Seven Myths About Debt You Might Believe (at Your Peril)

Seven Myths About Debt You Might Believe (at Your Peril)
Debt is the sort of subject that people keep to themselves.
There is a lot of interior monologue going on about debt,
but not much real conversation.

In that kind of climate, a lot of wrong beliefs can spring
up. While some mistaken ideas about debt may be academic
matter or of not much consequence, some can be serious.

In fact, to really tackle your debt problem you have to
understand it. Part of that means understanding your own
spending habits and personal situation. I can't help you
there.

But the other part means understanding debt and how it
works.

Here are seven common myths people believe about debts.

The first: debt is a recent phenomenon.

Many of us think that it is our modern, overextended
lifestyle that contributes to debt and that in ancient
times, people just did not have the same problem with money
that we do. That's not true. Provisions for bankruptcy
protection appear in the United States Constitution (1763).

Debtors' prisons were common in the industrial revolution.
And in Biblical times, people who were in debt might sell
themselves into slavery to appease a creditor. The truth is
debt has been around about a half hour after the creation
of money.

The second myth: debt shows a lack of character.

Now it is true that a disreputable person can easily get
himself or herself into debt, but debt is not in and of
itself a character flaw. Debt occurs because of a
convergence of unfortunate financial circumstances. This
may be avoidable or unavoidable. However, the debt that
results does not prove anything about the person who has it.

Debt is a problem, but it's not evidence you are a failure.

The third myth: debt is just something you have to live
with.

This is a dangerous myth because debt is like a bleeding
wound. You really cannot afford to leave it untended too
long.

I sometimes think that debt is a lot like obesity. If that
is your problem, you have to fight it. You can't afford to
ignore it or pretend it's not a problem.

Debt robs you of your future prosperity; it drains the
resources you and your family need.

The fourth myth: everybody is in debt.

It's easy to see why people believe this, because so many
people are massively in debt. But do you know what? A good
many people have no debt. In fact, the majority of people
in the U.S. have manageable amounts of debt in proportion
to their incomes. Overwhelming debt is not something most
people deal with.

That's good news if you have overwhelming debt. Do you know
why? It means it's possible to live another way. In fact,
most people do. If they can do it, so can you!

The fifth myth: it takes forever to get out of debt.

That myth is true if you just wish you were out of debt or
you have some lackadaisical approach to it. Do you know
that there are coaches who can take an unfit person and
train him or her to complete a marathon in six months?
People can lose 100 pounds in a year. Some people can make
a fortune or complete a degree in four years. The point is
that great things can be accomplished even in unlikely
individuals if you do two things: get a plan and follow the
plan.

People have paid off very large debts in fairly short
amounts of time with the right plan and coaching.

The sixth myth: debt doesn't matter.

Fortunately, this one is not as common as some of the
others. However, it's very destructive. Typically, people
who buy into this myth grew up in households that were very
comfortable with high amounts of debt. This does not always
create the proper perspective for future financial security!

Debt wastes large amount of your money and can cause your
family to burn up high amounts of income on average-levels
of lifestyle.

The last myth that people believe about debt is that you
can't handle debt (you need to hire an expert to help you).

It is true that there are lots of people and businesses who
specialize in helping people with debt. But be very
careful. To enjoy good financial health, you have to learn
how to take care of your own money.

This means that handing over a large amount of money to a
debt company that promises to take care of your problems
(so you can walk away) may be a dangerous decision. Here's
why. If you don't understand what they're doing with your
money, you are giving them a good opportunity to rip you
off. It can be the financial equivalent of handing your
wallet to a stranger and saying, "Take what you want."

Second, if you don't know how you wound up in debt, you
won't be able to get out.

Debt consolidation is an approach to handling debt but it's
a term that is frequently used carelessly online.
Technically, debt consolidation just repackages or
reorganizes debt in a way that makes it more favorable.

However, many companies who offer to settle or negotiate
your debt (get your creditors to take less than you owe)
call their services debt consolidation. There are a lot of
myths out there about debt and how to manage your debt. An
education can be the best defense!

----------------------------------------------------
Want to get straight talk about debt consolidation? Visit
http://www.mydebtconsolidationanswers.com . For a free
report on your financial style, visit
http://www.debt-consolidaiton-diva.com .

For Financial Analysts: 6 Steps To Finding A New Job

For Financial Analysts: 6 Steps To Finding A New Job
The financial industry is cyclical and volatile. What if
you are displaced from your position? It can be a challenge
to think objectively at a time when the future suddenly
becomes bleak and directionless. Financial analyst jobs can
be difficult to come by when the industry is going through
a shake-up.

Here is a six-step action plan to finding a new job. Notice
that looking for a new job is last on the list.

1. Acceptance

Accepting reality is the first step so you can cast aside
your resistance and resentments. This will you gain a clear
perspective of the big picture. These emotions are
understandable given the circumstances but they will get in
your way if you want to move forward in your career.

2. Take a vacation

Allow yourself time to unwind from the tension and anxiety
built up prior to the layoff. Look at it as a paid
vacation. You've been working long hours and you deserve a
vacation. You will be able to think better and more
creatively when you are relaxed.

3. Design the life you choose to create

With your financial analyst job out of the way and 80-100
hours released to you each week, you will have the time and
freedom to design the life you want.

What does the vision of your life look like? If you don't
already have one, now is the time to create yours. Once you
have decided on your life vision, make plans to
deliberately create opportunities towards it.

Your life vision should cover all major aspects of your
life. Here's a list of the main areas. Feel free to make
your own list.

* Career
* Self
* Family and friends
* Relationships
* Health
* Wealth
* Fun
* Contribution

You may wonder why you need to include so many areas of
your life when all you are looking for is a financial
analyst job. These areas are all intertwined and
inseparable. Each one of them will impact one or more areas
in your life.

4. Assess where you are

Compare where you are now to your life goals. It is like
finding the "You are here" sign on the shopping mall
directory. This will help you gauge how far you are and the
alternative routes that will take you to your destination.

If you are most recently an equity research analyst and you
would like to move into hedge funds one day, how many ways
can you get there? What skills do you need to acquire to
qualify for the position? How do you build them into your
next career move?

5. Develop your job search action plan

List up to ten specific measurable goals to complete within
the next 30 days. Break down your larger goals into smaller
steps and set a target completion date for each step.

If the supply of financial analyst jobs is slowing, explore
options and alternatives to reach your career goals so you
can build some flexibility into your action plan. This
increases your chance of finding a position and still in
line with your long-term career goals. For example, moving
into buy-side equity analyst job or hedge fund research are
both logical next steps for a sell-side equity analyst who
aspires to become a hedge fund manager.

6. Take action: looking for a new job

I have placed this last on the job search action list
because I believe it is necessary to first have a specific
career goal before contacting the recruiter or networking
with your connections in the field.

You must first know which direction you want to go, then
you can articulate intelligently to the recruiters and
potential employers what you want. No one wants to hire a
desperate, panicky prospect who will accept any position
just because.

Remember to review and fine tune your job search action
plan weekly to help you monitor your progress. Follow up
with purposeful actions.

----------------------------------------------------
Corinne Lor is a success coach for professionals in the
banking and finance industry. Visit her blog at
http://financialanalystblog.com to sign up for a free 7 day
course.

Cold Calling: The Ultimate Sales Training Part 1

Cold Calling: The Ultimate Sales Training Part 1
Are you a financial analyst who dreads cold-calling? Learn
to master it. It is your ultimate training in marketing.
Imagine what it can do for your career when you can sell
your products to strangers over the phone?

As a financial analyst, you are always marketing something.
Before you can even step your foot in the field, you will
have to successfully market yourself in job interviews.
Whether you are in equity research, institutional sales or
investment banking, you are always marketing ideas.

Cold-calling is only dreadful when you don't have a game
plan. Before you even pick up the phone, you need to be
well prepared.

Know your products, your company and your competition.
Ideally, you must believe in the product you are selling,
i.e. a product that you yourself would buy. But in the case
of an summer internship, this may or may not be the case.

Research the products and pricing of close competitors so
you know how your company's products compare. Understand
how the products' strengths play out against its weaknesses
so you can effectively handle objections.

Remember that the first impression you can make to your
prospect over the phone is through your voice. When you
believe in the products you're selling, you will exude
confidence in your voice.

Prepare an irresistible script. The best "script" is a
conversation, not a sales pitch. A listener is more open to
a friendly conversation than to a sales pitch. If the
company gives you a script, use it as a reference. If you
read it verbatim, I guarantee that everyone you call will
hang up on you.

An effective script consists of four parts:

- Use informal greetings

"Hello. May I speak to Mr. Smith? This is Chris Johnson
calling from XYZ Company" is usually a giveaway this is a
sales call. I find there are better chances of reaching my
prospect if I sound less formal.

I prefer to say, "Hi. Is John there? This is Chris."

Sometimes, I might even go for "Hi, John. This is Chris."

If it isn't John, I'll just say, "Excuse me, is John in?
This is Chris."

The familiarity would throw most people off-guard and they
would tend to carry on a conversation with you while trying
to figure out who you are. Most people would not want to
admit they don't recognize someone they know.

- Establish credibility

If you have any sort of referral, use it. It can even be
the person you just spoke to before the call was
transferred to your prospect. It may go like this, "I was
speaking to Susan in Marketing. She said I should talk to
you about ..." If there is information about the prospect,
do a quick research before the call. Never mind the "how
are you?" greetings. Just be brief and to the point.

- Create curiosity

You must be able to tell your prospect in two-three brief
sentences the benefits of your products. Mention some real
results to capture their attention. You will know your
sound bite works well if your prospect says, "tell me more."

For example, "Last year, the ABC fund of my company helped
over 1,000 investors like you to grow their investments by
25%. This was fantastic compared to only 5% interest on
savings and 10% return from the stock market."

An effective sound bite is client focused, and it
emphasizes product benefits, not features. This is the
essence of successful marketing. Always focus on the value
you can produce for your client. Is it in the best interest
of your client to purchase your products or are you just
trying to close a sale?

- Close confidently

If the prospect indicates interest to learn more about your
product, immediately follow through with an invitation to
the next step - either continue with your presentation over
the phone or make an appointment to meet.

For example, "We should meet. Only 10% of the funds was
able to achieve this kind of performance last year. While I
can't promise you the same results this year, I assure you
that it's worth your time. Is Thursday morning a good time
to meet with you?"

If the prospect is not interested, thank him for his time
and move on to your next prospect.

Practice your script. By reading the script aloud to
yourself or your friends, you will be able to spot places
where objections may arise. First, try to rephrase the
script to remove any possible objections. Next, prepare
answers for the objections. Being well-prepared is a
confidence booster.

Cold-calling need not make your work miserable. Masterful
cold-calling requires preparation, lots of practices and
social skills. It is not only a valuable asset for a
financial analyst but also an indispensable marketing skill
that can accelerate your journey towards career success.

----------------------------------------------------
Corinne Lor is a success coach for professionals in the
banking and finance industry. Visit her blog to read part 2
of Cold Calling: The Ultimate Sales Training
http://financialanalystblog.com

Canadian Real Estate Think Vancouver City

Canadian Real Estate Think Vancouver City
Overseas property buyers seeking a place to buy in Canada
need to have a good look at Vancouver. This city seems to
be the place for sound investment and relocation to Canada.
It has been rated as one of the best places to live, a 2007
report by Mercer Human Resource Consulting tied the city
with Vienna as having the third highest quality of living
in the world, after Zürich and Geneva. The good news
does not stop there a strong economy and a housing market
that is robust are other reasons why Vancouver is my tip
for the top

Vancouver has traditionally relied on British Columbia's
resource sectors: forestry, mining, fishing and
agriculture. It has diversified over time, however, and
Vancouver today has a vibrant service industry, a growing
tourism industry.

As United States and some Canadian real estate markets have
been hit by the slowdown in housing sales, Vancouver
continues to shine. While things might look to slow a
little, prices will still increase and the city in western
Canada expects to be doing a brisk business throughout this
year and into the foreseeable future.

The Canada Mortgage and Housing Corporation, which serves
as the country's national housing agency, is predicting an
8% increase in home prices for the metro Vancouver area.
That's in comparison to an 11% increase for all of 2007,
and will still leave the city with the highest prices in
the country. Evidence suggested that Vancouver house
prices are going to continue to increase

Vancouver is an attractive city to many people across the
globe, not just in Canada. Its moderate climate and
location on the water make it a nice place to live year
round, and many of the new home buyers are coming from
overseas. The current low US dollar has led to an increase
in buyers from Europe and Asia, where the currencies are
stronger. Additionally, western Canada is experiencing a
boom in its economy. High oil and commodities prices are
good for this part of the country, and unemployment is very
low.

Vancouver has a great future as it movie making reputation
grows, it has become the third-largest film production
centre in North America after Los Angeles and New York
City, earning it the nickname Hollywood North.

Many of the buyers in Vancouver are going after high-end
condominiums in or near downtown. There are many new condo
towers that are under construction, but four in particular
are doing much better than anticipated. These four luxury
hotel-condominium towers now under construction are the
Ritz-Carlton, Shangri-La, Fairmont Pacific Rim and Hotel
Georgia. They are getting prices of more than $3,000 per
square foot, compared with an average for downtown condos
of $725 per square foot.

With an attractive location, strong economy and many other
advantages, Vancouver looks to continue to be a hot market
for some time to come.

----------------------------------------------------
Author Nicholas Marr has a passion for international real
estate and has gained his unique perspective in his
capacity as director of the international property websites
at http://www.homesgofast.com and
http://canada.homesgofast.com

Get Credit Report information and credit questions on-line

Get Credit Report information and credit questions on-line
Your credit report is accessible 24/7 on the internet in a
few clicks. Equifax just released how the internet is a
great resource fore accessing anything about your credit.
The internet is amazing in regards to how you can get the
information you need to fix just about anything. You can
get recipes, commons household items, cars, credit cards,
insurance, mortgages, or any common question answered. The
internet is so powerful that you could actually stay home
and never leave using the internet to buy what you need.

The internet being the best channel for credit reports,
credit scores and getting free credit repair help, you can
rest assure you will have access to what you need securely
in a few clicks. If you want to access your credit report,
and did it the old fashion way, you would have to wait for
your report to come in the mail. I don't know about you,
but I know the mail is not safe anymore. You definitely
don't want anything with your social in the snail mail if
you can avoid it. With the security that has been implement
on the internet to get your credit report and credit scores
safe and securely.

Most people don't know how convenient the internet is. The
internet has revolutionized the way we all do business and
function in society currently. Let's assume you have credit
issues, and you don't know what to do. Most people will
search for credit repair sites. You will find that most
credit repair sites charge horrendous fees for something
you can do yourself for free. If you were to take the time
to do some research, you will find that with a little
credit education and implementation of what you learn your
credit will improve on its own. The internet is just like
your local library, it has all the information you could
imagine.

How easy is it to get credit report on-line?
Let's assume you are getting ready to buy something, or
just would like to know what your credit scores are.
Getting your credit report is so easy that a caveman could
do it. Typically when get your credit report you will need
to know your credit scores. Your credit scores will
typically cost you around $30.00 to have that piece of
mind. But it's worth having believe me. In a matter of a
few seconds with validating who you are, you will receive
your full 3-1 credit report. Pulling your consumer credit
report does not affect your credit scores by the way.

Credit Repair on the web
Let's assume you have credit issues, and you would like to
start repairing them right away. You can find all kinds of
articles about what the first step would be in the credit
repair process. With your credit being the single most
important part of your financial health, you can rest
assure the answer is on the web. In a few keystrokes you
can be reading an article that will pertain to your
situation. This is the power and resourcefulness of the web
today. Got questions about credit? Just Google it.

----------------------------------------------------
About the Author: Mike Clover is the owner of
http://www.creditscorequick.com/ . CreditScoreQuick.com is
the one of the most unique on-line resources for free
credit score report, fico score, Internet identity theft
software, secure credit cards, and a BlOG with a wealth of
personal credit information. The information within this
website is written by professionals that know about credit,
and what determines ones credit worthiness.