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December 30, 2006
Managing Credit Card Debt in 2007
Have you made any strives forward in getting a grip on your credit card debt for 2007?
Where I live 2007 is now 24 hours and 6 minutes away!
Here is what I did tonight:
1. Logged in to my online banking account
2. Noticed that I had $299.56 on my credit card
3. Clicked a few buttons and entered the amount $299.56
4. Clicked the Transfer Funds button
5. Saved myself in interest charges by following the above 4 simple steps
Now, you are a little frustrated because you can't just clickity click your way out of debt.
Nope, you can just click your way out of debt. So if you find yourself in a position where you can't just go pay your full balance what are you to do?
It is this simple:
Don't use your credit card so frequently!
If you don't have the cash, don't buy on the credit card.
For 2007, I am dead set on saving a fortune in interest charges and socking away over $1 Million.
Here is my plan of attack:
1. I cut up my bank debit card
If I have to take the time to go to the bank to get cash, I will spend less. The convenience of ATM machines and point of sale debit systems make it far too easy for you to spend.
So, get rid of your debit card
2. When I use my credit card, I pay the balance within 72 hours
Use online banking to make sure you pay your balance within a few days. If you find that your credit card use is draining your bank account, then maybe you need to cut up your credit card as well or at least until you think you can get your spending under control.
Hint: If you are spending too much it is likely there are emotional issues that you have not tended to. Take care of whatever ails you, then get another credit card.
3. Use my interest savings to pay off other debt
I have a line of credit from quite some time ago that I slightly abused. The interest charges are huge!
Now, I am taking the money I am saving in interest on my credit card and applying that directly to the line of credit.
4. Invest in stocks, bonds and mutual funds
Within a few months my line of credit will be paid off because of the extra money that I am saving on interest charges from that darned credit card.
As soon as the credit line is paid, all the savings will be applied to investments which will grow my money at a rapid rate if I watch my investments closely
I am at a bit of an advantage because I operate my own marketing business so I have the ability to earn more without having to ask a boss for a raise.
Follow my advice in the above 4 steps and you will be a lot closer to being financially free by the end of 2007. Maybe consider starting your own marketing business.
Not sure how to start your own business?
I can help!
I will be launching training for those who want to earn a little extra cash in early 2007. I will provide you with the exact steps necessary to launch your own home based business.
To find out more please leave a comment here or visit my site veoreport.com for more information.
Wishing you the best for 2007!
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December 27, 2006
Discover Gas Card - Reaping Rewards Continued
I had just posted an article about how to truly reap the rewards from your credit card points program here.
Immediately after posting that article, I took a look at the offers from Discover Card. I have to tell you that there are some fabulous rewards offered by Discover.
I feel that the Discover Gas Card rewards program will hugely benefit anybody who drives to work and carries a balance on their credit card.
First of all the interest free balance transfer period of 12 months is a great way for you to start chipping away at your credit card debt this year (Hint: pay your bills on time, every month to maintain the 0% APR benefit).
Secondly, the 5% cash back on gas purchases will save you even more.
Here is how, with some discipline, that you can dig yourself out of credit card debt this year:
1. Transfer your balance to a card such as the Discover Gas Card
2. Find ways to ensure you can pay slightly more than your minimum payment
3. Apply the 5% cash back directly to the balance of your credit card.
4. Watch your credit card debt begin to vanish
At first it might not seem like you are making much headway but if you continue to pay more than the minimum balance on your card and apply the rewards to paying down the principal, by the end of 2007 you will have made a very significant step towards eliminating your credit card debt.
No, it isn't exciting doing this.
Yes, it does mean learning to cut out unneccesary expenses. Maybe one bagged lunch per week will help you pay down more of your balance owing.
If this doesn't sound exciting to you, ponder this:
Does struggling to make ends meet because of a high balance owing on your credit card excite you?
No! It really sucks to be struggling with credit card debt.
Now, go transfer your balance to a card such as Discover Gas. Then visit Crediteria frequently for the latest advice to help dig you out of debt.
Hey, think of Crediteria.com as your free debt reduction service.
Some companies charge you a fortune for the advice you get here for free!
Posted by Colin at 12:04 AM | Permalink | Comments (0) | TrackBacks (0)December 26, 2006
The Right Way to Reap Credit Card Rewards
There is a right and wrong way to do everything in life, including the use of a rewards credit card.
Here is a story about the right way to use a credit card to actually benefit from the rewards:
This story begins with waking on the day after Christmas, swearing that I would never go near a mall to face the post-Christmas sales and crowds that go along with it.
Somehow, my wife talked me into heading over to the mall to pick up some items she absolutely had to have today.
Why today! Out of all the things I never wanted to do was head off to face the bargain hunters!
OK, I went; I picked up the items she needed.
Since I managed to find parking for my vehicle I thought: What the heck, why not drop off the stuff I picked up for my wife in the truck and head back in to see if I could find a bargain myself.
After all I did manage to find parking (and parking was at a premium), I really didn’t want to give up my spot after having to hunt for 30 minutes.
So it was back into the mall and I did find a bargain on a tripod that I had been considering purchasing for quite some time. The tripod was on sale for $50, normally the price was $250. I snatched up the last one on the shelf and paid for it on my travel rewards credit card.
Happy as can be for getting such a great deal on my tripod and earning a few points towards my next trip with my credit card purchase I ventured home again.
Here is where I actually benefit from the travel rewards points:
After showing my wife my new tripod and putting away all the other stuff I bought, it was off to the computer to login to my online account and pay off the purchase immediately.
Now, the merchandise has been paid for, my credit card balance is once again at 0 and I earned points towards free travel.
Paying your rewards credit card off prior to incurring interest is the way to truly earn a benefit. If you don’t pay off your balance, the rewards could be quickly offset by the interest charges.
Start doing this yourself and you will do 2 incredibly great things for yourself:
1. You will be conscience of all credit card spending and will avoid acquiring more credit card debt than you can handle.
2. You will get free stuff from the rewards offered on your credit card account
Perform the one simple step of paying your credit card balance immediately and you are well on your way to living a more prosperous life!
December 25, 2006
Saved my Credit Card
Rolling the clock back to late November when my wife asked what I wanted for Christmas and my response was:
"Peace, love and world harmony"
Other than that I have everything I need.
Most of all I wanted to prevent the burden of heavy credit card debt in the new year.
Good news, my wife complied with my request of "nothing for Christmas".
Best of all I paid off my credit card in full a few weeks ago and I will be starting my new year off with a 0 balance owing.
Oh what a feeling - Starting the new year off without owing a dime on a credit card. Even better all my department store cards are paid in full and to resist any spending temptation on post-Christmas sales, the department store charge card accounts have not only been paid off I have canceled the accounts.
If you haven't listened to my advice about credit card debt then stay tuned throughout 2007 as I will be working on a plan for you to follow to get out of debt before the end of '07.
Have a very Merry Christmas Day!
Posted by Colin at 01:05 PM | Permalink | Comments (0) | TrackBacks (0)December 24, 2006
Credit Card Song - Tis the Day Before Christmas
Tis the day before Christmas
And all through my wallet
Not bill is stirring
Not even a credit card
All through the malls
The shoppers are spending
Not me, this year
My wallet is thanking
Come the New Year
With bills oh so low
I will rejoice in knowing
There's few post holiday woes
So stop all your shopping
Just for a day
Rejoice in the people
And the time you spend
Tis not about dollars
But about joy
Give the credit cards a break
And take pride in saving your money
And finding joy with your honey
Hey, not bad for off the top of my head - Ok, gets a little weak near the end but I will be back to polish it off after some Christmas cheer.
Merry Christmas from the folks at Crediteria.com!
Posted by Colin at 01:47 PM | Permalink | Comments (0) | TrackBacks (0)December 23, 2006
The Spending Season Winding Down
The season of frantic shopping is almost over! It's time now to enjoy the people who are important to you and stop fretting over whether or not you found the perfect gift.
If you didn't find what you think is the perfect gift, try simply giving the gift of time.
With Christmas only a day away you will likely receive a last minute onslaught of flyers in the mail advertising super sales for the last minute shopper. It might be wise to ignore the super sales and save yourself from racking up more credit card debt and consider what I mentioned above, that sometimes the best gifts don't cost money.
Consider making a card and giving the gift of quality time to sit and catch-up on life.
Have a great Christmas!
Posted by Colin at 10:42 PM | Permalink | Comments (0) | TrackBacks (0)December 22, 2006
2007 Eliminate Debt with Credit Card Rewards
2007 is only days away now and I am set on helping you get out of debt!
Now is the time to take action and start digging out of the debt trap you are in.
How do you go about eliminating debt with a new credit card?
The answer is simple but will take some discipline on your part, here is a quick "how to get out of credit card debt" plan for you:
1. First of all check out the offers I have listed here:
Chase credit cards offering 0 APR
and here:
2. Select the additional rewards that are right for you.
Consider how much driving you do, maybe the Chase PerfectCard offering gas rewards will be of the greatest benefit to you or maybe the Bank of America WorldPoints Visa is the card for the jet setter lifestyle
3. Now that you have chosen the addtional benefits:
The real benefit comes from having interest savings.
Make note of how much you are paying in interest charges.
Transfer your existing balance to one a 0 intro APR card (see links above)
Take what you have been paying in interest and apply it to the balance owing on your high APR credit card.
If you do this, you may not eliminate all your credit card debt in 2007 but you are well on your way to digging out of the credit trap that has been set.
If you listen to this advice RIGHT NOW, I know you will be thanking me by summer time.
If you ignore my words of wisdom you will be saying "darn, I shoulda listened to that guy at Crediteria.com"
Now get out there and start reducing that darned credit card debt of yours!
December 21, 2006
Budgeting - Spousal Support Imperative
Cripes! I thought I went over the Christmas spending budget with my wife and thought we had agreed upon a set limit for this year's spending.
Seems my words hit an invisible brick wall somewhere between my mouth and her ears.
I just checked my online bank statements and over the last few days there seems to have been a "there's a super-sale, mega, uncontrolled spending spree".
I was sure I had made it clear on what was reasonable spending this holiday season but I guess, when looking back, I didn't really have her full attention.
Next "don't spend anymore money" rant with my wife, I will have to make sure it is at a time when there are no distractions. I will make sure to snap her out of whatever state she happens to be in and have her repeat back to me everything I said.
And I won't stop there, I am going to make her write down everything I said too.
Yeah, I do well with my business but lessons learned from the past:
Money is easy come, easy go.
I also know that January can be a slow time in my business and I really just want to focus on growing my business and net worth rather than constantly paying off more and bigger stuff.
Life ain't about stuff!
Posted by Colin at 01:47 PM | Permalink | Comments (0) | TrackBacks (0)December 20, 2006
Ahhhh Life is Good and Incredibly Busy
Lately I have been feeling a bit down as I have simply been unable to find any time to work on my business. I was hoping to get things finished off before the end of the year on a new business project I have been working on and plan growth for my existing business.
I had to give my head a quick shake, let's take a look and figure out why I started feeling down:
1. About 5 years ago I left my "real job" for good
2. I haven't worked a 40 work week for the last 5 years, the longest week I put in was probably in the order of 25 hours.
3. I work part-time and make over $20,000/month
4. I goof off and take care of family stuff more than I work
Hmmm, what's wrong with me. I have made it!
I guess reflecting on where my business was last spring at $45,000 and now sitting at a meager $20k seems a bit depressing to me...But wait a minute, since July I have put in a maximum 10 hour work week. I spent the entire summer traveling around British Columbia (my home province) in the travel trailer which I paid cash for.
I guess the "busyness" of traveling, taking my kids to all their activities, Christmas preparation and throwing a move into a new house into the equation has mentally exhausted me.
Had I worked a solid 20 hour work week through the summer and up till now, my business income would have been $100,000/month but I shouldn't feel down. I am living the dreams of most people and currently my business has exceeded my expectations when I first began this journey of financial freedom.
What's the point to this? I'm not sure really, it's more of a brain dump to soothe my soul and get my head straightened on right.
Now, I must get ready for my daughter's pre-school Christmas concert where she will be belting out some favorite holiday songs.
Posted by Colin at 05:15 PM | Permalink | Comments (0) | TrackBacks (0)December 18, 2006
First Credit Card Signals Progess in Third World Country
In a country known for it's corruption, scams and robberis, Ecobank Nigeria Plc is pressing on with delivering the first naira credit card.
The thought behind this card? Lessen the amount of cash transactions and hopefully robberies will drop.
Do I think this will solve the problems that run rampant in the country? No, it may slow robberies but certainly not eliminate them. I think it will limit losses as a credit card can be cancelled.
But I see the potential of this actually creating more violence in Nigeria. Think about it. No longer can thieves run off with their victims cash, they will now be running off with their credit card.
Hmmm, if that credit card can be cancelled and the thief would like to gain from the robbery what I think is going to happen is more incidents of kidnapping.
I do hope that the Naira credit card will bring an economic boost to the region, economic boost leads to job creation and those jobs eliminate poverty. Poverty is the root cause of the problems in the country.
It will be interesting to see if the Naira based credit card will have an impact on the Nigerian ecomony.
December 16, 2006
Eliminate Debt by Taking Advantage of Declining Inflation
American consumers can breathe a sigh of relief because inflation is on a downward trend. Prices on most consumer goods are falling which is directly correlated to the decline in fuel costs.
When gasoline prices drop a ripple effect is seen throughout every industry.
Groceries are cheaper, clothing costs less and I could go on to talk about every other item you purchase on a regular basis. The reason for this is everything you purchase from a store arrives via a truck. When the shipping cost is less so too are the goods you buy because transportation costs drop.
The news is met with open arms by every family in America especially during the holiday time of year.
Now what?
OK, getting back to preaching what I preach.
Eliminating your credit card debt in 2007, in a previous post I spoke about using your Christmas money to apply directly to the balance on your credit card and then continue to pay off the same amount you previously were paying to accelerate your debt reduction.
Opportunity is staring you straight in the face. Your fuel costs are down.
Somehow you have managed to make it paying higher gasoline prices. Now what you need to do is apply what you were previously paying for fueling your car and slap that down on your credit card principle.
Yeah, I know it was painful to pay high gasoline prices and you couldn’t wait for some relief from the soaring inflation rate. You did make it though.
Now continue to “feel the pain” of paying the exact same amount every month when gasoline was at all time highs.
What I am getting at here is the fact that you figured out a way to pay higher prices on everything now just continue to pay out the same amount but now that “pain” is going to relief.
If you follow this simple advice you will be out of debt faster than you ever imagined and the pain will be gone.
Think about, your boss likely isn’t going to give you a raise because gasoline costs more. You better believe that gas prices will rise again. The big difference the next time inflation soars out of control, you will be in control because you won’t have the lurking credit card debt pulling you down.
WooHoo Canadian Money on the Decline
This is great news for Canadian businesses. I know for myself this is the best news I have had in my business for quite some time!
Yes, I live and work here in Canada and watching the mighty dollar plunge compared to U.S. currency is awesome!
Why? Because I will earn more as every dollar I make is paid in United States currency.
I know what you are likely thinking, something along the lines of “you greedy SoB, taking joy in the drop in the dollar for your own personal gain”.
Yeah, that might be somewhat true. As our dollar drops, I do earn more but as I earn more it is an instant increase in my cash flow.
You say “So what”.
So what!!! My business makes more and with an instant increase in earnings I can now hire more people without having to work harder to grow my business to pay another employee.
That’s right, the dollar drops, I earn more and I employee another Canadian.
Just like that somebody looking for a job can now provide for his/her family all because of a weaker Canadian dollar.
I have more info about the declining Canadian dollar here
December 15, 2006
What To Do With Christmas Cash
You will likely open a Christmas card this year and find a cheque or cash inside.
I know my parents, even though I am 37 years old and doing very well, still stuff a little cash in my Christmas card every year to go buy myself something nice.
When you get that cash rather than rush off to buy a frivilous gadget, why not use it to get the new year off to a better start.
Use the cash for freedom! Huh? What am I talking about?
Take every dollar you receive in Christmas gifts this year and apply it immediately to your credit card debt.
Here is what I suggest you do:
1. Write down how much you are currently paying on your credit card, most people make only the minimum payment required.
2. When you go to cash your cheques, don't cash them. Use the money to pay off some of the principle owing on your charge card.
3. Every month continue to pay at least the same amount that you were paying prior to making the extra "Christmas bonus" payment. In fact try to find just a few extra dollars to pay on your balance.
If you adopt this habit every time "free money" shows up in your wallet you will accelerate the pace of paying off your credit card debt.
No, it isn't immediate gratification but it will be incredibly rewarding as you dig your way out of debt.
Make 2007 the year you become credit card debt free!
Posted by Colin at 08:45 PM | Permalink | Comments (0) | TrackBacks (0)Confidence - The Secret to Financial Success
When you possess an unbeatable confidence, you know the kind where you feel you can take anything life has to throw at you. You have seen these people I am sure.
There is an unmistakable aura about those that seem to be successful in everything they do.
Does it mean that highly confident people never fail? No! Those with confidence fail a lot but the difference is how they perceive the failure.
Those who have extreme confidence know that failure will come but they take those failures as learning opportunities and have 110 percent belief that they will conquer the failure and come out stronger than ever.
Think about what it is you want and why you don’t have it. Whether it’s getting control of your credit card debt, finding a better job or maybe launching your own business consider what it is in your mind that’s stopping you.
After you spend some time considering what is stopping you from achieving your dreams it will likely be a low level of self-confidence. Maybe you hear others saying “you can’t do that because…”, those “you can’t” statements from others enter your mind and when you hear the “you can’t” statements repeatedly you allow yourself to believe that and take it as truth.
The successful people in life take those negative statements and ignore them.
Next time you hear somebody trying to belittle your aspirations consider ignoring them. Perhaps it’s a co-worker or a friend. If that’s the case you should consider limiting your contact with that person until you have more confidence in yourself. I am not saying eliminate them from your life, what I am suggesting is that you work on your own confidence, start working towards your goals and gain a sense of accomplishment and then show the naysayer the success you have been having. Then guide them out of their pit of negativity.
Go on now, get out there and just do it!
December 14, 2006
Credit Card Spending Has It's Place
As 2007 is fast approaching I have been reviewing and developing my business plans for the upcoming year.
My business relies heavily on the use of my credit card as I operate predominately online and the most common form of payment is a credit card.
This is good use of a credit card because I invest in certain aspects of my business which produce a return on investment for me.
Now, as far as frivilous spending goes, credit cards can be disastrous!
I challenge you to have your credit card provide a return on investment this year - Yeah, Mike this one's for you :)
One last thought; What I love about my credit card is the free trips that result from the points I earn.
I spend "real money" on business trips as they are a write-off and I use the points earned to take family vacation at no cost! Well, other than food and entertainment, the travel and hotel is free.
I have a review of the credit card I use here, if you are interested
Posted by Colin at 03:55 PM | Permalink | Comments (0) | TrackBacks (0)December 13, 2006
Reviews of Canadian Credit Cards Finally Arrives
As a Canadian that is doing business in the US for the most part I felt that Canadian consumers have been underserved when it comes to real reviews of card credit cards and other financial products.
Today, I am putting an end to that! Canadians will get reviews on card offers available in the Great White North. Take off, eh?
Now for all us hoseheads (Yeah, I happen to have a copy of Bob & Doug McKenzie on CD and it's still funny after all these years!)
I have posted my review of one of the cards I carry.
Please send me your reviews either via posting a reply to this entry or sending my an email at info@crediteria.com
Please include: credit card name followed by review in the subject of the email so that I can easily identify it.
Your name will NOT be used in the review. Let's make Canada a better place by exposing the bad credit cards and highlighting the good ones!
Be sure to visit and bookmark the Canadian credit card reviews - Visit often and let me know your thoughts.
Posted by Colin at 10:47 PM | Permalink | Comments (0) | TrackBacks (0)December 11, 2006
Proverty Elimination to End Terrorism
I just read a story on the Associated Press wire about Economist Muhammad Yunus being award the Nobel Peace Prize in his efforts to end terrorism by ending proverty.
Think about that for a moment and remember the saying; "Money is the root of all evil".
Money is not necessarily the cause of evil but if those suffering from proverty are enticed to do evil and in return receive money or food for that matter don't you think that eliminating poverty might cease many would-be terrorists.
Those in destitute situations will do desparate things in order to survive. Perhaps simply putting food on the tables of those in need could end a lot of evil that happens in the world.
Muhammed Yunus is out to change the world by providing small unsecured loans to impoverished people to start businesses.
When the poor and destitute and start a business, they are able to provide jobs to other poor people in their region and a viral effect of poverty elimination is created.
Part of my business is coaching others to success.
Muhammed, if you manage to find this blog entry, please contact me as I would love to help in even a small way in furthering your cause of world peace.
It can be done and I can help!
Posted by Colin at 02:34 AM | Permalink | Comments (1) | TrackBacks (0)Christmas Credit Card Bills Are Visiting My House
Alright, I have been preaching about not using your credit cards during this holiday shopping madness and I seem to have neglected to tell my wife to put the cards away.
I thought our holiday shopping was done yet somehow are kids need more stuff. How is this possible? Where is all this stuff going to go? Better yet, where is the money going to magically appear from in January when that darned bill shows up.
Could it be that my wife is hoping to capitalize on the Visa Win What You Buy contest they run every holiday season? I sure hope so...
Maybe next year, I will learn a lesson from this and educate my household first before sharing with you :)
Oh well...I guess my kids will at least have an extra great Christmas.
Now I better get some extra work done to pay the new year bills!
Posted by Colin at 12:38 AM | Permalink | Comments (0) | TrackBacks (0)December 09, 2006
Pursue People Not Money
Recently I received an e-mail from William asking about how to make more money. I do offer a mentorship program where I teach people how to make more money but when a person is only pursuing the goal of earning more I dig a little deeper and start to ask questions about their personal life. You see, it is FAR more important to set your personal foundation on relationships with people you care about that it is to chase some silly pieces of green paper.
Read my comments to William below:
William, don't just chase the paper, chase happiness in life first and the paper will come!
Trust me on this, I completely agree with Jim's philosophy "Life is about happiness, not money". I have seen both sides of the coin (no pun intended) and I have to admit that chasing more money created more misery for me because greed set in.
Money has a way of creating greed and greed does not lead to happiness.
As far as minimum wage being low, at least there is a minimum wage that ensures folks are not totally screwed out of earning something. Quite often minimum wage jobs are held by teens earning some spending money and learning some good work ethics in the process.
William, you make a good point but without first seeking happiness the freedom to do whatever you want is lost. Without a focus on happiness being at the forefront it doesn't matter how much a person makes. The financial freedom creates only a short term euphoria which without true happiness means nothing.
If a person isn't happy without money, they won't be happy with money. True pleasure in life usually comes from experiences with other people.
Many of my happiest memories come from spending time with those around me. Going for a walk with my 2 daughters doesn't cost a dime yet it creates a lot of joy when we venture off and enjoy the simple things life offers.
Now get out there and enjoy the people around you, they are worth more than any amount of money!
December 08, 2006
There is More to Life Than Money
I was just reading this blog post about how money is not everything at Bargaineering.com .
Jim has it right and I recommend that you read his article Money Isn’t Everything And It Isn’t You.
I can't agree more! Especially with this statement "Life is about happiness, not money."
This is said with some authority as I have seen both sides of earning, from barely making enough to make ends meet to having more money than I know what to do with.
Through it all, it didn't matter how much I made and at some points I was actually happier coming from a place of not earning enough as I didn't have expectations as far as gadgets, vehicles or having a bigger house.
Well, let me tell you, when the money started rolling in so did the desires of "bigger stuff".
What I found was earning more created greed and the greedier I became the less happy I was.
There have been a few ups and downs in my business that have humbled me and now that I am back on top I have learned the valuable life lesson that money truly DOES NOT buy happiness.
Posted by Colin at 03:53 PM | Permalink | Comments (0) | TrackBacks (0)Credit Card RFID Chips - Consumers be Warned
In a press conference yesterday, Senator Charles Schumer announced his disapproval of RFID chips in credit cards. Senator Schumer’s thoughts reflect my own.
I have not signed up for any of these credit card offers or “tied my credit card” to gas station convenience RFID payment systems for the same reason echoed my Schumer.
What Senator Schumer said about RFID chips and credit cards:
May as well put your credit card information on a big sign on your back for identity thieves.
Why are RFID chips in a credit card a problem?
First of all you need to know what RFID stands for, it is Radio Frequency Identification
And let me tell you (and let Senator Schumer tell you as well), credit cards with RFID microchips transmit a signal that contains all your credit card information.
Which simply said: “You are carrying a radio broadcast containing all your personal and credit card information in your wallet.”
Identity thieves are no longer just sifting through your garbage looking for personal information, they are becoming technically savvy.
Think about this:
Radios have been around for a very long time and the technology of receiving a radio signal is very easy to reproduce. Yes, the signals sent from the RFID chips are very weak but picture this:
You are in a crowded shopping mall and your wallet is chained to your belt for security reasons. Heck, no thief is going to be able to reach into your pocket and steal your wallet! Heck no, there’s a chain attaching your wallet to your belt. Should a would be thief attempt to pick-pocket your wallet, you will know because your wallet is securely fastened to your belt.
Enter RFID microchips:
Now, your wallet is securely fastened to you. You think there is no chance anybody can rip you off.
Ok, now remember that you are in a crowded mall, maybe it’s a subway or any other crowded public place for that matter.
The identity thief now has to have only a radio receiver, maybe disguised as an iPod or any other typical electronic device and a moment to bump into you, make his apologies for rudely invading your space and voila; Your identity and credit information has been stolen.
Think about the potential for disaster here!
My feeling is life is simply not that busy to justify shaving off 12 seconds on the processing of your credit card to pay for merchandise. Heck, if you are that busy you shouldn’t be out shopping in the first place!
Also read RFID Right to Know Act here
December 06, 2006
Continual Education Is Key to Bussiness Success
I am taking a bit of a break right now as I am educating myself on many facets of my home based business. An important element of any business is educating yourself on emerging technologies, competitor strategies and changes in the consumer marketplace.
I have spent days trying to learn something new on my own and suddenly it hit me like a ton of wet noodles (ok, weird metaphor but that's what it felt like). By spending all this time trying to figure out everything on my own, I am loosing money. Now would be a good use of my credit card.
Rather than try to learn everything on my own, I am going to invest some money into my education. Spending money on education saves time and will allow me to grow my business at lightning speed ultimately earning my business more money and earning it faster.
I am off to evaluate some training courses now.
Posted by Colin at 11:07 PM | Permalink | Comments (0) | TrackBacks (0)December 05, 2006
Remember January Credit Card Bills Will Come
My wife just got home from a holiday shopping spree. When I asked her how much she spent, I got a big smile and a lot of excuses. You know the ones:
Well, I had to buy for Sally and Jane. Then I felt bad that I didn't get Laura anything, but then Laura's gift didn't cost as much as the other gifts so I bought more.
Yikes! Put on the brakes! I thought this was the year that we were going to control our spending and somewhere along the line I think my wife forgot about our agreement that we would enjoy the holidays by spending time with the people we care about.
Hmm...so much for that...
So it seems my January credit card bills are going to higher than expected!
Now, I hope to save you from the same expenses.
It seems there was a break-down in communication in my house.
Tip: When you set holiday spending guidelines with your spouse, don't just agree on a budget and part ways.
Spend the time to write down your agreement and then before every trip to the mall, pull out the written "holiday spending agreement" and review it once again. Repeat for every trip, even if it's to the grocery store. This will help keep the emotional spending to a minimum and hopefully save you from some post-holiday credit card grief.
December 01, 2006
Saving Money on Your Move
If you are moving to a new home, here are a few things you can to do save money on your moving expenses:
1. Purge: Make some space in your garage for everything you haven't used in over a year. Then take it to the dump or better yet, have a garage sale.
2. Be Prepared: Make sure you have everything boxed up and packed to reduce the cost of the move. Most moving companies charge on an hourly basis. Do things to reduce labor time.
A. Lots of stuff in your basment?
After you have got rid of all the stuff in your garage, take as many items as possible from your basement and bring them to the garage. This will save time of expensive movers from going up and down stairs.
The same applies for second floor items. The idea is to get as much stuff as close to where the moving truck will be to save their time. Remember time is money and the movers are charging for every minute.
B. Disassemble furniture: Remove table legs, remove headboards from beds. Look for all furniture that can be taken apart and do it yourself. This will shave almost an hour off the move time in some cases.
More to come as I think of it. Yup, I just met with my movers as we are moving back to the city.