Choosing Bankruptcy

by Kim Staudenraus on July 30, 2010

Yes, you read the title right.  I am actually writing a post about choosing bankruptcy.  No, I haven’t changed my mind about bankruptcy, it is still not something I recommend.  However, I realize that many of you struggling with debt feel it is your only choice.

So since  bankruptcy may be the option you choose I thought it best to insure you have as much information as possible about the process so you don’t  get ripped off during such a stressful process.   With that said,  I thought I would provide some valuable suggestions if this is the path you decide to travel.

This is  a huge life changing decision so it is so important that you do your homework and research exactly how to file as well as understand the whole process.  The problem is most bankruptcy attorneys will just tell you what you need to do, sign here, pay here and send you on your way.  You need to get some unbiased information about the process.

For example I am sure you know there are three common types of bankruptcy:

  • Chapter 7 – Liquidation
  • Chapter 11 – Reorganization
  • Chapter 13 – Adjustment of Debts of an Individual with Regular Income

Did you know that if you earned too much money in the past, you cannot file Chapter 7 today even if you are unemployed?  Personally, I never knew that.  What about this, you can’t file Chapter 13 without a regular income or sufficient income.  Now that doesn’t make sense to me, but that is the way it is. The good news is there are  solutions.   I use these as just a couple examples of  how confusing bankruptcy can be, especially when you are already stressed about money and your debt.

Even though I didn’t know about those two little Chapter 7 & 13 tidbits, Dave Clark does know.  He is an attorney and bankruptcy expert.  Since you are stressed about money, and I am no expert about bankruptcy it is best to get quality information from someone who has been trained and knows about the process.    That is why I would recommend reading his manual on personal bankruptcy strategies.   If you are going to file, I highly recommend doing the process with as much knowledge as possible.

I like Dave’s manual because he discusses in detail the different options you have as well as the ability to mix and match options.  He also discusses the pros and cons of the options as well as making sure you are filing at the right time.  Yes, that was also new to me, the  timing of your bankruptcy is important.  You don’t want to file too soon and you certainly don’t want to file to late.

Dave also explains how important it is to do pre-bankruptcy planning.  It is important to discover which of your assets may be at risk as well as how to avoid prohibited financial transactions that will always get you in trouble.  He also tells what the difference is between foreclosure and bankruptcy, I bet you think you already know, you might be surprised.

This manual  is non-bias, straight forward, it discusses the process of bankruptcy, but what I like best is it also discusses life after bankruptcy, something that most people don’t think about like the timing the sale of assets, new loans and credit after filing bankruptcy.

Yes, if you are planning to file for bankruptcy I recommend getting an attorney but before you do that get the Bankruptcy Strategies manual, read it, and know the whole process so when you speak to your attorney you will know if what he or she is saying is on target or not.  Knowledge is power and at a time like this, you need all the power you can get.

{ 0 comments }

It’s About Behavior & Income

by Kim Staudenraus on June 30, 2010

When coaching clients I have always focused on the fact that being in debt is not so much about money but more about behavior.   That it is about 80% behavior and 20% income.

I realized that I was so focused in helping each of you look at your spending behavior as well as how to budget that I never really addressed the other 20% of the equation which is how to increase your income.

We all know the truth, if you can adjust your spending behavior and reduce your debt, you won’t need as much income.  However, you do need a way to sustain life.  After all  as much as I firmly believe that life is not all about money, that we should focus on the important things in life such as family and friends, the fact still remains, we need money to sustain  life and have some fun.

So in addition to teaching you how to manage money, how to adjust behavior I am also going to start offering ideas on how to increase your income.   Beside the fact that we need money to survive,  there is another common theme I have been hearing from my clients as well as family and friends.   Most people would prefer not to work.   Well let me re-phrase that, they would prefer not to work for someone else.   (can I hear an Amen?)

You see, if I can teach you how to manage your money, help you become debt free as well as show you ways to increase your income by working from home, I am solving all the reasons people come to me for help.

All three of these things are equally important, you have to know how to manage money before God will trust you with more money.  You need to get out of debt to relive the pressure and stresses of bill collectors.  But the most important of all these things is being able to be your own boss.  To be able to manage your own time between working for yourself and enjoying the most important things in life, your family.  You will be able to take the same principles you use in managing money and use them in managing your time.  Being your own boss requires a discipline of managing time properly.

The goal is not be go from being obsessed with debt to being obsessed with making money.   The goal is creating a perfect balance in your life between income, and behavior.

The reason I am sharing this today is because I was recently introduced to a program that teaches you how to make money from your home.  No, this is NOT a get rich quick scheme.  Making money isn’t quick, nor will you get rich if you aren’t properly managing what you are making.  I don’t believe in such things nor will I write or encourage such.    This product is a legitimate way to make money on the internet from your home.  I use some of these techniques  myself, that is one reason  way I can provide money management mentoring & coaching to you for free.

Now for a  bit of a disclaimer.  I don’t care for the “sales pitch” type page or even the name of the product, mainly because it sounds cliché and scheme like.   So ignore how it is presented and look at the actually content of the product.

Ok, disclaimers are done, so what is this product?   The product is called  “Affiliate Cash Ultimatum” (remember ignore the scheme like name) but believe this program totally over delivers for the small price.    So what is it?  This program explains in detail how to make money from your home on your computer.  Extra income while still being at home with the family.

Basically it is a way to sell other people’s products.  You don’t have to worry about customer service, you don’t have to worry about trying to collect payments.  You don’t even have to worry about knowing how to market and no you don’t need any technical knowledge or a website.  All you need is a  Clickbank account, which is free and, a niche, meaning a topic  that you are interested in.  Now this is important, you really need to pick a niche that you are passionate about, something you will enjoy talking about even there was no chance of you making money about it.

So I mentioned this program over delivers, here is what you get.  A 110 page  guide that walks you through the process step by step in 3  main sections which I will go into detail below. You also get a  workbook that is laid out in a way that will help you manage your time, set goals for each week and walk you through the  whole process. But the real bonus here is you  get 20 in-depth videos to make this a course with a lot of useful information.   The best part, you don’t have to wait for it to be shipped, you can download it directly to your computer, actually there is even something better than that, it comes with a 60-day money back guarantee so if you don’t think the information is worth the money, just ask for a refund.  Oh, and the price for all this is only $47, well worth it when compared to the amount of information provided as well as the fact that two sales could pay for the whole course.

So back to the three sections that I mentioned guide includes:

Module 1 – Market Research: Choosing Winning Products

The first part of this course teaches you the fastest and easiest ways to find a profitable niche as well as a product that will make you money if you promote it.  The author makes things simple and easy to understand including wise words such as:-

“We’ll get into how to choose your products in a bit; but all you’re doing is simply promoting, or marketing, that product to a wider or different audience than the creator can – for a cut of the profits………..”

You will learn the different methods you can use to promote products and the best ways to target niches that will make you additional money.

Module 2 – Action Steps to Build Your Affiliate Business

This module basically goes over the crucial steps you need to take to become an affiliate marketing master.  It gives you a step by step blueprint on what you should follow and why you should do it the authors way!  It contains very important strategies such as how to build your list and also how squeeze pages will help you get buyers purchasing many products from you in the future.

Module 3 – Techniques To Make You Even More Money

This section shows you ways of getting a lot of traffic to your website (if you have one) and if you are getting a lot of traffic then you will start making money, simple!  It covers all major areas and even if you only used a few of the ways mentioned then you will soon get many visitors viewing your site.

This course contains the complete steps from beginning to end how the author  has built up his affiliate business. It is also great that it shows you how to build an affiliate business without the need to spend money on buying your own domain.  With this course there are no hidden charges, although it does tell you how to use your own domain and auto-responder for maximum effect should you wish to invest.

Not only does this course over deliver with information, but it contains some tips and tricks that I did not know about and will certainly be testing  in the near future.

This course has a lot of information on how to make money online and was written by someone who has proven it works.

So if you are in a situation where you are learning to manage your money, but have so much debt that additional income is needed and taking a second job outside the home isn’t an option, the Affiliate Cash Ultimatum course is an option I can recommend.

It’s About Behavior AND Income

In my coaching I have always focused on the fact that being in debt is not so much about money but more about behavior.   That is was about 80% behavior and 20% income.

I have realized that I was so focused in helping each of you look at your spending behavior that I never really addressed the other 20% of the equation which is  increasing your income.

Now it is true, if you can adjust your spending behavior and reduce your debt, you won’t need as much income.  However, you do need a way to sustain life.  After all, let’s face it, as much as I firmly believe that life is not all about money, that we should focus on the important things in life such as family and friends, the fact still remains, we need money to survive.

So in addition to me teaching on how to manage money, how to adjust behavior I am also going to start coaching on how to increase your income.   Beside the fact that we need money to survive, I have been hearing a very common theme as of late in talking to clients as well as family and friends.   Most people would prefer to not work.   Well let me re-phrase that, they would prefer not to work for someone else.   (can I hear an Amen?)

You see, if I can teach you how to manage your money, help you become debt free as well as show you ways to increase your income by working from home, I am solving all the reasons people come to me for help.

All three of these things are equally important, you have to know how to manage money before God will trust you with more money.  You need to get out of debt to relive the pressure and stresses of bill collectors.  But the most important of all these things is being able to be your own boss.  To be able to manage your own time between working for yourself and enjoying the most important thing in life, your family.  You will be able to take the same principles you use in managing money and use them in managing your time.  Being your own boss requires a discipline of managing time properly.

The goal is not be go from being obsessed with debt to being obsessed with your own business.  The goal is creating a perfect balance in your life between income, and behavior.

The reason I am sharing this today is because I was recently introduced to a program that teaching you how to make money from your home.  No, this is NOT a get right quick scheme.  Making money isn’t quick, nor will you get rich if you aren’t managing what you are making properly.  I don’t believe in such things nor will I write or encourage such.    This product is a legitimate way to make money on the internet from your home.  I use some of these methods myself, that is one reason  way I can provide money management mentoring & coaching to you for free.  I am going to give a bit of a disclaimer here in that I can’t stand the “sales pitch” type page or even the name of the product, mainly because it sounds cliché and scheme like.   So ignore how it is presented and look at the actually content of the product.

Ok, disclaimers are done, so what is this product.  The product is called  Affiliate Cash Ultimatum (remember ignore the scheme like name) but believe me it works and totally over delivers for the small price.  You get 110 page pdf guide that walks you through the process step by step in 3  main sections which I will go into detail below. You also get a  workbook that is laid out in a way that will help you manage your time, set goals for each week and walk you through the  whole process. But the real bonus here is you  get 20 in-depth videos to make this a course with a lot of useful information.

It is a way to sell other people’s products.  You don’t have to worry about customer service, you don’t have to worry about trying to collect payments.  You don’t even have to worry about knowing how to market and no you don’t need any technical knowledge or a website.  All you need is a  Clickbank account, seriously, it is free and not I don’t get any money by promoting Clickbank.

As the days and weeks move forward you will see this theme come across more and more in my posts.  Please let me know what you think, if I am on the right track, after all, I am here to give you hope, guidance, encouragement as well as some solutions.

{ 2 comments }

Living Below Your Means

June 23, 2010

Yesterday in “Live Like You Lost Your Job” I talked about living below your means now, before you lose your job. If you were to lose your job today could you sustain your current lifestyle?   The goal is to get your lifestyle and living expenses in a state that you could survive if you lost [...]

Read the full article →

Live Like You’ve Lost Your Job

June 22, 2010

One common theme I am getting from my clients as of late is that they have lost their job and now cannot meet their bills.  As you read this you may be in the same situation. Businesses are cutting back on their expenses and even though the employee is what I consider to be one [...]

Read the full article →

Debt and the Company You Keep

June 21, 2010

You have heard “your only as good as the company you keep”,  “Birds of a feather flock together”,  “A smart man surrounds himself with smart people”, “If you hang around with trash, you will be seen as trash”, These sayings are usually a different way of saying you are judged by your friends or those [...]

Read the full article →

Online Payday Lenders

June 19, 2010

You need money.  Your credit cards are maxed and your family won’t lend you any more.  What do you do? Well you may think, maybe I can get a loan from one of the online Payday lenders.  That really is not the best idea. The Better Business Bureau has issued a warning about deceitful Payday [...]

Read the full article →

What good is a Million dollars if….

June 19, 2010

Are you in debt? Are you able to manage money well? If you answered “yes” to the first question and then “no” to the second question, congratulations you have already taken the first step in improving your life by admitting you have trouble managing money. People don’t come to me unless they are in debt, [...]

Read the full article →

Co-sign a loan…Good Idea or Not?

June 18, 2010

So a friend or even a relative has come to you explaining how they found this great car.  They tell you it has low mileage, ice cold air, runs smooth.  It has new tires, and for a three year old car the price is fantastic. They go on and on about the car, how it [...]

Read the full article →

Is a consolidation loan a good idea?

June 17, 2010

Should I get a debt consolidation loan? This is a question I am asked a lot during my coaching sessions, and today we will look at the answer to that question. The debt management process begins by taking an inventory (known as a preliminary budget) of your current financial situation.  You first have to figure [...]

Read the full article →

Credit Cards that Pay…Really!?

June 16, 2010

Same as cash. Reward points. Air miles. Save 10% if you sign up for the store card, the list goes on. We have all heard the sales pitch or gimmicks that try to get you to use a credit card to pay for a purchase. Offers for credit cards are everywhere. From a casual visit [...]

Read the full article →