How to Protect Your Mortgage Against Potential Job Loss

By: Patricia Payne

Are you one of the millions of Americans who fear that company cutbacks may cause you to lose your job? With the national unemployment rate at the highest in 26 years, touching 8.1% in March of 2009, it is expected that millions of more Americans will lose their jobs this year before the economy gets better.

Though you may not be able to predict the stability of your job, what can you do now to protect your income and mortgage if a layoff occurs for you?

Contribute to Savings

Many individuals and families with good jobs and a mortgage do not have an emergency savings account set in place. What a tragedy that can be if a sudden loss of regular income occurs! To protect yourself and your family from a financial crisis, you should have a savings account set up with at least three, and ideally six, months of living expenses. That means you should look at your monthly budget and determine what basic costs you will incur, such as your house payment, groceries, car payment, etc.

If you have a little savings or no savings at all, start now. Open a savings account at your bank that you contribute money into each month. The more you can cut back now and put into savings, the better you will feel if you are suddenly laid off from work.

Buy Mortgage Insurance

Mortgage insurance is available that can help you pay your mortgage while you are unemployed. However, don?t confuse mortgage insurance with Private Mortgage Insurance (PMI). PMI is a type of insurance you may be required to pay for each month with your regular mortgage payment. PMI protects your lender and pays them the balance of your loan in the event you default. This is for the sole benefit of your lender and doesn?t help you prevent foreclosure.

Find an insurance agent that sells mortgage insurance. The type of policy you need is one that will take over all or a portion of your mortgage payment should you become disabled or find yourself unemployed due to layoffs. Premiums may be high, but the alternative could be a more expensive foreclosure if you are out of a job.

Find a Layoff Insurance Program

Many financial groups in many states offer ?layoff insurance.? This type of income loss protection can help you pay your mortgage if you become financially unable to meet your mortgage obligation. However, you will usually be required to pay premiums for at least six to 12 months before you can file a claim. There may be other restrictions as well, such as a cap limit on the amount that the group will pay each month (i.e. meeting the principal and interest payment only and no tax escrow), and a limit on how long they will make your payment.

Groups that offer this benefit are not insurance companies, and thus, are not regulated by state insurance commissions in terms of financial reserves. Beware of groups who offer this type of benefit but are financially unable to pay claims.

This article is intended for general information. Always seek sound financial and legal advice before making any financial decision.

Article Source:
http://www.articlecity.com/articles/business_and_finance/article_9887.shtml

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Superior Leader - Warren Buffet

By: Michael J. Spindler

Superior business leader and American investor Warren Buffett is often called ?Oracle of Omaha? or the ?Sage of Omaha? and philanthropist. (Wikipedia, 2007) Buffett is the CEO, and the biggest shareholder of the Berkshire Hathaway Company. Buffett?s has an estimated current net worth of approximately $52 billion in US funds. Forbes Magazine ranks Buffett the third richest person in the world in September 2007 behind Carlos Slim and Bill Gates.

Warren Buffett is known for his economical and plain lifestyle. Buffett still lives in the same Omaha, Nebraska house that he purchased in 1958 for $31,500 with a current value of $700,000. In 1989, Buffett spent $9.7 million of the Berkshire?s funds on a corporate jet. He jokingly named it ?The Indefensible? because of his past criticisms of such purchases by other CEOs. (Wikipedia, 2007)

Warren Buffett decided to make a commitment to give his fortune to charity back in June 2006. Buffett?s charity donation is approximately $30 billion, which is the largest donation in the history of the United States. The donation was enough to more than double the size of the foundation with 83% of it going to the Bill and Melinda Gates Foundation. Buffett believed that his family had enough money to get started in life so Buffett decided to give his fortune to charity. Buffett?s annual salary in 2006 was only $100,000. In 2007, Buffett was listed among Time Magazine?s 100 Most Influential People in the World. (Wikipedia, 2007)

What makes Warren Buffett a good business leader? This is what everyone wants to know because Warren buffet is so successful. It all starts with leadership. Warren buffet is a true leader where his leadership makes a difference in the world. Leadership is very much related to change and Warren Buffett has the capabilities of leadership change to fit the changing world. Warren Buffett has repeatedly demonstrated the ability to map read in the irregular waters of change. Is Warren Buffett born a leader? The authors of this paper believe not. Experience and research has shown little evidence that an individual who comes to power is a ?born leader.? Warren Buffett took the falls that any other leader has to take. Warren Buffett learned from his mistakes and turned his mistakes into a positive thing. Warren Buffett shares his leadership at all organizational levels and Buffett is empowered to share leadership responsibilities. In the world of business, many titles related to leadership roles are actively used in business and Warren Buffett wears those titles to make him effective in multiple leadership positions in business. Distinction between good leadership and good management is made often. Managers are made to be organizational, controllers and budgeters. Warren Buffett has leadership in all three departments and one must have these traits to be a good business leader.

Another important trait in Today?s business leadership is communication. Warren Buffet is a skilled communicator in all aspects of life. Communication is the real key of leadership. Skilled communicators have an appreciation for positioning in the business world. Warren Buffet is experienced at positioning himself at the right place at the right time. Warren Buffet has the understanding of the people he is trying to reach and what he can and cannot hear from the people. Knowledge of audiences? needs and wants gives the orator the ability to listen. Warren Buffett is an excellent listener with the ability to convey his understanding.

When Warren Buffett talks, people listen. Warren Buffett can send a message through an open door and does not have to push the message through a wall.

Leadership is crucial to any successful business and good leadership is what Warren Buffett is all about. This is what makes Warren buffet a good business leader.

Mr. Warren Buffett?s investment strategies and course of leadership are shining examples of characteristics shared by cognitive theorists. Cognitive theory is an approach of explaining behavior through perception, anticipation, and thinking. Mr. Buffett?s continual approach of analyzing both possible investment choices, market trends, and the ability to place management resources of the right caliber in the right position has consistently brought this investor to the forefront amongst peers and the marketplace. At the core of every sound investor is a creative innovator.

Innovation demands creativity. Creativity in turn draws on our cognitive faculties, across the full amplitude from emotion to reason. In the number-heavy world of global investing, innovative thinking is critical. Innovative investors decipher future trends, spot likely winners by combining science (financials) with art (acuity and perception) and continuously mitigate risk. They assess user needs, product features, the proper deployment of money, professional organizational structures and risk management. (Kore Kalibre, 2006)

Mr. Buffett?s instinct and ability to interpret market trends is also held by tight reigns. Despite over 50 years of growth, Mr. Buffett always adheres to one of the most basic business principles: ??only compete where you have a competitive advantage. Warren Buffett refers to staying within your circle of competence. Social psychologists tell us, though, that we are prone to overconfidence when it comes to assessing our abilities?? (Arthridge, 2006) A man of Warren Buffett?s position and track record could easily be derailed to a sense of over confidence. The principle of only competing within your range of competitive advantage is a principle that can be applied to many other areas in life, and Mr. Buffett?s ability to work and live by this idea has allowed him to continue forward with minimal bruising.

By establishing the previous examples, the authors can reinforce the principles of cognitive theory in that Mr. Buffett behavior patterns are clearly dictated by thought processes, which include interpretation, analysis, and foresight. ?As experiences and events gain meaning and value, the process becomes increasingly top down as the mind in (a) attempt at an orderly process influences perception though beliefs, goals and external process? (Gardener, 2007)

Warren Buffett?s is a self empowered leader, because he is loyal, sets goals, plans a strategy for achievement, and stays committed until he accomplishes his purpose. Up to date, he is the greatest stockbroker of all-time. He is a very conservative investor that prefers to invest in companies that sell name brand products that he uses. For example, Coca-Cola, Gillette Razors, See?s Candy, Gulfstream Jet, and GEICO are the major companies he invested in. In the nineties his assets quadrupled in less than five years. He is a smart investor that usually does not take big investment risks. For example, he will not invest in internet stock, because the return is unpredictable. He likes to invest in companies that he is sure will be successful 20 years later. He buys the company with the intentions of keeping it forever. Usually, the management team of each company is the same staff that sold it Warren Buffett from the beginning. He stays loyal to his partners, and the team workstheir best to keep him happy.

After Warren Buffett?s wife died, he decided to donate 85% of his money to charity. However, ?he wants his money to be used the same year he donates it?.(Harris, 2006) The requirement will accelerate the process to help the world. According to Fortune magazine, five-sixths of his money will go to the Bill and Melinda Gates Foundation. This foundation which focus on finding cures for diseases that are common in poor nations. The rest of the money will be split among four other charities, that are each run by his three children and one that is in his late wife?s name.

Warren Buffett is not a huge spender. In fact, he still lives in the same house he bought 40 years ago. Warren ?told ABC News ?Nightline? that being born into wealth did not entitle his children?(Harris, 2006). In addition, he told Fortune magazine that, ?A very rich person would leave his kids enough to do anything, but not enough to do nothing.?(Harris, 2006) In other words, he wants his children to work earn their money and value hard work and smart choices.

In the year 2006, Warren?s first annual donation to the Bill and Melinda Gates Foundation was $1.5 billion and the rest was divided among the four charities. He was the first person to make a donation better than Bill Gates, the richest man in the world. It seems as if Bill Gates and Warren Buffett set a good example and lead others to be more generous, because now the Barron Hilton has committed to donating half of his fortune to charity also. Barron Hilton is the founder of the Hilton Hotels and is worth $2.3 billion. Hopefully, a trend started among the fortunate to give to the less fortunate.

The personality of Warren Buffett ties to the Social Cognitive Level, because he tries to understand and make sense of other people. He observes the differences in social knowledge when dealing with people. Social cognition refers to making sense of ourselves, others, and how the information is used. In the sixties and seventies Albert Bandura and Walter Mischel were psychologists, studying personality development. They found that social learning and cognitive principles improve ones abilities to self-regulate and to follow goals. Warren investment choices were successful, because he conditioned his the way he processed information, choices, and expectations.

References - DO Not Strip References!

Gardener, J. (2007). Cognitive Behavior Theory. Retrieved December 26, 2007, from http://www.cognitivebehavior.com/theory/index.html

Harris, D. (2006, June 26,). Warren Buffett’s Unprecedented Generosity. Retrieved December 31, 2007, from http://abcnews.go.com/print?id=2118501

Kore Kalibre (2006, March-April 2006). Warren Buffett?s Innovation: Staying away from Rapid Product Innovation. Retrieved December 26, 2007, from http://www.korekalibre.com/index.php?option=com_magazine&task=show_magazine_article&magazine_id=26

Legg Mason Value Trust (2006, October 26). Legg Mason Value Trust (LMVTX) Letter to Shareholders. Retrieved December 26, 2007, from http://markets.kiplinger.com/kiplinger?GUID=323448&Page=MediaViewer&Ticker=LMVTX

Wikipedia (2007, December 25). Warren Buffett. Retrieved December 18, 2007, from http://en.wikipedia.org/wiki/Warren_Buffett

Article Source:
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Growing the Creative & Conscious Business with Ease

By: Kathy Esper

Owning your own business is a challenge in its own right, and growing one that thrives in our current environment is even trickier. Those who are sowing the growth of their business in the traditional sense are getting stuck and creating not-so-desirable results. The practices that worked yesterday are not standing up in this new paradigm we find ourselves in. We see evidence of this in the breakdown of our society’s major systems, including, but not limited to traditional business.

From the systemic perspective, we consider the current breakdown to be an indication of what needs to happen next, pointing us in a new direction. Many thought leaders, including myself, feel very optimistic about this time we are in. The question is, will your business be able to create the breakthrough, to make lemonade out of lemons?

My work is very non-traditional, emergent and pioneering. For you to find your way here says a lot about who you are and your inherent potential. Simply because you found your way to this report, I believe YOU CAN CREATE THE BREAKTHROUGH necessary to Grow your Creative & Conscious Business with Ease. You can if your commitment is authentic.

In order to do so, you need a couple of things:

* (Conscious) Context - some background information, to help you understand what’s happening in the big picture

* (Creative) Authentic Commitment - to develop new skills - leverage uncommon tools - ignite internal and external inspiration - infuse true growth in your business.

Providing the Conscious Creative with this all-important information compelled me to write this report for you.

Reading this information, and transferring it into your business will open new eyes through which to see your world (invoking deeper Consciousness), and inspire new actions (igniting fierce Creativity) through which to experience that world. Are you ready, because here we go!

The All-Important Context You Need to Know

To put things into context, the bigger picture you need to be Conscious of is that our world is experiencing a paradigm shift. The way we conduct business and relationships is literally changing, as is evidenced in the breakdown of major systems (including business, political, marriage and social) in our society. What worked yesterday, is no longer working today. The bigger picture is that our Creative faculties, which have been suppressed, minimized, or ignored, now are being called forth in order to experience success in the new paradigm.

Global thought leader Michael Beckwith has called this a “birth” quake, because we’re giving birth to a new way of life, and a new way of conducting business. Those who are developing their Creative & Conscious faculties are leading the way in this paradigm shift, and they’re experiencing healthy growth in business that is not only sustainable, it continues to get better and better.

What is Really Happening This paradigm shift taking place is significant. Creative & Conscious business owners are experiencing explosive growth, indicating our movement out of the Information Age into what I am calling Creative & Conscious Age.

Think of this name as a working title, expressing this exciting and challenging time, where individual and collective inner and outer paradigms are shifting. It’s a bumpy ride, much like what people experienced in the transition from the Industrial Age into the Information Age. It is the people who are attending to and exercising their Creative & Conscious faculties who are leading the way and thriving through this transition, which is why I am here to help you develop those faculties.

The purpose for sharing this context with you is not to have you unconsciously jump on the bandwagon–which wouldn’t be creative by the way–but rather to help you get clear on YOUR Creative & Conscious role in the emergence of this new paradigm.

The Subtler Shift During the shift into the new paradigm, if you’re not growing your business effectively, you are most likely getting caught up in the “knowledge” and the “doing,” choosing and acting unconsciously, and suppressing the power of your Creative faculties.

Because the focus has for too long been solely on the bottom line, what’s happening now is we are in the process of moving o back to mutually beneficial value, and trusted relationships in business. As we do this, we need to be financially responsible, however, profit is not the only intention we have for our businesses, and it is not accomplished unconsciously.

As we move out of the old paradigm, where the meaning of relationship has been diluted, I believe that much of the systems breakdowns happening are a direct result of the breakdown of relationships, both personally and professionally. You see, relationship is intertwined with every aspect of our life, including our business. It is the essence of creating consciously, and the quality of our professional results is a direct reflection of the quality of our relationships.

When you are making choices creatively and consciously, you are more aware than ever of your power to create quality experiences for yourself and those around you.

Identifying the Creative & Conscious Business For years, I have boldly stated my fierce belief that Conscious Creatives fill the most significant role for our society and where we’re headed. They are truly the leaders in the new paradigm, and we are seeing that leadership expressed through the tremendous growth of the Creative & Conscious business.

So how do you know that you have a Creative & Conscious business? Do you want one? How do you build one?

Now that you understand the context of what is happening in the environment and your place in it, let’s look at some of the qualities that characterize the Creative & Conscious business.

You need to have both the Creative and the Conscious present in your business to succeed in this new paradigm. First, you want to be Conscious about what’s happening in and around you and your business.

It takes great courage to be aware and Conscious when you’re looking at your situation straight on, and challenge the assumptions and limiting beliefs that have up until now, held such a tight grip on you. It is often said that the radio is playing, whether you’re tuned in or not. When you have the discipline to develop the faculty of “tuning” in, you are rewarded big.

The Creative piece is the active piece, and it is the Creative instinct that unlocks your potential. Many Conscious business owners will go very deep into the reflective states, and do not take the proportionate or right action necessary to create new results. Consider for a moment the essence of creating. It is doing. If you are not in action, you’re not really creating.

It’s important to be connected to “why” you are doing what you are doing though. Creative business owners can make the mistake of “doing” unconsciously, and this does not work either.

The key is to develop both your Creative and Conscious faculties, and to have them work in partnership. It’s very much like the breath in and the breath out. One does not work without the other.

You are now more Conscious than you were when you started reading this report, because you have the context of what’s happening in the bigger picture, and you’re ready to Creatively discover how your business uniquely fits into that context.

Copyright (c) 2009 Kathy Esper

Article Source:
http://www.articlecity.com/articles/business_and_finance/article_9825.shtml

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Unsecured Loans: Provides Monetary Assistance To Fix Problems

By: Simon Taufel

If you are not in a position to offer an asset to avail loans, it is not at all a matter of great concern. Nowadays, there are lots of options available in the financial market. One such loan option is secured loans. These loans can be acquired without placing any collateral. The amount obtained under these loans can be used for home refurbishing, wedding, purchasing a new car or bike or consolidating debts.

These loans are a type of personal loans which offer smaller amount for a short term. These loans are offered without any collateral. This allows borrowers like tenants and non homeowners who do not have any asset to access these loans. Asset owners too who are reluctant to offer their valuable property as collateral can also apply for these loans. It allows the borrower to avail loans in a risk free environment.

Lenders before advancing the amount, takes certain things in to consideration. For instance, the borrower?s monthly income, employment proof, credit record, repayment capability etc are looked upon by the lenders. This is why documents like income proof, bank statements etc play a crucial role. The amount borrower can raise through these loans is in the range of £1000-£25000. These loans have a short repayment duration that falls in between 6 months- 10 years.

Without any involvement of collateral and a short repayment period implies, that the lenders have to undertake a huge risk factor. This is one chief reason why lenders offer these loans at competitive rates.

Borrowers who are having a history of bad credit problems such as CCJs, IVA, arrears, defaults etc can also apply for these loans. To do so, borrower has to convince the lender that he is capable of repaying the borrowed amount which can be done by showing his income and repayment capability.

Although, these loans can be sourced from traditional lenders, it is the online lender which is known to offer a large number of options. Because of the presence of large number of lenders and stiff competition, borrower can avail these loans at cheap rates.

With unsecured loans, borrower can avail finances without attaching any collateral to fulfill their various needs.

Article Source:
http://www.articlecity.com/articles/business_and_finance/article_9770.shtml

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What Does RICH Mean To You?

By: Paul Mara

Have you ever been asked that question?

I was!

Back in 1979 while doing a ?pressure cooker? course on selling with an insurance company!

I wondered how relevant that question was, considering my personal and financial situation at the time.

No wife!

No job!

I was a solo dad with three children, one of them a baby less than a year old.

?You must be kidding?, I thought to myself at the time!

What relevance can that have to me learning to sell insurance policies?

How naive I was!

The course that followed had an unbelievably positive and a life changing effect on me. Although it only took affect several years later. The seed had been sown!

You?re probably saying to yourself, ?How can a course on selling life insurance have that much effect on anyone??

Well that Insurance Company was the one created by W Clement Stone.

I found the course to be very challenging, because in New Zealand at that time we weren?t really aware of the ?Hype? that Americans used to motivate their workers to perform at their optimum. It pleases me each time I think about it now, to know that I passed, top of the class and received a book as a reward, this book was already a best seller, but I?d never heard of it.

Success Through a Positive Mental Attitude, of which W Clement Stone was co-author with Napoleon Hill. They shared their secrets on becoming wealthy and having a healthy, productive lifestyle, utilising the power of a “positive mental attitude”. Sadly my motivation and my persistence waned and I stopped selling insurance.

I kept all the information, studies and the book I had won.

The ?BOOK? Success Through a Positive Mental Attitude, which I never opened or read for probably 3 years.

However I did continue two very positive things! I continued to read on a daily basis some of his quotes and I even put them on the wall. My two

favourites were;

?Success is achieved and maintained by those who try and keep trying? and

?Whatever the mind of man can conceive and believe, it can achieve?.

The second thing and the one which I believed the most important was ?Goal Setting? I enjoyed the challenge and had learned enough during the course to

realise its long term value.

Life began to take several steps in the right direction not major ones, but positive ones.

Several important things happened in my life over the next 12 years.

Around 1981-2 I began reading, Through a Positive Mental Attitude,

I applied so many of their ideas and formulae, and by 1992 mine and my families life had completely turned around, this included a wonderful wife and two more children and a list of goals I had made in 1986 after father passed away, became a reality.

I had arrived finally, or so I thought, and was ready to respond to the question that still continued to bother me after all those years.

What Does RICH Mean To You?

I had some answers!

That?s what I believed anyway!

1 - ” A consistent income created from hard work

2 - ” A healthy family

3 - ” A loving wife and loving children

4 - “A nice car

5 - ” A great holidays

There are other things, but they are either directly or indirectly related to the above list.

Even now when I look at that list it seems to have ?hit the nail on the head?.

Then within three years it all slowly began to fall apart, business wise, thankfully not family wise our ?Polynesian Inheritance? is so strong, family always come first!

Where was I going wrong?

What was I doing wrong?

Whose fault was it?

Why now when we seemed so successful?

A myriad of questions passed through my mind, I began to blame myself, I was making wrong decisions.

I had begun a downward slide a personal one that took away my mental fortitude, my belief, my self-confidence, I lost motivation, the thing that really hurts me when I think back is that, ?I didn?t really care anymore? I began to think that the world owed me, I was a good person so for that I should be rewarded. What a ?Pity party?, darn pitiful is all I can say now!

After all these years I am finally getting back on track!

I realise that age and the new generation means I can never be what I was back then, why?

Well that?s the past and I now live for today!

Not tomorrow!

I have found a ?Certain Way? that has been available to each and every one of us for more than ninety years.

Probably what W Clement Stone and Napoleon Hill and thousands of others used to become rich, but forgot to tell us some very vital points, whether they did it consciously or just took it for granted that we would figure it out, I am really not to sure.

Want to find out as I have???

The real meaning of what ?RICH? is, go to my website ?Right Now? and find out how you to can have a ?RICH? balanced and fulfilled life with ?Prosperous Equilibrium?.

PS. Get a ?FREE COPY? about this ?Certain Way?, with THE SCIENCE OF GETTING RICH check it out right now!

http://www.prosperous-equilibrium.com/

Article Source:
http://www.articlecity.com/articles/business_and_finance/article_9802.shtml

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