Another year, another decade passes us by. At this time of year, I usually think about what I have learned from the year that has just gone by, what I would have done differently, what I would like to continue doing, and what I would never do again! I have heard it said that life is full of regrets, but I beg to differ. Life is full of lessons, and it is what you do with those lessons that will determine your future.
I recently read a story about a guy called Rick Roosin, a man who had a limited formal education and very little business experience. He faced negativities and difficulties all his life. Nevertheless, he wanted to change. As he put it, "I knew for things to change I had to change. For things to get better, I had to get better." How true is that statement?
Rick started going to AA (Alcoholics Anonymous), where he learned one of the life principles I truly believe in and subscribe to - that you CAN have everything in life you want if you will just help other people get what they want. He learned that in order for him to stay sober, he had to work with others to help them stay sober. In AA, as part of the program you are on call at midnight, or 3am when someone who is "off the sauce", but is tempted to get back on, calls to get help from someone who had a similar problem but has successfully beaten that problem one day at a time.
Sober drunks sometimes stay up all night, encouraging and talking with their fellows who are struggling with a compulsion to drink. Person after person will testify that the only way they can stay sober is to help someone else stay sober.
This was Rick's first step to a better life. He said something quite profound - "I developed some faith in the future and shut the door on my past." For two years he drove around in a bomb of a car, rented an old house, and even had to rent out some of the rooms in the house to help cover the rent each month. In the meantime he started listening to motivational CDs and got interested in better health. He lost weight and became as fit as he could be. He even started reading the daily positive affirmations that came with his motivational CDs. Rick was on a mission to change the course of his destiny.
In the process of all this, his belief system changed completely. He went from thinking he was not worth $500 a week to believing he was worth $25,000 a week. Today, his income is measured in the many hundreds of thousands each year. He lives in a million dollar home, wears nice clothes, and has all the things that everyone says they want. But best of all, he sums it up by saying, "The important thing is I have a wife and two beautiful kids, and I have more delight in my family than any other phase in my life. I wake up, I look forward to what I'm going to do that day. I love my life. I love the people around me."
Rick came from a many-generation dysfunctional family, from divorce, debt, alcoholism, child abuse, etc. But he changed his direction in every area of his life - physically, mentally and spiritually. The results have been astonishing.
Here is the point. Failure is only an event, not a person. If you don't like who you are and where you are in life, don't worry. You are not stuck there. You can grow. You can change.
Remember that you are what you are and where you are because of what has gone into that space between your ears. You can simply change what you are and where you are by changing what goes into your mind. Psychologist Shad Helmstetter summed up what I am trying to say with this statement:
"You can't change from a negative mind-set to a positive mind-set without changing from negative talking to positive talking. To do that, you must first change the input to your mind from negative to positive."
You can start from where you are right now and follow the steps of Rick Roosin. They will take you to where you want to be. That is, only if you want to.
7 Easy Steps to Change Your Life Completely:
1. Identify the problem.
2. Get treatment for the problem
3. Help others out of the problem - encouragement, friendship and support is priceless.
4. Change what goes into your mind. Newspapers are informative, however there is also a lot of doom and gloom in the papers (in order to sell more papers!), so choose what you read in the paper. Get some positive information into you.
Reading and re-reading my bi-monthly blogs are a great start (also available via our website (www.nobankruptcy.com.au), follow me on Twitter, read motivational books (give fictional books a break).
5. Start saying good things about yourself, your future. You can do this in the shower, in the car, while you exercise.
6. Get healthy - when you don’t feel healthy you don't feel good. When you don't feel good you are not motivated to do anything. Remember Christmas Day when you ate too much and you couldn't move afterwards? Mmmmm.
7. Change the way you think about yourself. Stop thinking of yourself as a loser, a failure, a waste of space, and insignificant. You were created for a purpose. Find your purpose and live it out.
Success is not accidental. You are not going to accidentally accomplish your dreams. You are not going to accidentally pass your exams, or lose weight. You have to have a plan. If you are going to get to the right destination, you have got to know where you are going and how you are going to get there. The above 7 steps are a good starting point for you.
At the start of a brand spanking new year and decade, I urge you to examine where you are in life. What are your goals? What is your plan? Maybe your first goal needs to be to make a plan! Do some research, talk to people who have been successful at what you are trying to do.
People never write books about hearers. They write books about doers. That tells you something. So as this is a new year, a new decade, a new season, why not make a change. I am not talking about a New Year's resolution, I am actually talking about making a life-altering, history making change to your destiny since your life is in your hands to do what you will with it.
Friend, I believe there is a fresh, new and awesome season coming for you. You are about to enter into a season of ease and breakthrough but you will have to play your part. If you have had disappointments in the past decade, do not give up now; I believe something is brewing and this is going to be your best year and decade yet. I am excited for your future and what lies ahead. Things are being turned around in your favour - if you will keep believing, keep standing, and keep hoping; it will not be long before you enter the new season that is in store for you!
Happy New Year - your best days are just around the corner - don't give up!
Kind Regards,
Clickthru Pty Ltd
Christian Oey
CEO
Wednesday, December 30, 2009
Thursday, December 24, 2009
Reducing your post-Christmas Credit Card Debt
No-one wants to start the New Year with a lot of debt hanging over their head. If you regularly have a Christmas Credit Card Debt that you have trouble reducing quickly, you will find these tips will help get that balance down quick smart!
The year 2009 has been a rather horrific financial year for most people so if you can start 2010 in a better state you will be much better off.
Reduce your Christmas debts by followig these steps:
Set up a post Christmas household budget including paying off your credit card. The holidays are over so tighten the budget and get the debt paid off as quick as possible. It all helps. Set a goal to pay it off in the first 3 payments and you will be reducing the interest considerably.
Set a goal to stop using your credit card until you have the balance paid off
Open up a high interest savings account for the following Christmas and include in your budget, weekly payments into it the savings account.
Start buying presents as early as September and start buying tinned and frozen food in October. By spending a little on food each week you will not have to buy a lot of your staple products prior Christmas and the Christmas food expenses won’t cut into your budget too much. Bake early and freeze so that the expenses are not all in the last few weeks. If you can stock pile food before Christmas the January food bill will be cheaper and you can pay the surplus off your Christmas credit card debt.
Consider transferring your credit card balances on to a new balance transfer credit card
The year 2009 has been a rather horrific financial year for most people so if you can start 2010 in a better state you will be much better off.
Reduce your Christmas debts by followig these steps:
Set up a post Christmas household budget including paying off your credit card. The holidays are over so tighten the budget and get the debt paid off as quick as possible. It all helps. Set a goal to pay it off in the first 3 payments and you will be reducing the interest considerably.
Set a goal to stop using your credit card until you have the balance paid off
Open up a high interest savings account for the following Christmas and include in your budget, weekly payments into it the savings account.
Start buying presents as early as September and start buying tinned and frozen food in October. By spending a little on food each week you will not have to buy a lot of your staple products prior Christmas and the Christmas food expenses won’t cut into your budget too much. Bake early and freeze so that the expenses are not all in the last few weeks. If you can stock pile food before Christmas the January food bill will be cheaper and you can pay the surplus off your Christmas credit card debt.
Consider transferring your credit card balances on to a new balance transfer credit card
Tuesday, December 22, 2009
Cheaper mortgages are out there
John Collett - SMH - December 16, 2009
Experts say customers should be prepared to look beyond the big banks.
Westpac's decision to raise its standard variable interest rate by 0.45 percentage points when the offical rise in the cash rate was 0.25 percentage points is a public relations disaster. The rate hike, almost twice that of the Reserve Bank, has outraged the Government and will outrage its home-loan customers, especially those who have only just taken out a mortgage with the bank.
Prime Minister Kevin Rudd said last week that the bank had done the "wrong thing" through its rate hike and urged customers to take their business elsewhere if they were concerned.
"Customers out there should be looking at where else they can do their banking," he said.
NAB lifted its mortgage rate by 0.25 percentage points, ANZ by 0.35 percentage points and CBA by 0.37 percentage points. Of the big four, NAB now has the lowest rate of 6.49 per cent, with Westpac the most expensive at 6.76 per cent.
"We have had a lot of feedback from people who have recently taken out Westpac loans that are reconsidering and we expect to see a fair amount of switching from Westpac to NAB," says the chief executive of financial comparison site Infochoice.com.au, Shaun Cornelius.
"Consumers are letting the big banks get away with too much."
There is almost a full percentage point difference between the big-bank rates and the smaller players and the gap is widening, he says.
For a while now, the banks' mortgage rates have decoupled from changes in the cash rate. When the cash rates were being cut the banks handed on less to their mortgage customers. Economists say further rate rises will be needed next year and beyond to keep inflation in check as the economy improves. The cash rate is now 3.75 per cent.
The chief economist at AMP Capital Investors, Shane Oliver, expects the cash rate to increase to 4.75 per cent or 5 per cent by the end of next year as the economic recovery gathers pace. He says that while the Reserve Bank will continue to raise the cash rate, it will do so only gradually. He says the additional increases in bank lending rates may even stop the Reserve Bank from more aggressive rises.
Oliver is sceptical about the banks' claims that the rises reflect the increase in funding costs. The banks are paying higher interest rates on their deposit accounts but Oliver doubts that the cost-of-funding argument can fully justify the increases in mortgage rates.
Before the global financial crisis, the big banks were charging mortgage holders about 1.8 percentage points more than the cash rate.
Oliver says that margin is now approaching 3 percentage points.
Cornelius also doubts whether the increases are fully justified. He says the reason for the super-charged mortgage rate hikes are more likely to be that the highly profitable banks are not under enough pressure from their customers. It is up to consumers, if they are not getting a good deal from their bank, to move to a cheaper lender, he says.
The standard variable mortgage rate of the big four banks is 6.63 per cent, on average. That could could rise close to 8 per cent by the end of 2010 if the banks continue to increase their rates by more than the increases in the cash rate before peaking in late 2011.
Cornelius says mortgage holders should factor in increases in mortgage rates of at least 2 percentage points to be on the safe side.
The rate rises should be kept in perspective. Normal standard variable rates are about 8 per cent and rates are increasing from a decades-low cash rate.
Cornelius says it is too late to take out a fixed-rate mortgage. The best time to fix was at the beginning of this year when three-year fixed rates were about 5.5 per cent. Three-year fixed rates are now about 7.5 per cent as money markets have already factored in higher cash rates.
Cornelius says consumers should stick with variable rates but shop around for a better rate, while being aware that if they move they may be hit by an exit fee. The exit penalty typically applies if a mortgage is terminated within five years. The penalty can be levied as a flat fee or a percentage of the loan value. They are sometimes tiered so that the earlier the termination, the higher the penalty. But the savings by switching lenders, even if a penalty is incurred, are potentially large, Cornelius says.
Experts say customers should be prepared to look beyond the big banks.
Westpac's decision to raise its standard variable interest rate by 0.45 percentage points when the offical rise in the cash rate was 0.25 percentage points is a public relations disaster. The rate hike, almost twice that of the Reserve Bank, has outraged the Government and will outrage its home-loan customers, especially those who have only just taken out a mortgage with the bank.
Prime Minister Kevin Rudd said last week that the bank had done the "wrong thing" through its rate hike and urged customers to take their business elsewhere if they were concerned.
"Customers out there should be looking at where else they can do their banking," he said.
NAB lifted its mortgage rate by 0.25 percentage points, ANZ by 0.35 percentage points and CBA by 0.37 percentage points. Of the big four, NAB now has the lowest rate of 6.49 per cent, with Westpac the most expensive at 6.76 per cent.
"We have had a lot of feedback from people who have recently taken out Westpac loans that are reconsidering and we expect to see a fair amount of switching from Westpac to NAB," says the chief executive of financial comparison site Infochoice.com.au, Shaun Cornelius.
"Consumers are letting the big banks get away with too much."
There is almost a full percentage point difference between the big-bank rates and the smaller players and the gap is widening, he says.
For a while now, the banks' mortgage rates have decoupled from changes in the cash rate. When the cash rates were being cut the banks handed on less to their mortgage customers. Economists say further rate rises will be needed next year and beyond to keep inflation in check as the economy improves. The cash rate is now 3.75 per cent.
The chief economist at AMP Capital Investors, Shane Oliver, expects the cash rate to increase to 4.75 per cent or 5 per cent by the end of next year as the economic recovery gathers pace. He says that while the Reserve Bank will continue to raise the cash rate, it will do so only gradually. He says the additional increases in bank lending rates may even stop the Reserve Bank from more aggressive rises.
Oliver is sceptical about the banks' claims that the rises reflect the increase in funding costs. The banks are paying higher interest rates on their deposit accounts but Oliver doubts that the cost-of-funding argument can fully justify the increases in mortgage rates.
Before the global financial crisis, the big banks were charging mortgage holders about 1.8 percentage points more than the cash rate.
Oliver says that margin is now approaching 3 percentage points.
Cornelius also doubts whether the increases are fully justified. He says the reason for the super-charged mortgage rate hikes are more likely to be that the highly profitable banks are not under enough pressure from their customers. It is up to consumers, if they are not getting a good deal from their bank, to move to a cheaper lender, he says.
The standard variable mortgage rate of the big four banks is 6.63 per cent, on average. That could could rise close to 8 per cent by the end of 2010 if the banks continue to increase their rates by more than the increases in the cash rate before peaking in late 2011.
Cornelius says mortgage holders should factor in increases in mortgage rates of at least 2 percentage points to be on the safe side.
The rate rises should be kept in perspective. Normal standard variable rates are about 8 per cent and rates are increasing from a decades-low cash rate.
Cornelius says it is too late to take out a fixed-rate mortgage. The best time to fix was at the beginning of this year when three-year fixed rates were about 5.5 per cent. Three-year fixed rates are now about 7.5 per cent as money markets have already factored in higher cash rates.
Cornelius says consumers should stick with variable rates but shop around for a better rate, while being aware that if they move they may be hit by an exit fee. The exit penalty typically applies if a mortgage is terminated within five years. The penalty can be levied as a flat fee or a percentage of the loan value. They are sometimes tiered so that the earlier the termination, the higher the penalty. But the savings by switching lenders, even if a penalty is incurred, are potentially large, Cornelius says.
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Wednesday, December 16, 2009
Banks push up interest rates confirming that borrowers are being ripped off...
Good story by The Public Defender - John Rolfe - in today's Daily Telegraph... Banks' higher rates confirms that they're ripping borrowers off.
Tuesday, December 15, 2009
An Amazing Loan
Met a single mother today who has many credit cards and personal loans. The interest rate on one was 39.9%!!! Unbelieveable! She luckily only borrowed a small amount, but even so, she'll be paying interest forever!
That's the record rate for me.
At 40% a year, it means that every 2.5 years the debt doubles!
Some lenders have no conscience!
That's the record rate for me.
At 40% a year, it means that every 2.5 years the debt doubles!
Some lenders have no conscience!
Sunday, December 6, 2009
GO! beats TEN for PPL 16-39
With GO! beating TEN for one hour last Sunday night, for the not-too-shabby demo of 16-39s, it won't be long before the rates for GO! go... up!
Right now they offer great value for money on a CPM basis, for 16-39s at least.
Right now they offer great value for money on a CPM basis, for 16-39s at least.
Thursday, December 3, 2009
The things people do... on credit cards
Met another GFC victim today, paying off $45k Credit card debt, so not as bad as last week's meetings - two people with $150k each on cards!
I just don't understand how people can get that far into debt without doing something about it... or at least their accountant/financial adviser ringing the alarm bells.
This week's interest rate hike only means it will be getting worse... and more to follow next year... you can BANK on that!
Met another credit card devotee earlier this week, and he had signed up for a personal loan, (not with a bank though). He didn't read the fine print, which had interest of 34.95%!!!!!!
That's just daylight robbery!!!
I just don't understand how people can get that far into debt without doing something about it... or at least their accountant/financial adviser ringing the alarm bells.
This week's interest rate hike only means it will be getting worse... and more to follow next year... you can BANK on that!
Met another credit card devotee earlier this week, and he had signed up for a personal loan, (not with a bank though). He didn't read the fine print, which had interest of 34.95%!!!!!!
That's just daylight robbery!!!
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