Thursday, September 21, 2006

Make $1 per month

I recently bought a "business" on ebay for $67 (I'm a real sucker sometimes). The very convincing sales text told me that I could make $10,000 a month using an already made website. All I had to do was to pay the $67 and follow the downloaded instructions. The download link was provided immediately, but the instructions were not so easy to follow, and after a few emails to & from the seller I finally got going. First I had to register my domain name, then get my sites posted on it (I am not very good at this so I paid some one $30 to do it for me). Finally after nearly 2 weeks my web site was up and running. Now I had to get it submitted to search engines for approval - as you may know, this can take weeks, even months. Earnings to date? - zero. But these things take time (not mentioned in the sales talk when I bought it). You really can't make a fast buck. I am just going to be patient and grow my little internet business step by step. I am actually very happy just to own my little piece of cyberspace:)
Udate 15th Oct.
STOP PRESS: HOT NEWS I made 8 cents from a click on my adsense ads last week.

Wednesday, September 06, 2006

DIY Debt Management

http://www.opportunityexists.com/finance How to deal with crippling debt?

I am not a financial advisor, I don't even work in the finance industry any more, but if I can share any information I have about finances, it can't be a bad thing.

What can be done when your monthly outgoings are more than your income? There can be various solutions depending on your circumstances, but there is a less well known fact to do with credit cards and unsecured credit. As a former rep of a finance brokerage I know only too welll that many debts are with credit cards and store cards. Here is what I know - being unsecured the card company cannot take legal possession of your house as a lender of a secured loan could. So what can you do about credit cards? Firstly, calculate what you can definitely afford to pay to your credit card company, then contact them and tell them that you cannot make the monthly payments they are asking for (assuming this is the case) and that you can pay the amount you calculated and also ask them to freeze the interest - they might. DOING THIS WILL AFFECT YOUR CREDIT SCORE, but if you have already defaulted on your payments, your credit score is already affected. Another point worth mentioning is to always pay your mortgage first before any other bills, this may seem obvious, to a lender that is a big minus on your credit score. They don't care if you have £50,000 in credit card bills, but if you are just one month behind with your mortgage payments they will act by offering a loan at a higher interest rate or refuse a loan altogether, if you are looking for a secured loan. Why? Because if your home was repossessed to recover a loan the mortgage lender has first call on the property. Also the mortgage lender has to approve any loans secured on the property. Personally, I prefer to try and stay solvent.
There are non-profit charitable organizations which will act as a debt manager on your behalf, do a search on non-profit debt managers to find them on-line.