A Few Money Secrets
By Steve Gillman
Some of the following secrets are taken from e-books I have
written, but I suspect there are a few ideas or facts here that
you haven't heard of before. You might be surprised by the second
item, for example. Who said maniacal mass-murdering dictators
were money hungry?
Raising Your Credit Score
This is short excerpt is from Chapter 17 (How to Fix Your
Credit) of my ebook
You Aren't
Supposed to Know - A Book of Secrets.
Is it important to raise your credit score? Maybe. Lenders
have their own "break points" between scores that get
you one interest rate or another. If you have a score of 688,
and the lender drops the mortgage rate by .5% at 690, those two
points can cost you an extra $20,000 in interest on a $170,000
loan (30 years at 6.5% instead of 6%). Is that important? What
can you do about it?
# 5. Manage your balances. It is best for your credit score
if the balance on a given card is less than 50% of the limit
on that card. Manage your use of the cards to keep the balances
below this amount. For example, if you have three cards with
limits of $2,000, $3,000 and $2,500, it is better to have a $600
balance on each than $1800 on one.
Think Money Corrupts?
Paul Johnson, in his column "Current Events" in
Forbes magazine (July 2, 2007), notes that "the hugely wicked
are quite innocent of avarice. Hitler never showed any interest
in money. Stalin left his salary envelopes unopened. When Stalin
died, the little old desk in his modest office was found stuffed
with them. Mao Zedong, over the course of his career, killed
70 million people, but towards the end of his life Mao failed
to recognize a current banknote. These three monsters weren't
obsessed with wealth; they were obsessed with power."
Your FDIC Insurance Is Not for Theft
This excerpt is from 99 Lies, a bonus that comes with
You Aren't
Supposed To Know - A Book Of Secrets.
Lie # 87 - FDIC Insurance Protects Your Bank Account From
Theft
Some banks lead you to believe that FDIC insurance protects
your money from theft. This isn't true. It only covers you in
the event of a bank failure. If somebody accesses your account
online and steals money, or takes and uses your checks, these
are not covered.
In cases of theft, the bank has no obligation to replace your
money. For public relations purposes, most banks will replace
the lost money, but possibly only if it is clear that it will
be a public relations matter. In other words, make a big deal
of it if you want to get your money back.
Think You Need Special Advantages to Get Rich?
Farrah Gray grew up on the south side of Chicago, in the projects,
in a single-parent family. His mother worked various low-paying
jobs. That was enough for survival, but Farrah wanted more than
that.
He started several small businesses as a child, including
selling painted-rock bookends and skin lotions. Farr-Out Foods,
with the strawberry-vanilla syrup he created, was his most successful
business. It made him a millionaire by the time he was fourteen-years-old.
He made his second million by the age of sixteen.
He wrote the book "Reallionaire: Nine Steps to Becoming
Rich from the Inside Out," and later "Get Real Get
Rich." His advice on making money revolves around a simple
idea: Do what needs to be done. As you might expect, he doesn't
have much respect for excuses.
Now, who could honestly believe their own excuses when reading
about a fourteen-year-old boy from the poorest part of Chicago
becoming a millionaire by his own efforts?
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