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Thursday, January 28, 2016

Give Yourself Credit!

"Ask the Debtbuster" Mike Schiano


What is credit scoring?

Credit scoring is a system creditors use to help determine whether to give you credit. It also may be used to help decide the terms you are offered or the rate you will pay for the loan.
Information about you and your credit experiences, like your bill-paying history, the number and type of accounts you have, whether you pay your bills by the date they’re due, collection actions, outstanding debt, and the age of your accounts, is collected from your credit report. Using a statistical program, creditors compare this information to the loan repayment history of consumers with similar profiles. For example, a credit scoring system awards points for each factor that helps predict who is most likely to repay a debt. A total number of points — a credit score — helps predict how creditworthy you are: how likely it is that you will repay a loan and make the payments when they’re due.
Some insurance companies also use credit report information, along with other factors, to help predict your likelihood of filing an insurance claim and the amount of the claim. They may consider this information when they decide whether to grant you insurance and the amount of the premium they charge. The credit scores insurance companies use sometimes are called “insurance scores” or “credit-based insurance scores.”

Credit scores and credit reports

Your credit report is a key part of many credit scoring systems. That’s why it is critical to make sure your credit report is accurate. Federal law gives you the right to get a free copy of your credit reports from each of the three national credit reporting companies once every 12 months.
The Fair Credit Reporting Act (FCRA) also gives you the right to get your credit score from the national credit reporting companies. They are allowed to charge a reasonable fee for the score. When you buy your score, you often get information on how you can improve it.
To order your free annual credit report from one or all of the national credit reporting companies, and to purchase your credit score, visit www.annualcreditreport.com, call toll-free 877-322-8228, or complete the Annual Credit Report Request Form and mail it to:


Annual Credit Report Request Service
P. O. Box 105281
Atlanta, GA 30348-5281

Wednesday, January 20, 2016

Strengthen your relationship with God starting today!

No matter what your situation. No matter how tough things have gotten for you personally or financially or physically, your life will improve by strengthening your relationship with God.


There is no question that the closer you get to God the better your life will get. You must make this decision today that no matter what is going on in your life you will thank God for the blessings he has bestowed on you and your family. God has amazing things planned for your life. This struggle you face today is but a stop on the way to wonderful, fulfilling events that God has planned for you. We cannot fathom all God has planned for us. He reveals it a little at a time so that we can manage it. And he will never give you more than you can handle.


You are a child of God and you are blessed. Understand this. Accept it and begin getting close to God by praying constantly. Thanking God for your blessings and anticipating all of the great things God has in store for you in the days and months ahead.


Whether you have never been close to God or if you have been close but have strayed lately due to your situation, you can renew that relationship and get closer than ever. Only God can lead you out of your tough times to the wonderful plans he has for your life.


Dear God, YOUR will, Not mine be done!
In Jesus' name.


God Bless you and keep you in the palm of his hand my friend.


Mike

Friday, January 08, 2016

This is YOUR year!

While others start 2016 with hopes and dreams of doing better financially, you should release your faith and expect big things to happen for you. Why? Because right now you can bring on a supernatural change to your financial circumstances with the power of strong belief that things will turn around in a positive way. No matter how long you've been under stress, you can overcome these circumstances and end this year much better off than you are right now.


Why should this happen to you? Because it is within you to make these positive changes happen. You have been ordained to succeed. It's your birthright. You live in the greatest country in the world where you can change your circumstances just as surely as the sun rises each glorious morning. But, it is also within you to remain in your negative situation. So many linger in a state of limbo waiting for something to be done to them to change their circumstance when they hold the essence of change within them.


This may sound way out and mystical to you but, believe me, you have the power of change in your grasp if you will only believe with full conviction and confidence that you can and WILL make positive changes to your financial circumstances. You also have within you the power NOT to change if you don't have confidence and conviction in your mind. If you never believe you can make a change...guess what, you will not make a change.


You and your family deserve so much more out of life. You have no limits on what you can accomplish except for the limits your own mind puts on your life. If you constantly think that you won't ever get out of debt, won't ever make more money, won't ever get a better job, won't ever pay off your credit card bills, you will get what you think you will get.


However, if you believe strongly that you and your family deserve more out of life. That you will get out of debt, that you will lend and not borrow, that you will get a raise, you will get promotions and better jobs, you will get what you believe.  What you think about you will bring to pass... positive or negative. So it hurts you to focus on the negatives all day. Instead, think positively about your situation. Even if your situation right not does not look all that promising, you should think about what it will be like when you own your own home, when you pay off your last credit card, when you get a bid raise at work, when you can afford a new car of your choice rather than the cheapest one you can find.


My friends, you may not realize how powerful your thoughts are. Everything starts with thoughts. Every great idea, every success, every inventions, every fortune started with positive thoughts. And you are just as capable of framing positive thoughts as you are negative. But, where do negative thoughts get you? I should ask, where have they gotten you because part of your problem right now may be your thinking!


Make your 2016 resolution to begin thinking positively about getting out of debt, increase, abundance, promotion, wellness, success and ultimately,  the very Happiness that you are seeking and are destined to have if you believe strongly and without doubt.


May God continue to Bless You and Your family this day, week, month and Year. Let's make it the best year ever...together. I am here to guide and support you the entire way.


Mike










Wednesday, December 23, 2015

Rich Dad' Author Tells Millennials: "Savers Are Losers"





As recently reported by CNBC, one of our true heros and a leader in financial education, Robert Kiyosaki, the author of financial best-seller “Rich Dad Poor Dad” has some unusual advice for millennials in his new book: Saving is for losers.

“You cannot follow your parents’ rules of money,” said Robert Kiyosaki, who this year published a new book, Second Chance: For Your Money, Your Life and Our World. “The old rules were you go to school, you get a job, you work hard, you save money and you invest for the long term in the stock market.”

But now, he says, the rules are now reversed. “Savers are losers. And many parents are still telling their kids to save money,” he told CNBC. “Why would you save money when every central bank is printing money?”
Indeed, Kiyosaki said he isn’t saving money. “When I was a millennial, I could get 15 percent interest on my money. Today, I’m lucky to get one percent,” he said. “I’m a debtor. I borrow because I’m in real estate. So I’m getting money at 2.5 percent. I just recently refinanced $300 million at 2.5 percent. So debtors are winning and savers are losing.”



Thank you for a wonderful year and May God Bless You and Your Family with Prosperity, Health and Happiness!

I'm Taking a little time off for the Christmas Holiday.

I do want to take a moment to thank God for Blessing me in so many ways and giving me the ability to make a difference in the lives of so many faithful and deserving people.

I've been working on some very exciting things that I will share with you in the new year. This big news will give you and so many others a huge boost in your ability to pay down your debt!
I'm very excited and I can't wait to share the news with you. But, all in due time. For now, let's enjoy the reason for the season, the birth of Jesus and his saving grace for our world that so desperately needs it.

To all of our faithful students and followers, we wish you and your families the most
       Happy Holidays and a very Joyful New Year!

Mike Schiano


"For the LORD your God will bless you, as he promised you, and you shall lend to many nations, but you shall not borrow."  Deuteronomy 15:6

Monday, November 16, 2015

You’ve been Pre-Approved ...to apply!


Nice try credit marketers...but no thanks.
You should know that when we talk about reading every offer carefully and looking for the “between the lines” meanings of marketing offers, we are talking specifically about terms such as this.

Note, the marketer is using the term “you’ve been pre-approved,” or, sometimes they use “you’ve been approved” to apply. The key words are “to apply.” So, while you’ve been pre approved, you still must apply just like everyone else who has not been approved.

It is simply a marketing trick to get you excited and insinuate that you have some special status when, on the back of the piece you’ll see the magic get off the hook words “if your credit history is verified as acceptable,” or “if your credit meets the criteria for this offer;" or some other term that basically says you must qualify based on your Credit Report and Score.

There is nothing special in this offer except it is an offer to apply for credit or a loan of some type. Don’t be fooled by buzz words. Folks who've been turned down for credit a lot get very excited when they see the words: “You’ve been approved.” Don’t get too excited about applying for credit.

These techniques are generally used to target people who are struggling with debt and most of these marketers are looking to prey upon unsuspecting folks who simply think they can borrow their way out of debt. Don’t make another financial mistake. If you receive an offer and you aren’t sure if it is a legitimate offer, let us see it and we’ll coach you on whether it is something you should pursue.

We’d love to see some of the Marketing Buzz Words lenders are sending you. Email them to Mike@mikeaboutmoney.com
See you in the Money Pages!!
Mike

Saturday, November 14, 2015

The price Paris and the World must pay

Vive le France!


A time to stay strong and a reminder that Terror knows no bounds and civilized people everywhere are at risk, especially in high profile, democratic strongholds around the world.


My Grandfather was born in Paris so I feel the sting of this cowardly attack on a place I identify with in part as a homeland. I wonder what he would think of this news? How would he react. Having lived through two world wars, the Korean War and Viet Nam, perhaps he might not be so shocked. He would be angry though, as we all should be. He was a man of peace who believed in working hard and building a successful life. He would have no tolerance for those who wish to destroy the world around them.


The price of terror is very expensive in resources, riches and lives but I pray that leaders worldwide have the courage and the wisdom to do what is necessary to help us navigate, somehow, to a more peaceful world.


My God bless the victims of this attack and hold their families in the palm of his hand during this time of mourning and loss.


I pray for our world and know people of peace and goodwill can and will prevail in this conflict between good and evil.


Mike 

Friday, August 21, 2015

Financial Success is within your reach!

Financial Success is the direct result of taking the right actions, the right way, at the right time for the right reasons. Understand this and you can take on financial issues with confidence. Just discover what the right actions are and do them. Your success isn't limited by past mistakes -- but by your willingness to take the right actions right now!

 
If you have no confidence in your ability, you won't even try. But, if you're committed to do whatever it takes until you get it right -- you will eagerly proceed with the confidence to succeed.

 
Key steps to success:
  1. You must commit to learning the right actions to take given your current situation.
  2. You must discipline yourself to focus on learning at least 30 minutes each day.
  3. You must then use what you've learned to take action steps. 

Sunday, August 09, 2015

Manage your money properly for future generations

We all tend to be extremely focused on today and don't spend a great deal of time thinking about, or planning for, the future.


Experts point to our need for instant gratification which makes it difficult for us to think about next week, let alone the next twenty or thirty years or more. That is why car dealers focus on the monthly payment rather than the total cost of the car when trying to make a sale. They know we are thinking only about the short-term cost of getting what we want.


It is a key reason why so many people are deep in credit card debt because it was easier to think about getting the items they wanted that day by borrowing at high interest using credit cards, even if they couldn't really afford the expense, versus taking a long-term approach, delaying the purchase until they could save up for it, in order to avoid high interest costs.


Lack of proper financial planning for the future can lead to many problems including the need to rely on high interest borrowing to pay for things that we didn't plan to buy when we had time to save well ahead of the need. Retirement is one of those important areas where a majority of people simply fail to properly plan for their financial needs. It has been reported that 75 million people do not put any part of their annual household income toward retirement.


Right now, while you are in the heat of financial problems, it's even harder to think about the future when you are just trying to get through each day.


Difficult or not, it is very important to plan ahead and manage money for the long haul. Modern medicine and healthier lifestyles will lead to longer lives in retirement which will be expensive. Parents must provide for their children for at least eighteen years and, likely, longer than that. So those are two very good reasons to plan your finances beyond what you need to buy today.


And, as a bonus, taking the long view does some important things for you:


-Long term thinking makes you think more in depth about your financial goals and how you will attain them. You'll think more about your future lifestyle, where you will be living in 20 years, and how much you will need to earn in the future to live the lifestyle you envision. When we go on a trip, most people reserve a hotel room in advance so they have a place to sleep when they arrive. Start envisioning your living arrangements 20 years from now.


-Long term planning helps you realize all of the expenses you will be responsible for in the future. Food, cars, medicine, and so many other expenses don't disappear in the future. They only get more costly.


-Long term planning helps you avoid overpaying for purchases today which will require you to borrow at high interest rates. You should take a more patient view about buying things you want today. Remember, there is a difference between "wants" and "needs." You may "need" a car but you may "want" an expensive luxury car. Even if you can afford the monthly payments for the luxury car, long-term planning will force you to think about the total cost of buying or leasing the more expensive vehicle, and what effect it will have on your finances years from now.


-Long-term planning will empower you because you will feel more in control of your financial future.


-It will give you confidence to make other decisions in your life. Financial empowerment leads to a more confident overall approach to life in general. When we feel out of control, like when collectors are calling our home night and day making threats, we tend to make mistakes under the stress financially and otherwise. That is why personal relationships and marriages can get damaged under the stress of financial problems.


Your financial responsibilities go way beyond the present. To minimize financial mistakes the next time you are contemplating borrowing or spending money, think about where you'd like to be financially five, ten and twenty years from now.


Take Action! Sit down and start by writing some very specific financial goals for the next six months and twelve months.

Thursday, July 30, 2015

Are you ready for the Holidays?

I know what you are thinking...Holidays...I'm thinking about all of the back to school costs that are coming up How in the world can I think about Holiday spending? Part of how we will help you is by moving your "Spending Timeline" forward so that you can get ahead of all your anticipated expenses that can be planned for.


One of the key reasons families fall into the Debt Trap is because they are not planning ahead. Most last minute expenses go onto credit cards. Think of emergency expenses like car repairs and broken washing machines. How do families who are in debt pay for those since they likely don't have cash available. Of course, with credit cards.


The key here is to understand that you have ultimate control over your expenses and personal finances but getting ahead of anticipated expenses and planning for them well in advance is key to avoiding adding more credit card debt.


We will give you step by step help with this planning process so stay tuned for more to come on this very important subject.


Remember, unlike the others who say they are there to help you, we don't work for the credit card companies. We are your true advocate. Let us help you!


Mike
The DebtBuster!

Wednesday, July 29, 2015




 

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The secret to getting to your peak zone of positivity lies in the ability to focus your attitude in a consistent and conscious manner. When you're able to focus in a routine manner, you create the basis of a happy and productive life. People who learn to control inner experience will be able to determine the quality of their lives, which is as close as any of us can come to achieving our peak zone of positivity.

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If you're climbing out of debt, you go rung by rung, one step at a time. Don't look too far up, set your goals high but take one step at a time.  Sometimes you don't think you're progressing until you step back and see how high you've really gone.