Who Can't Get A Payday Loan?

Who Can't Get A Payday Loan?
Payday loans should definitely be used as a last resort,
and they are suited for people who need a reasonably small
amount of money in a short period of time. Many of those
who apply for a payday loan also have bad credit. Fees
associated with these fast cash loans are exorbitant,
translating into annual interest rates of 200 percent or
higher - usually much higher! They are also rather easy
to get for most people who are employed full time or near
full time. Not all people, however, who apply for a payday
loan are approved. The following are some of the more
common reasons that people are denied payday loans:

Some people who apply for a payday loan are disapproved
because they don't meet the minimum income requirements.
Even the most flexible payday lenders cannot loan money to
someone who grosses less than about $800 per month. Anyone
working at the federal minimum wage full time would easily
meet this requirement.

Someone who is self employed will find it more difficult to
get a payday loan. Many lenders will not accept self
employed income as security for a payday loan. Those
lenders who do will require you to provide a certain number
of bank statements to verify your income.

An almost universal requirement to get a payday loan is
that the applicant have a bank account. A typical payday
loan is due to be repaid on either your next payday or the
following payday. The money is deducted from your bank
account on the agreed upon date. If you have no bank
account, the lender will not have a way to accept your
payment.

As the term "payday loan" suggests, you must have some kind
of income to qualify. Even if you have a healthy savings
account, you must have income or you will not be approved.
Then again, if you had substantial amount of readily
accessible savings, why would you want to get a loan with a
600% interest rate?

A red flag for most payday lenders is an outstanding loan
with another lender. A person with multiple payday loans
outstanding is viewed as a serious risk of default and
returned checks. Most lenders use a data verification
service to identify applicants with multiple outstanding
cash advances, and to confirm that the banking information
provided by the applicant. If you have had returned checks
in the recent past, especially to a payday lender, this
information will come to light and will prevent you from
getting a payday loan.

Bankruptcy, especially in the last year or two, will make
it more difficult to get a payday loan. While the
information provided to the lender is not a credit report,
it will reveal a recent bankruptcy. Until you have put
some time between you and the bankruptcy, you will be
considered financially unstable and will not be eligible to
get a payday loan from many lenders.

To qualify for a payday loan, you must have been employed
with your current employer for a certain period of time,
usually at least three months. This requirement is not
universal, but many lenders will not approve payday loans
for new employees. You must demonstrate that your
employment situation is somewhat stable, and new employees
are often subject to a probationary period where they may
be more easily terminated.

If you fall into one or more of the above categories that
alarm payday lenders, don't dismay. Not all lenders
consider every one of these factors in their approval
process. Most full time employees would qualify for a
payday loan; however, if you find yourself using payday
loans frequently, take an honest look at your situation.
If your debt is growing out of control already, too many of
these expensive loans can push you to the brink of a
financial disaster, and consequently, you should use them
rarely and cautiously.

----------------------------------------------------
Gregg Pennington writes articles on a variety of topics
including payday loans, bad credit loans, and other sources
of money available online. For more information about
payday loans and cash advance loans visit
http://www.onlinemoneysources.net/payday-loans.html

7 Thoughts on MONEY!

7 Thoughts on MONEY!
Money is any good or token that functions as a medium of
exchange that is socially and legally accepted in payment
for goods and services and in settlement of debts. Money
also serves as a standard of value for measuring the
relative worth of different goods and services and as a
store of value.

What is the value of money?

You should know that money is valuable only as long as it
is being used. Once it has been taken out of circulation,
it becomes as worthless as the "old newspapers" or "empty
beer cans" that have been stashed away in the attic. It
doesn't mean to say it should be squandered!

Is money good or bad?

Always remember, money is a servant; you are the master.
Some may say that they don't care about money. This can be
so, but what about the person who holds their mortgage,
what about your local supermarket, what about your car
dealer. THEY DO.

In truth, there can be no denial of the fact that money is
important to any person living in a civilized society.
Therefore, to argue that it is not as important as this or
that, is absurd. For nothing can take the place of money in
the arena in which it is used!

Consider this-money will have a greater influence on your
life than almost any other commodity you can think of. How
much influence will it have on your life when you don't
have money to pay the bills you need to pay, or do the
things you need/want to do.

This makes the conclusion that "Money" isn't a bad thing to
have, What is wrong with adding value to your life and the
people around you that you love and care about.

Is money a result of LucK?

Another myth many people like to accept about money is that
it only comes as a result of "luck" or "good fortune." For
instance, whenever people gather to talk about someone they
know who has been financially successful, there is always
someone among them who will say, "He/She was just lucky,"
or "He/She was just in the right place at the right time."
Although "luck" obviously plays some part in financial
success, it is never sufficient in and of itself. Money is
an effect and it must always be earned.

According to the Social Security Administration:

If you take 100 people and follow them from when they start
working untill they retire 40 years later:

1 will be wealthy, 4 will be financially secure, 5
will continue working, because they have to, 36 will be
dead, 54 will be dead broke, depending on Social Security
and others

Ninety-five people out of a hundred settle for whatever
they get, wishing they had more all the way from the cradle
to the casket. never understanding that they could actually
have had all they wanted.

There is no single quality that stands out among the
wealthy 5% except one

They understand that abundance is there for the taken. It
is not a win-lose situation, there is enough for everyone.

Conclusion

We have talked about money and what money stands for and we
came up with the following results:

1. Money is a standard of value for measuring the relative
worth of different goods and services

2. Money is valuable only as long as it is being used.

3. Money is important to any person living in a civilized
society.

4. Money will have a greater influence on your life than
almost any other commodity you can think of.

5. Money is an effect and it must always be earned.

6. Out of a hundred people ninety-five settle for whatever
they get and only 5 will get wealthy.

7. The wealthy 5% in the world understand that abundance is
there for the taken and that there is enough for
everyone.

Every human being has been born rich, it's just that most
people are temporarily a little short of money!

----------------------------------------------------
Bjorn Brands is a successfull enterprenuer who transitioned
from having his own building company to a great online
business. Learn how you can use The Law of Attraction like
he did. Visit http://freeinfo.thesgrprogram.com

It's True... You don't have to lose -Even a Dime- Of your wealth to the IRS

It's True... You don't have to lose -Even a Dime- Of your wealth to the IRS
Most of the concepts and strategies you read in this tax
column are really answers to questions asked (or concerns,
problems or fears told to us) by readers who called our
office. Also tossed into the column is a large helping of
our years of experience consulting with our readers. About
three out of every four readers who call ask a variation of
this troublesome question, "What will estate planning do
for me, my family and my business?" The simple answer: The
"right plan" will accomplish all your goals. Actually the
right estate plan is a group of small plans that all
dovetail together. There are basically two types of plans:
a lifetime plan that should start now (in the next two or
three months), and a death plan (really your will and trust
documents) that can sit in a drawer until you get hit by
the final bus. By far the lifetime plan is the most
important of the two. Let me say it loud and clear: Never,
under any circumstances can your will and trust-no matter
how fancy or how long-accomplish your lifetime goals. Even
worse, standing alone, rarely can your will and trust
accomplish your estate planning (death) goals. Remember,
your death documents do absolutely nothing until after you
have drawn your last breath. Okay, so lifetime planning is
the way to go. The typical business owner (let's call him
Joe) will have three plans:

(1) a retirement plan,

(2) a business succession plan (who will run the company
when Joe slows down, because in practice Joe rarely totally
leaves the business until he goes to business heaven) and

(3) a business transfer plan (usually leaving the business
to Joe's business child or children) or a sales plan (to
key employees or an outside buyer if there are no kids or
employees to take over the business). Can you imagine any
of these three plans being effectively handled in death
documents? The various plans that we-as consultants-create
are in response to the goals that you-the client-list. To
help you get started on the first task of creating the
"right plans" the balance of this article focuses on the
ten most common goals we hear from clients in the real
world. Every one of these goals can be accomplished with
ease by employing the appropriate strategy [most often used
strategies given in brackets]. You'll easily recognize
which are part of a lifetime plan and which a death plan.

As you read, circle the goals that match your goals.

1. Maintain our lifestyle (Joe's and his wife Mary) for as
long a we live [intentionally defective trust, S
corporation, family limited partnership, retirement plan,
TIPs, which stands for transferable insurance policies].

2. Control my (Joe's) wealth-including my business-for as
long as I live [voting/nonvoting stock for business, family
limited partnership].

3. Maintain Mary's lifestyle for as long as she lives
[marital deduction, irrevocable life insurance trust, plus
all strategies as shown in 1 above].

4. Pass all of my wealth-every dime of it-to my family,
instead of losing it to the IRS [strategies as shown in the
other eleven items in this list].

5. Transfer my business to our business children…tax-free
[intentionally defective trust; never a sale].

6. Treat children (really non-business children) fairly
[family limited partnership, irrevocable life insurance
trust, subtrust, retirement plan rescue].

7. Avoid the huge (up to 80 percent) double tax on my
qualified retirement plan-like a profit-sharing plan,
401(k) or IRA-money [subtrust, retirement plan rescue].

8. Educate my children / grandchildren [Private retirement
plan].

9. Eliminate the capital gains tax [charitable remainder
trust].

10. Attract key employees and keep my key employees
[non-qualified deferred compensation plan].

11. An investment without risk that earns 8% (could be more
or less depending on person who calls). [TIPs, an
investment that has averaged 15.83% annual return for the
past 15 years. Offered by a public company that trades on
the NASDAQ. Must be an Accredited Investor, minimum
investment $50,000].

12. Establish a family foundation and make gifts to charity
without reducing the value of our wealth to be inherited by
our family [charitable lead trust and charitable remainder
trust].

The 12 goals listed above (followed by the tax strategies
that easily accomplish your goals) are actually a good road
map to help you get started on your own tax plans.

Want to learn more? Discover all the tax strategies and an
organized system that shows you how to quickly accomplish
all of your goals as you create your own lifetime plan and
estate plan.

----------------------------------------------------
Irv Blackman is a very experienced CPA and lawyer. He
founded Blackman & Kallick, the largest independent CPA
firm in Illinois, and is the founding Chairman of the Board
of New Century Bank of Chicago.
Website: http://www.taxsecretsofthewealthy.com .

Things NOT to do and use when daytrading

Things NOT to do and use when daytrading
Daytrading is a very difficult endeavor for anyone who's
tried it. Those who go through it day after day will agree
that everyday is different and that each day requires
maximum attention. The end of each trading day leaves the
daytraders exhausted. But not only does it take stamina,
endurance, high degree of concentration and focus, there
are other factors that make a daytrader a special breed
apart from other types of traders. Every tick or second
counts. Precision and personal discipline makes the
difference between a loss and a profit. Not everyone is cut
out to be a successful trader. In fact, 95% of daytraders
fail eventually. But here are a summary of what NOT to do
that can help further enhance his chances of surviving the
daytrading jungle.

1.Do not discard or discount money management. This is the
single most important rule. Using sound money management
can lengthen the trading career. The longer his trading
longevity, the higher his chances of becoming successful.
Success requires experience and experience requires time.
Using money management is buying time to become profitable
in the long run.

2.Do not start trading without a trading plan or a
well-tested profitable strategy. A well-thought,
well-researched trading discipline helps maintain control
and focus to trader properly and not panic.

3.Ego is NOT money. Using ego to trade is tossing money the
window. Ego and money cannot co-existence in the markets.
Never have, never will.

4.Do not be distracted with news. News creates emotional
states: hysteria, euphoria, panic. These states of mind
will not help trading. News does move the market but
trading the markets is more profitable than trading the
news.

5.Do not be distracted by the surroundings. Absolute focus
is a must. Outside distractions and interruptions will
negate the trader from receiving the steady flow of market
information.

6.Do not count the money before the trade is closed. This
is a newbie mistake where money is the reason he becomes a
trader. Money is the least important factor in becoming
successful. Focus on the market and not the money, market
will reward accordingly.

7.Do not be tempted in entering trades that look too good
to be true. There are days when the markets seem so easy to
take money from the market. Those are the days that ego and
feeling of invincibility that will precede the next losing
streak.

8.Do not let the market dictate the mood. Gap ups and gap
downs and quick moves up or down can create a false sense
of who's in control and direction. Careful with these
sentiments because the opposite direction may just be
around the corner. Professionals wait for confirmation
before joining in the euphoria or panic.

9.Do not be bored or angry if there are no setups. There
are days when the biggest accounts dry up are those
trendless, low volume days. Watch for them and stay away
from them.

10.Do not think that today is the same as yesterday or any
other day. No day is alike. If he believes it is, then the
bias has been sucked into his mind, creating a setup for a
losing day.

11.Do not forget to use the stop loss orders immediately
upon entry. Stops are the life jackets to save the trader
from himself and the markets. Stops will help him stay safe
to trade another, the one that may take his equity higher.
No single trade should be a show stopper.

12.Do not think the market is an easy place to make money,
even when it does look like it. Take everyday as a new day
without remembering the previous days. Complacency is the
enemy of profitability down the road.

13.Do not follow opinions and calls in newsrooms, chat
rooms or forums without doing your own research. These are
biases that will lead to losses or worse, the trader paid
and learned nothing from them.

There are countless important rules but these are the most
pertinent in getting the trader started in thinking and
preparing for the world of daytrading. This type of trading
is probably one of the most difficult anyone has ever
tried, even more stressful than being a CEO of a big
corporation because personal defects and shortcomings will
be exposed immediately and the process of becoming
successful is a road full of self development and self
examination that will be painful. Finding self, a
successful strategy and physical and mental stamina will be
a long journey. But the reward carries an enormous
satisfaction when the objective is finally within reach.

----------------------------------------------------
Larry Swing is the President of the popular day and swing
trading site http://www.mrswing.com a place where you can
find free daily articles and videos covering education,
market analysis and picks from Larry and other well known
traders in the industry.