Stanley’s plan on Debt and Credit

Is it true that the term Nylon was coined from New York-London? One of my friends told that researchers behind this polymer were from New York and London, hence the nomenclature.

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…5 words resulted in a round of applause that lasted for some minutes. Yes, I am talking about the 1893 Parliament of World’s Religions at Chicago. Swami Vivekanada, an Indian monk, was at the center of attraction of the session and millions of Americans were moved by his simple words “Sisters and Brothers of America.”

Today the Globe is celebrating the 144th Birthday of Swami Vivekananda. Let’s not miss the opportunity to offer our gratitude to one of the biggest personalities of the world, who taught us to worship humanism.

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Earlier job applications used to be denied because of poor credit. But now, in reality, your smoking habit can be the biggest obstacle in your way to get a better job. I am not joking. Employers do ask “Do you smoke?”

http://www.ectnews.com/about/careers.xhtml

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Two threads in DebtCC forums compelled me to write this article.

• Payday lenders move online, try to bypass state laws

Confusions: Are lenders allowed to do business with citizens of the state where they are not licensed?

It seems they are not. Otherwise the Attorney General of the state of West Virginia would not have instructed payday loan companies to refund the overly charged fees? Read the full story.

• Misinformation about FDCPA Laws
  

Confusions: If a North Carolina consumer applies, through internet, for payday loan from a company that is licensed in Delaware, which state law the both of them should follow? Also, if the borrower defaults in such cases, what legal action lenders can take? Is there any law that supports the lender or the borrower?

Unless there is a strict law applied for Internet-based Payday Loan Companies, Stanley suggests some solutions:

For consumer: Read the very fine print very very very carefully. By agreeing to the contract you actually agree to follow the state laws where the company is licensed which create lots of confusions later on. If the lender is not licensed in your state, it’s better to stay away off them.

For lenders: Online business does not mean you would break local laws. There are several technical ways to locate the state/region of visitors. You should restrict your online business to the states where you have proper license only. Visitors from the states, where you are not licensed, should not have the privilege to apply for a loan. Tracking users’ IP is not that tough nowadays!

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Congratulations to you Ashley; I knew you would win the Blog Hunt contest this month. You are an expert blogger now Cover good stories in your blog and I am sure you can make it a big hit, all the best.

Hi all, I want to wish you a very happy New Year. Visit my post in DebtCC forum, I have a good game for you there

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I was so excited to post my ideas in the Christmas Budgeting Forum when I first saw it. All I can say is this is a great idea. Also this is the right time to start thinking about Christmas Budgeting. There are people who plan for Christmas through out the year. They think how many paydays they have before Christmas and save little amounts from the paycheck. These little amounts get bigger shape at the end of the year

I am not a chess-player. I do not think before making a move. However, I start planning for Christmas from September/October. This helps me spend more and avoid stress. I must say that the post made by Ashley was too good. She has posted some Tips to Reduce Stress – a must read for all.

I was talking with a friend yesterday. He is going through a hard time. I have informed him to discuss his problems in the Christmas Budgeting Forum. Once his problem is posted here, it becomes a problem for all the community members and they give their effort to solve it out. And the problem gets a realistic solution quickly.

Gifts play a vital role in the budgeting. While surfing the web, I have found some good resources on Christmas Budgeting and I have posted it in the forum also. It not only speaks about financial planning and budgeting, but it also says how to select gifts and minimize cost.

No, I am not against of gift-giving and Christmas shopping. But I always speak for budgeting as a good budget keeps us debt free. Read my previous posts on:

• Christmas gifts are always precious
• Community proposes December to be the month for Budgeting
  

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Yes it hurts to see people judging gifts with its usefulness and price.

Author Patrick Moore tried to make some good points in his article Stopping Shopping at Christmas. I do feel that I need not buy precious gifts for my fiancée to show my affection to her. She can feel it very well that how much I love her; however, I will buy one for her this Christmas. And I will shop for my parents, my brother, my grandma and for my friends too. They won’t mind nothing if I don’t buy anything for them, but I don’t want to miss the million dollar smile on their face when I present them with the gifts.

Patrick commented about the story of O. Henry:

Both hair and watch are gone, making the gifts all the more poignant.

However, I feel that both the gifts became sweeter and that’s the essence of the love: sacrificing your greatest possession for your love even when it is not necessary.

And we should not forget about txtreasure also. She has a great family, lovingly kids who are caring and considerate. Buying gifts for them is not a compulsion but it’s a kind of happiness that all the mothers would cherish. And what community did for her is simply great.

Also if we go through the What was your best present ever? thread in DebtCC forums, we can easily understand that gifts are not evaluated by money, usefulness nor the height weight and length; but the way it is presented.

I can’t help but defer Patrick Moore on his article about Christmas gifts. When I had no money, I used to prepare cards by my own and sent them to my friends! I will buy Christmas gifts in future also. And I am ready to cut my budget on other accounts to buy Christmas gifts. It’s not a stress, it’s a relief.

Right time to make such an announcement, thanks Stella for taking the initiative. People often spend a lot during festival season and end up incurring more in debts. Now, with 4 or 5 credit cards in pocket, it’s not a big deal to splurge in excessive shopping, sometimes beyond our capacity.

I can remember of a Press Release covered by PRWeb last year that offered some valuable tips on cutting your expenses during holidays. Budgeting is very important, not during the festivals only, but through out the year. One who saves each month can spend more on Christmas shopping.

Even I think, students should have some compulsory budgeting lessons in school that would help them build up a better credit. I will be searching for more budgeting resources this month and will share it with the community. Hope this effort would make all of us financially sound. All the best

Technorati Tags: budgeting, shopping, christmas, community, december 2006

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