Obama Initiative Seeks Fix to Finance Regulations - AP. That was the headline from AP and the story that was widely publicized today, June 17, 2009. Here is a direct quote from the story: "The Obama plan recommends increased powers for the Federal Reserve, which is the U.S. central bank"
Read it here: http://www.thestreet.com/story/10517442/1/obama-initiative-seeks-fix-to-finance-regulations.html
As citizens of the United States, we need to be ALARMED!
You owe it to yourself to learn the truth about the Federal Reserve System. Watch a free video on the history of the Federal Reserve here: http://legacyinsuranceagency.com/banking/banking-history-federalreserve.html
You'll also find the book, "The Creature from Jekyll Island" by G Edward Griffin available on this webpage as well as a free mp3 recording. The book reveals the truth about how the Federal Reserve was created and why our Banking system is a monopolistic cartel.
As citizens of the United States, we need to be ALARMED!
Contact your Congressional Representative http://www.congress.org/congressorg/home/
Join a Tea Party
http://www.teapartyday.com/
Wednesday, June 17, 2009
Tuesday, June 16, 2009
How To Survive and Thrive in the New Era of Finance
How To Survive and Thrive
in the New Era of Finance
Credit and Your Financial Future
in the New Era of Finance
Credit and Your Financial Future
Finance and credit, as we know them today, are changing rapidly. Your financial future will be determined by how you use money in this new era of finance. Follow these guidelines to survive and thrive in the new era of finance.
Credit and lending have been slowly tightening over the past year, despite the Fed’s attempts to flood the economy with “Fiat” money. And, this new legislation wrapped in an ACT to supposedly protect the consumer will only create more stringent guidelines and qualifications for lending.
Now this isn’t completely bad news, because American’s need to quit borrowing and depending on credit cards to finance everything they buy. However the ability to access capital can be crucial, and you should be aware of the most effective and efficient ways to borrow money.
In today’s fast-paced world we are often lured into buying when we ought to be saving. Saving takes discipline, and with the ease of purchasing using a credit that makes the task that more difficult.
By learning how cash flows you can reverse the trend and recapture some of the interest you now pay to others. How you finance and pay your expenses will have an enormous effect on your lifestyle today and how you spend your retirement income tomorrow.
PROFOUND STATEMENTS:
“You finance everything you buy. You either pay interest to others or you lose interest you could be earning. Anytime you can cut out the payment of interest to others and direct that same market rate of interest to an entity that you own and control, with minimal taxation, you have improved your situation.” ~Nelson Nash
Most all items in your budget are financed either by credit cards or loans. The balance is financed by paying cash, thus, giving up interest that could be otherwise earned.
While creating a financial system to accommodate your income may sound difficult, it can be relatively simple. The primary difficulties you will encounter will be human factors.
Human Factors That Will Affect Your Ability To Create Wealth
Human Factors That Will Affect Your Ability To Create Wealth
1. Parkinson’s Law – expenses rise to equal income.
2. Willie Sutton’s Law – wherever wealth is created, someone will try to steal it.
3. The Arrival Syndrome – I already know everything, so there is no need to learn anything new.
While we may have been told that creating wealth is a factor of the rate of return, that is only part of the equation. Most often the magical rate of return that we are chasing comes with RISK. A better approach to creating wealth will focus on eliminating the eroding factors and maintaining control of the money.
2. Willie Sutton’s Law – wherever wealth is created, someone will try to steal it.
3. The Arrival Syndrome – I already know everything, so there is no need to learn anything new.
While we may have been told that creating wealth is a factor of the rate of return, that is only part of the equation. Most often the magical rate of return that we are chasing comes with RISK. A better approach to creating wealth will focus on eliminating the eroding factors and maintaining control of the money.
Read the full story here:
http://legacyinsuranceagency.com/financialintelligence/howtosurvive-finance.html
http://legacyinsuranceagency.com/financialintelligence/howtosurvive-finance.html
Wednesday, May 27, 2009
Disability Income Awareness Month
May 2009 has been Designated as Disability Income Awareness Month
What is DIAM? Disability Insurance Awareness Month (DIAM) is an industry-wide campaign designed to get American workers to think about the need to protect their greatest asset – their ability to earn an income. Becoming disabled and not being able to work is one of the greatest financial risks people face, and yet disability insurance continues to be one of the most overlooked and misunderstood types of insurance today.
Learn how to protect your income with disability insurance by clicking this link:
http://legacyinsuranceagency.com/disabilityinsurance.html
Wednesday, April 15, 2009
The IRS and Fed Cartel - Thieves!
The IRS and Fed Cartel
The IRS appears to be a collection agency working for foreign banks engaging in money laundering, extortion racketeering, and conspiracy. Much like the Federal Reserve, it operates under “secret code” and mounds of amendments, clauses and paperwork. Operating out of Puerto Rico under disguise of the Federal Alcohol Administration (“FAA”), the FAA was promptly declared unconstitutional inside the 50 States by the U.S. Supreme Court in the case of U.S. v. Constantine, 296 U.S. 287 (1935), because Prohibition had already been repealed. There is no known Act of Congress, nor any Executive Order, giving th IRS lawful jurisdiction to operate within any of the 50 States of the Union.
Their presence within the 50 States appears to stem from certain Agreements on Coordination of Tax Administration (“ACTA”), which officials in those States have consummated with the Commissioner of Internal Revenue. A template for ACTA agreements can be found at the IRS Internet website and in the Supreme Law Library on the Internet. However, those ACTA agreements are demonstrably fraudulent, for example, by expressly defining “IRS” as a lawful bureau within the U.S. Department of the Treasury.
Moreover, those ACTA agreements also appear to violate State laws requiring competitive bidding before such a service contract can be awarded by a State government to any subcontractor. There is no evidence to indicate that ACTA agreements were reached after competitive bidding processes; on the contrary, the IRS is adamant about maintaining a monopoly syndicate. The identity of the Secretary is not found in title 26 U.S.C.. The only reference to the identity of the Secretary of the Treasury is in 27 C.F.R. at section 250.11 (definitions) which specifically states: "Secretary means Secretary of the Treasury of Puerto Rico".
In 1998, the United States Court of Appeals for the First Circuit identified a second “Secretary of the Treasury” as a man by the name of Manual Díaz-Saldaña.
Contact him and see what kind of response you get:
Departamento De Hacienda
Secretary of the Treasury
Manuel Diaz Saldana
P.O. Box 4515
San Juan, Puerto Rico, 00902
1-787-721-2020
To learn more about the Federal Reserve and Taxes visit:
http://legacyinsuranceagency.com/taxes/taxhistory.html
Much of this blog was reprinted from: http://www.supremelaw.org
The IRS appears to be a collection agency working for foreign banks engaging in money laundering, extortion racketeering, and conspiracy. Much like the Federal Reserve, it operates under “secret code” and mounds of amendments, clauses and paperwork. Operating out of Puerto Rico under disguise of the Federal Alcohol Administration (“FAA”), the FAA was promptly declared unconstitutional inside the 50 States by the U.S. Supreme Court in the case of U.S. v. Constantine, 296 U.S. 287 (1935), because Prohibition had already been repealed. There is no known Act of Congress, nor any Executive Order, giving th IRS lawful jurisdiction to operate within any of the 50 States of the Union.
Their presence within the 50 States appears to stem from certain Agreements on Coordination of Tax Administration (“ACTA”), which officials in those States have consummated with the Commissioner of Internal Revenue. A template for ACTA agreements can be found at the IRS Internet website and in the Supreme Law Library on the Internet. However, those ACTA agreements are demonstrably fraudulent, for example, by expressly defining “IRS” as a lawful bureau within the U.S. Department of the Treasury.
Moreover, those ACTA agreements also appear to violate State laws requiring competitive bidding before such a service contract can be awarded by a State government to any subcontractor. There is no evidence to indicate that ACTA agreements were reached after competitive bidding processes; on the contrary, the IRS is adamant about maintaining a monopoly syndicate. The identity of the Secretary is not found in title 26 U.S.C.. The only reference to the identity of the Secretary of the Treasury is in 27 C.F.R. at section 250.11 (definitions) which specifically states: "Secretary means Secretary of the Treasury of Puerto Rico".
In 1998, the United States Court of Appeals for the First Circuit identified a second “Secretary of the Treasury” as a man by the name of Manual Díaz-Saldaña.
Contact him and see what kind of response you get:
Departamento De Hacienda
Secretary of the Treasury
Manuel Diaz Saldana
P.O. Box 4515
San Juan, Puerto Rico, 00902
1-787-721-2020
To learn more about the Federal Reserve and Taxes visit:
http://legacyinsuranceagency.com/taxes/taxhistory.html
Much of this blog was reprinted from: http://www.supremelaw.org
Monday, April 13, 2009
Protect Yourself From The Unexpected With Short Term Medical Insurance
Protect Yourself From The Unexpected with Short Term Medical Insurance
Short Term Medical Insurance or Temporary Health Insurance can help you protect yourself from the unexpected. The unexpected can happen at any time, while you're in between jobs or after college and before you launch your career. So, why take risks with your health?
You can cover yourself with short-term medical insurance, also known as temporary health insurance. Temporary health insurance can cover you when you change jobs, when you move or any time you have a need for temporary insurance. Short-Term Medical coverage is available for individuals and families.
Perhaps you've been laid off or you're between jobs, if so you may want to consider a temporary solution. Usually, temporary insurance can be purchased for 1 month, 3 months, 6 months or a year. Maybe you have moved and haven't decided on the exact type of plan you are looking for. The important thing is to have coverage in case of the unexpected.
With temporary health insurance, underwriting is easy and you can usually be covered by the next day. You can apply online here http://legacyinsuranceagency.com/shorttermmedical.html
Accidents happen, so make sure you are protected.
Be safe,
Barry Page
Barry Page is a licensed health and life insurance agent. He can be reaced online at www.legacyinsuranceagency.com
Short Term Medical Insurance or Temporary Health Insurance can help you protect yourself from the unexpected. The unexpected can happen at any time, while you're in between jobs or after college and before you launch your career. So, why take risks with your health?
You can cover yourself with short-term medical insurance, also known as temporary health insurance. Temporary health insurance can cover you when you change jobs, when you move or any time you have a need for temporary insurance. Short-Term Medical coverage is available for individuals and families.
Perhaps you've been laid off or you're between jobs, if so you may want to consider a temporary solution. Usually, temporary insurance can be purchased for 1 month, 3 months, 6 months or a year. Maybe you have moved and haven't decided on the exact type of plan you are looking for. The important thing is to have coverage in case of the unexpected.
With temporary health insurance, underwriting is easy and you can usually be covered by the next day. You can apply online here http://legacyinsuranceagency.com/shorttermmedical.html
Accidents happen, so make sure you are protected.
Be safe,
Barry Page
Barry Page is a licensed health and life insurance agent. He can be reaced online at www.legacyinsuranceagency.com
Saturday, December 27, 2008
How To Buy Whole Life Insurance
Discover The Benefits of Cash Value Dividend Paying Whole Life Insurance
Once you learn how to buy whole life insurance, and truly understand how it works, you can use the cash value to finance everything you buy. This requires discipline though and should only be used with the aid of an experienced agent.
All life insurance policies pay a claim when you die, but whole life can provide many economic benefits while you're alive. If the policy is set-up correctly when you initially make the purchase, you can use it much like any other financial account as a place for your money to reside. The important step is to buy cash value, dividend paying whole-life insurance from a mutual company.
There are but a few mutual companies left today. Most of the life insurance companies have demutualized and become stock based companies. This means their obligation is to their stockholders. Mutual companies have an obligation to their policyholders. To name a few, MassMutual, Guardian, Northwestern Mutual and New York Life. There are more, but those are the major players that have been around for a while.
Before we get started on how to buy whole life insurance, let's take a look at how the policy works. With a Whole Life Insurance Policy the premiums remain fixed for the life of the policy. A portion of the premium is used to purchase and accumulate a guaranteed cash value thus adding a savings element. You can purchase paid up additional insurance as well to increase this cash value. Dividends, which are not guaranteed, may also increase policy cash value. Provided that premiums are paid as specified in the policy, the policy remains in force during the insured's entire lifetime.
The part of your premium that goes into a cash reserve and accumulates as cash value is tax-deferred and can be tax-free if accessed correctly. Generally you can access this cash value at any time, for any reason (Imagine doing that at your bank without a lengthy application and credit report). The reasons could be many including financing a car, a hardship, college, marriage, retirement or critical illness.
While providing many benefits of its own, whole life insurance also makes your other assets stronger. By providing protection, a hedge against inflation and significant tax benefits. With permanent life insurance in place at retirement the owner of the policy can spend down all of his assets if needed without fear of running out of money.
Some of the many benefits of owning whole life insurance:
Once you learn how to buy whole life insurance, and truly understand how it works, you can use the cash value to finance everything you buy. This requires discipline though and should only be used with the aid of an experienced agent.
All life insurance policies pay a claim when you die, but whole life can provide many economic benefits while you're alive. If the policy is set-up correctly when you initially make the purchase, you can use it much like any other financial account as a place for your money to reside. The important step is to buy cash value, dividend paying whole-life insurance from a mutual company.
There are but a few mutual companies left today. Most of the life insurance companies have demutualized and become stock based companies. This means their obligation is to their stockholders. Mutual companies have an obligation to their policyholders. To name a few, MassMutual, Guardian, Northwestern Mutual and New York Life. There are more, but those are the major players that have been around for a while.
Before we get started on how to buy whole life insurance, let's take a look at how the policy works. With a Whole Life Insurance Policy the premiums remain fixed for the life of the policy. A portion of the premium is used to purchase and accumulate a guaranteed cash value thus adding a savings element. You can purchase paid up additional insurance as well to increase this cash value. Dividends, which are not guaranteed, may also increase policy cash value. Provided that premiums are paid as specified in the policy, the policy remains in force during the insured's entire lifetime.
The part of your premium that goes into a cash reserve and accumulates as cash value is tax-deferred and can be tax-free if accessed correctly. Generally you can access this cash value at any time, for any reason (Imagine doing that at your bank without a lengthy application and credit report). The reasons could be many including financing a car, a hardship, college, marriage, retirement or critical illness.
While providing many benefits of its own, whole life insurance also makes your other assets stronger. By providing protection, a hedge against inflation and significant tax benefits. With permanent life insurance in place at retirement the owner of the policy can spend down all of his assets if needed without fear of running out of money.
Some of the many benefits of owning whole life insurance:
- Tax Deferred
- Tax Free *
- Estate Tax Free *
- Unlimited Contributions *
- Competitive Return On Investment
- Guarantee
- Creditor Protection *
- Unlimited Investment Options
- Collateral
- Liquid, Use and Control
- Disability Waiver *
*Benefits may vary based on your situation. All benefits should be examined by an experienced agent and may not work in all cases.
Before you purchase whole life insurance, follow these steps:
- Interview and find an agent that represents a mutual life insurance company. Ask the agents how much life insurance they own, and how much is whole life (Pay close attention to see if they mention "human life value" or "economic value".
- Once you find an agent and decide on a mutual company, decide how much life insurance you want. You will find this is different than what you may have been told to buy, or how much you need.
- You may want to own some term insurance to help you achieve your human life value. If the term is from a mutual company, it is usually convertible to whole life at a later time.
- After you decide how much you want you can then determine how to fund the policy. Your agent should help you here, that's what he gets paid to do. Factors will include how long you want to fund the policy and how you foresee yourself using the policy in the future.
- A few important riders you should look for include the waiver of premium, and paid-up-additions rider. The waiver will protect you in the event of your disability and the PUA will allow you to overfund the policy as you want to help grow your cash value.
Follow these steps and buy whole life insurance while you are young and healthy. If you have health issues, then you can buy it on your spouse, children or loved ones and you can retain ownership. Whole life insurance can provide many benefits while you are alive and allow you to pass on a legacy of financial independence to your heirs.
Enjoy Life Today, Leave a Legacy for Tomorrow sm,
Barry Page
Barry Page is an experienced life insurance agent. He can be reached at: http://www.legacyinsuranceagency.com/
Wednesday, November 19, 2008
Post Election Tax Reform
Campaign 2008 is finally over. Democrats are stunned that they haven't blown it again, and Republicans feel bamboozled, but seem ready to move forward. Barack Obama will be the 44th President of the United States. He'll take office in January with strong Democratic majorities in both the House and Senate and the most sweeping tax proposals since the 1986 tax reform.
Obama himself promised to cut taxes for families making less than $250,000, uh $200,000, via Biden that's $150,000 per year. But who knows how long that promise will last?
Now it's time for Obama's campaign promises to meet economic reality. And one of those realities is that there just aren't as many Wall Street millionaires to tax as there were when Obama rolled out his plan!
Understandably, the media has generally focused on the true bailout provisions of the Emergency Economic Stabilization Act of 2008. But this landmark legislation also contains a bundle of tax law changes that will affect you as an individual taxpayer.
You should take the time now to protect your profits from new tax legislation. The decisions you make now will affect your spendable income and your family's future.
Obama himself promised to cut taxes for families making less than $250,000, uh $200,000, via Biden that's $150,000 per year. But who knows how long that promise will last?
Now it's time for Obama's campaign promises to meet economic reality. And one of those realities is that there just aren't as many Wall Street millionaires to tax as there were when Obama rolled out his plan!
Understandably, the media has generally focused on the true bailout provisions of the Emergency Economic Stabilization Act of 2008. But this landmark legislation also contains a bundle of tax law changes that will affect you as an individual taxpayer.
You should take the time now to protect your profits from new tax legislation. The decisions you make now will affect your spendable income and your family's future.
Thursday, September 4, 2008
How To Save with Your Life Insurance
Life Insurance Planning
It May Be Time to Reevaluate Your Policy
You can use life insurance to protect your family and save money in any economy. As the political landscape heats up headlines will abound. Unfortunately, many of these headlines will be of negative news. One recent headline from the Washington Post read “Inflation Climbs to 17-Year High.” So, you are paying more now for what it takes you to live on. Things like food, clothing and gas.
The good news is there is one thing that works as a hedge against inflation, Life Insurance. As a matter of fact, because of mortality rates increasing, the cost of life insurance has actually gone down in recent years. And, as you look for more effective ways to have your dollar last longer and work harder, permanent life insurance provides protection, savings and growth.
So, how can you save money with your life insurance? Well, first you need to evaluate your situation with a qualified life insurance agent to make sure your family's needs are covered. Second, if you currently have enough coverage, you may be able to get a better rate now than when you first applied. Third, there are more and better choices today and your current plan may be out of date.
Let's take a look at some specifics. According to LIMRA, a leading authority on life insurance research, over 68 million Americans have no life insurance and many that do, don't have enough. Some may look at this and say they don't have it because they can't afford it. Nothing could be further from the truth. Life insurance is more affordable than ever, and in many cases it's less than any regular bill every month. And, if you don't have it, your family will ultimately pay more. If you are having problems making ends meet, a qualified agent can help you find money that you are probably losing to fees, taxes and other unnecessary expenses.
Other important points of interest include financing, education, retirement and medical costs. When structured properly, life insurance can provide all of these added benefits in a single product. Proper coordination and integration is required here, so again you will want to seek competent advice.
The bottom line, life insurance provides multiple uses of your money. No other product can guarantee that what you want to happen will happen, regardless of what else happens with the economy, the weather and your health.
So, why not take the opportunity to speak with your life insurance agent today. Your family and charity are depending on you.
Enjoy life today and leave a legacy for tomorrow,
Barry Page
www.legacyinsuranceagency.com
Barry Page is a licensed, independent life insurance agent.
Learn more about life insurance here: http://legacyinsuranceagency.com/lifeinsurance.html
It May Be Time to Reevaluate Your Policy
You can use life insurance to protect your family and save money in any economy. As the political landscape heats up headlines will abound. Unfortunately, many of these headlines will be of negative news. One recent headline from the Washington Post read “Inflation Climbs to 17-Year High.” So, you are paying more now for what it takes you to live on. Things like food, clothing and gas.
The good news is there is one thing that works as a hedge against inflation, Life Insurance. As a matter of fact, because of mortality rates increasing, the cost of life insurance has actually gone down in recent years. And, as you look for more effective ways to have your dollar last longer and work harder, permanent life insurance provides protection, savings and growth.
So, how can you save money with your life insurance? Well, first you need to evaluate your situation with a qualified life insurance agent to make sure your family's needs are covered. Second, if you currently have enough coverage, you may be able to get a better rate now than when you first applied. Third, there are more and better choices today and your current plan may be out of date.
Let's take a look at some specifics. According to LIMRA, a leading authority on life insurance research, over 68 million Americans have no life insurance and many that do, don't have enough. Some may look at this and say they don't have it because they can't afford it. Nothing could be further from the truth. Life insurance is more affordable than ever, and in many cases it's less than any regular bill every month. And, if you don't have it, your family will ultimately pay more. If you are having problems making ends meet, a qualified agent can help you find money that you are probably losing to fees, taxes and other unnecessary expenses.
Other important points of interest include financing, education, retirement and medical costs. When structured properly, life insurance can provide all of these added benefits in a single product. Proper coordination and integration is required here, so again you will want to seek competent advice.
The bottom line, life insurance provides multiple uses of your money. No other product can guarantee that what you want to happen will happen, regardless of what else happens with the economy, the weather and your health.
So, why not take the opportunity to speak with your life insurance agent today. Your family and charity are depending on you.
Enjoy life today and leave a legacy for tomorrow,
Barry Page
www.legacyinsuranceagency.com
Barry Page is a licensed, independent life insurance agent.
Learn more about life insurance here: http://legacyinsuranceagency.com/lifeinsurance.html
Sunday, August 10, 2008
HOW TO CREATE YOUR OWN BANK
Learn How To Create Your Own Banking System Using the Infinite Banking Concept™
WHAT IF:
· You could recapture all the money you paid for a car?
· You could recapture all the interest you paid on financing it?
· You could make the same profits as the banking institution that financed it?
AND --- DO IT ALL ON A TAX-FREE BASIS!
Infinite Banking teaches the process of using your current flow of finances versus consumption of money, for integrating protection and wealth accumulation enabling one to enhance their assets without creating additional liabilities. If you had your own grocery store would you buy groceries from a competitor's store? If you owned your own bank, would you borrow money from a competitor's bank? Most people agree that if you own a business, it makes sense to fully utilize that business and all its assets for not only your business but also for your personal needs. Yet that is not generally what happens especially when we make significant purchases such as cars, equipment, and homes.
YOU CAN LEARN HOW TO…
· Use available savings and cash flow to build your own “bank”
· Finance things you buy through your own “bank” with loans from your “bank” to you
· Repay your “bank” exactly the same way as you would repay the financial institution you would use otherwise
· Build a system of banks that increases your personal wealth
WHAT IF:
· You could recapture all the money you paid for a car?
· You could recapture all the interest you paid on financing it?
· You could make the same profits as the banking institution that financed it?
AND --- DO IT ALL ON A TAX-FREE BASIS!
Infinite Banking teaches the process of using your current flow of finances versus consumption of money, for integrating protection and wealth accumulation enabling one to enhance their assets without creating additional liabilities. If you had your own grocery store would you buy groceries from a competitor's store? If you owned your own bank, would you borrow money from a competitor's bank? Most people agree that if you own a business, it makes sense to fully utilize that business and all its assets for not only your business but also for your personal needs. Yet that is not generally what happens especially when we make significant purchases such as cars, equipment, and homes.
YOU CAN LEARN HOW TO…
· Use available savings and cash flow to build your own “bank”
· Finance things you buy through your own “bank” with loans from your “bank” to you
· Repay your “bank” exactly the same way as you would repay the financial institution you would use otherwise
· Build a system of banks that increases your personal wealth
Consider this, "we finance evetything that we buy." We either pay interest or we give up earning interest.
Here's the problem, the average American pays 34.5 cents of every disposable dollar to interest! And, we are not saving enough money. Currently the American savings rate is near it's lowest in history, comparable to what it was during the Great Depression. Yet, most people are more concerned about earning interest than paying interest. Even if we were saving 10% of our income (the U.S. average is less than 3%), that would mean that our ratio of paying interest to saving is 3 to 1. Rather than fighting a head wind, wouldn't it make more sense to create our own perpetual tailwind?
You can using the Infinite Banking Concept™. Though this concept has been around as long as the process of arbitrage, Nelson Nash was the first to explain in it in an easy to read book,
Becoming Your Own Banker™. The book details how anyone can create their own banking system using ordinary, dividend paying, whole-life insurance.
While the book has it's skeptics, and some naysayers have even called it a scam, the process is undeniable. You will need a coach, preferrably a qualified life insurance agent that practices the Infinite Banking Concept™ themselves. Don't expect to buy life insurance direct from the company, or ask the home office how the process works, they won't know.
So, if you are tired of paying your hard earned money to the banks and financial institutions, and you want to recapture this interest and deposit it into your own bank, then read the book. You'll learn the basics, see lots of examples of how you can use the concept, and understand what it means to be an "honest banker."
You can purchase the book Becoming Your Own Banker™ here: http://www.legacyinsuranceagency.com/BYOB
Stop Paying Interest and Start Earning Interest Now! The possibilities are infinite...
Until next time,
Barry Page
www.legacyinsuranceagency.com
Barry Page is a member of the Infinite Banking Concept Think Tank and a licensed insurance agent.
Wednesday, June 25, 2008
Managing Debt for Financial Freedom
Financial Freedom – It’s All About Managing the Here-and-Now
By Barry Page
To help achieve financial freedom we need to manage how we spend our money. This may require us to make small shifts in our spending habits today in order to reap big rewards tomorrow.
One way to help secure bigger rewards over time is to control and manage the here-and-now. For those who find it difficult to pass up the corner gourmet coffee shop, read on.
I’m not professing to create a budget; I think budgets are limiting. Better yet, I think you should create a spending plan. Think of your money as a means to an end. What’s important to you and how can you get there. If you want the money to be there in the future, then you need to manage it today.
Think of the following items you may spend money on every day and how, by making “exchanges” in your spending, you may be able to save a little more for the future. It’s all about maximizing the “equation of exchange”.
1. Credit Cards: There is a lot that goes into determining the interest rate you pay on a credit card. The credit card rate you pay is determined by adding a “spread” to a “base rate”. The spread that is used to calculate your rate is usually determined by your credit history. A less than great credit history may result in a spread 2-3 percentage points higher than someone with a better credit history. So it’s important to maintain a good credit rating. Consider calling your credit card company and asking for a reduced rate; if need be, transfer your current balances to a lower rate card.
2. Phones: I’m not going to recommend you get rid of your cell phone, house phone or cable line. I do suggest you review your phone plans to ensure you have the best plan for your needs. For example, for cell phone users who use the same vendor, you may be able to call each other without being charged airtime or usage. Additionally, review your monthly phone bills to determine how many minutes you actually use; you may be better off reducing the number of minutes.
3. Mortgages and Auto Loans: Experts generally recommend if you can reduce your interest rate by 1 or 2 points on your auto or home loan, and recoup any related closing costs, you may be better off to refinance the loan at the lower rate. Another consideration is to make biweekly payments instead of monthly payments on your mortgage. The lender will receive the money faster and in the future, you should have the loan behind you.
4. Gourmet Coffee: Are you one of those folks who stand in line to order gourmet coffee. At a whopping cost of about $3.00 per cup, instead of buying 4 a day, reduce it to 2. This little spending reduction will save you over $2,000 in one year!
5. Charging vs. Paying Cash: Do you charge just about everything you buy? If you find yourself reaching for the plastic, stop and consider what that convenience is costing you. When making small purchases, pay cash. Paying cash helps with managing your expenditures and over time, becomes a way of life.
6. Student Loans: Are you still paying off student loans? Consider consolidating them into one manageable bill. While this will probably extend the payment period, you may lock in a lower rate. For example, if you’ve already graduated and consolidate your loans by July 1, 2006, you can lock in a 5.375% rate for the life of the loan. Additionally, graduates who consolidate during their grace period (the six months before you have to start making monthly payments) can lock in a rate as low as 4.75%.
Now that you’ve hopefully freed up some money, don’t go running to the closest gourmet coffee shop and purchase a latte with sprinkles. Save the money and take one step closer to financial freedom.
Barry Page is a financial consultant with Legacy Insurance Agency, PLLC
a subsidiary of the
Shield Financial Group
2600 Government Street
Ocean Springs, MS 39564
(228) 875-5545
http://www.legacyinsuranceagency.com
By Barry Page
To help achieve financial freedom we need to manage how we spend our money. This may require us to make small shifts in our spending habits today in order to reap big rewards tomorrow.
One way to help secure bigger rewards over time is to control and manage the here-and-now. For those who find it difficult to pass up the corner gourmet coffee shop, read on.
I’m not professing to create a budget; I think budgets are limiting. Better yet, I think you should create a spending plan. Think of your money as a means to an end. What’s important to you and how can you get there. If you want the money to be there in the future, then you need to manage it today.
Think of the following items you may spend money on every day and how, by making “exchanges” in your spending, you may be able to save a little more for the future. It’s all about maximizing the “equation of exchange”.
1. Credit Cards: There is a lot that goes into determining the interest rate you pay on a credit card. The credit card rate you pay is determined by adding a “spread” to a “base rate”. The spread that is used to calculate your rate is usually determined by your credit history. A less than great credit history may result in a spread 2-3 percentage points higher than someone with a better credit history. So it’s important to maintain a good credit rating. Consider calling your credit card company and asking for a reduced rate; if need be, transfer your current balances to a lower rate card.
2. Phones: I’m not going to recommend you get rid of your cell phone, house phone or cable line. I do suggest you review your phone plans to ensure you have the best plan for your needs. For example, for cell phone users who use the same vendor, you may be able to call each other without being charged airtime or usage. Additionally, review your monthly phone bills to determine how many minutes you actually use; you may be better off reducing the number of minutes.
3. Mortgages and Auto Loans: Experts generally recommend if you can reduce your interest rate by 1 or 2 points on your auto or home loan, and recoup any related closing costs, you may be better off to refinance the loan at the lower rate. Another consideration is to make biweekly payments instead of monthly payments on your mortgage. The lender will receive the money faster and in the future, you should have the loan behind you.
4. Gourmet Coffee: Are you one of those folks who stand in line to order gourmet coffee. At a whopping cost of about $3.00 per cup, instead of buying 4 a day, reduce it to 2. This little spending reduction will save you over $2,000 in one year!
5. Charging vs. Paying Cash: Do you charge just about everything you buy? If you find yourself reaching for the plastic, stop and consider what that convenience is costing you. When making small purchases, pay cash. Paying cash helps with managing your expenditures and over time, becomes a way of life.
6. Student Loans: Are you still paying off student loans? Consider consolidating them into one manageable bill. While this will probably extend the payment period, you may lock in a lower rate. For example, if you’ve already graduated and consolidate your loans by July 1, 2006, you can lock in a 5.375% rate for the life of the loan. Additionally, graduates who consolidate during their grace period (the six months before you have to start making monthly payments) can lock in a rate as low as 4.75%.
Now that you’ve hopefully freed up some money, don’t go running to the closest gourmet coffee shop and purchase a latte with sprinkles. Save the money and take one step closer to financial freedom.
Barry Page is a financial consultant with Legacy Insurance Agency, PLLC
a subsidiary of the
Shield Financial Group
2600 Government Street
Ocean Springs, MS 39564
(228) 875-5545
http://www.legacyinsuranceagency.com
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