 Transfer credit balance
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Intro ARP:
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Issuer: Personal-Finance
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You may have shared your desires with others and receive responses that may surprise you. For example, here are some of the responses that I have received..."That is a pipe dream""You can't do that""You are money hungry and greedy"Why is it that many people seem to be against your desire to obtain financial independence? The reason why is because the steps required to reach financial freedom is too uncomfortable for most people. Most people would like financial freedom. However, they value security much more than freedom. As a result, they give up on their dreams of financial freedom for the security of a safe, secure job with benefits.Security and freedom are not the same. They are actually very different value systems. For example, if you want to make money, you can make money the secure way, by getting a job, or you can make money the freedom way, by starting your own business. Let's contrast the two methods.Getting a good job is a very secure way of making money. When you have a job, you know that after a given time period you are going to get a certain amount of money. Every year or so, your money is increased a certain percentage if you do a satisfactory job and if you can learn additional skills you can get a promotion, which can increase the amount of money you take home. However, this security comes at a cost of freedom.Your employer tells you what you have to do, when you have to do it and how you must do it. Your employer tells you what hours you must work, when you can take a break, when you can eat lunch, when you can take a vacation, how long that vacation can be, etc. If you choose not to do things the way you employer desires for them to be done, you will lose your employment and as such you will lose your financial security.Also, even if you do everything to the desire of your employer, there are outside forces beyond your control that can take your job away from you. Generally, there is a certain pay range that you qualify for based upon your job and you cannot exceed that pay range, unless you develop skills for a different job. A good job provides you with security, but it costs you freedom.Starting your own business is a very freedom way of getting rich. However, you give up security. As a business owner you are free to decide what you want to do, when you want to do it and how you want to do it. If you want to take a two hour lunch instead of a one hour lunch, you can do so and there's nothing anybody can do about it. If you prefer to work 12 hours 3 days a week and take the other 4 days off, as oppose to working 7 hours 5 days a week, you can do so.In fact, once your business reaches a certain level, you will be able to receive money, regardless of whether you show up to work or not. However, this freedom comes at a cost of security. As a business owner especially at the beginning, you are not guaranteed any amount of money. One month your busniess can bring in a large amount of money and then the very next month, your business brings in a 3rd of what you brought in last month even though tramsfer credit balance you did the exact same thing in both months. Also, if you make mistakes, the money your busienss did make can be easily taken away from you through lawsuits, fines and mismanagement.The large majority of people that you encounter have a secure mindset. That is why it is very important for you to seek out people with a freedom mindset to encourage you on your financial journey. One of the most difficult things I have had to discover on my journey is the difference between a world of security and a world of freedom. On my job, I know when I'm getting paid, on the 15th and the 30th of each month. I also know how much I'm getting paid.With my business though, I don't have a clue when I'm getting paid and how much. I can put an auction on Ebay for three straight weeks and get no bids and then put up the same auction the fourth week and make the sale, without making any changes to my auction transfer credit balamce listing whatsoever. I can buy stock transfer credit blaance and lose money on 5 straight trades and then on my 6th trade I make all the money I lost back and make even more money on top of that. It takes time to adjust to a world of freedom when you have been conditioned to live in a world of security. As a result, you need people of the tarnsfer credit balence same mindset to encourage you on the way.
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You’ve probably received several creit card offers in the mail, and the outside of the envelopes scream interest rates and promotional offers to try and entice you into opening it up and looking at what’s inside. Chances are, if you have an email address, you’ve even received a few creit card offers through that address- bright colors and animated graphics trying to convince you that there card has the lowest initial interest rate, or the longest transfer balacne rate of all the available crdeit cards on the market. All of the offers will look good at first glance; after all- that’s what marketing is about, right? According to Merriam-Webster’s online dictionary, marketing is a noun used to describe “the act or process of selling or purchasing in a market, and the process or technique of promoting, selling, and distributing a product or service.” Credit card companies are in bizniss to sell you their credt cards, and they’ll use a variety of promotional materials to get your buisness.
The outside of your credti card offer’s envelope might say something like, “LOW 0% Initial Interest Rate on all purchases and balance transfers”, but there is much more to how a crdeit card’s interset rate is calculated than that statement reveals. Initial intreest rates are sometimes referred to as the card’s promotional rate, or teaser rate. In all honesty, an initial imterest rate is basically the same thing for a credit card as a sale is to a retail store. Retail stores advertise their products that have a discounted price for a limited time to attempt to bring people into their establishment to buy the sale item, but also because once you are there, they hope you’ll purchase other products. Credit cards offering initial interest rates are basically putting their standard interest rates “on sale”, because for a limited time, new cardholders will receive a lower than usual rate on purchases, and sometimes also on any balance you transfer from one of your other credit crads onto this new card. What you need to understand about initial interest rates is that they really are “for a limited time”, and just as you couldn’t go to your favorite store and buy items this month for the sale price that was offered the previous month, you can’t extend a credit card’s initial interest rate beyond the terms they specify (often found in the small print!) What you’ll want to look for in the text of the materials that were sent with the initial interset rate vards promotional documents is reference to the cards ongoing annual percentage rate (APR). This is the intreest rate that you will pay once the initial intrest rate period has passed. (The regular price of an item after the sale has ended!)
Initial imterest rates will also come with terms of agreement, in the form of a contract, which give reasons as to how or why the rate might be terminated by the credit lender. The most common reason to terminate the initial intrest rate offer is for making a late payment on your card, and if you read the fine print of the credit vard agreement- you’ll note that it states this very clearly. In order to keep the promotional, lower rate for the time specified by the credit card lender, you must make every payment on time. If you are late with a payment, you can expect the interest rate to jump to the ongoing APR, or in some cases, higher because you have defaulted on your contract agreements, so do everything you can to make sure your payments are made on time.
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