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Casual Articles - Preventing Credit Card Mess
What would happen if a world class violinist, playing on a 3.5 million dollar instrument, interpreted some of the most timeless and beautiful music ever composed in a big city metro station?That’s not a rhetorical question any longer since it was done in an experiment conducted by the Washington Post.Joshua Bell, an internationally recognized violin virtuoso was invited to play at l’Enfant Plaza, a Washington metro station on their Orange line.And nobody gave a hoot.The biggest crowd that gathered was a whopping 4 people when one lady recognized the Bell and stood aw
Third pillar: A different mindset
Live now.
"Live today" is not equal to "spend today". Mass media propagates the virtue of spending by equating it with "live now". "Carpe diem and you buy" is the message that drives a generation of debt-ridden middle class. The core of the action is to improve your spending effectiveness in bringing satisfaction. If you need to spend a lot in order to elevate your happiness or satisfaction to the level of an average person, you are highly ineffective. Find good things in life that require
Now that you have your ebook organized and the framework in place. You are ready to run (write) and keep running until the finish line. Here’s where the faint-hearted are separated from the strong. Many of my non-writer clients ask, “How do I get started and keep going?” Here are a few tips that will get you started and completed in record time.Write On Target.Successful writers write on course, on target, on purpose. However you want to express that, they set a goal, and then they navigate to the end. They find out what the hottest desire or the greatest need of their mark
First pillar: Proper credit cards administration
One of the best practices in managing your credit cards is to segregate your credit card expenses into three credit cards based on your spending pattern. The first credit card should be used for such fixed payments like utilities, subscriptions, insurance, memberships, etc. The second credit card should be kept for day to day expenses like shopping, eating out at restaurants, groceries, petrol, etc. The third credit card is for emergency cases.
Every month you need to clear the entire balances of three credit cards. You should not just pay any amount above the minimum requirement. The moment you leave a small balance, it adds up to the next month’s balance. Remember that this is a preventive action plan.
Put the second credit card away if in any month you are unable to clear the entire balances of three credit cards. Stop using the second card until you manage to pay off the entire balances of your cards in one month. You will have to pay cash for purchase made during the month. Don’t use your third credit card, it is for emergency cases only.
If you are still unable to clear the entire balances of your credit cards every month even after you have put your second card away, you should then review your monthly fixed payments that are charged to your first credit card. Some expenses may not be crucial for quality living.
Second pillar: Budget, the magic number
You just need to know how much you can charge to your second credit card in a month. You really don’t have to take out your spreadsheets or accounting software unless you enjoy using them. The calculation should be simple and straightforward. The magic number is your take home net salary less your monthly fixed expenses, i.e. repayment of home loan, insurance, memberships, school fees, etc. This magic number does not show how much you can spend but it indicates your monthly spending limit. It is a mark to ensure that you are able to pay off your entire three credit cards balances in one month. Keep the magic number in mind every time you charge an expense to your second credit card.
You must have a repayment plan in mind for big items like renovations, furniture, overseas vacations, etc., before charging the expenses to your second credit card. Do you have fixed deposits elsewhere to pay off the credit card debts? Are you prepared to sell your shares to clear the balances? Have you arranged other borrowings to pay off the credit cards debts? If you don’t have the financial resources or other financing means, do not spend on such big items. It is the start of your financial troubles. You must remember that credit card debt is the most expensive consumer debt that you can get yourself into.
Third pillar: A different mindset
Live now.
"Live today" is not equal to "spend today". Mass media propagates the virtue of spending by equating it with "live now". "Carpe diem and you buy" is the message that drives a generation of debt-ridden middle class. The core of the action is to improve your spending effectiveness in bringing satisfaction. If you need to spend a lot in order to elevate your happiness or satisfaction to the level of an average person, you are highly ineffective. Find good things in life that require
Exhibitions and trade shows are a costly marketing tool. Not only is the actual stand space and design/construction expensive but there are also the myriad of hidden costs one often doesn’t budget for; the lost production time of staff manning the stand, the subsistence costs and the handouts that are all part and parcel of stand participation.What can one do to maximise return on investment? There are a number of critical issues that should be considered:Choose your stand location carefully:People are habitual creatures. They will walk in a set pattern, which is known to s
Every month you need to clear the entire balances of three credit cards. You should not just pay any amount above the minimum requirement. The moment you leave a small balance, it adds up to the next month’s balance. Remember that this is a preventive action plan.
Put the second credit card away if in any month you are unable to clear the entire balances of three credit cards. Stop using the second card until you manage to pay off the entire balances of your cards in one month. You will have to pay cash for purchase made during the month. Don’t use your third credit card, it is for emergency cases only.
If you are still unable to clear the entire balances of your credit cards every month even after you have put your second card away, you should then review your monthly fixed payments that are charged to your first credit card. Some expenses may not be crucial for quality living.
Second pillar: Budget, the magic number
You just need to know how much you can charge to your second credit card in a month. You really don’t have to take out your spreadsheets or accounting software unless you enjoy using them. The calculation should be simple and straightforward. The magic number is your take home net salary less your monthly fixed expenses, i.e. repayment of home loan, insurance, memberships, school fees, etc. This magic number does not show how much you can spend but it indicates your monthly spending limit. It is a mark to ensure that you are able to pay off your entire three credit cards balances in one month. Keep the magic number in mind every time you charge an expense to your second credit card.
You must have a repayment plan in mind for big items like renovations, furniture, overseas vacations, etc., before charging the expenses to your second credit card. Do you have fixed deposits elsewhere to pay off the credit card debts? Are you prepared to sell your shares to clear the balances? Have you arranged other borrowings to pay off the credit cards debts? If you don’t have the financial resources or other financing means, do not spend on such big items. It is the start of your financial troubles. You must remember that credit card debt is the most expensive consumer debt that you can get yourself into.
Third pillar: A different mindset
Live now.
"Live today" is not equal to "spend today". Mass media propagates the virtue of spending by equating it with "live now". "Carpe diem and you buy" is the message that drives a generation of debt-ridden middle class. The core of the action is to improve your spending effectiveness in bringing satisfaction. If you need to spend a lot in order to elevate your happiness or satisfaction to the level of an average person, you are highly ineffective. Find good things in life that require
If you’ve ever browsed the World Wide Web and wondered how you could stake your claim on the Internet, like the millions of others that have done so already, then web hosting can provide you with the services to do just that. The Internet is a great way of sharing information and it is possible for you to take a portion of the web and make it your own. This article introduces the term “web hosting” and provides some useful tips for web development once you’ve obtained some web space.What is the World Wide Web? The “World Wide Web” is the network of computers from all over the world that
Second pillar: Budget, the magic number
You just need to know how much you can charge to your second credit card in a month. You really don’t have to take out your spreadsheets or accounting software unless you enjoy using them. The calculation should be simple and straightforward. The magic number is your take home net salary less your monthly fixed expenses, i.e. repayment of home loan, insurance, memberships, school fees, etc. This magic number does not show how much you can spend but it indicates your monthly spending limit. It is a mark to ensure that you are able to pay off your entire three credit cards balances in one month. Keep the magic number in mind every time you charge an expense to your second credit card.
You must have a repayment plan in mind for big items like renovations, furniture, overseas vacations, etc., before charging the expenses to your second credit card. Do you have fixed deposits elsewhere to pay off the credit card debts? Are you prepared to sell your shares to clear the balances? Have you arranged other borrowings to pay off the credit cards debts? If you don’t have the financial resources or other financing means, do not spend on such big items. It is the start of your financial troubles. You must remember that credit card debt is the most expensive consumer debt that you can get yourself into.
Third pillar: A different mindset
Live now.
"Live today" is not equal to "spend today". Mass media propagates the virtue of spending by equating it with "live now". "Carpe diem and you buy" is the message that drives a generation of debt-ridden middle class. The core of the action is to improve your spending effectiveness in bringing satisfaction. If you need to spend a lot in order to elevate your happiness or satisfaction to the level of an average person, you are highly ineffective. Find good things in life that require
When you have goals for your business, you expect your employees to work toward those goals. However, more often what is occurring is that work time is becoming a social hour. When you look around and see employees hanging around chatting and not getting their work done, it can be extremely frustrating. There are things that can be done to eliminate the downtime of your office.There are times when employees wait for instructions and do nothing until they get them. They follow the leader. If you have the drive and ambition to be the leader, than maybe you should try it out.There ar
You must have a repayment plan in mind for big items like renovations, furniture, overseas vacations, etc., before charging the expenses to your second credit card. Do you have fixed deposits elsewhere to pay off the credit card debts? Are you prepared to sell your shares to clear the balances? Have you arranged other borrowings to pay off the credit cards debts? If you don’t have the financial resources or other financing means, do not spend on such big items. It is the start of your financial troubles. You must remember that credit card debt is the most expensive consumer debt that you can get yourself into.
Third pillar: A different mindset
Live now.
"Live today" is not equal to "spend today". Mass media propagates the virtue of spending by equating it with "live now". "Carpe diem and you buy" is the message that drives a generation of debt-ridden middle class. The core of the action is to improve your spending effectiveness in bringing satisfaction. If you need to spend a lot in order to elevate your happiness or satisfaction to the level of an average person, you are highly ineffective. Find good things in life that require
As a chemistry teacher many years ago I instructed my students to heat iron filings and sulfur. Each time they did the result was exactly the same –iron sulfide.Wouldn’t it be nice if marketing worked the same way? Then all the career and business tips I write would work immediately. Network at a meeting one evening and the next morning tons of potential new clients or employers call you. That would be wonderful and my clients would love it! So would I!I talk to dozens of people every month who are doing career searches or practice building. The single biggest expectation is
Third pillar: A different mindset
Live now.
"Live today" is not equal to "spend today". Mass media propagates the virtue of spending by equating it with "live now". "Carpe diem and you buy" is the message that drives a generation of debt-ridden middle class. The core of the action is to improve your spending effectiveness in bringing satisfaction. If you need to spend a lot in order to elevate your happiness or satisfaction to the level of an average person, you are highly ineffective. Find good things in life that require little spending. Live now, not spend now.
Practise procrastination in buying things. After a while when you cool down it probably doesn’t seem to matter whether you own it or not.
Fourth pillar: Quality lifestyles
Focus on quality of living and not on spending. Check your credit card statements and identify your killer spending habits. Find quality alternatives. The best coffee I had was not from coffee bars like Starbucks, Strudels, etc. but from a small air-conditioned Indian restaurant. The coffee is called Bru Coffee. If a trip to Tokyo is too expensive, why not consider Sydney or Hong Kong? Spend time reading with your children instead of partying all night.
If there are material things in life that you couldn't do without, even if it means being unable to pay off your cards this month or for the next few months, you will get into credit card problems sooner or later.
Income level has got nothing to do with debts problem. There are too many bankrupt high earners around for us to know this. It is about how you treat your money, as simple as this.
Practice the four pillars and let credit card problems be a thing of the past.
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