. 

I advocate using a professional who wants to see you succeed. One who specialises in the specific area you are investing in, who has all the network and personal relationships required to find you a great investment, with any luck, under market value. 

They will select a short list of properties with a history of good growth that fit within the selection criteria and then it's a simple matter of making an informed choice. Depending on the property type, you can then organise to have your building, pest or strata inspections undertaken as necessary. Being a new investor, or if you are new to the particular buyer's agent, I suggest you organise an independent valuation to confirm you are paying fair market value. 

Once a property is chosen, the agent will use their extensive negotiation skills to negotiate on your behalf for the best possible price and settlement conditions. If the offer is accepted you celebrate!! but if not, then you start over again. 

Step 6. Property Conveyancing 

Congratulations, your offer has been accepted, the deposit has been exchanged, the champagne is flowing and you are now officially a property investor. You are on your way to financial freedom. So now it's time to kick back, relax and watch the capital growth right? Well, not quite... There is still one very important step to go. 

You now need to legally transfer the property from the vendors name into your name or the name of your trust. You can choose either a solicitor or a conveyancer to do this on your behalf. They will do all the necessary searches and checks required to ensure that the property you purchased is exactly as stated in the relevant contract in your country. They confirm that there are no structures that are not government approved, any unexpected water or electrical easements, caveats or any other nasty surprises. 

They will also be responsible for coordinating settlement between you, the vendor, their solicitor and both lenders...Now that is no easy feat! Settlement, usually 30 to 90 days later is when your loan is fully drawn down and the balance of the purchase price and all associated finance and legal fees are paid. 

To further protect yourself, this is also the time to review your insurances and estate planning and create or update your will to include your trust and portfolio. This will ensure that your specific wishes are respected with regard to your legacy that you have worked so hard to create. 

So that's it... a simple, accelerated 6 step process that you can follow, no matter what your level of property experience or what town or country you live in. Start your journey to wealth and empowerment through residential property, so you can become financially free, become authentic and free to create the life of your dreams. So what are you waiting for?

Article Source: https://EzineArticles.com/expert/Luca_Ricciardiello/172537

8 Causes of financial failure

Struggling financially? A lot of people are, even though they give everyone the impression that they have it all made. They are working, live in a nice house and drive a nice car, but are living from payday to payday. Here are 8 major causes why people are struggling today.

Living beyond your means 

There is no getting away from it. If you spend more money than you earn then you must be getting your extra money from somewhere and that almost always means borrowed money, also called buying on credit. There is a cost to all of this and it is called interest. If you are in the habit of buying stuff on credit then the interest you are paying during your lifetime will add up to a fortune. The interest is sometimes called dead money because you have nothing to show for all of the interest you are paying. Think of what you could have spent with all of that interest. It is almost too painful to even think about but if you are to avoid poverty then you need to pull your head out of the sand and face the facts; your financial future depends on it. 

Keeping up with the Jones's 

Some people try to keep up with their peers with whatever they are spending their money on. It's a compulsion that will cost you plenty. Living up to some kind of self image will severely dent your finances and will prove costly by the time you stop working. You may think your peers are doing well financially to afford this stuff or even think they have done well for themselves but what you don't know may surprise you. That they may be up to their eyeballs in debt. Even if they are living within their means to finance their lifestyle, it does not mean you have to keep up with them. Don't be a people pleaser and live up to other people's expectations, live according to what is the right course of action for your own circumstances and you will be far happier. 

Consumer Debt 

Consumer debt or dumb debt as it is often called is purchasing stuff with borrowed money. It is spending tomorrow's income today. Debtors are usually oblivious to what is happening to the so-called stuff they bought on credit; that their newly acquired possessions are worth less the minute they have bought it. A crucial factor which needs to be observed is this; The money owing on the item is always more than what the item is worth. So many people are caught up in the debt poverty cycle and it is not just those on lower-incomes; in fact people on a middle -income are prone to this trap.

Commercial Greed 

Commercialism during the 20th century has brought a lot of prosperity; it has provided jobs and created countless businesses but there is another side to it. Social media and society has caused us to have an insatiable appetite for things. People are not content with just stuff they need but keep wanting more. This all has to be paid for, it is money that could have been used to build a financial base for their future. 

Addictions 

Addictions are very expensive; just ask any smokers. One does not need to be a mathmatician to calculate how much cigarettte smokers are paying for their addictions. It is estimated at over $A100 per week. That equates to $5200 per annum. No wonder many smokers are broke. It is the same with those who are addicted to alcohol and the pokies. 

Financial illiteracy 

Financial illiteracy is the major cause of financial poverty and it is not only those with low incomes who are financially illiterate; people on a high income can also be guilty of this. You hear stories of successful sports people who earned millions during their heyday but are broke years after their retirement. It is important to save and invest your money during your best earning years to set you up for when you are no longer earning as much. 

Irresponsibility 

Not taking responsibility for your own finances is irresponsibility. They will come up with all kinds of excuses why they or are not contributing to savings, and investment opportunities. Excuses such as, "You can't take it all with you," "I might die before retirement," or "I'm only young." People who are irresponsible with their finances tend to be irresponsible in other areas of their lives as well. Making commitments whether it is in a relationship, owning a house or car, or saving for your retirement takes responsibility

Bad Company 

There is no doubt that bad company is a major reason why so many people are living in poverty. It has been said, "You are the average of the five people you spend most of your time with," so it pays to examine who you are hanging out with and ask whether their attitudes and opinions on finance are influencing your money habits. In order to grow you need people to help and encourage you. This sometimes means separating from bad company. Some find that hard but in the long run it is all worth it.

Article Source: https://EzineArticles.com/expert/Robert_Alan_Stewart/2287449

7 Reasons Stock Exchanges Have Performed, So Well, Recently!

 In the past, few years, we have witnessed, a performance, by Stock Exchanges, which, exceeded, many of those, in previous periods! Although, former President Donald J. Trump, wanted to take credit for this phenomenon, in reality, it was probably, due to, a variety of factors, to a significant degree! In reality, there are, at least, 7 reasons, for this performance. With, that in mind, this article will attempt to, briefly, consider, examine, review, and discuss, 7 possible, reasons/ causes, for this, and what, it may mean, and represent. 

1. 2017 Tax Reform Legislation: 

Although, politically, promoted, as great news, and helpful, to the middle - class, the greatest beneficiaries, of the 2017 tax legislation, has been, the largest corporations, and wealthiest Americans! In fact, many believe, it was, actually, Welfare, for the Wealthiest! 

One impact was, corporations, made far- more money, not predominantly, because, they expanded, their sales results, but, rather, lowered their costs/ expenses, by paying less taxes. Supporters of this, claim, when large corporations, make more, it helps others, but, the promised, employment boosts, didn't seem to occur, in any significant way! Since, corporations made greater profits, their stocks, appeared, more appealing, and thus, many investors, sought to get involved! In addition, the richest, potential, investors, ended - up, with a lot more, disposable - income! 

2. Artificially - low, interest rates: 

These past, few years, interest rates, have been, at, or near, historically, low rates! While, it made loans, more affordable, it also, made the cost, of Margin, cheaper, also! In addition, it translated - to, investors, having fewer options, because, the return, on fixed - income, investments, such as Bonds, and bank interest, lost popularity, because of the low return! 

3. Cheap Money: 

Low rates meant Cheap Money, and many took advantage, by investing. Corporations also, discovered, they could borrow, at low rates, and, make themselves, appear, far more attractive, to potential investors! 

4. Manipulation/ Day Trading: 

Larger investors appeared to try to take advantage, by using steps, manipulating, prices - upward, to their advantage! Because of the ease, created, because of the Internet, we have also witnessed, far - more, Day Trading, which, also, tends, to raise the overall, Stock Markets! 

5. The Internet: 

The expansion of Discount Brokerage Houses, and reduced minimums, commissions, etc, combined, with, the ease, of investing, created by the enhancements, from the Internet, has benefit stocks, etc! 

6. Wishful thinking: 

How much of the increase, is based, on fundamentals, and quality, and, how much, on wishful thinking, hopeful reasoning, speculation, and so - called, tips? 

7. Strong fundamentals/ optimism: 

Some of the optimism is warranted, especially, when it comes to certain stocks, with quality fundamentals! 

There are many reasons, the price of stocks, have risen! Some are deserved, some are speculative. A wise investor proceeds, with, thorough consideration, and awareness! Know, before you invest! Weigh your approaches, based on your personal comfort levels, and, on a, risk/ reward basis!

Images:Courtesy of Fool.com

Article Source: https://EzineArticles.com/expert/Richard_Brody/492539