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Financial Literacy–Pay Your Family First Endorses Thrive Time for Teens at Toy Fair 2010

Mar 14

Posted by admin in Credit, Finance

The newly announced ThriveTime for teens game grew to great lengths, gaining international exposure this weekend as Sharon Lechter, founder, CEO, and creator of Pay Your Family First, visited the famed Toy Fair 2010 in NYC to show it’s first-of-a-kind financial board game for teenagers. With more than 30,000 attendees and followers, this annual festival served as a perfect way to introduce the new game to buyers, reviewers, and toy professionals from around the globe.

National statistics state that during the economic crisis the average credit card balance in students rose to above 60 percent, student loan balances increased by a startling 90 percent and there was a 25 percent increase in students using one single credit card to pay off another in debt. Financial literacy is so important in our present day situation with the economy.

That is why ThriveTime for Teens was created. It is a brilliant situation to our crisis, and shows teens that every decision brings them to the top, or the bottom. Financial Literacy–Pay Your Family First Promotes ThriveTime for Teens at Toy Fair 2010 in New York City.

“Right now it is more important than ever for ThriveTime for Teens to be available on an international level,” said Sharon Lechter. “We are so excited to be at Toy Fair 2010 and we feel that having a global presence will give this game the traction it needs to make a difference in the lives of youngsters across the world.”

Sharon Lechter is the author of the new bestseller “Three Feet from Gold” and co-author of the international best-seller “Rich Dad Poor Dad.” Along with her organization Pay Your Family First, ThriveTime for Teens was made, given personal care, and designed to giving teens an excellent, and exciting, experiences with credit card debt, careers, work balance, time management, and confidence and success building. A result of Lechter’s 25 years of raising three kids, the game has been given international respect from top game reviews for its simple, functional, interactive, and family-friendly fun approach to learning about finances and life. It is also endorsed by SuperCamp, the leading summer enrichment program for middle school through college students held at top colleges across the nation.

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Understanding Your Credit Score – No Credit, Slow Credit Or Bad Credit

Mar 14

Posted by admin in Credit

Unfortunately, very few people have “perfect credit” but having made some mistakes in the past does not mean there is not a product for you. No credit is just that. This means that the person has no information pertaining to their payment history. The good thing is that there are other things that can be taken into consideration to show you have the ability and willingness to pay your debts. One positive thing is a history of rent payments.Another thing to show is a cell phone or land line telephone bill. Utility bills are another way to show a history of paying bills. Simply having no file does not bar a person from obtaining home financing. There is no such thing as having no credit history. There is always something available to
show a history of payment.

Unfortunately, very few people have “perfect credit” but having made some mistakes in the past does not mean there is not a product for you. No credit is just that. This means that the person has no information pertaining to their payment history. The good thing is that there are other things that can be taken into consideration to show you have the ability and willingness to pay your debts. One positive thing is a history of rent payments. Another thing to show is a cell phone or land line telephone bill. Utility bills are another way to show a history of paying bills. Simply having no file does not bar a person from obtaining home financing. There is no such thing as having no credit history. There is always something available to show a history of payment.

Scores range on average between 450 and 850. Each of the three bureaus: Trans union, Experian, and Equifax, have a different scoring system and different high and low scores. Not all creditors report to all three bureaus. A score over 700 is generally considered perfect. A score between 620 and 699 is marginal and a score below is considered what is called sub-prime.

Bad credit is a track record of payments that contains severely delinquent accounts and information such as Bankruptcy; chapter 13, chapter 11 or chapter 7. This type of file could also contain items such as foreclosure, charged off accounts, tax liens, judgments, and a history of seriously delinquent account. This type of profile can be caused by some sort of life changing event. In the case where these circumstances were caused by some unavoidable circumstances, a lender may be willing to extend a mortgage despite the history. For those with a bad payment history, a great place to start to correct the report is Lexington Law, one of the best legal credit repair companies in the country. There are hundreds of credit repair companies out there. Be careful when using their services as some of these services do not use legal avenues.

The good news is that there are products available for files in any range. There are even foreclosure saver plans available for those who are facing the loss of their home. Everyone makes mistakes and everyone has been in a situation where that person felt things could not get any worse. One has to realize that there are solutions for you no matter what your score. The good thing is that some lenders look at more than just the score. They look at job stability, extenuating circumstances , and the willingness to pay.

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Building Assets The Right Way

Mar 14

Posted by admin in Wealth Building

Anyone with a desire to be wealthy, rich, or comfortable needs to follow a few steps. The first step is to create a plan of attack. An attack on poverty, on risk and on conventional thinking. Then they actually need to follow through with their plan. The plans vary person to person. For instance, older people can’t take the same risks as young people. They don’t have the time to spare. Nor would it be easy for them to replace lost money. But anyone can choose an investment plan that will work for their situation.

To create wealth you clearly need assets. An asset is not only something with value, but something that will put money in your pocket on a regular or planned basis. The assets you acquire can be purchased, like a dividend bearing stock or an interest bearing bond. They can be created, like residual income producing assets such as a product, song, book or network marketing system or even an insurance agents list of clients. By creating an asset instead of purchasing an asset, you will be able to build wealth in the fastest possible way because there is no capital investment. The capital you save can be used to create more assets. That is how a person gets rich. By using assets to buy or create more assets. You can earn an income for years to come from the same asset. The more assets you can build or buy, the wealthier you become as long as you reinvest your income into more assets.

Most assets you create become the fundamental elements of a business. The finest businesses to build into assets are the ones where you don’t have to work every day. If you take the day off, your asset is still producing an income for you. Real Estate offers this characteristic in many different ways, through residential properties, industrial properties and commercial properties to name a few. Other vehicles exist as well, such as insurance products, books, videos, audio CD’s, DVD’s and electronic files. Network marketing systems can create millionaires with their downlines. Podcasts and audio casts and any website can be an asset that can throw off income straight into your pockets.

Assets such as these also have another advantage. They create income that is taxed at a lower rate than any paycheck. The income earned on a paycheck is taxed at the highest rates. Income earned through portfolio or passive income is taxed at the lowest rates. There are no social taxes removed either. Social Security or Medicare is not taken from either passive or portfolio income. Expenses are deducted first as well, lowering your overall tax basis.

If you believe that you are incapable of creating an asset of your own, then you will be incapable. If you believe you can build as many assets as you want and actually get to work on building and creating assets, then you will become rich as long as you never quit on yourself. This is not a get rich quick scheme. It takes some time, but after any asset is in your portfolio it will begin to earn money for you. When reinvested into more assets your income will grow. When your assets produce more income than your expenses, congratulations, you are wealthy.

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How the San Antonio Condo Market is Changing to Reflect Today’s Economic

Mar 13

Posted by admin in Finance, Real Estate

The downturn in the national housing market is the first hurdle to jump. Add to that the fact that many lenders just aren’t willing to provide financing for condos, and it becomes increasingly clear that the San Antonio is in for a bumpy ride.

One of the most obvious changes to San Antonio condos is that many builders and developers are changing their properties into rentals. Many of the new condominium projects have turned to apartment rentals, while others are simply crossing their fingers and hoping the condo market will soon improve.

San Antonio condo developers that have chosen to keep their properties instead of renting them out are finding that they must consider all of their options because of today’s tough lending standards. This seemed to be the sentiment at the Downtown Alliance of San Antonio’s State of Downtown Luncheon that was held recently as the Hyatt Regency. Centro Properties President Debra Maltz further confirmed what everyone was already thinking: that purchasing San Antonio condos in today’s market can be downright difficult.

In particular, builders are faced with new lending standards that require 70 percent of a property’s units to be sold before they can obtain financing for a new project. Because of this, many condo developers in San Antonio have abandoned condo sales in exchange for leasing apartment units. A prime example of this is St. Benedict’s on South Alamo Street. The developers of this project have switched gears from a condo building to leasable apartment units. The proposed Clay Street Flats and the Steel House Lofts have also followed suit. The Clay Street Flats project is currently on hold until the developer can secure financing.

Even those home buyers with excellent credit and a solid 20 percent down are finding it nearly impossible to secure financing in a new condominium project. Many of the condo loans are considered “jumbo” loans, as well, thereby requiring a much higher down payment. However, some developers are finding ways to squeeze past the tight lending standards and secure financing for their buyers through private bankers. Private bankers, either through the developer or the buyer, are common in many luxury condo developments, thereby enabling home buyers to avoid the hassle of securing financing through a bank lender.

Perhaps the only exception to the rule is downtown San Antonio condos. The demand for downtown San Antonio condos remains strong, thereby keeping this sector of the condo market healthy. The newly constructed Vistana, for example, is currently more than 70 percent leased. The challenges in the residential market have a ripple effect on other markets, particularly on the retail market.

Because of this, changes must be made to the struggling condo market of San Antonio so that growth in San Antonio can remain strong and the economy can remain dynamic.

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Obtaining A Loan Quickly Through A Bond Originators

Mar 13

Posted by admin in Finance, Loans

If you are looking into applying for a home loan then you may want to use the services of a bond originators. This individual will help negotiate between yourself and the bank to get you the best loan possible and there are many benefits to using an originator. You can use their services for your first loan or any subsequent loan.

The big reason that bond originators are much more successful at negotiating for a loan is that they have excellent relationships with banks and financial institutes.

Banks like them because they bring in business and the originator will get a commission form the bank with each successful loan. As an individual you will never be able to have such a good relationship and this can make the difference when applying for a loan.

Most originators offer discounts on registration fees if you have to pay a registration fee at all. When your loan application is accepted than you will not have to pay any registration fees as they will be covered by the commission the originator gets from the bank. You will also find that the application will go much faster when using an originator.

It has become much more difficult to secure a loan through the bank and the leverage that an originator can provide can help to get you great rates and a deal that you would not have been able to get on your own. They will also know what loans you qualify for and what type of deal they can recommend to give to the bank.

With the current economic situation it is much more difficult to get a loan than ever with many terms and conditions that can easily confuse those not familiar with the process. An originator will be able to explain everything to you as well as get you the best interest rates possible for your situation. They also can give you an idea beforehand of what type of loan they will be eligible for and make sure you have realistic expectations.

A bond originator can also be used to help find loans for property development, refinancing, reverse bondage loans and much more. If you are all unsure of how to get a home loan then you should use the services of an originator.

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Buying A Home – 5 Tips On Finding A Home To Fit Your Lifestyle

Mar 13

Posted by admin in Credit, Real Estate

Buying a home involves finding one that suits your particular lifestyle. it’s so easy to focus on your present circumstances, but it’s important to also consider what you expect life will be like in a few years from now. Let’s discuss the 5 home features that can affect your lifestyle:

1) What’s your Dream Lifestyle? – Does the nightclub scene suite your taste? If so, you probably want a home close to the hot spots of town where you can walk home. if you’re a business traveler, you may want to consider a town home or condo in close proximity to the airport.

2) Size Of Household – If you expect your household size to grow by adding roommates, kids, or parents, you’ll want
to consider buying a home with adequate bedrooms, bathrooms, backyard space, and a good school district. If you plan to remain single, a smaller home may be adequate.

3) Functional Layout – What daily activities will you be conducting in your home? It’s important to select a home
that allows room for your hobbies, home office, parties, or gourmet cooking. It wouldn’t make sense to choose a home with a small kitchen if you frequently entertain friends and family.

4) Home Activities – Your choice of home should match the daily activities you plan to conduct at home. Do you like to construct large indoor crafts or woodworking projects? You’ll probably want a home with ample garage space for these projects. Are you an aspiring chef? Then a home with a large kitchen and pantry would suit your needs.

5) Is This A Starter Home? – If your budget is tight and you’re barely able to qualify for a compact home, a good
idea would be to buy a minor fixer upper in a good area. By spending a little time doing minor cosmetic remodeling, you could make the very appealing and list it for greater
profit. With the extra profit earned from the sale, you can use it as a down payment on a larger home. or even a
duplex.

By addressing these 5 lifestyle facts, you’ll be able to select the best property to suit your future needs. A great exercise would be to imagine where you’d like to be in the
next 5 years. Practice this with a friend or partner and let your imagination run free without being unrealistic. You may be surprised to discover additional lifestyle goals that will define what type of home you want.

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