Focusing On Your Core Genius Will Lead The Way To Success.

Blogging has become such a pleasure for me it is virtually effortless. I actually find myself not wanting to do anything else and find myself addicted. Along with my other business passions blogging has become one of the loves in life. Besides my wife of course.


One of my favorite motivational speakers is Jack Canfield. He calls what I just discussed your core genius.

He believes you have inside you a core genius...some one thing that you love to do, and do so well, that you hardly feel like doing anything else. It's effortless for you, and a whole lot of fun. And if you could make money doing it, you'd make it your lifetime's work. Successful people believe this, too. That's why they put their core genius first. They focus on it-and delegate everything else to other people on their team.

For Jack, his core genius lies in the area of teaching, raining, coaching and motivating. He loves to do it, He does it well, and people report that they get great value from it. Another core genius is writing and compiling books. Along with his co-author Mark Victor Hansen and others, Jack has written, co-authored, compiled and edited more than 100 books.

Compare that to other people in the world who go through life doing everything themselves, even those tasks they're bad at or that could be done more cheaply, better, and faster by someone else. They can't find the time to focus on their core genius because they fail to delegate even the most menial of tasks.

When you delegate the grunt work--the things you hate doing or those tasks that are so painful, you end up putting them off--you get to concentrate on what you love to do. You free up your time so that you can be more productive. And you get to enjoy life more.

So why is delegating routine tasks and unwanted projects so difficult for most people? Surprisingly, most people are afraid of looking wasteful or being judged as being above everyone else. They are afraid to give up control or reluctant to spend the money to pay for help. Deep down, most people simply don't want to let go.

Other (potentially you) have simply fallen into the habit of doing everything themselves. "it's too time consuming to explain it to someone," you say. "I can do it more quickly and better myself anyway." But can you?

DELEGATE COMPLETELY

One of the strategies Jack uses and teaches is complete delegation. It simply means that you delegate a task once and completely--rather than delegating it each time it needs to be done.

When Jack's niece came to stay with him one year while she attended the local community college, they made a complete delegation--the grocery shopping. They told her she could have unlimited use of their van if she would buy the groceries every week. They provided her with a list of staples that they always wanted in the in the house (eggs, butter, milk, ketchup, and so on), and her job was to check every week and replace anything that was running low.

In addition, Jack's wife planned meals and let her know which items she wanted for the main courses (fish, chicken, broccoli, avocados, and so on). The task was delegated once and saved them hundreds of hours that year that could be devoted to writing, exercise, family time and recreation.

Most entrepreneurs spend less than 30% of their time focusing on their core genius and unique abilities. In fact, by the time they've launched a business, it often seems entrepreneurs are doing everything but the one thing they went into business for in the first place.

Many loan originators, for example, spend more time on account administration than they do on the phone or in the field making sales, when they could hire a part-time administrator (or share the cost with another sales-person) to do this time-consuming detail work. In most cases, in a fraction of the time it would take them and at a fraction of the cost.

DON'T LET THIS BE YOUR FATE

Identify your core genius, then delegate completely to free up more time to focus on what you love to do.

Jack believes that you can trade, barter, pay for and find volunteer help to do almost everything you don't want to do, leaving you to do what you are best at--and which will ultimately make you the most money and bring you the most happiness.

For me this works great having employees, a maid, etc. frees up tons of time to give the time you need to focus on your core genius and concentrate on what makes you the happiest.

Jack Canfield is known as America's Success Coach. He is trhe founder and co-creator of the billion dollar book brand Chicken Soup for the Soul and a leading authority on Peak Performance to learn more visit FreeSuccessStrategies.com

This Will Only Sting For a Moment And Then Your Cares Will Be Over For Good.

As you should all know "This has all happened before and it will happen again" in regards to the economy. Things undoubtedly are going to get better. They always do.

CNN Money reported that a survey of leading economists finds them now forecasting a far deeper and more painful recession ahead in the first half of the year, but a modest pickup in the second half of 2009, followed by a solid recovery in 2010.

The forecasts holds little good news for the first half of this year. The economy is expected to decline at a 5% rate in the first quarter, even sharper than the 3.8% drop recorded in the fourth quarter of last year. And the group is forecasting another 1.7% drop in economic activity in the second quarter.

While the economists surveyed are forecasting a 1.6% gain in economic activity the second half of this year, that won't be enough to overcome the first half weakness, which should result in a 0.9% full-year drop in U.S. economic activity when comparing the fourth quarter of this year to a year earlier. That would be the biggest drop on that basis since 1982, and far worse than the year-over-year decline of 0.2% recorded in the fourth quarter of 2008.

The United States is seen as the most likely major economy to emerge from the global recession first, according to the survey. The survey found 34% expect the U.S. back on its feet first, followed by 28% who believe China would be first to recover and 13% who picked Canada. Less than 4% picked European economies as the most likely to lead the recovery.

Economists are very optimistic that this will start turning around by the end of the year and so should you. Who else out there is feeling optimistic? I am.

Not Everyone is Going To Get Help From Obama's Foreclosure Prevention Plan.

My wife asked me last week if the President Obama's foreclosure plan was going to help all home homeowners. At the time I didn't have a clear answer, but the next day CNN Money reported that it would not.

Do you fit into these scenarios?

-Don't have a job?

-Struggling to keep up with payments on a home worth less than half the mortgage?

-Owe way more than your home's value, but can still afford the payments?

Sorry, but you likely aren't among the 9 million people who may get help under President Obama'a $75 billion foreclosure prevention program.

The program, unveiled last week, is being hailed as the most comprehensive fix for the foreclosure crisis plaguing the nation. The president says it helps both responsible homeowners suffering from falling home prices and borrowers either at risk of or already in default.

But not everyone will benefit. The program does virtually nothing for the unemployed, who often don't have enough income to make any reasonable monthly payment affordable. And, since it relies more heavily on lowering interest rates than on reducing principal, it does little for borrowers concerned their homes will never recoup their value.

The administrations program isn't designed to help every homeowner, experts said. Nor should it.

The plan call for loan servicers to modify mortgages fro those at risk of or already in default so that the monthly payment is no more than 31% of the borrowers income. This will be done primarily through interest rate reductions, which are more palatable to most servicers than principal write-downs. The federal government will subsidize the interest rate reductions, as well as provide a multitude of incentives for servicers, mortgage investors and borrowers.

Also, borrowers with little or no equity in their homes who are on time with their payments could be eligible to refinance to take advantage of the current low interest rates, which hover around 5%. The plan lifts the guideline that borrowers must have at least 20% equity refinance, allowing those with loans as large as 105% of their home's value to qualify. This is designed to help people who have seen their equity eaten away by falling home prices.

There is going to be no happy medium with this, which leaves me to say let the chips fall where they may.

Those who bought homes that they couldn't afford need to rent a room out or go get a second job. You made the investment choice you need to live with it.

I don't want to see the economy continue to worsen, but it will if this doesn't come to an end soon. But the issue I have is not with those who are responsible and are doing whatever it takes to make their house payment.

I am tired of everyone wanting to get bailed out all the time. You need to be accountable for your actions. I have lost a lot of money in the stock market, just as a lot of other people have, but should I be getting reimbursed by the companies I own stock in for what I lost? Of course not, I made the decision and now I have to wait it out.

People have what I call removing animals from the wild syndrome. When you take an animal out of the wild and care for it as pet, say as with a turtle, it forgets how to take care of itself. If you let back into the wild it doesn't know how to find food anymore and eventually it will die. Get up on your feet and don't be a bunch of animals. Get out there and fight for what you want. Don't rely and someone else to bail you out.

Financial Motivational Quote February 28, 2009

"Happy the man who, like Ulysses, has made a fine voyage, or has won the Golden Fleece, and then returns, experienced and knowledgeable, to spend the rest of his life among his family!"- Joachim Du Bellay

Financial Motivational Quote February 27, 2009

"You must not allow yourselves to become discouraged. Missionary work brings joy, optimism, and happiness. Don't give Satan an opportunity to discourage you. Here again, work is the answer. The Lord has given us a key by which we can overcome discouragement: "Come unto me, all ye that labor and are heavy laden, and I will give you rest. Take my yoke upon you, and learn of me; for I am meek and lowly in heart; and ye shall find rest unto your souls. For my yoke is easy and my burden light." (Matthew 11:28-30.)- Ezra Taft Benson

Financial Motivational Quote February 26, 2009

"It is a shameful thing for the soul to faint while the body still perseveres."- Marcus Aurelius Antonimus

Homeowner Affordability And Stability Plan Unveiled By President Obama

President Barack Obama unveiled the Homeowner Affordability and Stability Plan last week, a $75 billion program intended to help responsible homeowners who are facing hardships and unable to afford their monthly payments, as well as those affected by falling home prices who now owe significantly more than their homes are worth.

Strategies of the plan include:

-Enabling as many as five million currently ineligible homeowners who receive their mortgages through the Federal National Mortgage Association (Fannie Mae) and the Federal Home Loan Mortgage Corporation (Freddie Mac) to refinance at lower rates.

-Providing new incentives for lenders and borrowers to modify the terms of loans at risk of default and foreclosure. Lenders wishing to receive financial assistance from the government will be requested to adhere to guidelines.

-Directing funds already approved by Congress for this purpose to enable the Treasury Department and Federal Reserve to continue purchasing mortgage backed securities from Fannie Mae and Freddie Mac.

ENABLING MORE REFINANCES TO TAKE ADVANTAGE OF CURRENT LOW RATES

The plan permits Fannie Mae and Freddie Mac to purchase or guarantee refinance loans for borrowers who owe more than 80% of their home's value--including those with loan to value ratios up to 105%. Current requirements restrict a borrower's refinance opportunities.

$75 BILLION HOMEOWNER STABILITY INITIATIVE

-For servicers willing to reduce the monthly housing payment to 38% of monthly income, the Treasury will pay half the cost of further reducing the payment down to 31% of monthly income.

-Participating servicers will receive an upfront incentive fee of $1,000, and an additional $1,000 each year that the loan stays current (for three years).

-Servicers also will receive an additional incentive payment of $500, and the mortgage holder an incentive payment of $1,500 for modifying at risk borrowers before the borrower fall behind.

-Participating mortgage holders also will receive an "insurance" payment based on the extent home values decline after the modification.

-Borrowers will receive a $1,000 payment towards reducing principal each year he or she remains in the home for the first five years.

-The Treasury will develop, by March 4, uniform guidance for loan modifications that would be used by Fannie Mae and Freddie Mac, and financial institutions receiving new financial assistance from the government.

STRENGTHENING FANNIE MAE AND FREDDIE MAC TO IMPACT MORTGAGE RATES

In an effort to keep mortgage rate slow, the Treasury will increase its investment in Fannie Mae and Freddie mac by another $100 billion each. It also will allow them to add more mortgages to their portfolios.

OTHER FORECLOSURE PREVENTION MEASURES

Other measures include:

-Legislative proposals to allow judicial modification of mortgages for borrowers declaring bankruptcy and to improve the Hope for Homeowners program.

-Relocation assistance to renters displaced by foreclosure on their landlord's property

-$2 billion in Neighborhood Stabilization funds.

Financial Motivational Quote February 25, 2009

"Keep in mind that neither success nor failure is ever final."- Roger Ward Babson

Becoming A Entrpreneurial Sensation In Less Than Four Years.

In my series "No Excuses For Going Into Foreclosure Or Not Making Your Credit Card Payment" I discuss my adventure of working a second full time job. It is meant to show if I can work two full time jobs anyone can...if you need to too. It has also helped me to meet and learn about many fascinating people.

While working the Snowsports Trade Show (SIA) I come across the Ed Hardy Snow booth. I first became aware of Ed Hardy by all the T-shirts you can find for sale. But I became extremely interested by the amount have branding for Ed Hardy that has gone on in just a few short years.

I happened to read an article from California Apparel News that discussed Chrisitian Audigier, the designer behind the Ed Hardy brand. Christian helped to license Ed Hardy's tattoo inspired art and graphics (that not only grace T-shirts, but jeans, shoes, energy drinks, vodka, motorcycle helmets, wine, air fresheners, tanning products and housewares) to now include snow wear and hardgoods licensed by Winter Concepts.

The Los Angeles based company with a multi year exclusive license, will produce Ed Hardy Snow snowboards, skis, bindings, helmets, gloves, goggles, face masks, snow pants, snow jackets, beanies, and snow vests for men, women and juniors. Buyers got the fist glimpse of the gear at the Action Sports Retailer Trade Expo in San Diego back in January.

Ed Hardy Snow is targeting major departments stores and high end boutiques in ski resort destinations. Products are manufactures overseas and domestically. Looking o appeal to the core market, the brand is in sponsorship negations with athletes.


Don "Ed" Hardy is known as "the godfather of modern tattoo," for his sophistication, depth ans sense of experimentation. A California native Don "Ed" Hardy is recognized around the world for his technical brilliance and mesmerizing imagery. Don Ed Hardy pulls from life experience to meld American, Japanese, Cholo, tattoo, surf and hotrod iconography. This broad spectrum of taste and experience, couples with an ongoing investigation of various art histories and a mastery of technique, give his work a unique range and depth.

Don Ed Hardy is a painter, print maker and tattoo artist, Fascinated by tattoos since childhood. Hardy has become a master of his craft while continuing his work in the more traditional mediums of painting and drawing.

The other half to this growing empire is considered one of the most meteoric rises in fashion history.


Christian Audigier has parlayed his designing experience and business

to become a true fashion icon and entrepreneurial sensation in less than four years. Through his collection of international companies, he has launched nine popular brands with over sixty licenses. He overseas an international conglomerate of his designer brands, including Ed Hardy, Christian Audigier, SMET, Crystal Rock, most recently C-Bar-A, Savior Faire, Evel Knievel, Rock Fabulous, and Paco Chicano, this includes US and International wholesale distribution, US retail stores, as well as International retail stores.

Christian made his mark throughout the fashion industry after a fortuitous start at MacKean jeans. He has contributed to successful brands such as Diesel, Fiorucci, Bisou Bisou, Levi's, NafNaf and American outfitters. Christian's style is so distinctive that he is known as the "King of Jeans."

In 2004, Christian let Von Dutch and proceeded to create and launch the wildly popular Ed Hardy brand. he was granted the exclusive rights to the designs of Don Ed Hardy. With Ed Hardy, Christian not only created a brand, but a lifestyle of street couture.

Christian has built a fervent following for his Ed Hardy and the eponymous Christian Audigier brands. Celebrities such as Madonna, Britney Spears, and Kayne West, among others are frequently seen wearing his unique designs.

These two gentleman go to show you can do anything if you put your mind to it. And it doesn't have to take a life time either. If you have a business idea or passion for something go for it. Get started now.

Financial Motivational Quote February 24, 2009

"The most successful men in the end are those whose success is the result of steady accretion...It is the man who carefully advances step by step, with his mind becoming wider and wider--and progressively better able to grasp any theme or situation--persevering in what he knows to be practical, and concentrating his thought upon it, who is bound to succeed in the greatest degree."- Alexander Graham Bell

Should I Use A Debt Consolidation Company To Pay Off My Debt?

A family member asked me, "Should I use a debt consolidation company to pay off my debt?" My answer was no.

Everyday I see or hear about more debt consolidation companies offering that easy fix, but they can do more harm than good.

The debt consolidation companies that offer to help you pay off your debt are often rip-offs and can end up doing serious further damage to your credit score. Sometimes they even leave you with more debt then what you started with.

It's easy to get suckered in when you hear how much your payments can be reduced. The thought of all that stress going away just makes you want to pick up the phone right now.

The thing with most debt consolidation companies is they don't explain that they typically charge 10% of what you owe to take on your case. If they end up working out a settlement with your creditors, they will take another 10% of the amount they supposedly saved you.

The other thing is they don't exactly tell you the settlement they get for you will ruin your FICO score and could end up costing you income tax on the amount you that was forgiven.

A lot of times the debt consolidation company takes the up front fee and runs. Doing nothing to help you and ruining your credit further by promising to make your payments and never doing so. Thus, leaving you out the initial fee you paid to get started and potentially having your interest rates go up even further for non-payments.

There is no easy way out of debt. It's like losing weight, you can gain it really fast, but it's hard to take it off. Same goes for debt, you can pile it on really fast, but it takes time to pay it off.

Anyone promising you a magic bullet is not giving you the whole story. Remember if something sounds to good to be true it probably is.

We had several recent posts on a new program supported by many banks and credit networks called HelpWithMyCredit.org. If you are in trouble with your debt, I feel is this is great place to start.

One of the companies endorsing HelpWithMyCredit.org is the National Foundation for Credit Counseling. The network is a non-profit organization with trained accredited counselors who will evaluate your situation and help develop a plan for you to follow. The don't provide the magic bullet either, as we discusssed there is no easy way out. But the guys at HelpWithMyCredit.org and National Foundation for Credit Counseling are organizations you can trust. Go to NFCC.org or call 800-388-2227 or HelpWithMyCredit.org or call 1-866-941-1030.

Financial Motivational Quote February 23, 2009

"You have achieved success if you have lived well, laughed often and loved much." Anonymous

Financial Motivational Quote February 22, 2009

"You cannot sit on the road to success for if you do, you will get run over."- Anonymous

The Affluent Have Secrets To Being Rich

I love Loral Langemeier's views on wealth. Her books "The Millionaire Maker" and "The Millionaire Maker's Guide to Creating a Cash Machine For Life" discuss what I would say is just common sense, but to most her suggestions might feel like going against the grain.

Here Loral explains the secrets of the affluent, which really shouldn't be secrets at all, but information that should be known to everyone.

Wealthy people understand the Wealth Cycle. Truly wealthy people aren't those you see with expensive houses and fancy cars but are simultaneously cash poor. The wealthy people she has met managed their investment portfolios so that they had cash, income and equity producing assets, and they continued to increase their wealth month after month.

Loral certainly didn't become a millionaire by the age of 34 by buying and holding on to one big house and pouring the rest of her money into an IRA or 401k. She became a millionaire, and continues to grow her wealth, by building a business that created a steady cash flow, and by using that cash and/or other people's money to buy assets.

Those assets in turn generate more cash either monthly, or on a long term basis, which she uses to purchase even more assets.

Do you see how this works? The basic concept is simple, and it may be the most important concept you ever learn about wealth and money.

First, you'll need what she calls a Cash Machine. It's not a job and it's not necessarily your life's ambition. The cash machine is simply a way to make you money to buy assets. Down the road, after you are earning enough income each month from your assets, you can own and operate your dream business.

Second, you use your cash to invest in opportunities that will yield an above average return on investment. You do this through true diversification. We are told that a diversified portfolio is one in which you've got a blend of stocks from different industries, some mutual funds, and even a bond fund. true diversification is very different.

REAL DIVERSIFICATION

While the affluent may have some of their money invested in stocks and mutual funds, it is typically only a fraction of their true wealth. Instead, these savvy money managers invest in:

-Multiple real estate opportunities (i.e. single family dwellings, apartment houses, strip malls, warehouses, office buildings, etc.).
-Business ventures (i.e. not just the stock, but partial or total ownership of the business itself).

-Oil and gas wells (again, the actual wells, not the stock of oil and gas companies).

If you have any desire toward affluence--that is, living the kind of life you really want--then you'll change how think about investing. the beauty of this secret is that you don't have o be wealth to use it. You can start today--right now--educating yourself on this Wealth Cycle of the affluent. You'' reserve money each month with which you'll purchase assets. You may start with cash producing assets that soon bring in more money to purchase equity producing assets, and even more cash producing assets. And so the cycle continues, bringing you to millionaire status within 3-5 years.

Know this: when you achieve millionaire status through wealth cycle investing, you learn how to continue to grow your wealth while you're living the affluent life. Unlike lottery winners whose sudden wealth quickly drains away, you build--and continue to build--your wealth, year after year.

3 THINGS YOU CAN DO TODAY TO BECOME A MILLIONAIRE:

You need to do a good job of building your team to have a working cash machine.

1. LOOK TO YOUR ROLE MODELS- Whom do you know an admire that's been successful? I'd like to be like ______. Whether it's someone with similar graphic design skills, or someone who has the pro golf shop you dream of having. Look to them as leader. They might make good mentors and be willing to come aboard your team as consultants or colleagues.

2. GATHER SUPPORT PLAYERS- You'll need people with strengths outside of your own that add value to your business ventures and free up time for you. Administrative assistants and utility players such as bookkeepers or copywriters flesh out he team. So do the support people such as housekeepers and nannies.

3.CREATE A TEAM NETWORK- Your team isn't just working for you. They're working with you and each other. It's important to make introductions and communicate roles and responsibilities. Connect the dots and resources you have so that so that everyone is working together, leveraging the best of each others abilities.

I have begun initiating the guidline's Loral suggests and have begun to see dreams turn into reality. I reccomend that you read her books and give it a try for yourself.

Loral Langemeier is founder and CEO of live Out Loud and the author of "The Millionaire Maker." Learn more at liveoutloud.com

Transferring Credit Card Balances to Low Interest Rate Cards Might Save You Money

With credit card interest rates going up, you might want to consider transferring balances to a card with a lower interest rate.

Low rate APR credit cards are looking more and more attractive, and in some cases may even be a better deal than credit cards offering 0% deals on purchases and balance transfers.

There are still credit cards out there that offer 0% or a very low interest rate for 12 months for balance transfers. It's a great opportunity to pay down as much as you can over the monthly minimum and pay down your balance over 12 months. But, when the the interest free period is up, you will start paying the credit card issuer's normal interest rate, which could be 17% or more.

After the lower introductory rate is over you could switch again, but you could end up paying balance transfer fees, up to 3%, all over again. In most cases the amount you save on interest payments should more than offset the fee.

Here are some things to consider when transferring balances:

SMALL PRINT: Be sure to read the small print about teaser rates. Be sure the introductory rate is long enough to offset the balance transfer fee.

CHECK THE LENGTH OF THE INTRODUCTORY RATE: Most last up to a year, but it's not uncommon for the low introductory rate to expire after three or six months.

IS THE CREDIT LIMIT HIGH ENOUGH: Be aware that credit card companies may not give a credit line high enough to transfer all of your debt. You'll end up paying part of your debt on the old card and part of it at the lower introductory rate. But a portion of debt at a lower rate is better than nothing.

CHECK THE BALANCE TRANSFER FEE: Be sure to check the balance transfer fee and that the lower introductory rate out weighs the amount of the balance transfer fee.


In Suze Orman's new book "Suze Orman's 2009 Action Plan" she discusses how important it is to get out of credit card debt now and that it is the number one action to take in 2009. If transferring balances to a lower rate card will help you do that, than by all means do so. There are a lot of credit card options to chose from. Just make sure you do your homework and pick the card that's right for you.

For a variety of credit card options visist credit-land.com.

Financial Motivational Quote February 21, 2009

"What you get by reaching your destination is not nearly as important as what you will become by reaching your destination."- Zig Ziglar

Answers to Questions About "Help With My Credit"

After a couple of posts regarding "Help With My Credit" and the Web site HelpWithMyCredit.org I received several questions about the new program. Here are the most frequently asked questions and the answers to these questions.

WHAT IS HELP WITH MY CREDIT?

Help With My Credit is a resource provided by leading credit card issuers and payments to networks to raise awareness and educate consumers struggling to make their credit card payments about assistance available to them, including the work the companies are already doing individually to assist their cardholders.

The companies participating in Help with My Credit have joined together to make it easier for consumers who are unsure about where to turn for help to access tools and information that can help them get back on track. These credit card issuers and payments networks understand that many consumers are unaware of resources available to assist them in managing their credit.

Help With My Credit features a toll free phone number, 1-866-941-1030, that informs consumers about resources of payment assistance, such as specialized customer service representatives within individual credit card issuers, or accredited credit counseling agencies. It also includes a web site, HelpWithMyCredit.org, where consumers can find helpful information about how to manage their credit cards, better communicate with their credit card issuers, and identify and speak with an accredit credit counselor.

WHO IS INVOLVED IN HELP WITH MY CREDIT?

Currently, companies participating in Help With My Credit include credit card issuers Bank of America, Capital One, Citi and Discover Card, in cooperation with payments networks MasterCard and Visa.

WHY DID THE COMPANIES LAUNCH HELP WITH MY CREDIT?

There is a real need to raise awareness of the resources available for consumers struggling with credit card payments. The credit card issuers and payments networks participating in Help With My Credit understand that many consumers are unaware of resources available to assist them in managing their credit.

Many consumers who are struggling to make their credit card payments are unsure about where to turn for help. Help With My Credit was launched to let consumers know that they should call their issuing banks if they are struggling to make their credit card payments. It is in both the lender and borrower's interest for the consumers to make their card payments. Card issuers can work with consumers to keep them from falling behind. Help with My Credit can also help direct consumers to an accredited credit counseling agency.

WHAT DOES HELP WITH MY CREDIT PROVIDE TO CONSUMERS?

The Help With My Credit Web site, HelpWithMyCredit.org, offers tools and information to help consumers better understand how to manage their credit cards, effectively communicate with their credit card issuer, and identify and speak with an accredited credit counselor.

Help With My Credit also features a toll free phone number, 1-866-941-1030, that directs consumers to additional sources of payment assistance, such as specialized customer service representatives within individual credit card issuers, or accredited counseling agencies.

HOW DOES THE TOLL FREE NUMBER WORK?

The toll free number (1-866-942-1030) is based in the United States and answered by live operators Monday through Friday 8:00 a.m. to midnight (ET) and Saturday 8:00 a.m. to 5:00 p.m. (ET). The operators at the toll free number will not serve in a counseling role or collect any personal financial information from callers, but rather will inform consumers about the resources available to them including the member companies, accredited credit counselors, the Help With My Credit Web site, and a consumer brochure.

Callers experiencing problems with making payments related to a credit card account from one of the participating card issuers will be transferred directly to that issuer. If these callers prefer not to work with their institution directly, Help With My Credit operators will be able to connect them to an accredited credit counseling agency.

Callers to the toll free number who have problems with multiple credit cards will be encouraged to speak with their credit card issuers or, alternatively, to speak with an accredited credit counselor. If callers have problems with multiple types of debt beyond credit cards, they will be encouraged to speak with a credit counseling agency. If the caller is interested in credit counseling, the Help With My Credit operator will either transfer them to one of three national credit counseling agencies or encourage them to visit HelpWithMyCredit.org for information about credit counseling and contact information for accredited counseling agencies in their area.

WHERE WILL THEY DIRECT CONSUMERS WHO HAVE CREDIT PROBLEMS BUT DO NOT HAVE A CARD ISSUED BY ONE OF THE PARTICIPATING CARD ISSUERS?

Consumers who call the toll free phone number and are struggling to make payments on a card issued by a non-participating issuer will be offered similar choices. The main difference is that customers of participating credit card issuers will be provided a transfer to the participating card issuer or a transfer to one of three participating accredited credit counselors.

Non-participating issuers' customers will be instructed on how to look on the back of their card for the appropriate phone number. If they choose to speak with a credit counselor, consumers will be directed to HelpWithMyCredit.org where individuals will find two different publicly available Web sites: the National Foundation for Credit Counseling (NFCC) and the Association of Independent Consumer Credit Counseling Agencies (AICCCA), both of which offer listings of accredited credit counselors on their respective Web sites.

WHY ARE THEY DIRECTING CONSUMERS TO CREDIT COUNSELORS?

many consumers are struggling with multiple issues, such as a home mortgage, multiple credit cards or loans. In these cases, we recommend that they speak with an accredited credit counselor who can help them take stock of their entire financial situation and help them map out a plan to achieve overall financial stability. All of the credit counselors referred to consumers by Help With My Credit Program are accredited by either the National Foundation for Credit Counseling (NFCC) or the Association of Independent Consumer Credit Counseling Agencies (AICCCA).

WHAT WILL VISITORS FIND ONLINE?

The Help With My Credit Web site, HelpWithMyCredit.org, is designed to offer consumers a wide range of helpful information in one place that can help them understand how to take the next step to deal with their specific credit issues. It also includes information about how to manage credit cards wisely, effectively communicate with credit card issuers, and if needed, determine how to identify and speak with an accredited credit counselor.

WILL ONLY PEOPLE WITH CREDIT CARD PROBLEMS BE HELPED BY THIS RESOURCE? WHAT IF PEOPLES' FINANCIAL PROBLEMS INCLUDE OTHER ISSUES BEYOND CREDIT CARDS? WILL THEY BE HELPED?

Help With My Credit is designed specifically for people who are struggling with credit card payments. Consumers experiencing broader financial issues may wish to speak with a financial issues may wish to speak with a financial planner or an accredited credit counselor.

Hope that answers some of the questions we've been getting. If there are any more questions let's hear them we'll get them answered.

Financial Motivational Quote February 20, 2009

"If there is any one axiom that I have tried to live up to in trying to become successful in business, it is the fact that I have tried to surround myself with associates that know more about business than I do. This policy has always been very successful and is still working for me."- Monte L. Bean

President Obama Announces Homeowner Affordability And Stability Plan

President Obama announced a new $75 billion Home Owner Affordability and Stability Plan intended to help responsible homeowners who are experiencing financial hardship and may be at risk of losing their homes to foreclosure. Specific Details are not yet available for this program. Details are scheduled to be announced sometime in March.

For now this is what we do know.

WHAT DOES THE PLAN DO?

Through a variety of measures, the plan seeks to help as many as 9 million Americans avoid foreclosure by restructuring or refinancing their mortgages.

WHOM WILL THE PLAN AFFECT?

The program is intended to help responsible homeowners who are experiencing financial hardship and may be at risk of losing their homes to foreclosure.

WILL THE PROGRAM APPLY TO ALL BORROWERS?

Participation in the program is voluntary for both loan servicers and borrowers. Once additional terms of the government program are confirmed, lenders will be in position to analyze the loans they service to determine if the borrowers qualify for the program.

WHERE CAN CONSUMERS FIND OUT MORE ABOUT THE PLAN?

Consumers can contact their mortgage servicer or receive more information online at the United State-Department of the Treasury home page at ustreas.gov

Bank of America Joins in With "Help With My Credit"

Bank of America, as part of a consortium of leading credit card issuers and payment networks, is working to make sure customers facing financial difficulty know how to fund the help they need. "Help With My Credit" is a new resource that offers information and a toll free number to help consumers manage their credit cards.

On February 18, consumers began to see "Help With My Credit" advertisements on television, in national newspapers, on the Internet and in magazines like Newsweek, People and Time. Ads and a new HelpWithMyCredit.org Web site direct customers to call a toll free number to discuss options. Consumers who have not spoken with their credit card issuer will be encouraged to do so, if they have or are dealing with multiple creditors, they will be directed to speak with an accredited and independent credit counselor.

Information provided will help consumers better understand how to manage their credit cards, effectively communicate with their credit card issuers, help resolve outstanding balances and, if needed, determine how to identify and speak with an accredited and independent credit counselor.

"We know that there are many customers out there who are struggling to make their payments. "Help With My Credit" gives us an additional way to reach those customers who might not know that we are here to help," said Tom Horne, Customer Assistance and Recovery executive in Global Card Services. "We have thousands of Customer Assistance teammates who, last year alone, modified nearly $850,000 credit card account terms to create win-win solutions for both customers and shareholders."

Along with "Help With My Credit", Bank of America also is intensifying focus on its customer outreach programs and contacting customers directly to let them know that teammates are here to help. One way, which will be seen in national print publications, is a new series of ads emphasizing the critical leadership role the company plays in serving customers around the world, supporting local communities and generating solid results for shareholders.

Financial Motivational Quote February 19, 2009

"The worst bankrupt in the world is the man who has lost his enthusiasm. Let a man lose everything else in the world but his enthusiasm and he will come through again to success." H.W. Arnold

Bank of America Makes $402 Million TARP Dividend Payment

I am not sure if people know this, but the TARP money is repayable.

Bank of America made its first dividend payment to the U.S. government under the Troubled Asset Relief Program on February 17.

The payment totalling $402 million, reflects Bank of America's ongoing commitment to paying back U.S. taxpayers. This payment represents the dividend on the Fixed-Rate Cumulative Perpetual Preferred Stock issued in connection with the $45 billion in government investments that Bank of America received in late 2008 and early 2009.

"It is our intention to pay back these loans as soon as possible," said Bank of America Chairman and Chief Executive Officer Ken Lewis. "In the meantime, we are using these funds to support the U.S. economy by extending credit to individuals ans businesses."

Approximately $223 million of the dividend payment relates to the federal government;s $15 billion investment in Bank of America made under the Capital Purchase Program of the Troubled Asset Relief legislation and an additional $50 million relates to the federal government's $10 billion investment in Bank of America as part of the agreements to acquire Merrill Lynch & Co., Inc. The remaining $129 million stems from the government's $20 billion investment on January 16 to help facilitate the acquisition of Merrill Lynch. Total cash dividend payments to the government in 2009 will reach approximately $2.8 billion.

As previously reported, Bank of America extended more than $115 billion in new credit during the fourth quarter of 2008, of which about $49 billion was in commercial non-real estate; $45 billion was in mortgages, nearly $8 billion was in domestic card and unsecured consumer loans; nearly $7 billion was in commercial real estate; more than $5 billion was in home equity products, and approximately $2 billion was in consumer Dealer Financial Services.

I was so impressed hearing Bank of America was repaying their TARP funds. It reminded me of Russell Crowe in "Cinderella Man" repaying the money he had received when he was on welfare. Consumers should learn a lesson from this and realize that all debt-anything borrowed- is a loan and is meant to be repaid. No matter who you are. Pay your loans people.

Leading Credit Card Issuers Introduce "Help With My Credit"

A press release today revealed a new resource for struggling consumers with information, assistance, and options.

A group of leading credit card issuers and payments networks today introduced Help With My Credit, a resource to assist and educate consumers struggling to make their credit card payments.

Help With My Credit invites consumers to call a toll free telephone number (1-866-941-1030) where operators will provide them with information about speaking with customer service representatives within participating credit card issuers or to accredited credit counseling agencies, depending on the individuals situation and needs.

Consumers can also visit a new Web site, HelpWithMyCredit.org, which provides consumers information on how to manage credit cards and better communicate with their credit card companies, and how to identify and speak with an accredited credit counselor.

In recognition that consumers may be unaware of resources available to assist them in managing their credit, card issuers Bank of America, Capital One, Citi, and Discover Card; and payments networks MasterCard and Visa have come to together to create Help With My Credit.

"Each card issuer has long established individual programs to help people manage their credit, but given the difficult economic environment, we have come together to get the word out that there are resources available for consumers struggling with their credit card payments," said Joe Ganley, spokesperson for Help With My Credit.

"We understand that people may fall behind in their credit card payments for a variety of reasons. If customers have missed a card payment, or if they're worried about a change in their financial situation, we want them to know there are actions they can take to get back on track."

Help with My Credit will be supported by a national advertising campaign that will run on television, in national newspapers, online and in national magazines to make consumers aware of these resources and to encourage them to take advantage of the assistance available to them through issuers and counseling agencies.

The operators at the toll free number will not provide credit counseling or collect any personally unidentifiable financial information from callers, but rather will inform consumers about resources available from the participating issuing banks, accredited credit counselors, and HelpWithMyCredit.org. For callers who do not have access to the Internet, a consumer brochure with useful tips and information will be provided on request.

Consumers experiencing problems with making payments related to a credit account from on of the participating credit card issuers will be offered the opportunity to be transferred directly to that issuer. If these callers prefer not to work with their issuer directly. Help With My Credit operators will be able to connect them to an accredited credit counseling agency.

Callers to the toll free number who have problems with multiple credit cards will be encouraged to speak with their credit card issuers or alternatively, to speak with an accredited credit counselor. If consumers have problems with multiple types of debt beyond credit cards, they will be encouraged to speak with a credit counseling agency. If the consumer is interested in credit counseling, the Help With My Credit operator will either transfer them to one of three national credit counseling agencies or encourage them to visit HelpWithMyCredit.org for information about credit counseling and contact information for accredited counseling agencies in their area.

Three national credit counseling agencies--Take Charge America, Money Management International, and Novadebt--have agreed to participate in the Help With My Credit. These counseling agencies were chosen because they are non-profit organizations; accredited by the National Foundation for Credit Counseling and/or the Association of Independent Consumer Credit Counseling Agencies, licensed and operating in all 50 states; and able to handle a large volume of calls and provide the necessary services to consumers.

Although, the consensus has been that banks aren't lending, which remains to be seen, at least they are doing something to help credit card holders caught in the middle of this economic turmoil.

Financial Motivatinal Quote February 18, 2008

"One important key to success is self-confidence. An important key to self-confidence is preparation."- Arthur Ashe

Good News For Sirius

Liberty is giving Sirius a $530 million lending hand and gaining a 40% stake in the company. It looks like there may one day be hope for my favorite in car product right now. I like to hear hopeful articles like these.

But these kind of articles piss me off. There may be truth in what the article says, but can't anyone delivery some good news for a change without someone showing up with the negative. Do our pain bodies really want to constantly hear bad news.?

Let's hear some good news for a change, please. It's the only way we are going to get out of this mess.

Reward Cards May Help You Save.

CNNMoney.com posted an article today "New reward cards make it easier to Save."

There are a lot of rewards cards from Discover's 1 % unlimited cah back to American Expresses Delta Skymiles credit card.

As we reported before Americans are saving more. Even in these tough times, savings requires a fair amount of self discipline. With all the means of saving out there such as 401k paycheck deductions, socking away money can still be excruciatingly difficult.

Here's a look at some the new reward cards out there:

Wells Fargo Home Rebate Card- Allows users to earn 1% back on purchases and there is no cap on the amount you earn. But the rebate doesn't result in cash in your wallet; instead, it's paid in$25 increments toward the loan principal on most Wells Fargo Mortgages.

Fidelity Retirement Rewards or the 529 College Rewards American Express Cards: You earn 2% cash back on purchases with no cap, but the money must be deposited into a Fidelity IRA or 529.

Schwab Bank Invest First Visa Credit Card-Offers 2% cash back on purchases. This one has no cap either, but you get your cash back at the end of the month, no matter how much you've spent. With one catch. The money is deposited into a Schwab One Brokerage account. The good new, as you know we like good news around here, is this investment account is completely free as long as it's linked to your card, so there are no monthly service charges or minimum balance requirements.

Of course these cards are NOT a license to spend money just to save. The interest rates, which are from 10 to 22% can be steep. So, if you're not paying your balance off every month, forget it. But if you charge only what you can payoff every month and don't carry a balance then 2% back is a nice little bonus.

Entering Your PIN Backwards May Save Your Life

I received this in a email from a friend, but from what I found it's more of an urban legend.

The recent tragedy of a young woman who was kidnapped and eventually killed.

After she had repeatedly given the kidnapper a wrong PIN to her ATM card. If she knew the method below she could have been saved. So I think it is important enough to let you know.

If you should ever be forced by a robber to withdraw money from an ATM machine, you can notify the police by entering your PIN in reverse.

For example if your PIN is 1234 the you would put in 4321.

The ATM recognizes that your PIN is backwards from the ATM card you placed in the machine. The machine will still give you the money you requested, but unknown to the robber, the police will be immediately dispatched to help you.

This information was recently broadcasted on FOX News and it states that it is seldom used because people don't know it exist.

Interesting concept, but all the years I worked at the bank this was never an option and I doubt it will ever be one.

Financial Motivational Quote February 17, 2009

"Yielding is sometimes the best way of succeeding."- Anonymous

Need work? Try A Part Time Job

Gerri Willis from CNNMoney.com reports how even part time jobs can help in these economic times. Sara Sutton Fell, CEO of flexjobs.com comments on the trend and FetchPetCare.com also announces it's hiring. Watch the report here...

Foreclosures Are Up...Divorces Are Down

The American Academy of Matrimonial Lawyers says its seeing divorce rates fall. Hard time can often strain marriages, but the housing downturn may be curbing divorces.

According to a November report, 37% of members said they are seeing a decrease in divorce cases.Members say the usually see a drop in the number of divorce cases during economic downturns, while only 19% saw an increase during challenging times.

Part of the reason is couples used to be able to divorce fairly easily and sell their homes. But with home sales down, couples have to stay in their homes and stay together, however reluctantly, until the housing market turns around.


With it taking months and months to sell a home the housing market is drawing some families closer together, but there challenges like like: lifestyle and generational differences, depression, money squabbles and other issues when relatives huddle together for economic relief, says career coach Nicholas Aretakis, author of "No More Ramen: The 20 somethings Real World Survival Guide".

"You lose that sense of independence, privacy and self-esteem,"Aretakis says. "You lose somewhat of your identity."

Financial Motivational Quote February 16, 2009

"Whatever task you undertake, do it with all your heart and soul. Always be courteous, never be discouraged. Beware of him who promises something for nothing. Do not blame anybody for your mistakes and failures. Do not look for approval except the consciousness of doing your best."- Bernard Mannes Baruch

Pick Your Path To Financial Freedom

Here's an interesting article for Marian Snow, best selling author of "Stop Sitting on Your Assets." She is also a sought after speaker and trainer. Her upcoming book "Stop Sitting on your Assets: Finding Your End of the Money Rainbow" is scheduled for release soon.


A treasure awaits you. Not just any treasure...it's your fortune. Your peace of mind. Your world of options. Your personal power. Yes, you have a pot of gold holding these wonderful things at your end of the Money Rainbow. It's there. Waiting patiently...But, here's the big question. Which end of the Money Rainbow is yours?

It's difficult to face this reality, but the number of years you have to earn money and accumulate wealth are limited. You set out in your early working life filled with dreams and expectations. You feel you have all the time in the world. Before you you know it, you look around to find you've been doing this "work" thing for years and years. But what do you have to show for it? You sit before another birthday candle and realize that everything is just moving much too fast!

Where did those plans go? Why aren't you farther along in your in your wealth building? Is there something you missed along the way?

Inside your head, there may may be raging battle. You've seen the case for maximum leverage and what it can do for your personal wealth building and for true financial peace in your future. Yet, you just can't seem to envision yourself taking those steps that you know would maximize your wealth through these methods.


EMOTIONAL ASSETS vs. FINANCIAL ASSETS

What can you do when your emotional assets are more important to you than your financial assets? When your feelings or perceived peace are more demanding, more overpowering, than your desires for the quickest route in financial security? When the little voices inside your head say, "No, you must pay off your mortgage. Building wealth is just not as important as the peace of mind that debt freedom will bring."

Are there any other options for you when you feel this way? You understand the huge differences to your life's wealth that are possible when you maximize your equity and do as Forbes recommended when it said, "leverage up and invest."

Perhaps you find yourself in one of these situations:

-You have ample equity in your current home, but you just can't seem to bring yourself to take the steps to implement maximum leverage, even though you know what it can do for your future.

-You find yourself carrying consumer or credit card debt.

-You've got more outgo each month than income and can't see a way out.

-You've already tapped the equity in your home to consolidate past consumer debt or to improve your property.

-You've just purchased your first home and you don't yet have enough equity to leverage.

These situations could be standing in the way of your ability to fully utilize home equity management or the H.E.R.O. Solution, which stand for the home equity riches optimizer solution That is detailed in Marian Snow's book, "Stop Sitting on Your Assets."

Is there still something you can do to move toward building your wealth? A solution that might still come to your rescue?

HOORAH FOR CENTURY FINANCIAL INNOVATION

There may be more than correct choice to speed you down the road to financial freedom . Many homeowners are more concerned with paying of their mortgage than with the money they may lose through lost opportunity costs.

Even possessing tens of thousands and even hundreds of thousands of valuable dollars sitting lazily inside their homes, some folks are just more interested in embracing the emotional asset of debt freedom than in locking in the additional future security they could enjoy by leveraging their inactive dollars to build their wealth.

If you feel you can't sleep at night unless you are paying down your mortgage, then you may cherish your emotional assets more than the financial assets. For you, perceived piece of mind may be more than important than the dollars you aren't earning. Logic aside, you just feel more secure continuing to follow the advice you received from your parent, grandparents or last century's mentors.

TWO ENDS


SO, this brings us to the model of your Money Rainbow. For every homeowner, there is a pot of gold patiently waiting for your end of the Money Rainbow. Yes, it's there just like in traditional Irish lore. And it's earmarked just for you. So, what is the single question you must ask yourself? Which end holds your pot of gold?

If your is on the wider end, you acknowledge that your personal financial assets are the key to your future peace, your future options, and your future power. You ma find yo align best with those on the total leverage freedom end and you:

-You understand how maximum leverage actually works

-Recognize the huge potential of maximum leverage.

-Feel deep inside that leverage provides power

-Really wish to take action, stop sitting on your assets and maximize your true wealth building potential.

You join all those who wish to apply intelligent, active management of your real estate equity. On the other hand, you may find you simply do not feel comfortable with this approach to maximize financial assets and intelligently building wealth.

If the latter describes you position, even though you know you're forfeiting the power of compounding on your valuable assets over years and years you may discover your gold lies at the Zero Debt Freedom end., because you:

-Embrace or more highly value your emotional assets.

-Desire to payoff your mortgage, even though you know you're forfeiting a valuable wealth building tool.

-Wish to achieve debt freedom before building wealth.

So, by holding on to these feelings you decide to postpone the growth of your life's wealth and retirement nest egg until latter your liability issues have been eliminated.

no matter which end you choose, one thing is for certain, you must move to either end of you Money Rainbow as soon as you possibly can. For any hesitation...any position in the middle...any wasting of valuable present day dollars...any lack of commitment to laser focus toward reaching either end is s definite mistake that will lead to financial insecurity and heartbreak.

Remember the wisdom in these ancient words of advice "Those who chase to rabbits have no dinner." You must pick one! If you don't focus on one end and set your financial GPS to reach your selected destination, you'll end up wandering throughout your life never reaching either end. You'll look around one to discover you've joined the masses destined to be dependant on others in year golden years...never to enjoy your personal peace.

THE BIG PAYOFF

On one side awaits the largest reward, the huge pot of gold, that represents your Total Leverage Freedom point. Maximized equity management and utilization will reward you with the greatest wealth at the end of your quest. You'll reach "balance sheet" financial freedom years sooner and create massive wealth accumulation in your S.A.F.E.T.Y Fund that can reside in any number of diversified assets of your choosing and desires.

On any day, you'll have the ability to simply pay off your mortgage with the stroke of a pen, but you know its best to resist that step. The resources you've built will grant you peace, options and power- for a rich and rewarding life to age 100 and beyond.

On the other end is your alternate choice, representing accelerated debt freedom. If you feel you can't find comfort in ultimate leverage by utilizing home equity management, you must quickly move toward your Zero Debt Freedom point as soon as you possibly can. You'll sacrifice years of beneficial compounding and delay reaching your mortgage freedom point, but you'll become completely debt free. Once there, you can begin building your assets to see you through your retirement years.

Yes! A mortgage can still be a powerful weapon to speed you toward your Zero Debt Freedom goal. It Can be a marvelous device to help accelerate the payoff of all your obligations. I'm not talking about merely a debt consolidation loan, but there are new 21st Century financial methods and strategies that can do much, much more to move you to liberation from all debt.

I know it sounds strange to propose that borrowing can help eliminate obligations, but the use of a special type of home equity line of credit can actually work magic allowing you to eliminate your credit card and consumer debt, plus do it much more quickly.

But wait...it can even do much more than that.

Properly structured, not only can you accelerate the elimination of all your non-preferred debt, but actually move toward paying off your first lien mortgage even faster by utilizing a special type of home equity loan. Then, let's take a step farther...

USE YOUR DEBT PAYOFF PLAN TO BUILD WEALTH

What if you could incorporate wealth generation into your debt payoff plan and take advantage of the power of compounding much sooner than you could imagine! Yes, by dding a personal wealth building component into your list of creditors to be paid monthly, you may delay reaching your Zero Debt Freedom point by a few years, but you'll take comfort in the fact that you've found your way back into the road toward a richer future by simply applying a few tweaks to your debt elimination plan.

If you haven't been a saver and you've postponed your wealth planning, now you'll have the opportunity to make some changes. You may have thought you had no options. You may have been wrong. What could this exciting and revolutionary plan accomplish! How about some of these great goals?

-Build a college funding plan
-Maximize your retirement funds
Grab that dream second home sooner
-Acquire investment real estate

A systematic, structured plan can broaden the opportunities on your horizon and offer you more possibilities than you ever dreamed.

THE REAL POT OF GOLD


Through a magical combination of interest elimination and harnessing the immediate power of the valuable dollars passing through your hands each month, you can actually build a plan that uses a very creative and special mortgage plan. This method will speed you along the path to your reward and the reaches that wait...even if your end of the Money Rainbow is on the Zero Debt Freedom end.

But, here's the bonus. You'll achieve these great goals while you continue to comfort your emotional asset needs. Yes, your pot of gold is waiting there for you, right next to its very good friend, complete debt freedom. While it's true that there's more than one correct choice available, you must decide on the direction that's right for you. Select it and go...go now...go as fast as possible toward your end of the Money Rainbow! Anything in between is not an option.

No Excuses For Going Into Foreclosure or Not Making Your Credit Card Payments. Part 5

Well, I made it through two full weeks of of basically two full time jobs. I generally work the security guard job from 11 pm to 7am. Do my Superman thing, jump in a phone booth and change my clothes, and then head off to the office.

I have been tired, getting about 3 hours sleep will do that to you, but I am fine. And to me it proves if you need to accomplish something, you can do it.

Aside from proving a point that are no excuses for not doing what it takes to save your home or your credit, I have met a lot of interesting people and learned a lot about peoples opinions of money.

Some it seems think they can do no better than work a $10 an hour security job. Some don't even show up to work. I can't believe how many no calls no shows there are. Some do it just to make extra money for their hobbies, And others are doing just what I have been discussing. Working two and sometimes three jobs to help pay their mortgage or reduce their debt.

One guard, I am not sure if he does this as his only job or he just does it make extra money, told me about his passion for roller coasters. Talking to him helped me realize that part of being wealthy is not necessarily money related, but following your passion.

The guard I met is a member of American Coaster Enthusiasts. Also known as ACE.

Ace was founded in 1978 and is non profit organization of nearly 7,000 members from all 50 states and more than a dozen countries. Ace member or commonly known as "ACEers". I guess kind of like Star Trek fans being "Trekkie's" of "Trekkers".

According to Ace their members are the most educated, dedicated, and passionate amusement park guests.

They travel from park to park to ride and critique roller coasters. They even have marathons to see who can ride the roller coaster the longest.


I love roller coasters my self and some of my favorites are Big Thunder Mountain at Disneyland and the Viper at Six Flags Magic Mountain. I had now idea there were so many roller coasters out there until the guard told me about it. Nor did I know there was an organization of passionate roller coaster riders.

I think it is great to follow your passion and encourage everyone who has a passion to go after it. Do it now?

Can Your Body Language Give Away Your Net Worth?

In our previous post "Size May Matter When It Comes To The Size Of Your..." we discussed how the size of your finger may be a precursor to wealth. But another study shows that your body language can give way your wealth status as well.

Two Psychologists from the University of California, Berkeley, Michael Kraus and Dacher Keltner videotaped pairs of undergraduate students who were strangers to one another,during on on one interviews. A total of 100 undergraduate students participated.

Usually a stylish handbag or Armani suit can signal a person's wealth, but according to the study so can their body language. People of higher socioeconomic status are more rude when conversing with others.

The researchers looked for certain gestures that indicate levels of interest in the other person during one minute conversations.

They discovered that students of parents with backgrounds of higher socioeconomic status (SES) engaged in more "impolite" behaviors, such as grooming, doodling and fidgeting. Students with Lower SES showed more "I'm Interested" gestures, including laughter and raising of the eyebrows.

The study revealed that students with higher SES fidgeted with nearby objects for an average of two seconds, but those with lower SES backgrounds almost never fidgeted during the 60 second clips. It also showed students with upper SES backgrounds groomed themselves for short stints while the lower SES students didn't. The lower SES students were more likely to nod their heads, laughed and raised their eyebrows an average of one or two seconds more than their upper SES counterparts.

Kraus explained it comes down to our animistic tendencies. Like a peacock's tail, the seemingly snooty gestures of higher SES students indicates modern society's version of "I'm fit" and "I don't need you."

Lower SES individuals can't afford to brush off others. People of lower SES backgrounds have fewer resources, and by definition should be more dependent on others.

This research can be found in the January issue of the journal Psychological Science.

This couyld bring up some interesting discussion. Is wealth a menality that is learned? Or something we are born with?

Economy So Bad Even Immigrants Can't Afford to Stay Here

Things can really seem bad when even when immigrants can't afford to stay here.

America's economic boom during the 1990's and the 2000's created a high demand of day workers needed for anything from building homes to picking fruit and from working at slaughterhouses to working as nannies. Many of those jobs have since evaporated, resulting in more and more people, immigrants and native born Americans, flooding day labor job sites and standing on street corners in search of any type of work they can get.

Across the United States, tens of thousands of immigrants, those here legally and illegally, are facing a similar dilemma: Do they continue to search for jobs in a struggling U.S. economy or return to an even bleaker economic situation.

Some immigrants are saying they can't make it here and feel if they are going to suffer it's better to suffer back in their country with their family.

How do you think immigrants leaving the country will effect our economy? Let's hear from you.

Banks Give Foreclosures a Vacation

As the government works out a rescue plan for homeowners banks give foreclosures a weeks vacation.

Friday both JPMorgan Chase and Citigroup Inc, the first banks to do so, announced they will be temporarily halting foreclosures as the government works to finalize the details of a financial rescue package that could include billions of dollars to aid struggling homeowners.

Lawmakers have begun to put pressure on financial institutions to suspend foreclosures until the plan comes out.


Citigroup said it would make its moratorium on foreclosures effective February 12th and will stay that way until March 12th, or until President Obama's Administration finalizes the details of its loan modification program.

The moratorium only applies to a borrowers principal residence and loans that Citigroup services and understanding has been reached with investors.

JPMorgan has agreed to issue the foreclosure moratorium through March 6.

On Tuesday Treasury Secretary Tim Geithner outlined the Administrations priorities for the use of the second half of the $700 billion allocated for the Troubled Asset Relief Program, which would include spending $50 billion on foreclosure relief.

The details of the plan however have yet to be worked out.

Both companies have suffered major losses as delinquencies rise amid the turmoil of the housing market.

This sounds like a good thing and hope other banks will follow Citigroup and JPMorgans lead. People need a breather to get away from the stress foreclosure. A vacation does a foreclosure good.