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    Thursday, June 16, 2005
    Equity line of credit
    What is equity line of credit? My friend asked me about this phrase "equity line of credit". Well after asking my other friend, that phrase "equity line of credit" is about loan and stuff. After putting up my post about "Can we make money from internet",my inbox are filled with question about how to make money. Nowdays everything is about money and how to get fast money. Im not surprised if my friend keep asking me about "equity line of credit".

    To be honest, im not the World Bank that can consult you about generating money. Just use for logic ideas and expend it more. Be creative and please be real. You can't make USD10000 by investing USD10. If somebody willing to direct me to that path,im more than happy to accept it. Simple idea can emerge into big idea...that what Hendry Ford was doing. Plan you money. Keep a real "money-log" so you can see and study. Keep aside some money for your medical and study things like that always not in the "high paying" list for some of us.

    How about life insurance? Do you invest in life insurance? Please choose the right plan for you,family or even your kids. Lfe insurance can safe you big bucks in the future by investing a small amount today. Different insurance company offer you varies type of insurance and period of time. Search as much info as you can before buying any life insurance.

    Cut off any unwanted paying bit by bit. For example your handphone bills. For a drastic measure,try to use pre-paid scheme to locate your most important call monthly. I know this is not for everyone but give it a try. Now in Malaysia, telephony already offers you a lite-plan pre-paid cards selling at RM10 only. Try that for 15 days and evaluate your cell usage. For credit card user please be careful once you signed the agreement. Please do more research about your monthly or annual fees. Do get too exicited when you received your credit card. Try to set a fix spending limit once you received your credit card. Allow only the lowest credit card's interest to be made. VISA credit card offers you a great help and they will make sure you understand all the terms of their policy before they allow you to signup.

    If you already in debt,you can always make debt consolidation with your bank. They always ready to help you to plan your spending habits. Debt consolidation can help you in a long-term run. Be sure to read carefully the agreement before making any decision. Morgage is another pain in the neck for some. Try finding the best home morgage provider by asking your friends,family or even go to the "helpdesk" for more details. Calculate the time period offered and the method of payment. Check if you will be fined for a late payment and what is your right to protect your home morage. Most community center provide you with a free lawyer advise. Always ask the lawyer and other community service providers regarding this matter.

    Why not donate your old family car and earn some money? Most of charity parties always looking for a cheap way to help their members and you can rent to them at reasonable price. My friend made RM100 when a charity club need a car. Getting RM100 for renting your can is not so bad for a 2 days job. Why not you download a software that can manage your spending habit? Or maybe you can just dump eveything in your Excel file. Note down all of your need and spending,then make a real formula in Excel,at the end of every month print out everything. Study that datas and compare it to your "real" need for spending.
    posted by Jamloceng @ 2:02 PM  
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